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