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Do you also wonder what is BAF & CAF and how does it work in international business? So, Let’s begin with the difference of both the factors. For more details get connected with export import training.   BAF stands for Bunker Adjustment Factor, and CAF stands for Currency Adjustment Factor.   BAF and CAF are generally attributed by sea shipping carriers. These are fees added to ocean freight at various times depending on the destination. 

What is BAF? 

Fuel factor costs supplement ocean freight by shipping companies when oil prices fluctuate globally, therefore, requiring the BAF surcharge on the ocean freight. This surcharge is added up on the ocean freight by shipping companies to supplement fuel factor costs and is termed as BAF. 

What is CAF? 

The CAF is a charge added to the basic ocean freight by sea shipping carriers as a result of fluctuating exchange rates. CAF is a part of ocean freight that balances and caters against differences in currency value fluctuations. It is an adjustment factor applied to freight rates to minimize or control losses or gains.   In short, the main difference between BAF and CAF is that BAF is related to oil prices, while CAF is related to foreign currency prices.   Did you like our article on BAF and CAF? This is a part of our online course. Join our online import export course and know more.    

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Difference Between High Sea Sale and ImportsWhat does a Line Number in IGM mean?   What is IHC- Inland Haulage Charges? FIRC In Export And Import Business Documentation of High Sea Sales What is Triangular Shipment ?What Is E-Commerce Under GST?  What Is Port Of Discharge And Place Of DeliveryDifferent Types of Export Containers What is FCL in Export Import? Steps to Become Successful in Trade for Start-ups 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 Registration Cum Membership Certificate? What is DGFT and Its Role? What is Bill of Exchange? What is a Letter of Credit? 

What is Bill of Lading? 

What is High Sea Sales?  What Does DGFT Grant to Indian Importers & Exporters?

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Bill of Lading is a detailed receipt issued by the carrier to the consignor. Bills of lading are contracts between a carrier, consignor, and consignee that must be signed by all three parties or any designated representative on their behalf. Export import course online are one of the best places to learn international trade. Import and export business training explains the best of Bill of Lading.  The carrier is the one who transports / is in charge of the ship while the consignor is the one who owns the goods. It confirms that goods have been received and are ready to be shipped. It is an important legal document. Bill of Lading, BL, and BoL are same terms. Import and export courses will explain you the importance of BoL.  Bill of lading specify the particular carrier by which the goods are being sent to their final destination, as well as the conditions under which the goods will be transported to their final destination. Land, ocean, and air are the three modes of transportation.  There are many types of Bill of Lading. Here we have discussed some types of Bill of Lading used in international trade-

Types of Bill of Lading- 

1 Ocean Bill of Lading-

When goods are transported worldwide, an ocean bill of lading is required. Carriers issue these documents to consignors after they have completed all customs paperwork and payments. 

2 House Bill of Lading-

Ocean Transport Intermediaries (OTIs) or Non-Vessel Operating Common Carriers generate this Bill of Lading after receiving and inspecting cargo for the supplier. It can also be called as forwarder bill of lading.  

3 Seaway Bill of Lading-

When a consignor issues a Seaway Bill of Lading, he or she does not need to control the cargo’s release. Such contracts are non-negotiable documents. 

4 Master Airway Bill of Lading-

Airline bills are issued by airlines or freight forwards upon delivery of a shipment to ensure deliveries as agreed. In common terms it is also called as MAWB.  

5 House Airway Bill of Lading-

The house air way bill of lading is issued by the freight forward to the consignor once the shipment has been received. In this case, the freight forwarder books the same shipment with the main airline carrier and receives MAWB.  

6 Switch Bill of Lading-

In triangle trade, switch of landing is often used when the supplier’s information needs to remain private. A second bill of lading is then created and the first is replaced with required information.

> In one sense, it is a contract between the shipper and the carrier for the transportation of goods, but in another, it is a receipt issued by the carrier to the shipper.  > Essentially, it is a document of title that enables goods to be sold in transit and financial credit to be extended. 

Conclusion-

Bill of Lading is a proof of receipt of shipment by carrier. BoL contains all details of carrier, consignor, and consignee, goods loaded and destination details, details of goods and delivery date. Join import export consultancy services and start your journey as a successful trader.   Join Live webinar by Digital Exim and know how you can start your export import business. Click the link given below to attend our webinar.   https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do give us a Visit! 

