With increasing globalization, import and export has been growing at a rapid pace. Manufacturers are looking to expand their reach to larger markets in order to grow their business. At the same time, they are also trying to identify right import destinations to source raw material. Hence, in January 2021 exports stood at USD 27.45 Billion, as compared to USD 25.85 Billion in January 2020, exhibiting a positive growth of 6.16 per cent. The highest growth in exports has been observed in the engineering goods which is 18.7 per cent YoY amounting to USD 1.2 billion.
The exports of engineering goods to South Africa increased by 550 per cent YoY while the export for such goods to the United States increased by 16.3 per cent YoY. If we look at the pandemic’s impact, the highest exposure of COVID-19 on Indian sectors relates to products that make around 18 percent of India’s total export basket, i.e., the Textiles, Clothing and Transportation sectors. Moderate exposure is being seen for India’s top three exports, which are Fuels, Chemicals, and Stone and Glass. To address these concerns, government took several steps. Various technology driven solutions were undertaken for foreign trade facilitation.
Electronic platform for Preferential Certificate of Origin (COO) was released and various FTA partner countries were persuaded to accept e-COOs. Duty Exemption Authorizations such as Advance Authorization and EPCG were made paperless and the digitally encrypted authorization data is being auto-transmitted to customs. In spite of all such endeavors, manufacturers have been struggling to achieve the highest potential out of the options available. Consultants are coming to their rescue by guiding them through the journey.
After studying this industry segment in-depth, we have come up with the list of Top 10 Import/Export Consultants who have excelled in this field with their innovative approach. Having proven their dedication to meet the customer expectations in an end-to-end manner, these consultants have stood out from the crowd.
We look forward to receiving your feedback and suggestions.
