Trade between UK and India is an important factor for both countries. With an equal share of businesses and good trade numbers, the cargo exchange is a usual activity between both. In the days when India was hard struck by the pandemic the UK never left the side and kept on supporting the country in any way it can.
But in that period how did things remain stable and how the balance was maintained. It was through the self-relying strategy of the country. When the trade was at a halt internationally India kept its public fed with its resources. Foreign products were not necessarily wanted in the country as everyone just cared about how the family is going to get enough food or money to survive.
Work was shut and there was a situation of emergency everywhere in the country especially in more affected cities. Still, the country managed to survive the war. But the economy was affected and there were also foreign businesses in the country waiting for supplies. Such a fast-growing economy, when halted for a significant time, does create an imbalance but with support from within the country, the population did get the necessities of daily routine with easy access.
When a country is stable from the inside and have fewer imports and more exports than the regaining process are faster. India did have a bad time in trade but it is gaining its strength again. The pace is fast and despite major blows, the system is progressing smoothly.
It is said that the previous state will be reached in a short period from now. The internal stability of the country has certainly played its part in this path. Its failure to tackle the pandemic was obvious and still, the threat is there. But with the opening of borders internationally the imports and export are getting back on track.
India has become a major trade destination in a very short time and its growth has reached many countries. Countries like the UK and many more are attracted to this progress and with India’s rich economy the trade process continues no matter how hard the situation becomes.
As in the whole world, there has been a shift in the freight usage of the air cargo to India has also seen an uplift. Airfreight has become more affordable as compared to sea freight bringing with it some advantages and disadvantages. Many passenger planes got transformed into cargo carriers as lesser passengers were travelling at the time of the pandemic.
Even people avoided travelling between the cities within the country. That caused more loss to the airlines than profit and to manage it cargo plane conversion took place. The sea freight got more expensive due to some of the mistakes by the carriers and also due to the lesser demand of cargo at the time of the pandemic surge.
To clear the payments of labour and also for the loss of the companies the containers were sold which ended up in shortage. The supply chain is adversely affected for the sea freight due to the minor and major issues and harmed the whole process.
On the other hand, the air cargo has given a fast solution to the cargo transfer but there are more limitations here than sea cargo and despite being a quick medium it becomes expensive as more load is added. But anyhow the prices are still lesser when the present rates are compared.
With diversity in culture and regional norms setting a business in the country is a challenge. Then there is also a difference in system and corruption is also a hindering factor. But above all this, the aspect that causes more difficulty is self-reliance. With such a variety in products with many having good quality, the emergence of a new product or business does get hard.
One has to provide a new aspect of a particular product to get it popular among the masses. However, a business does get settled the profit is immense. So, the initial time is harder afterwards everything falls in place quickly. Breaking into the market is going to need a lot of effort, but the fruit is a sweater with every difficulty conquered.
As we appreciate the varied cultures, religions, norms and taboos in India, these do become a hurdle to the international market. All the regional aspects have to be dealt with separately to set up a business in the country. This is a hectic and time-consuming procedure. You cannot do things in a blink of an eye in the country. But what becomes an advantage is getting valuable knowledge about the country which is going to assist in the future.
A foreign business cannot target every audience in the country with just one strategy. The population has to be divided into parts and the market also, so that proper research can be conducted to know what formula has to be applied where. In the case of India and the UK, this is simpler as both countries know different aspects of each other and have similarities.