Import is International trade in which goods and services are bought by a nation from other countries to fulfil the domestic needs. Import and export courses online know better about business in Qatar. Learn import export course in Ahmedabad with experienced people in the Industry. There are many products that you can import to Qatar and start an import business. Qatar has led to shortages, especially in the food sector. Every country lacks some resources. You just have to find that and implement creative ideas to import and sell those products. To start a business a commercial registration by enrolling with the Ministry of Economy and Commerce (MEC) for the trading purpose and also become a member of the Qatar Chamber of Commerce and Industry.

Here is the List of Products you can Start Importing Business with:

1 Iron and steel 2 pharmaceutical products 3 Cereals 4 Rubber and articles 5 Fresh Vegetables and fruits 6 Clothing and accessories 7 Footwear 8 Meat 9 Leather products 10 Textile articles 11 Organic chemical 12 Dairy products 13 Kitchen or household articles 14 Rice 15 Baby Food   

The Top 10 Exporter of Qatar are-

• USA
• China
• UK
• Germany
• India
• Italy
• Turkey
• Area Nes
• France
• Japan

Qatar is still an emerging market. I believe with proper guidance and management almost every product can be successful in Qatar.  If you are a citizen of Qatar and want to start a business, one of the best ways to figure it out is to ask the people of the country or around you. Then you will find out is there any product they use regularly that can be imported outside the country?

India and Qatar Trade Relation-

India is the fifth largest export of Qatar. India and Qatar have shared a bilateral trade for years. The bilateral trade between both the countries in 2020-21 stood at US $9.21 billion. India export to Qatar was US $1.28 billion and India import from Qatar was US $7.93 billion. In the last 24 years the exports of India to Qatar have increased at an annualized rate of 17.5% from US $29.3 million to US $1.41 billion.

 Best Products to Export Qatar from India-

The main products exported from India to Qatar were-

• Rice
• Jewellery
• Cars
• Electronics
• Iron & Steel
• Plastic
• Vegetables
• Cereals
• Fruits
• Spices
• Processed food products

Qatar’s exports to India include LNG, LPG, chemicals and petrochemicals, plastics, and aluminium articles. Qatar is the largest supplier of LNG to India, accounting for over 50% of India’s global LNG imports.  If you are finding any difficulty in starting a business in Qatar by importing from other countries, the Digital Exim is here to guide you and kick start your business. Digital Exim will help you in A to z of starting your export or import business. We are here to help you out in setting up your business company. We have trade managers with years of experience in international trading, who are here to solve your problems. Join Digital Exim and know when and where you can start your export import business.   Do give us a Visit!  

Foreign trade frauds do happen in an International Trade. The Question arises, how to avoid them? How to avoid such International trade frauds? Let’s check in details & try finding ways to avoid them as well. 

“A scam is a scam. A fraud is a fraud. Different rules don’t apply in the City than they do for you and me.”

– Emily Thornberry

Frauds & crime in International business might take place. You never know. Your foreign buyer may bluff you before the deal. Your Buyer may include your deal in foreign trade frauds. Many people are scared to start export imports just because of these things. It’s Vital to stay safe than sorry. No doubt, full practical knowledge is necessary. Let’s study some major foreign trade frauds:

1. Advance Payment Scam:

Buyer wants to take goods in 30% advance payment. 70%,  he would pay later. You send all the goods with proper paperwork & he does not pay further. This scenario happens in case of negligence in maintaining a proper system. In the export import business, both advance & after payment do happen. Nothing to worry much about, if you follow a proper system. Foreign trade fraud is a chapter that every exporter or importer should know & learn. After Payment is good. Advance Payment is more than good. Here, it is important for you to trust the other party in the right way. 

2. LOI ( Letter of Intent) Scam:

Here you may get huge orders of your product. Frauders might want the orders in a very huge quantity. They will ask you to fill up a vendor registration form. They will ask you to just pay Rs. 70,000 For that particular form then the order will be confirmed. In case, you pay the amount then your amount will be gone forever. This does happen in the list of foreign trade frauds. 

