World economic order and activities change drastically as most countries experience family isolation, social disorder and even national closure.
Economic activities intend to provide essential life needs.
The business sector operates in new normal conditions – the stagnation of all economic factors. It leads to partially disrupted global supply chains, and the global circulation of goods, services and labour, making all economic, trade and investment activities less smooth and efficient. As a result, the economy and international trade cannot function properly, let alone growth. Besides, the risk of falling into stagnation or even recession is not only present but may also increase.
Revenue of the businesses decreased, in which micro-enterprises dropped the most; followed by small enterprises, medium enterprises and large enterprises. This reflects the resilience of companies depending greatly on the size of the business.
Service businesses saw the most significant drop
in revenue, followed by industry and construction.
Enterprises in the Agriculture, Forestry and
Fishery sectors have the least decrease in revenue.
The global consumption market is narrowed, when more than two-thirds of businesses think that the worldwide consumption market has dropped sharply. The rate of companies facing difficulties due to narrowing export markets is relatively high. The larger the exporters’ scale, the higher the proportion of firms facing contracting export markets.
The decline in export orders and the difficulty in goods circulation are the most significant difficulties of most businesses; Increased transportation and storage costs are also a concern.
According to the business’s size, the difficulty in goods circulation is the biggest problem for the microenterprise group. Meanwhile, for small, medium and large enterprises, the most severe difficulty is the decline in export orders.
However, Route2market, a business that operates in the supply chain, provides services to help foreign companies enter the Indian market. We have solutions to enable enterprises to overcome current difficulties.
After the epidemic is over, it will also be
a great advantage for them to dominate the market.
Route2Market acts as an extended arm of our client in India and utilises our knowledge, experience, infrastructure and network to establish their business.
We offer fixed services like market research, subsidiary setup, regulatory approvals, customs clearance, storage & distribution, incubation centre, administrative support etc. We have customised offerings for most of our clients since we understand different businesses have different requirements. We can support setup and growth of your Indian business in many ways.
View our explainer video. I hope this will give you a fair impression of our capabilities to assist businesses in launching in India.