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How to start import export business

How to start import export business

1) Company Formation

How to start Import Export Business
  • 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

How to start Import Export Business
  • 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

How to start Import Export Business
  • Client acquisition with digital marketing.
  • Product Branding(Labeling)
  • Online Web Presence
  • Buyer- Supplier identification

4) Terms Proposal Negotiations Agreement

How to start Import Export Business
  • 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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