3. Mails:

In the export import business, the frauders can approach you through mail. The mail body might look 100% professional including the content. They might just ask for some xyz amount in order to start an export import deal. That’s false! I know that no one would ever make a payment before cross checking. But as we say “better be safe than sorry”. 

4. Letter of Credit Scam:

Buyer might say about 30% of advancement. 60% of LC (Letter of Credit) & 10% will be done after he receives the goods. Say No to them. Ask them to do 30% of Advance payment with 70% LC. End of the debate! What might happen is that the 10% of payment could be unpaid. Yes, you heard that right. Such things do happen in International Trade Frauds. 

5. Online World Scam 

Big foreign trade frauds might just start with one click. The Online World! In B2B portal, there is a huge amount of information involved. You might see well known products at lowest costs. Sounds interesting? Ofcourse, it does. Fake websites, posts, social media posts might just grab your attention. Remember, there is a thing called ‘Foreign Trade Frauds’. 

Overcoming Foreign Trade Frauds

Payment: 

The most important thing is to avoid advance payments. There is no rocket science involved here. You are just about to deal in International business, that’s enough to say. Before cross checking, there is no option of paying in advance. Also, while paying it’s important to use better protection like; letter of credit. Here, proper paperwork is must. 

Sample: 

Before ordering full goods, ask for the sample. Getting sample orders would help you to check the quality & proper verification of products. 

Country Visit: 

If you have enough time & cost, you can visit the location. Visit the location of a partner or cross check with any third party. 

Price: 

If any party is offering the products at the lowest price, be careful. You cannot just by looking at it but yes be careful. Keep in mind, foreign trade frauds do exist. 

Internet:While cross checking & researching, just research each & every thing on the Internet. 

What To Do if Things are not in your favour

International trade frauds never arrive before informing you over a phone call. Don’t just feel that now there is no way. There is always a way! Save yourself from foreign trade frauds by doing various things. Just make sure that everything is recorded with proper proof. Once you have proper proof definitely you can go to court. You can take legal actions You can take the support of the news media or even social media. Currently, the social media world is growing very strong, better to take it’s advantages. 

Conclusion:

Over and above, you can avoid foreign trade frauds if proper care is taken. Also, there is no room for believing into something blindly. Join Digital exim, india’s finest export import consultancy group. Digital exim gives you proper A to Z export import training to save yourself such frauds & to make you the best International businessman. Call on 9505506333 or visit www.digitalexim.com

When goods and services produced in a country sold to different countries are called export and when goods and services are bought by a country to fulfil its domestic needs it is called import. When we live in a country Like India then why not export when we have so many options and resources. Join us to learn about import export business course and learn international trading. Export import helps one in expanding business internationally. It provides traders a big market target, more buyers and sellers, build brand name, more profit generation. It also helps in introducing new products to the market. Moreover, export helps in foreign exchange, which plays an important part of a country’s economy.

Benefits and Career Opportunities-

• One gets a highly paid job opportunity after doing an export import course. One can be export manager, import manager, export sales manager, international supplies logistic management. There are many big companies that hire such people like Tata, Mahindra, Indian Oil, etc.
• Opportunity to get recruitment in Custom Procedures, Customs house agent, Supply chain management.
• Candidates can work in different sectors like marine insurance companies, export departments, trading houses, export promotion councils.
• Promotion in the existing job.
• And the most important thing is you can start your own business after export import management course.

 

Types of Export Import Courses-

1 Diploma Course 2 Certificate Course 3 Diploma in export import management 4 Advance Certificate in International Trade 5 Crash Course on Export Important Management 6 Diploma in Supply Chain Management  

These days there are a lot of options available in all the cities. Every institute claims to be the best, but do they really are? Ask yourself this question while hunting for a best exim institute. If you are serious about export import then focus on practical training rather than just getting theoretical knowledge. Institute who guides you in your each step towards the business.

How to Filter Best Exim Institute-

There are certain things which one should keep in mind while filtering best exim institute- 1 Institute Inquiry- It is the first and most important part in finding an exim institute. Today if you want to find anything it’s just a tap away thanks to the internet. So, pickup your phone or laptop and search for the institutes. After picking some of them check their website, social media accounts to find what they offer.     2 Experience- How experienced the institute or the faculty is. Do they just provide theoretical knowledge, or do they have some practical experience or knowledge about the exim industry? An experienced person or institute will have more awareness.    3 Institute Existence- How old is the institute? It matters a lot, it doesn’t mean new startups are not good, but you can count more on the older ones. They have covered a long journey, so they have goodwill in the market and thus less risk of getting cheated.   4 Help Desk- Does your institute provide a long term help desk? Most of them just finish the course and are done. Do they guide you how to make a start or how to find a job after? Go for one which also provides a help desk to guide you in starting your export or import.  

