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Exporting worldwide: Five compliance challenges Indian manufacturers should overcome
COVID-19 changed our perspective on manufacturing rather dramatically.
Several countries, including India, have understood the consequences of singular dependency on China for manufacturing goods.
India (encouraging manufacturing within its borders with its Make in India initiative) has seen a sudden yet intense surge in manufacturing MSMEs. Even the recent Union Budget directs generous funds and incentives towards manufacturing.
However, as we attempt to become a significant part of the global value chain, certain challenges will likely slow down the country’s efforts. Because exports become a natural progression to manufacturing, here’s a quick overview of the challenges that manufacturers face and how to overcome them.
One of the first steps to exporting your manufactured products is to ensure that the products are in line with the local compliance laws. Once your business is sure that no local compliance violations are occurring, it can look to explore its avenues and start cross-border trading. However, there are specific cross-border challenges that you must keep in mind.
