India has shown significant growth in the world’s economy, leaving France aside to take the sixth place. It has increased its imports and exports by 7.7% from the first half of 2018 and with even greater growth for the last period
of 2019 and this is attributed to the manufacturing market and agriculture.
So it is the fastest growing economy today, with large car manufacturers that have increased sales, for their quality and innovation; on the other hand, handicrafts and the textile sector play an important role in economic growth, being objects of great demand in Latin America.
Moreover, technologies in this country have evolved and have become direct manufacturers, assemblers and sellers of excellent products. One of the tools that have led India to acquire economic strength, is that they think of strategies that allow the exchange of cultures and knowledge, training workers in different languages and with knowledge of the cultures in which they will export or with those who want to conduct business with them, to better understand the different markets.
Thus, trade relations between Latin America and India have improved, identifying needs and the market. Increasing the commercial exchange of the last 10 years by 40.00 billion dollars.
For the Latin American market they have shown great growth in the export of petroleum oils or bituminous minerals, with 10.3% of total exports, followed by diamonds, cars, crustaceans, paddy rice, beets, wheat and peanuts.
However, we must start contemplating another type of market in which India is working hard and has begun to potentialize for export of biofuel crops. With productions of 3.8 million hectares planted with genetically modified products, especially cotton.
Although it is a country with an incredible export strength, it is also a great consumer. It has a significant number of population, which is growing; therefore, it seeks to generate a greater variety of products, especially food and fruits.
40% of the agricultural products that arrive from the MERCOSUR countries, are vegetable oils, especially palm oil and represent 25% of importation; soybean oil that comes directly from Argentina and Brazil. On the other hand, petroleum oils with 41.9%, copper ores with 12.8% and gold with 12.1%.
For agriculture, cane sugar stands out and in the technological part, telephones and transmission devices.
For Latin America, India emerges as an excellent alternative and import and export business partner, as it is an economy that is growing and is positioned at the end of the year as the fifth best in the world. It is the best opportunity for commercial growth and a huge step to the international economy.
Latin American countries stronger in the import and export of India.
Mexico and Brazil are the largest exporters with 28%, followed by Colombia and Chile with 6%
The markets of the two regions are in great growth and are on their way to success if they continue their relationships. So with THE TRADE DATA you can expand your business with information of foreign trade from more than 12 countries in Latin America, you will know and analyze the behavior of the market knowing the details of the products, the FOB values of the goods, the countries of purchase, origin, destination, CIF values, among others.
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