 5 Final Decision- Study even small details and analyse differences in the institute. It should be always you, to make the decision in which exim institute you are joining. Look on to your budget and convenience then only move with your decision. Digital Exim provides import export training courses. It is India’s only Integrated Export, Import, Shipping, & Logistics Program. We are one of the best because we are not an institute we are providing you consultancy. Digital exim classes are online so that you can attend classes sitting in any corner of the country. Digital exim provides export import classes, 6 month consultancy, and life time help desk. We have trade managers with years of experience in international trading, who are here to solve your problems. You can go one on one with our trade managers and interact with them directly, go on live doubt solving sessions, attend online classes, get trade materials and personal consultancy. We are here to assist you in product selection, finding buyer/seller and many more. We are here to guide you throughout your journey and to make you a professional businessman. Export import course is not tough but you should have interest in it. The course covers all the factors of international trade- both export and import. Choose wisely from where you want to study, Your every penny is precious. Don’t go blindly over anyone. Make sure you ‘make the most of time’. These are the factors you should keep in mind while going for a exim institute. Select export import course, which makes you work. Get to know more about us, call at +91-9898724798.

Export and import plays an important role in the growth of any country. With the process of international trade becoming a necessity for every country, the export import field has become very promising and rewarding. Import export course online explains how you can grow in International Trade. Every coin have two sides. Any business model has its pros and cons and import export course in Ahmedabad provides the best service in making your career. Let’s Quickly jump to the points. “The road to success and the road to failure are almost exactly the same.” — Colin R. Davis The Success of Export Import not exactly depends on the scale of business size, for Example: If You are exporting Kesar, you won’t export it in tons of kilograms. Therefore, due to XYZ reasons your Export Import Business Might get affected badly. Now let’s discuss what are the advantages and disadvantages of export

Advantages of Exporting:

1 Opportunity:

Whenever a new attractive product launches, it just grabs the attention of all the importers and entrepreneurs all over the world. In such times, the opportunity to earn maximum profit from your new ideas and innovation gets higher and your exporting deals turn very profitable. Also suppose any Importing Country has a regular product with no substitute, you can surely put it yours after adding some more good elements in it.

2 Wide Importers Leads Huge Profit:

As per the Latest trends and fashion, when even your own country is not accepting your goods then you have other countries as well. This is the significance of Export. Generally other countries import Products in huge quantities only so the profit in Exporting your products is high.

3 Government Bonus Benefits:

The Government of India Promotes Exporting the goods and they support maximum exporters in many ways. As importers pay us from different countries than our own countries Growth gets its Benefit.

4 Reduce Production Cost:

Another advantage of export is that it reduces the manufacturing cost. When you export a product you export in bulk and producing or manufacturing products in bulk reduce the cost of production.

5 Build a Global Recognition:

When you export you, your product are sell to different countries and you make a global brand. Your brand gets global recognition hence people feel the brand more trustworthy. The more people are familiar with your product the more profit you get.  

Disadvantages of Exporting:

1 Foreign Exchange Rate:

Profit Margins Might get affected due to fluctuations in foreign exchange rate. This really does put a huge negative impact in the long run of export business.

2 Economic or Political Conditions:

The Importing Country’s political & economical conditions may not remain the same every time as things keep on changing. So due to negative changes in Importing Country, the exporting business gets affected badly.

3 Tensions between nations:

Recently in India, we faced the boycott China trend, though India’s Exports got increased but still in earlier stages there was significant loss for China Exporters.  

Advantages of Importing:

1 Cost Saved

Reduction in manufacturing cost is a super beneficial point in importing though the dependency arises but the cost gets saved. Importing the products from other nations becomes easy rather than producing it.

2 Star Importer:

Importing a unique & new product helps the importer to stand tall in the market. Whosoever imports a well new great product, he becomes the leader in the export import market.

