More and more small businesses located in India deal with international clients or suppliers. Here is a brief overview of the most popular sectors:
IT
India is able to provide such a vast pool of skilled employees because of its population of over 1.3 billion people as of May 2016 and as more than 3 million graduates are added to the workforce each year. More importantly, India is the largest English-speaking nation in the world. So is no surprise that, in a 2014 survey, 6 of the top 10 outsourcing locations in the world are in various location in India, mainly Bangalore (Silicon Valley), Hyderabad (HITEC City) and Chennai
Start-ups are also on the rise with the government's providing various types of unsecured funding and grants. This is a partial reason why India is home to more than 3,100 startups and is set to increase to over 11,500 tech startups by 2020, according to a report signed by NASSCOM and Zinnov Management Consulting Pvt Ltd.
Mobile Games
Having two-thirds of the population under 35 years old and with over 220 million smartphone users, the mobile gaming industry is set to bring a lot of revenue to those who invest in this sector. As of early 2016, India has become the second-largest market for the device, after China, and has surpassed the US for the first time ever. The mobile gaming is growing rapidly in India, so much that reports say it will exceed INR 180 billion by 2018.
According to an article published on Entrepreneur.com, there were more than 250 gaming companies in India—10 times more than in 2014.
Export of Goods
In 2014 India was the 18 largest exporter in the world, with a figure exceeding $290 billion. During the last 5 years, the country has seen an increase of 12% year-to-year, from $165B in 2009 to $292B in 2014.
The top exports of India are:
refined petroleum ($53.9B)
packaged medicament ($12.1B)
jewelry ($11.8B)
rice ($7.75B)
cars ($5.82B)
The top export destinations are
the United States ($35.9B)
the United Arab Emirates ($29.6B)
China ($13.9B)
Saudi Arabia ($13B)
the United Kingdom ($10.6B)
FX Management For International Trading SME's
While small companies try their best to maintain an organized financial sheets and keep an eye on the cash flow, those which are trading internationally are often neglecting their needs for foreign currency management. As these companies are being paid in US Dollars, Canadian Dollars, British Pounds or any other foreign currency, and pay their expenses in INR, a slight change to the exchange rates can have a deadly impact on their businesses.
Companies like UK-based Currencies Direct (which even has offices in Mumbai) can help international businesses in many ways; from guidance on the market movements, to automated payments, receiving accounts abroad (for retailers), and FX options like Forward Contracts (that fix current exchange rates for the future).