Exports are goods and services produced in one country and sold to different countries and get the payment for the same is export. Import is a trade in which goods and services are bought by a nation from other countries to fulfil the domestic needs. Goods exported from one country and imported from the other country together makes international trade. Export and import provide a trader a huge market area, more buyer/seller, more profit and many more. Import export consultancy services will help you to know more about international trade.
History of Exim Industry-
Exim Industry/ International trade was started in the 16th and 17th centuries. India witnessed its first foreign trade in the 17th century in the early years of the East India Company and was known as the ‘age of Mercantilism’. In the 18th century people saw liberalism. At that time India international trade was ruled by Dutch, French, English, and Portuguese traders. And in the beginning of the 19th century saw the shift towards professionalism.
Digital exim provides you best import export consultancy services with over 33+ years of experience in international trade. Our trade managers can solve your any problem with personal consultancy. Digital Exim provides India’s only Integrated Export, Import, Shipping, & Logistics Program.
Now moving forward with Trade myth vs Reality. We will be talking about:
7 common myths beginners have about export imports.
First myth that most people have is that Export or import is too expensive. Mostly people think buying or selling to a different country will cost a lot. Warehouse, employees, marketing will affect the pocket of traders. But in reality any export or import business can be started at a low cost and slowly you can expand as you start getting profits.
2 Too Risky –
Local traders think it’s too risky to export or import. What if they don’t get a buyer or seller, what if their product is not being sold? But reality is that even domestic trade is risky. In international trade we can reduce the risk by getting a letter of credit, making sure your buyer or seller is trustworthy, and doing some market research.
3 Hard to understand-
One of the common myths is that international trade is hard to understand. But There are many government portals available that help you to guide about documents, market targets, and products sold any more.
4 Domestic market is best-
Many think the domestic market is best. Domestic trade is good but you can get the best by international trade. Trading internationally provides you a big market, good profit and in exporting you also get some benefits from the government.
5 Language Barrier-
Knowledge of local languages is helpful but you really don’t need to know every country language you are exporting to or importing from. Usually English is enough for international trade and every product has a given code which is worldwide applicable.
6 More competition in International market-
Small business owners have a myth of more competition in the international market, But reality is the international market has less competition than the domestic market. Maybe the product you are selling in India is sold by 10 more people but there is a chance only 2-3 are exporting their product. So, basically it reduces your risk.
7 Getting foreign buyer or seller-
In today’s world it’s not difficult to get an international buyer or seller. There are many B2B portals from which you can easily get foreign buyers or sellers, contact them. You can conduct online meetings and discuss your business.
These are the most common myths and the truth behind that. So now it’s your time to go out and explore the world. Go global, expand your business and make more money. If you still have any doubts, the digital exim is here to guide you.
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