For chemical importers and polymer suppliers in India, it is very important that they have complete knowledge of the foreign trading standards which are dominant in the country, when they are starting off in the business. This knowledge will help them go smoothly about their business and will avoid any problems in the future, when they are importing and exporting chemicals from the country. However, for someone who is planning or is already a big name in the chemical industry, just basic knowledge of rules and regulations is not enough, these chemical importers and exporters as well as polymer suppliers need to have in depth knowledge of the structure of international trade system of India. In the last decade the country had a poor trading scenario, however in the international chemical market today, India is considered to be an important trade destination, as it is amongst the top most chemical suppliers in the world.
Before the year 1991, chemical importers or exporters and polymer suppliers found it almost impossible to conduct business in the country, as the Government had imposed some really high duty fees and many restrictions on conducting business with foreign based companies. And because of these exorbitant excise duties as well customs duties imposed by the relevant authorities, foreign companies were not very interested in doing business with Indian exporters and importers. Therefore, the only companies and enterprises who were able to conduct business on the global trading platforms and make a profit were the big players, who had huge capital to invest. All this created a situation where small businesses were deprived of worldwide exposure as the trade was limited to the large business houses. However, all this changed when the country began to have a revolutionary change in the industrial sector which in turned improved the image of India in the global market.
The year 1991, proved to be historic for not just chemical importers but every importer and exporter in the country. In this year, the Government reduced the custom and excise duty which opened up the Indian market for foreign traders. The concerned authorities also brought about necessary changes and modifications in the new Economy Policy, which had norms that made it easier for importers and exporters to conduct their business with global traders. Today, India is amongst the top most destinations for global trading and has good business relations with a number of countries. A lot of well known chemical importers and exporters like KPL international are successfully operating in the world trading of various kinds of chemical globally.. These chemicals are required for various purposes by businesses all around the globe and the Indian traders ensure that superior quality standards are maintained in their goods.