A study of trends in global trade from information available with the concerned like Export Promotion Council (EPC) or Commodity Board could indicate sourcing options. The leaders in world trade for specific product categories are invariably the most competitive.
Agencies such as the National Small Industries Corporation (NSIC) and concerned commodity boards may facilitate in financing and providing information on options respectively. So also, chambers of commerce in India (Indo-ASEAN chamber for instance), and industry associations abroad could be useful points of contact. In order to source products from China, for instance, the Indo-China Chambers of Commerce and Industry, Mumbai, as also the China Council for Promotion of International Trade (CCPIT) could be of use.
Such institutions frequently organize exhibitions, like the one at World Trade Centre, Mumbai, (2004), KAASIA, Bangalore (2005), and CODISSIA (2007). Information on the list of exhibitors and main products offered could easily facilitate sourcing of inputs. Trade desks such as the Korea Trades Centre with their offices in Chennai, Delhi and Mumbai proactively support such options.
Image Source: chronicle.co.zw
ADVERTISEMENTS:
In fact, the Chennai office had recently facilitated a catalogue show and video conferencing of Korean machinery and suppliers in Tirupur. A fabric resource centre has also been established at Tirupur. Great competitiveness was evident in sourcing certain machinery and equipment from that part of the world as part of the up gradation and expansion schemes of textile SMEs in India.
Availing the services of PSPs over sourcing visits:
Exporters from Surat and Tirupur took the option of global sourcing using the services of the Korean Trade Authority (Chennai) in 2004. KOTRA also provides free video conferencing facilities with translator support to facilitate sourcing by Indian SMEs.
Ready-made garment manufacturers in Salem are regularly sourcing accessories from Hong Kong. Foreign embassies in India may therefore facilitate sourcing options. The website of the Export Credit Guarantee Corporation of India (www.indianexportregister.com) offers leads to contact points as also to an agency closely associated with them on credit-rating suppliers and buyers.