Month: February 2023

India is the world’s largest exporter of rice. India has the highest export volume of rice worldwide at 15.5 million metric ton. There are US $25 billion worth of rice imports worldwide in 2020. China is the largest rice importer in 2020, by importing rice worth US $1.5 billion (5.8% of the total import). Export is a lucrative business and you can learn it through import export training courses and start your import export business in no time.   Between April and October, rice exports rose an impressive 10.5% over the record exports in FY21, despite waning pandemic demand.   Due to a shortage of rice in some exporting countries and export restrictions in others, India’s rice is becoming popular on the global market for its lower price and higher quality.  Asian importers consumed the greatest amount of rice in 2020 with purchases valued at $10.8 billion, or 43.2% of the global total. African importers ranked second with imports worth 23.1% while European buyers obtained 15.5% of the global total.   

List of Top Rice Importing Countries in 2020: 

• China: US$1.5 billion (5.8% of total rice imports) 
• Saudi Arabia: $1.4 billion (5.6%) 
• United States: $1.3 billion (5.1%)
• Iran: $881 million (3.5%) 
• Philippines: $862 million (3.5%) 
• Iraq: $640.8 million (2.6%) 
• Benin: $635.9 million (2.5%) 
• United Kingdom: $619.9 million (2.5%) 
• Malaysia: $589.5 million (2.4%) 
• France: $588.1 million (2.4%) 
• United Arab Emirates: $560.2 million (2.2%) 
• South Africa: $546.7 million (2.2%)
• Japan: $503.6 million (2%) 
• Germany: $462.9 million (1.9%) 
• Canada: $445.1 million (1.8%) 

The major destinations of India’s exports of non-basmati rice are African and Asian countries. India also shipped non-basmati rice to Timor-Leste, Puerto Rico, Brazil, Zimbabwe, Burundi, Myanmar in 2020-21.   Saudi Arabia, UAE, Iraq, Kuwait, United States, UK, Yemen, Canada, Oman, Iran are the major destinations for Indian premium Basmati rice exports worldwide.    

Indian rice exports continue to expand in Africa, Asia, and the EU, thereby gaining the largest share of the global rice trade. The robust global demand also contributed to the growth of India’s rice exports.  Rice exports from India in 2020-21 grew 87% to 17.72 MT from 9.49 MT in 2019-20. Rice exports in FY21 rose 38% to $8.8 billion from $6.4 billion. Non-Basmati rice exports were $4.8 billion, while Basmati rice exports were $4 billion.  In the first seven months of 2021, India exported 12.84 million tonnes of rice, up 65% from a year earlier.   China bought one million tonnes last year, and the order could be repeated. 

 Conclusion-  

Besides the traditional Indian customers, China, Vietnam and Bangladesh were also the rice importers of India.   For the first time in three decades, China has begun importing rice from India due to tight supplies and sharply discounted prices. For the first time in three decades, China has started buying rice from India and may increase its purchases next year, depending on quality.  Join import and export business training by Digital Exim if you also want to start your international business.   For more, you can also attend our live webinar. To join click the link given below.   https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8  Do give us a Visit! 

Rice Importing Countries | Rice Export

The Government of India introduced e-SANCHIT to allow paperless processing and uploading of supporting documents. Know more about e-Sanchit with online import export course and take a step ahead to start your import export business.   Indirect tax documents are stored electronically in e-SANCHIT, which allows traders to upload all supporting documents digitally, enabling them to obtain clearances without contacting other regulatory agencies for permission.   e-SANCHIT was launched on a pilot basis by the Central Board of Excise & Customs on October 20, 2017 via circular no.40/2017-(Customs).   To reduce the physical contact between customs and trade, e-SANCHIT was introduced to allow importers and exporters to upload documents via the ICEGATE portal.  

PGA (Participating Government Agencies) registered on ICEGATE can upload their LPCOs (Licences, Permits, Certifications, Other Authorizations) using e-SACHIT if they have a valid digital signature certificate.  As soon as the PGAs upload the LPCOs, the system generates an IRN which is communicated electronically to the trader, using the email address provided by the trader on the ICEGATE portal.  

