myway2india has a business model that works exclusively for the benefit of our overseas clients. The first question that comes to mind about sourcing from India is “Why India”?
LOW COST OF PRODUCTION
According to the US News and world report, India is ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam.
The report has evaluated 85 countries across 73 attributes. Attributes are grouped into 10 sub-categories like quality of life, social purpose, open for business, etc. Under the open-to-business category, India has scored 100% when it comes to cheap manufacturing costs. The Indian government under the leadership of PM Mr.Narendra Modi has started incentives for the manufacturers, it has gone overboard to reduce the compliance burden on the corporates with a clear vision of turning India into a major manufacturing hub, a supplier to the world.
HIGH-QUALITY PRODUCTS
A focus on a quality revolution is underway in Indian manufacturers to grab the best orders from global importers. India is home to hundreds of quality-conscious manufacturers. Many MSME’S were previously focusing on the Indian market are now having an eye on the global markets and have incorporated United States and European standards of quality. They have high-quality controls and have in fact broken all barriers and are immensely contributing to Indian Exports.
BETTER COMMUNICATION
India has entered the age of Digital connectivity and it has spread like wildfire due to its usage, utility, and government push to make India an IT hub.
Communication & Consumption are coming together to help India become a global market leader creating new opportunities at a rapid pace. This means now an importer or exporter is having to seem less communication via digital platforms over the internet. A person can easily see, and inquire about the status of his shipment and too almost free through Whatsapp, Skype, etc. India today has 1.1 Billion mobile subscribers which is over 90% of the population.
Better & Economical Transportation
The four means of transportation are Air, Sea, Land and India Railways. As Indian growth story is picking pace government of India has given top priority to efficient and economical ways of getting Indian goods shipped out of India. According to Indian Cabinet minister for Road, Transport and Highways ” Without infrastructure, there can be no industry, and without industry there can be no capital investment, and without capital investment there can be no employment potential “. He has vowed to make Indian road infrastructure equal to that of the USA by 2024.
Sea Transportation
India has 13 major ports.The eastern coast is home to Kolkata, Paradeep, Vishakhapatnam, Chennai, Tuticorin, and Ennore, while the western coast is home to Mumbai, Kandla, JNPT, Mangalore, Momagao, and Cochin. Andaman and Nicobar islands contain Port Blair. Apart from these major ports India also has 200 minor and intermidary ports.
Air Freight & Courier Service
Airport Authority of India is a government body that manages, maintains, upgrades and creates new Airports in India with 10 custom and 24 airports it has a huge responsibility at hands. The Indira Gandhi International Airport is the largest and busiest, built on 5495 acres followed by Chattrapati Shivaji Maharaj Airport in Mumbai on 1850 acres. Thousands of freight forwarding companies both International and Indian are operating from these International airports. Millions of tons of cargo comes in and goes out of India everyday.
Apart from these Courier companies like FedEx have started services of their freighter landing in India which helps in reduction in the Air Cargo cost plus the benefits of online tracking as well as 24 hours customer care. DHL,UPS,Aramex also have deep presence in the Indian market and are used by Indian exporters for sampling or commercial shipments.