Indians this year seem to have a perfect opportunity for export of goods and services and certain specific goods and services especially. The presidential power change in the USA, the on going geopolitical unrest and wars, India's latest view on foreign trade and a lot of other factors have made it a very favourable environment for Indians to indulge in the exports business.
Trump became the 47th President of the United States of America this year. This has led to a lot of coming changes in foreign trade. Trump brutal attempt to curb Chinese imports into the USA has led him to also impose heavy tariffs on Canada and Mexico. This presents a positive opportunity for India to export goods to the USA, another advantage being the depreciation of the rupee against the dollar which will increase profits for Indian exporters.
India has done remarkably on the diplomatic front and can use this to their advantage when it comes to trade. A big opportunity lies in services in Saudi Arabia - to decrease the nations dependency on oil, Saudi Arabia wishes to promote its IT sector and is pumping heavy investments into it, the locals being untrained and inefficient in front of Indian talent, the Indian professionals have high paying opportunities in the country in tech based positions. Another insight on Saudi Arabia is their recent developments in infrastructure, they are needing a lot of equipment for whole cities that they building requiring largely medical equipment for hospitals.
Apart from trade of goods, there is also incentive in building Indian brands in foreign markets. Recognising Indian products such as Makhana, Seabuckthorn berry, Jowar, Sapodilla, etc. and launching these goods as brands in foreign markets can be highly profitable. A big part of globalisation has been the ease of access to foreign products and things of other cultures such as Turkish coffee and ice cream, Korean cosmetics and skin care, Scandinavian furniture, etc. Similarly, there are several goods native to Indian culture that can be marketed and sold heavily in foreign markets.
Well, I think all of these can be massive opportunities this year and need to be taken advantage of. Look into this yourself and make sense of it, I am just a college student who reads articles and consumes content. I thought of this to be interesting and decided to write about it. Do let me know your thoughts and any additional information below, hope you enjoyed reading!
-Kavish
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