How to start import export business
How to start import export business
1) Company Formation
- IEC License : Import Export Code is required for trading products and services to or from India. The IEC is a 10 digit number issued by Directorate General of Foreign Trade, Govt.of India.
- Firm Registration, Udyog Adhar / MSME registration
- Bank Account (CA & $): Global Trade Current Bank Account.
- RCMC Certificate : Its mandatory for Exporter to avail Service Exports from india scheme(SEIS) Incentives.
2) Analyse & Explore Market
- Agricultural and Processed Food Products Export Development Authority (APEDA) : Do APEDA registration. Registered members can participate in training programs organized for various products.
- Product analysis by market (Country wise) : Involves examining product features, costs, availability, quality, appearance and other aspects.
- Market survey SWOT analysis of product: SWOT analysis makes organization aware about all the strength and weakness.
3) Marketing and Business Development
- Client acquisition with digital marketing.
- Product Branding(Labeling)
- Online Web Presence
- Buyer- Supplier identification
4) Terms Proposal Negotiations Agreement
- Risk Management.
- pricing and Costing, Cost analysis, Quotation Preparation.
- Credit Insurance( Gov. Insurance Bodies).
- Marine Insurance.
5) Product Shipment
- Pre and Post Documentation of shipments, Bill Of Lading, Purchase Order.
- Inco Terms, HS Codes.
- Container types and loads.
- Custom Clearance for Export and Import, Custom house agents.
- Sampling and Packaging.
6) International banking ( Forex banking) and taxation
- Understanding mechanism and role of Letter of Credit
- currency risk management
- Goods and Service Tax & Neutralization in Export
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