3 Acceptance:

While importing quality products, the people genuinely accept the product if the quality is good. Nowadays, the world is changing every day, in the same way if you are changing the fashion or importing different products with good quality then people will surely accept it easily.

Disadvantages of Importing:

1. Dependency on other countries arises which is not good for both the Exporter and Country’s Growth.
2. Manufacturers’ mindset gets discouraged.
3. In Emergency Times of the Country, things get worse.

As i mentioned, there are advantages and disadvantages of mainly everything in life, same goes with Export Import Industry. It all depends on you, whether you have to rock the world or go back losing everything in Export Import. No need to worry, join your hands with Digital Exim for practical step By step Trade guidance. Visit our website now!    

Any commodity, article or service, brought into the country from a foreign land, for the purpose of sale and earning a profit, is known as Import. Any commodity, article or service, manufactured in a country and sent out to foreign land for the purpose of the sale is known as Export. Export import training assist with all the technical terms of international trade. Export and import provide a trader a huge market area, more buyer/seller, more profit and many more.

What is Re-export?

So, now that we have understand export let’s now understand about re-export. Re-export means foreign goods exported in the same state as previously imported, from the free circulation area, premises for inward processing or industrial free zones, directly to the rest of the world and from premises for customs warehousing or commercial-free zones, to the rest of the world. The re-export must be subtracted from the normal exports to get the total export of the nation. Since no value addition is done for the re-exported product, it is not usually counted towards a nation’s exports. The re-export of goods can be done to the same countries from where the goods were imported in the first place. The Re-export of goods can be made to other countries too. Generally, re-exports happen as the exported goods are not satisfied with quality measures, goods exported not matching with the buyer’s requirement. The term re-export are been used in international trade. The reason for goods being Re-exported to the same nation can be one of the few mentioned below.

1 Testing:

Since India is rich in resources, many nations might want India’s testing knowledge for the goods. For example, a country manufactures machinery and sends it to India for testing purposes. When Indian exporters send it back to the same nations after running all the required tests, those goods can be considered as re-exported goods. It also happens, many times, that the machinery sent to India for testing is tested and corrected. Then Indian exporters export the same to different countries as the bond with the importing nation was only to provide with raw machinery.

2

Value addition:

Many goods are sent to India in crude form and then work is done on such goods. India imports raw materials for many goods. These goods when are ready, are put in the market for either re-sale or for re-export. Such goods can be sent to the same country that exported the goods to India. Re-export to another country is also possible. It depends on the deals closing ability of the Exporter and the demand for those particular goods in that nation.There are various terms and conditions for Re-export which must be followed, the goods must be in a specified condition for re-export. Otherwise, the re-export may not earn the estimated profit. Section 74 of the Customs Act provides for the grant of 98% of the Customs duties leviable at the time of importation, by way of Drawback if it is re-exported by the importer, subject to laid down conditions to be satisfied. The re-export is to be allowed within two years from the date of import – (which period can be extended on sufficient grounds being shown) and goods have to be identified with the earlier import documents and duty payments – to the satisfaction of the Assistant Commissioner at the time of export. If such goods have been used in India after importation, refund is granted on a proportionate basis under Notification No.19/95-Cus dated 6.2.1995, as amended, and there being no refund admissible if the goods have been used after the re-importation which have been out of customs control for more than 36 months after the date of clearance for home consumption and the date when the goods are placed under customs control for export. For specific categories of goods as mentioned in the notification if these are used no drawback of the import duty paid is permissible. In respect of motor vehicles imported for personal and private use drawback formula is slightly different and the same is calculated by reducing the import duty paid according to the laid down percentage for use for each quarter or part thereof but up to four years of use.

