In 2010/2011 we first saw rocketing inflation and material prices. Followed by the financial crisis which saw the INR drop almost 26% against the USD (and Chinese currency getting stronger) in a very short amount of time. This effectively meant Chinese products became 20% to 30% more expensive!. However, as domestic products also appreciated marginally; Hence, Importing from China is highly profitable – even in the worst of times. So our attitude is this: if people can start a profitable business in the middle of a recession there’s never a bad time to start importing from China!
The financial crisis lead to the biggest global recession in recent history. Yet, despite this in 2009 WeDoImport doubled its turnover, number of staff and profit. The reason for this is simple: the vast majority of our customers thrived!