Low Cost Country Sourcing INDIA & VIETNAM

LCC India

About India

Location: Located in southern Asia, India is the seventh largest country in the world.
Capital: New Delhi
Official Language: Hindi and English
Currency: Rupees
GDP: 2.61 Trillion USD (2017)

Major Exported Categories

  • Aluminium Articles
  • Leather Saddlery and Harness
  • Engineering Goods
  • Ceramic Products
  • Plastic and Rubber
  • Natural Pearls (Gems and Jewellery)

Key Points

  • 65% of the population is 35 years or younger
  • Data and intellectual property security and privacy laws relating to intellectual property and patents are strong and improving. IP theft is less of a concern in India. 
  • RM Cost-India is one of the cheapest source for iron ore, aluminium and other non ferrous raw materials.
  • Widely used English language.

LCC Vietnam

About Vietnam

Location: Vietnam is located on the eastern coast of the Southern Asian Indochienese Peninsula.
Capital: Hanoi
Official Language: Vietnamese 
Currency: Dong
GDP: 223 Billion USD (2017)

Major Exported Categories

  • Telephones and their parts 
  • Machinery, Instruments, Accessories
  • Rubber
  • Footwear
  • Textile and Garment
  • Electrical/Electronics machinery

Key Points

  • Construction of US $600 million Vietnam Space Center by 2018 
  • 40% of the population is 25 years or younger
  • Vietnam has attracted total registered foreign direct investment (FDI) of US $300 billion in 2016
  • Digital Savvy- the smart phone penetration is 26% of the population