Indian Exporters: Foundation For Economic Development

Rapid growth in the export sector in India in the past few years has also led the government to bump up their initiatives in the export sector. However, the government of India has considered plans to liberate the Indian exporters from the cumbersome paper works and simplify the required procedures. In the recent past, Indian exporters have elevated the exports across the globe. Thanks to globalization. In a developing economy like India export sector promotion is a foundation for economic development. Indian exporters are reaching out to an international level with the help of various business platforms. Acceleration of export sector in India is the outcome of business portals. Many online firms maintain exporters records, which consists minutiae of Indian exporters, Indian manufacturers like contact information, details of company, details of products etc. This way, business portals are helping prospective buyers to access the exporters’ contact details and providing them an opportunity to contact best exporter or manufacturer as per their convenience. Such necessary and crucial piece of information regarding business players has paved way for the substantial growth of the Indian economy. rnBusiness portals provide authentic information of active Indian exporters and importers, so that the traders can approach more buyers and sellers and can negotiate with them for better prices and good quality products. Business portal is well-suited for any kind of business whether small or large scale business. Such web portals offer various categories of products online, publish the latest information about the products to attract more buyers and offer easy modes of payment. Some Facts and Figures Export Sector of Indian Economy has improved immensely over the years and has earned US Dollars 125 billion in the current fiscal year. The export sector of Indian economy has always delineated impressive growth in all the areas of export, like the chemical industry in the financial year 2005-06 recorded US Dollar 12677.21 million from exports, whereas the export earnings from gems and jewelery was US Dollar 13705.44 million in the same fiscal. Role of Indian Government But, the most significant export barrier faced by the Indian exporters is red tapism, which is mostly accompanied by corruption. Rapid growth in the export sector in India in the past few years has also led the government to bump up their initiatives in the export sector. However, the government of India has considered plans to liberate the Indian exporters from the cumbersome paper works and simplify the required procedures. India’s exports are expected to accelerate in future, taking into account the growing numbers of approved, in-principle and notified Special Economic Zones in the country.