Unleash The Power of Business Intelligence Through Analyzing Trade Data And Grow Your Business

India is one of the largest Asian countries with trading relationships all across the globe. Most of the trade-in India happens through seaports and airports. All shipments travelling into India and shipments going out of India to pass through customs at the ports and airports. This customs data can be accessed by getting India import data and India export data. This data contains shipment wise information of every product trade happening in India.

The information that India import data contains consists of:

• Shipment Date
• Consignee name and address
• Shipper name and address
• HS / ITC Code of the product
• Product Description
• Foreign Port of Discharge and the Indian port of arrival
• Quantity, Price, Value
• Custom Duty applicable if any
• C.H.A if any.

Similarly, the important fields that India Export Data provides are:

• Shipment Date
• Port of Discharge, Port of Arrival
• Shipper Name and Address
• Foreign Buyer and Address
• HS Code and ITC Code
• Product Description
• Quantity, Price, Value

Thus, the Indian trade data could provide you with shipment wise information of all goods imported into and exported from all Indian ports and airports. This information could be a goldmine of information and thorough analysis of this data can lead to valuable insights that can be useful for increasing business. Here are some ways in which the India import and India export data can be used:

• Identify Customers — Since the India import and export data have a consignee field for every shipment, you can filter out product wise information from the data and list out the names of companies using a certain product. This helps you identify all the customers and traders buying a particular product and then you can create strategies to tap every customer
• Track Pricing — Since prices of products depend on the international prices, access to trade data can help you understand what are the prevailing local and export prices of a particular product. This can then help you outprice your competitors and gain market share. Analysts can use the pricing information and understand the long term trends for a particular product or a group of products. Traders can benefit from such pricing information and can stock goods, the prices of which they see are increasing.
• Competitor analysis — You can analyze what your competitors are doing using the trade data. A thorough analysis of pricing, volume, and country-wise data can help you identify which areas the competitor is focused on and where there is an opportunity for you. Suppose, you take the Paraguay trade data and identify a list of all manufacturers manufacturing a particular product, you compute the approximate margin of products these manufacturers are earning, and then help you decide whether to outprice Paraguay producers and take on competitors from another region. The data allows you to take tactical and strategic decisions w.r.t which competitors you can outprice and which manufacturers are not worth competing against.
• New Product Search — One of the most useful ways of using India trade data is to identify new products and understand their potential in terms of volumes and value. Analysts can list historical data of products demanded in India, understand their prices, the quantities imported, and then come out with reports of the potential of various products in India. These reports can act as a basis on which entrepreneurs can plan manufacturing facilities, thereby allowing new businesses and plants to crop up in India.
• Understand the geographical spread of demand for products — Since the India import data is available ports, you can understand the demand of a particular product in a particular region. This can allow you to develop strategies to target a particular region.
• Forecasting for Equity Market -Equity market analysts thoroughly analyze the India import and export data, filter out the trading data of individual companies, and forecast their performance for the previous quarter. Before the quarterly results are announced, analysts can get some level of information about the company’s performance through trade data and allow them to bet appropriately.

India trade data is one of the cheapest sources of valuable information to track the performance of Indian businesses. Not only it helps at the macro level in understanding the product categories which are imported into India but also allows you to understand where opportunities lie for Indian exporters. Government officials use the China Export Data and the India import data together to come out with recommendations for the Indian government to come out with incentives for particular categories of products where other countries say, for example, China is dominant. Thus, India trade data could be a basis for policy decisions. At a micro level, the trade data helps businesses price their products appropriately, enable them to take tactical and strategic decisions, and identify new opportunities. This data not only helps manufacturers and the government but also helps create new traders and entrepreneurs. The data can help a new trader in a particular industry understand the industry dynamics in a short span of time, help the trader identify gaps and opportunities for a particular product in a particular region, and start his / her trading business. The India trade