India’s exports fell 10.8 percent year-over-year in September to $23.7 billion, down from $26.6 billion in the same period last year, according to preliminary figures released by the Ministry of Commerce and Industry. Cumulatively, exports from April to September (fiscal year 2012-2013) were $143.7 billion, a decrease of 6.8 percent from last year’s $154.1 billion year to date.
Conversely, India’s imports rose 5.1 percent in September to $41.8 billion, up from $39.8 billion in the same month in 2011. This demonstrates economic infrastructure transformation occurring, from producer to consumer, largely influenced by an establishing middle-class portion of the populous. It provides opportunity for product providers globally to satisfy their growing demand for good they don’t generate. Indeed good news, as all are looking for market expansion, wherever they can find it. A land of a billion, ready to buy, is a well-timed attractive development.
As you prep your supply chain for your push, this is an advantageous time to optimize your freight transportation cost savings, maximizing profitability (to India, and everywhere you ship domestically and internationally). Have a chat with the folks of Data2Logistics, see where your savings are sequestered. The discovery will lead you to meaningful budget recovery, something else we’re all seeking.
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