Benefits of e-SANCHIT: 

• Paperless Processing- By submitting the ‘Integrated Declaration’, traders can submit their supporting documentation to the PGAs via e-SANCHIT. This declaration collects all the information needed to secure clearance from six different government agencies.  
• Increase the speed of clearance- In addition to reducing costs and increasing efficiency of import and export procedures, paperless processing eliminates the headache of physically visiting various government departments. 

Steps for Uploading Documents on IceGate-  

• Log in to ICEGATE website. 
• Select e-Sanchit 
• Upload Documents 
• Select the document types for each
• Validate the document for digital signature 
• Submit document to generate INR’s  

Conclusion-

The e-SANCHIT system was launched as part of SWIFT to introduce paperless ordering. SWIFT is the Single Window Interface for Facilitating Trade.  As a result, hard copies of various documents do not need to be submitted physically, and the entire process of consignment clearance is now faceless and paperless.  Hope this export-import blog helps you understand about e-Sanchit. To know more you can join import export training classes provided by Digital Exim and give a kick start to your business.   You can also join our live webinar just by clicking the link given below.  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do visit us to learn more about International trade.  

Name and logo are what makes any brand. It is important for your business name and logo to reflect the value you offer your customers. If they are chosen well, they will remain in your customers’ minds and remind them of the value you provide your customers. Learn import export online for convince and learn how you can choose an effective name for your business. Name and logo work same as oxygen works in our body. Hope now you understood the importance of right name.   Here in this export import blog, we will discuss some steps to select an effective yet functional name for your start up. Follow these steps to choose name of your company.   

1 Have a Different Name than your Competitor’s Name-  

While you’re searching for a unique name, keep an eye out for similar names being used by your competitors. Avoid choosing a name that might confuse your business with another regional business of the same kind. 

2 Name which People can Spell and Pronounce-  

Businesses with names that are long, hard to pronounce, or difficult to spell tend to lose customers. A simple, memorable name boosts sales. So, stay away from words that are hard to pronounce, hard to spell, or hard to remember.      

3 Name that’s Consistence with your Brand-  

What makes your business unique from others? Can you offer great customer service? Knowledge and expertise? Where is your ideal customer or client located? Before choosing a business name, decide what you want it to stand for.  Choose a name that makes your business obvious to your potential customers, so they will not have to guess what you do. Write down the name you want on paper and speak it aloud. Before making a final decision, determine whether you truly like the sound and appearance of it.  

4 Make a Web-friendly Name-  

It’s likely your business has a website and a Facebook page. You may also have social media accounts on different platforms. Try to request a domain name that is same or close to your business name, as well as social media accounts.   If your domain name is complicated or long, it will be hard for your potential customers to find you online or type your name correctly in an email. Keep it short, simple, and rememberable. 

5 Think out of the Box- 

Be careful not to get too specific when choosing your name; if you expand your offerings, you might end up with a name that is inappropriate. Make sure your name fits your business as it grows and changes. 

6 Do a Trademark Search- 

Ensure that the business name you want does not already exist. You can contact your state’s business registration or fictitious name agency to find out whether the name you want is already taken. Check if the name you want is trademarked, meaning you need to choose another name.

Steps to Choose a Company’s Logo-  

1 Selecting a Logo-  

Make sure the logo you choose isn’t similar to the one your competitors are using. You want it to stand out as unique in the minds of your customers. 

2 Image Style-  

Choose a logo that best represents your business and yourself. Decide what image you wish to convey through your logo. The logo should imprint that image in your customers’ minds. 

3 Originality- 

You should pick a logo design that stands out from a crowd within your industry. Do your research and see what else exists so your logo design will stand out from the rest.    

4 Appeal-  

Ensure that your logo is suitable for your business cards, letterhead, and corner of your website before you make your choice. Think about your customers’ perception of color and match your logo with such colors. 

