India has one of the fastest growing e-commerce industries in the world, in terms of both supply and demand. With the total turnover of the Indian e-commerce market slated to cross $16 billion in 2015, its growth can only be described as meteoric. But it is no wonder that an entrepreneur would look at the overseas market for sales. Overseas markets offer some obvious benefits over the Indian e-commerce market. Firstly, the rate of exchange makes a huge difference when it comes to profit markups. Secondly, a product may find itself in a refreshingly unique position in an overseas market as compared to the oversaturation it might face in the domestic one.
The Indian e-commerce market is starting to realize the importance of this foreign investment. Of course, a lot of strategizing is required before making the decision to enter a foreign market. Doing so prematurely may be disastrous for your business. The important factors to consider before entering an overseas market are the trade routes, rates of exchange, recognizing potential markets, shipping costs, customs and taxes, etc. Once you have done these calculations and zeroed in on a potentially lucrative market, you can look for ways to enter it. There are many ways to enter the overseas markets. Having your own website is probably the easiest, although you would have to put in a lot of effort in branding and marketing it for a foreign customer base.
There are a few Indian online marketplaces that let you sell your products overseas. We have compiled a list of the top 5 such marketplaces.
Marketplaces that let You Sell Overseas
Amazon.in recently started allowing its third party sellers to sell their products overseas. Amazon is especially tapping the market for ethnic apparel, handcrafted items, shoes, yoga books, etc. for its US and UK customers. As of May 2015, when the service began, over 200 sellers had already started using it to sell their products on the global market. Amazon is especially looking at the 25 million Indians who live outside India as a viable target market.
eBay India also provides the service of letting its third party sellers sell their products overseas In fact in 2012, eBay rallied so that its online sellers with international sales would get an ‘exporter’ status, thus giving them various tax and customs exemptions. Selling internationally with eBay is quite easy, and the company provides a range of tools and tips for sellers wanting to do so.
The Chinese e-commerce giant Alibaba also facilitates Indian vendors to sell their wares on the global market. In fact, the number of Indian listings on Alibaba is second only to China. For its Indian venture, Alibaba has partnered with ICICI bank and the Indian logistics provider Mypacco.com.
The go to site for everything handmade also lists Indian sellers. Although this is just a one way street – Etsy does not deliver in India. Indian handcrafted products, though, are a hit on the platform, as witnessed by sellers like Everything Indian and Anek. Etsy does not provide shipping and logistics services for its Indian sellers, so these responsibilities have to be borne by the vendors themselves.
Craftsvilla is another Indian company that lets you list your products on the global market. Craftsvilla has already garnered a reputation in India and abroad for its tasteful and authentic handcrafted products. To be an internationally listed seller on Craftsvilla, you need to complete the VillaPay seller registration on their website.
These are some of the top online platforms that let Indian vendors sell their products on the global market. To know more about individual procedures or for any other queries, get in touch with Browntape. We are India’s leading e-commerce solutions providers and we are always happy to help!