India's economy is growing, significantly. Its GDP increased 12.55% in 2021 compared with the year 2020. In recent years, the country's industrial development has begun to require the import of raw materials, machinery and equipment. E-commerce is booming, with the volumes of trade increasing via marketplaces such as Amazon and Flipkart. The standards of living also have begun to grow due to the increase in GDP per capita, and as the quality of life begins to rise, there is an increase in spending and a need for products such as televisions, cell phones, appliances, and household goods. However, a lack of finance, payment gaps, and a requirement for trade credits from Chinese suppliers are all obstacles to overcome for importers. This is where Sinosure helps. It is greatly assisting India-based importers.
Further down, find out how we supported one of our India-based clients to secure Sinosure credit and obtain deferred credit payment conditions.