The Indian export industry has been growing at a tremendous pace with the emergence of new industries in the international market front. The Indian exporters have benefited enormously due to the increased usage of the online B2B directories. Indian industries mainly consist of Small and Medium industries which have grown recently due to the use of B2B directories.
Maximum Utilisation of Business Directories
The B2B directories have proved to be a platform to millions of buyers and sellers from all over the world. These directories have a number of lists that contain wide range of products to be bought and sold in the international markets. Exporters and importers from world over have access to online directories where trade leads can be posted. The trade leads are potential orders from prospective clients. Thus a business chain is formed.
One of the main strategies of business includes advertisements. The Indian exporters have benefited from the use of these directories by acquiring maximum exposure to their products in the global markets. The SME sectors have benefited manifold as it has acquired maximum exposure for products and services in the world market. Compared to the large business enterprises, the SME sectors find it difficult to obtain the required exposure for the products and services.
With the help of online portals, the Indian exporters have found markets for their products and services. Through the B2B directories, the exporters of India find it easier to reach the target audience through online advertisements. Different quality products are now being showcased through the online directories at a cheaper rate. Some of the directories also offer free advertising options for start up companies.
Through effective use of B2B directories, the Indian exporters have increased opportunities to communicate with buyers and sellers in an international level and carry out monetary transactions in a quicker pace.
With the use of product catalogs, the companies can easily display the product launches and other details beneficial for a business improvisation. The specifications of the latest products and services can also be updated in the product catalog. This makes it easier for prospective clients to search for latest products and services.
Through the use of B2B directories, the Indian exporters are able to establish long term relations with buyers and sellers from different parts of the world. Online inquires are posted by prospective buyers for products and services which is a faster method of business inquiry.
Effects on Indian Economy
The B2B directories have undoubtedly paved way for the substantial growth of the Indian economy. The Indian exporters are able to compete with countries in the global markets due to the emergence of the B2B markets and directories.
Several policies of liberalisation have been introduced by the government of India to boost the development of the export industries which has further accelerated the pace of growth of the industries in India. Many developing countries have gained immensely due to the evolution of the B2B directories and India is one among them.