Sinosure Insurance: Enhancing International Trade for India-Based Importers

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.

Our India-based client – a well-known pharmaceutical wholesaler located in Mumbai – reached out to Axton Global seeking consultancy services to apply for a Sinosure credit limit.

They faced one main difficulty previously. Though they had made imports via a company based in Hong Kong, the client had never set up a direct contract with the Chinese supplier.

With this difficulty in mind, we approached the challenge by:

1. Initiating a credit limit set up specifically for the client's Indian entity
2. Structuring a contract to facilitate the client's purchases, which they would carry out via a Hong Kong entity
3. Arranging an additional credit limit for the client's Hong Kong-based company as a further step

As we frequently offer the basic credit limit setup service to international clients based in different locations around the globe, initiating and completing the credit limit set up fast and simple. We also managed to receive the ideal credit limit for the client with ease.

We then focused on the second step set about authorizing the Hong Kong-based entity to pay for the imported goods according to the directions and order of our Indian client. Our expertise made it simple to put together the required documents to serve this purpose. We then confirmed the authorization with the supplier and Sinosure.

To handle the third obstacle, we discovered that the trading and import history of our India-based client spanned a range of other countries. They had substantial volumes of international trade and imports, as well as outstanding financial statements.

Capitalizing on these exceptional financial records, we assisted our client in obtaining an additional credit limit for their Hong Kong-based company. Our client's creditability was greatly increased as a result.

Are you searching for a Sinosure credit limit for your India-based organization's trade and imports? The application process needn't be a minefield. Our Sinosure consulting services and provision of expertise will simplify the entire procedure, enhancing your resulting international trade. Book your consultation for more information.