With Indian consumers expected to triple their expenditure by 2020, are you ready to enter this growth market?
India is an increasingly important trading partner for Australia, accounting for more than $15 billion in exports in 2017, an increase of 2.1% on the previous year.
Sectors displaying high growth and increasing opportunities include smart urban infrastructure, healthcare and technology/ services export.
If you’re keen to explore these opportunities, NSW Business Chamber export experts suggest asking yourself the following questions to assess your “export fitness”:
1. Do you understand the risk associated with commercial activities in emerging markets and have you researched what other business in the market have done previously?
2. Are you on top of current trends in the Indian market? Does your product fit a specific need in the market? You may need to consult a specialist service to assess and verify this for you.
3. Are you being strategic about your plans for market entry and expansion into India?
4. Can you find the right partners in India without assistance, or do you need professional assistance?
5. Have you visited India to research the market fist-hand? Joining peers on a Trade Mission or delegation is a great way of assessing the market.
6. Do you have appropriate investment and staff levels in place to upscale production to accommodate a major contract?
Tap into the Chamber’s international network and experience to take your business overseas. Find out more.