India is into re-exporting and to support this statement, let me guide you through a News statement. India has allowed the export of imported products to sanction-hit Iran under the rupee payment mechanism provided 15 per cent value-addition takes place in the country. This move aimed at a fuller utilisation of rupee payment in Iran’s account. India, if focuses properly on the re-export of goods and commodities, it may earn Indian Exporters very good revenue. The laws of Re-export works differently. The Experts confirms that the Defective Imported Goods can easily be Re-exported to the same country or to a different country. The question stands that if imported goods are to be re-exported, does the Indian Exporter have to pay Customs duty?  The Madras High Court held that custom duty is applicable on Re-export of imported goods, which are exported beyond the period of 12 months. The expert panel observed that the re-import of goods that had taken place for repair/recondition the goods in question were re-exported beyond the prescribed period of one year. It also includes the period of six months of extended period and therefore, the assessed had admitted the breach of the condition of exemption from customs duty. So it becomes clear that re-exports does not require customs duty to be paid. Re-export is a concept that must be accepted and implemented by Indian Exporters with more enthusiasm. India is very rich in resources and manpower hence both these factors must be used to the advantage of every Indian exporter and should start exporting and re-exporting goods and commodities. If you wish to learn more about the Export Import Trade go with import and export business training for better guidance. You can also pay us a visit to our Ahmedabad head office!

GST is Goods and Service Tax, introduced by the Indian Government in 2017. IGST is Integrated Goods and Service Tax, which is a part of GST. There are many consultancies across India providing Import and Export Courses.  In-depth knowledge of IGST is needed in Export Import Trade and many consultancies may provide such information.  

The question that now arises is why was IGST levied? 

The major reason for introducing IGST was to replace all other indirect taxes like VAT (Value Added Tax), and such others and merged them all under one name, IGST.  

How Does IGST work?

Under GST, CGST is governed by the Central Government, which is levied on Intrastate supplies of goods and services.   Similarly, SGST is also levied on Intrastate supply but the difference is SGST is not governed by the Central Government.  

Whereas, IGST is levied and collected by the Central Government on the Interstate supply, abolishing CST Act,1956. IGST provides provisions like:

• Exports are zero-rated
• Sharing of collected Tax between Central and State Government.

  The charging provision of IGST indiscriminately levies a ceiling rate of 40% on all goods. Some goods are exempted in terms of taxes levied, they are:

• Petroleum crude.
• High-speed diesel.
• Motor spirit (Petrol)
• Natural gas and.
• Aviation turbine fuel.

  GST is a tax levied on the supply and not on the supplier. Hence, the IGST levied is the consuming state and not on the manufacturing state.    The above-mentioned goods are zero-rated goods and hence a refund can be claimed on the zero-rated goods. There are two ways of claiming this refund.

• For the goods or services that are under a bond or Letter of Undertaking for the safeguard of payment of IGST, a refund of the unutilized input tax credit will be made. Hence an exporter can file a refund application on the GST portal or at the GST facilitation centre.
• For an agency of the UN or any embassy as specified under section 55 of GST, a refund can be claimed, under section 54 of GST. A shipping bill needs to be submitted along with the application to claim the refund.

What are the documents required to claim a refund of IGST for exported goods and services?

The following documents are required

• Copy of the payment of duty
• Copy of the invoice
• Documents to show that the tax burden has not been passed on
• Other documents as per government’s need

  The exports trade done are levied with IGST based on their destination, a location being outside India, whether or not they qualify for zero-rated or not. The tax levied on the supply of goods and/or services are in three parts:

• In the hands of the supplier
• The receipt of goods/services under reverse charge mechanism
• In the case of specified services, in the hands of the electronic service operator.

  Let’s discuss some of the advantages and disadvantages of implementing the IGST policy and how it has affected the export business.

ADVANTAGES:

• Maintain uninterrupted ITC chain on Interstate transaction.
• No upfront payment of tax or substantial blockage of funds for the interstate buyers or sellers.
• No refund claim in exporting State, as ITC is used up while paying the tax;
• Self-monitoring model;
• Ensures tax neutrality while keeping the tax regime simple;
• Simple accounting with no additional compliance burden on the taxpayer;
• Would facilitate in ensuring a high level of compliance and thus higher collection efficiency. A model can handle ‘Business to Business’ as well as ‘Business to Consumer’ transactions.

There are only a few disadvantages of the IGST levied on the Export Goods. To name a few of them:

• The refund process is sometimes long and tiresome.
• Even after applying for a refund, it takes more time than necessary
• If the sum requested for the refund is large, it takes more time and more formalities must be acknowledged.

Apart from some flaws, IGST has proved to be unhindering.   There are some cases when an IGST is charged on the bill by a seller to the buyer.

