If you are a novice exporter excited to enter global trade, one of the first overwhelming steps would be to find the right buyer. It doesn’t matter if you are an established player in your domestic market, selling abroad is a different ballgame.
There are 195 countries to choose from and finding the best market among them needs some serious consideration. For starters, look at countries with which India has a multilateral or bilateral trade agreement. These agreements are aimed at reducing or removing any barriers in trade relationships between countries. They also help foster reciprocal concessions, allowance of non-tariff restrictions, and favoured treatment for exporters.
According to the Ministry of Commerce and Industry, India has trade agreements with over 70 countries or groups of countries. This gives a more defined pool of countries for exporters to pick from.
While looking at the countries you may export to, factors that have to be kept in mind include demand, geopolitical climate, the economy, profitability and trade barriers.
