The last few months have been very difficult for businessmen in India and around the world. However, now his business will get a boost. According to a study, the export of traders to India can increase up to Rs 1.5 lakh crore annually. This study has been done in the Standard Chartered Trade Opportunity Report. In this study, trading with 10 main trading partners has been studied and according to this, Indian exporters will also get a boost in these 10 markets. According to the report, it can be exported up to 1.3 lakh crores. Thus, there is a business opportunity of about 2.8 lakh crores between these countries.
The study highlights market and sector
Economy and business are trying to recover from the effects of Coronavirus. This study highlighted markets and sectors where there are opportunities to increase business. According to the study, the United States, Malaysia, Indonesia, Singapore and the United Kingdom will have the most exports. From here, annual exports of Rs 47.8 thousand crores will increase. It has the highest potential growth in the sector providing financial services.
There are also opportunities in ASEAN regions
The ASEAN region has a business opportunity of about Rs 78.5 thousand crore for exporters from Indonesia, Malaysia, Singapore, Thailand and Vietnam. There is an opportunity of 2200 million automotive exports in South Korea. Apart from this, business from the UK, France and Germany can also grow to 23.5 thousand crores, out of which the opportunities of 3000 crores are only from the organic chemicals sector.
In this study, the 10 main trading partners of India are Indonesia, Malaysia, Singapore, South Korea, Thailand, Vietnam, France, Germany, United Kingdom and America.
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(Article- Gaurav Bhatnagar, MD & Head, Trade, India & South Asia, Standard Chartered Bank)
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