Conclusion-  

Business owners should give their business a lasting identity that will reflect their audience’s trust and sense of trust. Popular and catchy names are often taken. For your convenience, you can explore online tools that help you filter the best business names that you can use to make your work easier. Hope you get a clear glance on how you can choose a right.   To know more about how to finalize a company name and logo join our export import business training and get your problem solved.   You can also join our live webinar to start your business. Click the link to join  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do give us a visit! 

 

Export import is a lucrative business but running an international business is tricky. Trading is one of the most flourishing trading businesses that have been able to provide high profits or returns at a global level. There are a lot of challenges you will face before you become a successful importer or exporter. There are some mistakes you may make that could adversely affect your operation. Import export training classes are best to understand international business.   Every business has its own disadvantages, so the Import Export trade is no different. It has its own challenges. If you want to succeed as a supplier or buyer in the Import-Export Industry, you must avoid the errors mentioned below. 

Not keeping records-

It is important to record every step of every transaction. This is helpful in several ways; for example, many payment methods require that you provide document evidence before you can get paid. When you have all relevant documentation in order, this process goes quickly and smoothly. 

Not Doing Proper Market Research-

Often, exporters enter new markets without doing a thorough market research, which may lead to marketing problems and incorrect distribution channel choices.   It is imperative to research the local market before launching the product in a foreign market, understand the preferences of customers, and localize the product to meet the needs of the target market. 

Lack of Knowledge of Incoterms-

Incoterms are essential for use in contracts involving international trade. Failure to understand the responsibilities or costs attached to a particular Incoterms will cause you to receive an underpayment from the buyer or to overpay your supplier. 

Not verifying your buyer/seller-

A failure to conduct a background check on an international business partner can result in financial damage, market erosion, and even reputational damage. Exporters must conduct a background check themselves or hire an agency to do so.      

Wrong service providers-

The success of an export shipment depends on how all of the participants complete their assigned tasks. Banks, freight forwarders, shipping lines, and intermodal transport providers are just some of the parties who are involved in the export process.   When an exporter seeks service providers, he must look for reliable companies that can cater to his business requirements at a competitive rate and within a reasonable period of time. 

Conclusion-  

A small mistake can lead to a higher risk, which lowers the profit margins that the business can earn from imports and exports. Therefore, small mistakes should not be ignored. To know more about join our import export courses online and start your international business.   To avoid such mistakes and to know more about import export business join our live free webinar. To attend our webinar, click the link given below.  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do give us a visit! 

In response to the question of how you make a business a success, there are a thousand questions that arise. One thing remains common for all new or developing businesses, the dream of going international. In this export-import blog, we are going to discuss how you can achieve success in your business.  In a competitive market environment, it is important to know how to deal with concrete problems as well as market yourself successfully. Check out import export business training and take a step ahead to start your trade journey.   Here are some important factors you should never miss to become a successful trader-  

1 Research-  

Research is the key to your new export journey. Do in-depth research on your industry, market, product everything. Many studies can be conducted independently online and some require a more hands-on approach, such as comparing potential markets and understanding buyer trends. 

2 Documentation & Registrations-  

To start the business, you will require certain documents and licenses. Take care of your company registration/Incorporation certificate or complete any important document for export business.   You should have a solid set of documents, including business registrations and certificates, to cement your company’s identity as a trustworthy and honest company.  

3 Make a Business Plan-  

You require a small business plan as part of your start-up process because you must be specific about your concept, operations, funding, and sustainability.  Essentially, your business plan is the culmination of your grand vision, providing a practical set of strategies that investors can understand.  

4 Marketing-  

Marketing your products goes hand in hand with any business operation. Finding the right tools is extremely important for your business.  Nowadays social media is one of the best mediums to grow your domestic or international business. You can do marketing or promote your business through different social media platforms.   Marketing helps establish a brand identity, attract new customers, and stand out from the competition. 

