HOW INDIA CAN DOMINATE THE GLOBAL MARKET AMID COVID-19?

 

 

We all know the deadliest pandemic so far COVID-19 has reached and continuously doing so in almost every part of the world. If we go on the figures, then more than 20 million people have been affected by the deadliest disease across the world and millions of people have lost their lives due to the pandemic. To reduce the spread of coronavirus, various countries have implemented the nationwide lockdown. In fact, post lockdown as well, various rules and regulations should be followed by the people at their workstation. Many countries have also closed their international boundaries to reduce the spreading of the deadly pandemic. Due to all these restrictions mentioned above, COVID-19 has been affecting the business and trade market all over the world.

THE IMPACT ON THE GLOBAL TRADE MARKET DUE TO NATIONWIDE LOCKDOWN

Most of the fastest growing countries such as the USA, India, Germany, Brazil, South Africa and Russia have been going through the inflation period due to the restrictions on the international trading business. According to the Import export India data, before the COVID-19 pandemic started, India was the fastest growing economy in Asia. However, due to the nationwide lockdown of two months and the restrictions on the import export business have badly affected the Global Trade data as per the Exim Data of the country. According to the experts of Trade data, due to the COVID-19 pandemic, various countries have restricted their import export business with China.

And as per the USA export import data, the ongoing trade war between USA and China has benefited various countries such as Thailand, Malaysia and Indonesia. And India is no different. India is considered to be one of the biggest service sector countries and also comes amongst one of the fastest growing economies after China, since the 1990s. However, due to the ongoing negative image of China because of COVID-19 pandemic, India has the golden opportunity to dominate the Global Trade Market. According to the Indian Trade data, India has the ability and potential to turn the table if certain things should be followed properly. There are various developed countries such as the USA, Australia and Mexico which are planning to cut off their trade ties with China.

HOW INDIA CAN GET THE BENEFIT DUE TO THE ONGOING TRADE WAR OF CHINA??

According to the international import export data, if India works on its certain measures and strengths and implements its ability on the import export business, then there is not even 1% doubt that India will become one of the leading manufacturing hubs replacing China. This is the high time for India that it should come out with the concept of domestic manufacturing and fulfill the demand of the Global Trade Market rather than relying on China. However, as per the export-import data, the Indian government will have to implement some necessary changes in their existing import-export business, so that India can compete with the high demanded Chinese products all over the world.

Eximine Services is one of the leading import export data provider companies which helps you in providing the authentic, genuine and updated import export data of the international trading market. We are a market research company as well which helps the beginners in providing the assistance of the Exim data. 

For more details about our services, visit http://eximine.com 

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