India’s Trade Titans: 5 Tech Companies Revolutionizing Global Commerce Compliance

In the dynamic world of international trade, India has emerged as a powerhouse, showcasing a robust GDP growth projection of 6.0 to 6.8 percent in 2023-24. The recent PIB report highlights a pivotal role played by exports and imports, constituting over 35.6 percent of the nation’s GDP in the fiscal year 2023. This was an increase as compared to the previous fiscal year when the ratio of India’s total exports and imports of goods to the GDP was more than 33 percent.

This economic journey traces back to the strategic embrace of liberalization, globalization, and privatization policies, propelling India into the global trade arena. Fast-forwarding to the 21st century, the nation stands not only as a global player but also as a beacon of economic growth, largely attributed to pioneering companies. These industry leaders specialize in navigating the intricate landscape of business compliances for both import-export enterprises and MSMEs, fostering a seamless international trade experience.

Here’s an insight into the top five companies spearheading the charge in managing business compliances for India’s import-export ventures, ensuring they stay not just compliant but thrive in the realm of global commerce.

• Trezix

Trezix is a unified SaaS platform for importers and exporters across the globe. The firm comprehensively manages documentation, approvals, license usage, shipment tracking, and active notifications of businesses to ensure seamless operations. It offers access to a smart dashboard to its clients with real-time data on critical business metrics needed for effective decision-making. The current export and import process is manual and time-consuming, contributing to extensive losses and working capital management issues. Trezix was started to address these concerns with in-built technological solutions and increased efficiency. AI-powered platform connect cross-border and local logistics by automating operations and ensuring intelligent management

• Teamlease RegTech

TeamLease RegTech, is India’s leading regulatory technology company transforming Compliance Management for India Inc. Its SAAS platform helps corporate India to stay on the right side of the law. Its solution is trusted by over 1,500 entities, 25,000 enterprise users in 45 industries to create a transparent, accountable and timely compliance. The company was born with a vision to help India comply. A mid-sized Importer/Exporter manufacturing company deals with hundreds of Acts and thousands of compliances. Two out of five compliances have provision for imprisonment.Corporate India needs expertise and resources to manage thousands of compliances across corporate offices, registered offices, factories, plants, warehouses, sales offices, service centers and more.

• Kireeti Group

Kireeti Consultants is a professional consulting firm that offers a comprehensive range of services related to indirect taxation, including DGFT Liaisoning (EXIM), Duty Drawback (DBK), and GST compliance. Additionally, companies assist clients in securing industrial subsidies from various government departments.

• Shipsy

 We empower organizations in trade and logistics to accelerate business growth, optimize costs, and enhance customer experiences through our smart end-to-end global logistics management platform.. Shipsy’s intuitive platform provides complete visibility of first, middle, and last-mile operations, unlocking operational efficiency, and leveraging real-time analytics for informed decision-making. The company is a partner in our customers’ success, and takes immense pride in helping them optimize costs and boost profitability with our state-of-the-art solutions.

• OCR Global Trade Management

Our mission is to revolutionize the way companies handle their Trade processes with the help of OCR’s EASE solution. EASE offers customers a high-quality and user-friendly suite of solutions that are continually enhanced based on user input. We are dedicated to innovation, and our solutions are designed in accordance with industry standards and practical case studies, distinguishing us from our competitors. This approach allows us to create software that effectively addresses a wide range of real-time industry challenges.

Source: PR Agency