Mentioned below are some of the scenarios:

• Supply of goods from one State or Union Territory to another State or Union Territory
• Supply of services from one State or Union Territory to another State or Union Territory
• Import of goods till they the cross customs frontier
• Supply of goods/services to/by SEZ
• Supplies to international tourists
• Any other supply in the taxable territory that is not intra-State – supply of goods or services within the State or Union Territory.

The impact of GST on export has been positive until now. This policy has enabled many Indian firms to emerge successfully in foreign trade. The smooth claiming and easy availability of Input Tax Credit on services have helped companies have competitive prices internationally. Amidst the ongoing pandemic crisis, several businesses have failed to file GST returns on time despite the GST audit extension. Not staying GST compliant can harm growing business to a greater depth. By following these rules and documentation, exporters and young entrepreneurs can be relieved of the new taxation policy. More trade-related blog topics are available on the link below. You can read ‘em here: https://digitalexim.com/blog/ You can also visit the page and know all about export import trade.

India has always been an EXPORT IMPORT business hub since ancient times. Trade flourished since Vedic times in India and is now spread across the world.  Giants in the business like the US, UK, China etc,  are eager to crack deals with India.  Indian export brings more profit than import and one of the major reasons being the currency of India. The currency of India is weaker compared to the previously mentioned countries. The raw materials used are cheaper in cost while the products exported yields more money.   Export from India increased in the USA and UK because of the ‘China plus one’ policy adopted by these nations. Another reason could be that the availability of raw materials in India is easier.  During the pandemic, the loss faced is likely to be recovered in this year.  However, a rise in protectionism led to an uncertain global trade situation, which adversely impacted exports in 2020.  This adversity is likely to turn into opportunity in 2021, as predicted by Trade Gurus. Export to the US can be very profitable to sellers from India as the profit earned is in Dollars.    Let’s one by one discuss the items that are high in demand in the US market.

• Manufactured Goods:

India exports a wide range of manufactured goods to the USA. Exports in India increased by 13.4 per cent for manufactured goods while imports increased by 12.7 per cent this year. The numbers clearly indicate that India has gained a 0.7 per cent in trade surplus per year for manufactured goods.  Some of the most exported manufactured goods from India to the USA are agricultural products, precious stones and jewellery, electronics, pharma and handicraft.   

• Agriculture products: 

India Exports the highest amount of Agriculture products. May the Exported product be raw materials or manufactured goods.   

1. RICE:

Rice is exported in the highest quantities from India. Since the country’s primary source of income is Agriculture, rice is vastly grown, consumed and exported.

Thailand, Vietnam and Cambodia, the competitors of India have limited supplies for Export, says Himanshu Agrawal, one of the biggest exporters of Rice from India. India tops the list and exports the maximum quantities of rice every year.  According to the Ministry of Commerce and Industry, the Export of Basmati Rice from India, in the year 2119-2020 accounted for $ 4371.93m. While that of Non-Basmati Rice counted for $ 2024.66m.   2. Spices:  A lot of Indian Spices are Exported to the USA. The Export of Indian Spices raised by 23 per cent, that is $ 359m around June 2020.  Studies show that the rise in Export of Indian Spices will remain high as those spices are also in demand in the local market.   

Turmeric has grown popular in the US market over the years. So the Export of Turmeric is increasing ever since it’s medicinal value was established.  A total of $ 2.57 billion worth of export of Indian Spices was observed from April 2020 to November 2020.  Ginger exports increased to 47 per cent, Cardamom by 31 per cent and Cumin with 14 per cent, in FY20.   3. Gems and Jewellery: India is a country filled with talented artisans. Indian jewellery is well known all around the world. India has the natural advantage of readily available raw materials along with manpower and skilled workers, which helps India compete with China.   

According to GJEPC, in the year 2018-2019, India exported USD 10.48 billion while in the year 2019-2020 the export resulted in USD 9.17 billion. This accounts for 26 per cent of the total Export of Gems and Jewellery from India. GJEPC chairman commented on the US ending of the preferential treaty with Hong Kong, saying this will further boost the export of Indian Gems and Jewellery to the US market.   4. Electronics: India stands low when it comes to supplying electronics to the world market. Even so, India’s electronic export reached $ 11.28 billion in the year 2019-2020.  