5 Set Business Goal- 

Without a clear definition of success, how can you know if you’ve achieved it? Setting goals will help you do that as well as guide your time management.   Make goals to achieve every year. Know your potential. If you are not reaching your goals then you have to change your business plan as it is not working out.   In business, goal setting is crucial for our success because, if we don’t know where we are going, we may end up in the wrong place.  

6 Verify your clients-   Verifying your client’s digital trail through the web is very important, as is scheduling as many video calls as possible. Selecting a reliable mode of payment and shipping terms are equally important. 

7 Choose people wisely-  

Your management team must have skills that complement one another. Good leaders recruit the best experts for each area of operation. It is okay to hire professionals with more experience than you in their respective fields. 

Conclusion-  

The key to success is not simply coming up with a good idea. Instead, successful entrepreneurs analyze the market, plan realistically, and mobilize their forces to achieve their goals.  If you are the one who wants to start an export-import business then join our advanced online program and start your business sin less than 60 days.   Interested ones can also join our live free webinar. Click the link below to join the webinar  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do visit our website for more details! 

The Bill of Lading is used in international trade in export and import shipments via sea. What are the 3 major importance of the Bill of Lading in export and import trade? Let’s take a look. Know more about international import and export and start your business with us.  

Evidence for a carriage contract:  

A Bill of Lading serves as evidence for a contract of carriage by the sea. It means that the Bill of Lading is proof of shipment under the sea mode of transport. 

Proof of receipt of shipment by carrier: 

The document represents receipt by the carrier of goods shipping to an overseas destination. Once the export customs procedures in a country have been fulfilled, the cargo is turned over to the shipping company who will ship the goods to the final destination. Bills of lading are issued by carriers or their agents as proof of receipt of cargo. 

Bill of Lading is a document of title: 

This document provides proof of shipment in various authorities. It is a legal document that is approved under Negotiable Instrument Act. If the original bill of lading is not present, the goods cannot be delivered at their destination.  Did you enjoy our article? Do share your experience in the comment section. The information provided above is part of our Online Export Import Training course. 

For More Knowledge Read Our Article On- 

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What Does DGFT Grant to Indian Importers & Exporters?

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FCL stands for Full Container Load. Exporters who have goods to pack in one full container load book a full container load (FCL) to receive their cargo. The term FCL refers to the complete contents of the container, usually owned by one shipping company. Learn export and import online to know important terms of international business.  The cargo in an FCL owned by one shipper does not need to have fully loaded cargo in the container. Even if the cargo in the container is half-filled or simply quarter-filled if booked by one shipper under one shipment, that said shipment will be called an FCL shipment.  FCL is less likely to result in damaged goods since the container contains only your goods. FCL is delivered faster than LCL.   However, FCL is cheaper per unit. Also, import fees are fixed, meaning that they don’t change with volume so that payment is the same regardless of size.   Because it will be shipped to a single consignee, the cargo can be of any type of product, like toys, commodities, or machinery.   Have you figured out what is FCL? Join our online import-export course and learn more. Comment below with your thoughts on this article.   The above information is a part of our Online Training Program.  

For More Knowledge Read Our Article On- 

What is Mother Vessel and Feeder Vessel  What is co-loading? What is ICD? 

What is SWOT Analysis and Why it is Important for Business?

Role of Indian Embassy in Export ImportWhat is ICD? What is Registration Cum Membership Certificate? What is DGFT and Its Role? What is a Bill of Exchange? What is a Letter of Credit? 

What is a Bill of Lading? 

What is High Sea Sales? 

What Does DGFT Grant to Indian Importers & Exporters?

Watch Our YouTube Videos On-

https://www.youtube.com/watch?v=VScrxHzZlM8&t=1shttps://www.youtube.com/watch?v=SnTU4k5Oi30&t=4shttps://www.youtube.com/watch?v=I0kdhrV-rio&t=2shttps://www.youtube.com/watch?v=Ibp6D05rEeghttps://www.youtube.com/watch?v=1gOqwSP_dWc&t=311s