2019 Insights on Indian Tender Industry
Explore 2019's Indian tender industry insights, economic impacts, and SME opportunities.
2019 was pivotal for the Indian tender industry, marked by significant economic and political events. As we transition into 2020, understanding these changes provides valuable insights for stakeholders in the tender ecosystem.
Indian Tender Industry Insights 2019
The year witnessed widespread protests, state elections, and a notable economic slowdown. Our analysis of the tender industry reveals a decrease in high-value tenders, reflecting broader economic stress. Tenders valued over INR 1 Cr fell to 6%, down from 8% in the first half of the year. Yet, optimism persists for a rebound, fueled by the corporate tax rate reduction India 2019 and governmental measures.
Economic Slowdown Impact on Tenders
The economic slowdown was evident as high-value tenders diminished. However, the government's focus on SMEs cushioned this impact. Despite fewer large tenders, the total number released increased with an average growth of 5% monthly. This indicates sustained SME government support India 2019, crucial for the sector's resilience.
Maharashtra and Uttar Pradesh Tender Contributions
Maharashtra and Uttar Pradesh remained dominant in tender issuance, contributing over a quarter of all tenders. Public Works Department tender analysis shows these authorities as leading contributors, reinforcing the government's commitment to infrastructure development.
SME Business Opportunities India 2019
SMEs are increasingly searching for new business opportunities, evidenced by growing platform user numbers. The surge in mobile traffic highlights the effectiveness of a mobile-first strategy for SMEs, with 80% of traffic now mobile-based. This aligns with the rising trend in SME tender search trends 2019.
Embracing Digital: E-Tenders for Small Businesses India
As SMEs go digital, the demand for e-tenders for small businesses India grows. Our platform supports this shift, offering tools like joint venture bidding opportunities and tender evaluation tools online.
Call to Action
For more comprehensive insights and to explore how TenderX can streamline your tender search process, visit our website and sign up for our services. Stay ahead in the competitive tender landscape with our expert guidance and resources.
Discover the full report and stay informed about the Indian economy rebound expectations 2020. Let us assist you in navigating the tender industry with expertise and innovation.