The total worldwide contribution of Indian Export in the field of Electronics is only about 0.3 per cent, with China securing the top position in the world.  5. Pharmaceuticals: India has a huge pharma industry, speaking mathematically, the Indian pharma industry is the 3rd largest in terms of volume and 13th largest in terms of value.   

The expected compound annual growth rate of the Indian pharma industry will increase to 22.4 per cent to touch $ 55 billion.   6. Handicraft: An enormous amount of man-power is dedicated to this craft and so the efficient working of this industry becomes very important for the Indian economy.  

More than 7 million regional artisans make up the fragments of the handicraft industry, with more than 67000 exporters or export houses promoting regional art craftsmanship in the regional and global markets.   If you have set your heart at doing INTERNATIONAL EXPORT IMPORT BUSINESS you might find guidance in the right direction. https://digitalexim.com/advanced-export-import-courses/?gclid=EAIaIQobChMIv_G1u8317gIV0MKWCh3E-gTcEAAYASAAEgIxH_D_BwE   You are an avid reader and you want to thoroughly research EXPORT IMPORT TRADE, just click on the link below and feed your reader’s soul. https://digitalexim.com/blog/

In an ongoing global health emergency, import-export services are vital to saving lives and livelihoods, and international coordination is necessary to maintain trade going. The World Trade organization observed on 23 April 2020, just after several major countries had announced lockdowns that as many as 80 members and non-member countries had implemented specific bans and prohibitions on import-export services to alleviate such essential shortages.  The above graph categorizes these prohibitions by items such as facial masks, gloves, and foodstuffs. To illustrate a few cases, in March 2020 the European Union introduced a prior authorization regime for the sale of defensive devices, while the Eurasian Economic Union restricted the export services of some food products and medical supplies such as disinfectants. 

Our import-export course in Ahmedabad teaches mechanism information with the aid of individuals who are well informed of the scope of international exchange in terms of trade law, financial and trade factors that impact global business, and competitive approaches within the marketplace.  Most online import-export training class providers do not offer certifications but promote a sound foundation for how multinational companies treat all trades ethically and effectively. Here are a few key aspects that you need to avoid especially COVID-19.  

Top 3 excuses exporters must avoid 

Below are typical errors in the import and export industry that should be taken into account and avoided; otherwise, they can directly or indirectly impact your import and export business.

• Do not overlook encouraging foreign market & background check.

A promising international market is a nation that has the highest demand for an imported commodity and has a favorable business climate. Knowing that the global market is economically viable is the most fundamental law in the industry.  So, being into import-export services, you need to focus on promising foreign markets. A credible business partner with a strong reputation is essential for creating a new market base. Often, in the enthusiasm of seeing the opportunity to earn, exporters fail to do simple due diligence or background checks on their foreign business partner. This neglect will lead to financial, business and even loss of credibility. Take import export training classes and learn how to do a particular background check on the parties.

• Do not select inappropriate service providers.

Many entities are interested in the export process. Any of the leading players are – insurers, freight forwarders, rail lines and intermodal transport companies. Effective execution of an export order relies on how all members execute the procedure assigned to them. Due to COVID-19, the scenario has been changed as service providers have become much careful. It is critical for an exporter to choose practical and reliable service providers who can satisfy their business requirements reasonably and in the least possible time. Our import-export course in Ahmedabad is specially designed to learn the certain fundamentals of the import-export industry.

• Do not indulge in such activities that are not in compliance with Trade rules.

Exporting without authorization or in breach of the law could result in the forfeiture of more severe issues for the company and the entrepreneur. Do not sell illegal products that you do not have a license to export. Check through the WTO guidelines to know which countries have imposed bans on certain products during and post COVID era. As explained by the chart, the dynamics have been changed. Countries are imposing bans as and when required. Connect with us now and join our advance import export course in Ahmedabad.  

Wrapping Up

The post COVID era seems to be brighter for import export services. The WTO and the governments of various countries are now lifting the bans imposed on certain products. Also, they are developing a framework by which business gets few relaxations and benefits as well.  If you think you’re new or still in the import and export industry and want someone to help you import and export specifications in-depth, Digital Exim is the best-fit company for you and your business. Join our import-export course in Ahmedabad and get exclusive benefits.  We are also keen to provide service of the entire business set-up of your import-export business. Contact us at info@digitalexim.com or call us on +91-95055056333.