Thursday Nov 30, 2023
Ever surprise why India is rising as the brand new frontier in e-commerce and Amazon product sourcing? We welcomed seasoned sourcing skilled, Lokesh Parashar, to make clear this pattern. Lokesh, along with his 30 years of expertise, unraveled the huge alternatives, potential returns, and occasional hurdles when sourcing from India. One key takeaway from Lokesh was the worth of investing not solely within the product but in addition in the neighborhood by actively collaborating in occasions and fostering relationships throughout the e-commerce sphere.
Taking a more in-depth have a look at the sourcing panorama, he shares his expertise on how he made a exceptional transition from manufacturing unit proprietor to supplying giants like Walmart. The challenges confronted after the 9/11 tragedy, his transfer to Canada and subsequent return to India as a consequence of his spouse’s medical situation, and his eventual enterprise into sourcing for small companies added a deeply private contact to his fascinating journey. His takeaway was clear: opening his personal US-based firm makes monetary transactions smoother and might even open doorways to turning into one of many largest consulting corporations connecting Indian factories and the US.
We could not depart the subject of sourcing with out evaluating India and China. Elements like pricing, high quality, enterprise assist, and even labor prices have been laid on the desk. We found that whereas China has an edge in infrastructure and logistics, India isn’t far behind catching up. We additionally underlined the significance of constructing private relationships with manufacturing unit house owners and taking the time to go to these international locations. Lastly, an interesting dialogue concerning the significance of making a federation for sourcing brokers in India and the way their distinctive program lets Amazon FBA enterprise house owners get an Indian sourcing journey with simply $999 all-in. Come be part of us on this journey, and who is aware of, you would possibly simply uncover your subsequent huge enterprise alternative.
In episode 371 of the AM/PM Podcast, Kevin and Lokesh focus on:
- 00:00 – Amazon Product Sourcing Alternatives in India
- 00:22 – Manufacturing Advantages in India
- 07:13 – Profession Transition Into Exporting and Manufacturing
- 09:57 – Sourcing and Exporting in India
- 12:13 – Relocating to Canada, Looking for Medical Choices
- 16:08 – Evaluating Sourcing in China and India
- 22:56 – India’s Revolutionary Blended Materials Merchandise
- 23:09 – Significance of Visiting India and China
- 26:12 – Chinese language Factories in Different International locations
- 31:25 – Reasonably priced Ecom Vendor Journey to India
- 33:15 – Federation of Shopping for Brokers, Commerce Reveals
- 47:24 – No Catch in This Nice Provide
- 54:06 – Benefits of Increasing to India
- 58:24 – This Week’s Phrases Of Knowledge From Kevin
