Starting your Export Import Business in India can be challenging, i have used words like ‘can be’ not ‘is’, therefore buckle up your seat belt to learn how to do Import Export in India.
There is some difference between Starting the Export Import business and boosting it.
Frankly speaking, on the Internet there are tons of sources explaining every topic in detail regarding Export Import Business but there is hardly any information available for starting an Import Export business in India. This sometimes leads to stop new Exporters or Importers to put their steps in this industry. But no need to worry, let’s quickly jump to steps of starting Import Export Business in India.
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Obtain Pan Card: During your whole Export Import journey there will be many documentation stages in which you will require PAN Card from opening your current account to getting IEC code (Export Import Code).
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Register Your Business: Whether your Business is sole proprietorship, A Private Limited Company, A Public Limited Company, LLP, or Partnership Firm, You need to register it with the Government of India & VAT Registration Certificate or Service Tax Registration is must.
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Current Account: Without having a Current Account for your Export Import Business there will be no dealings, it is as simple as that.
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Obtain Export Import Code (IEC): Obtaining Export Import Code issued by the Government is super Important for your Business. You can Say that Without Export Import Code, you can do nothing in forming your business.
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Product: Here you need to be extra careful. Your product defines your Export Import business. Whatever Product you decide keep in mind the following points:
- Demand
- Country
- Cost and Profit
- Buyers
- Specifications
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Registration Cum Membership Certificate (RCMC): Dozens of Export Promotion Councils run to Promote and Encourage Exporters. So why not to have their support? Also it is essential to register, so there is no chance of ignoring this crucial step. RCMC is valid all over India.
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Having Custom House Agent (CHA): It is not mandatory to hire a CHA but it all depends upon the Firm or businessman. Custom House Agents work like a Legal advisor, they suggest the correct classifications of good. Whenever custom officers raise the query then CHA resolves the same. In short, the A to Z customs clearance process is done by CHA. Read out our Previous Blog to know more information regarding ‘Role Of CHA in International Trade’
Conclusion: Above 7 points are something quite essential to start Import Export in India. There is some difference between Starting the Export Import business and boosting it. So in starting your export import business or even to boost your export import business, Digital Exim is the best destination for you. Call on 9505506333 or visit https://digitalexim.com/contact-us/ to explore today!
