Month: February 2005

The Indian e-commerce Industry has witnessed rapid growth from past few years and still growing very fast. Import export courses online knows better on how e-commerce has changed the world in today’s time and why it is important. Import export course in Ahmedabad will teach you how e-commerce started to gain popularity with no time.  The expansion of e-commerce started expanding from 1999, and speed up with increasing internet and availability and accessibility of smartphones.   According to IBEF, India’s e-commerce market has the potential to grow more than four times to US$ 150 billion by 2022.  The rapid growth of e-commerce in India is also because of GST, which has replaced the multi-tax regime with single tax system, which provide small sellers the opportunity to be in the competition and compete with large corporates, that too in the sale of goods and services.  If you are also in e-commerce business or interested in it than join import export consultancy services and give your business a new turn of success.  There are few e-commerce export policies that every e-commerce business owner should be aware of for the betterment of their future. The Indian government has revised some of the policy in the favour of business owners that you should be aware of.

Here we have explained you the new Export Policy of E-Commerce:

 

1 Separate e-commerce policy under logistic policy- To promote e-commerce government has included this in logistic policy. Through this policy e-commerce export logistic will become easy.  2 Increase in existing cap of INR 25,000 for courier exports- Till now cargo worth more than 25,000 was exported in commercial mode, which is a slow and lengthy process. Now you can courier cargo around 1 lakh through couriers which will be faster.  3 Dispensing RBI requirement of postal bill of exports against transaction reference number of consignment number- The documentation process is long and tough. Under this policy documents will be reduced and the process will be available online too and that’s a benefit for exporter.  4 Implementation of electronic data interchange mode at courier terminals- Government will introduce EDI system to all the international airports so you can export e-commerce from anywhere and the process will become easy.  5 Reducing transaction cost waiving off collecting fee on applications- Earlier exporter use to pay heavy amount even for a small courier or small transaction. Now Indian government will reduce the transaction cost to make it profitable.  6 Centralizing EDPMS with RBI for claiming MEIS- Commercial banks impose a charge of INR 100 per shipping bill for Bank Realization Certified (BRC) processing. Obtaining EDPMS data from RBI would eliminate the need to obtain BRC for claiming MEIS.  

7 Setting up air freight station- To support e-commerce government will build air freight station near airport. So, that cargo remains at the station, no load to airport and only ready cargo will move to airport.  8 Negotiating lower costs with international freight carriers- Start-ups and new business can’t afford high logistics. So, our government will negotiate international freight carriers and will provide a good rate to new exporter. This will make our product more competitive.  The Indian Government increased the limit of foreign direct investment in e-commerce to 100 percent in order to encourage foreign participation in the field (in B2B modes). 

Conclusion- 

The Indian e-commerce industry has expected to surpass the USA to become the second largest e-commerce market in the world by 2034. Hope you like this blog. To know more about e- commerce policy and to start an e-commerce business join Digital Exim advanced export import course.  To know more about import export business, join our webinar and get guidance by experts to start a new life.   https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do visit our Website! 

Imports are goods and services bought by a nation from another country for usage within its borders. Exports are goods and services made or produced by one country and sold to another and paid for by the latter. Learn import export online and know you can start your business in easiest way. Import and export business training makes it easy to understand the terms of export and import.   When countries import the same product that they export is called as two-way trade. It means international trade in which countries both export and import the same goods or products.  India is the largest producer of agricultural products in the world, yet it had to import the legume to export it. There can be many reasons of it like quality, variety, etc. To know more why we export the same product get and export and import training.  There can be many reasons a country imports the same kinds of goods and products that they export.

Here are some of the reasons mentioned – 

1 Cheap Rate-

Sometimes we find that the product we manufacture in our country is more expensive than the product we import from outside our country. People opt for international product as they find cost of importing product is lower than the cost of manufacturing it.  

2 Good quality-

It is not necessary that the products that are manufactured within your country are of good quality. People today don’t want to compromise on quality. They are ready to pay some extra money for good quality products. This is one of the major reasons to import the same product. 

3 Variety in Products-

If your country is manufacturing a cosmetic product in huge quantities and exporting it but people need more variety and want to try different products. No one wants to settle down with just one brand of the product. 

4 Seasonal products-

Imagine any fruit or vegetable that your country produces in huge quantities in summer but has zero production in winters, then you will import the same product once you were exporting. 

5 High export rate and low import rate-

A country may manufacture a high quality, high price product or service and export it. But at the same time to save money it imports a cheaper version of the same thing.   India is growing in terms of foreign trade. India exports have increased more than 16 times and imports more than 19 times in the fiscal year 2020-21. India’s import and export stood at US $394.43 billion and US $291.80 billion. 

In fiscal year 2020-21top exported items were- mineral fuels and gems and precious metals and at the same time top imported goods were- mineral fuel and precious stones and metals.  Top three export partner of India in this year were USA than followed by China and UAE. Whereas top the import partners of India were China, USA and UAE.  

Conclusion- 

Different styles of products can be adapted to different markets. Consumers like a diversity of international products. The appeal of buying foreign product is more exciting than buying domestic ones.  Two-way trade may be explained by variation in transportation costs and seasonal factors; it usually occurs in the context of models of imperfect competition in the same industry. Adjustment costs associated with expanding two-way trade may be lower than those associated with expanding one-way trade.  Our action speaks and experience work. Give your dreams wings with Digital Exim. To start your import export business, join our free webinar and start your trade in just 45 days with us.   To be a part of our webinar click on the link given below.   https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do give us a Visit!