Tag: direct export

You might think it’s easy to figure out the right price to sell your export product at, right? However, setting your export pricing could be one of the most challenging – and crucial – decisions you take when you begin your export business. Get yourself connected with import export course online and understand how you can fix the price of your product.   When you are selling something in your own country, setting a price isn’t as difficult, but selling in another country requires a lot more thought and consideration.  You also need to set a price that helps you stand out from your competitors. Market prices do not necessarily reflect the true value of your product.   There are multiple factors to consider when determining final prices for a product, including manufacturing cost, compliance, packaging, the cost of competitors, importing countries’ tariffs, and supply chain and logistics. As you will bear all these costs until they are passed on to the buyer, you will have to add these up.  In the case of a more competitive price, handling repeat orders can be a major issue if you’re new and not prepared. On the other hand, you can leverage the situation by offering a range of products.   

Here are some of the Pricing Strategies that are followed:  

1 Market Driven Pricing-  

You utilize this strategy when you need to keep your product’s price flexible and responsive to such factors as demand, supply, inflation, etc. This is especially beneficial for commodities found in stable and established markets. Yet, one must be careful to not expose a product to too much market volatility as this can lead to price instability. 

2 Skimming Pricing-  

In skimming pricing, you raise your price to recover initial costs and make high profits, then decrease it to increase market share. Commodities in established markets benefit from this model, while customers in new markets might not be as eager to pay high prices at first. 

3 Penetration Pricing- 

This is a practice of charging a low price to gain a place in the market and eliminate competition. It is particularly effective for items of mass consumption that are commonly utilized. 

4 Marginal Cost Pricing- 

Exporters should use marginal cost pricing when they consider only direct and variable costs when establishing prices. It is possible to adopt marginal cost pricing if you are not planning to recover fixed costs from sales and shipments, but this will mean a longer breakeven and profit cycle.   

5 Competition Based Pricing- 

As a variant of market-based pricing, it is useful in markets with price leaders. Under this model, followers fix their prices to match the leaders. It is relatively straightforward, but you are threatened by sudden changes to the leader’s price. 

6 Pre- Emptive Pricing-  

Pricing pre-emptively may mean setting your price lower than the cost of the product, with the expectation that market dominance will result in profits over time. It is a high-risk strategy, but if correctly managed, it can lead to market dominance and virtual monopolies. 

Conclusion- 

To stand out, it is important to add something special to your product that is not available anywhere else. You need to study the market to understand the competition.  Import-export business training in Hindi will explain to you the pricing strategies in detail and Digital Exim can help you start or grow your business in just 60 days.   Join our free webinar to learn more about export.  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do give us a visit 

As the name suggests, export financing involves providing funding to exporters to enable them to participate in the global marketplace. It is a cash flow solution that helps exporters meet their production and other global transactional needs, including working capital. Connect with import export training in Ahmedabad for better understanding.   In addition to benefiting the customer, export finance is also beneficial to the country itself, as it generates important foreign exchange earnings for it.  Export financing reduces the risk that the importers will default on their payments to exporters, as well as minimize the gap between manufacturers and overseas suppliers.  A wide range of sources of export finance may be available to exporters to facilitate their capital needs. It is up to you to choose the source of credit that will meet your needs while also fitting into your firm’s long-term financing strategy.  Here in this import export blog, we have discussed different types of export finances.  

Types of Export Finance: 

1 Pre- Shipment Finance-  

This type of export finance is provided to exporters for the purchase of raw materials and transformation into finished goods. In other words, it is provided to exporters when they need funds before shipments of products and goods are received.     

export finance from his bank against the export order received from the importer. Once the exporter receives funds from the overseas buyer, the packing credit is adjusted accordingly. 

2 Post Shipment Finance- 

An exporter receives export finance when his products are shipped, and an invoice is raised by the importer for payment, but this process may take a minimum of three to six months, and the exporter will have to secure working capital to fulfil orders during this period.   Export bills are presented by exporters to their banks for this purpose after they export goods. Banks can purchase or collect the bills or even discount the bills. 

3 Finance Against Collection of Bills- 

Exporters who are shipping goods to other countries may apply to the bank for a loan against those bills sent for collection. The bank will usually offer to finance the export bills, which in turn will be repaid by guaranteeing companies in case the exporter defaults.    

4 Discounting Letter of Credit- 

As LCs have security from the issuing bank regarding making payments, exporters can also apply for the loan against them. 

5 Government Subsidies and Allowance- 

Subsidies provided by the government help exporters sell goods at a lower price to importers.   Example- An exporter is awarded cash compensatory support by the government when their expenditures increase due to factors beyond their control, such as an increase in labour costs or transportation costs. 

Conclusion-  

Don’t take out more credit than you can afford to repay because defaults can negatively impact your credit for future loans. Be aware of the foreign exchange rate and terms and don’t take out more credit than you can afford to repay.  If you are also interested in export import business than join our import export management course.   Interested people can also join our live webinar. Click the link below to attend webinar.   https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8Do give us a visit to start your international business!

Transportation of goods from the point of origin to the place of consumption to meet customer requirements is referred to as logistics. There are several areas of specialization within logistics, and one of them is shipping. Additionally, logistics includes warehousing, packaging, and material handling. Online import export course will help you understand the terms and how to find the right one for you.   To minimize costs and improve operations for businesses, logistics involves both the integration of these smaller areas and their management.  Logistics involves transporting the right product to the right customer, at the right time and place, in the right quantity, in the right condition, and at the right cost. 

Types of Logistics 

1 Inbound Logistics- 

This refers to the inner logistics errands and exercises that have to be completed by organizations to continue operating. As the name implies, inbound logistics describes the strategic tasks of organizations that operate in the Upstream sector.   

2 Outbound Logistics- 

The outbound logistics service constitutes the errands and activities involved with transporting the item to the final recipient. A player that works moderately downstream usually faces such strategic obligations, and they are the last party to arrive in the supply chain. 

3 Reverse Logistics-  

Receiving goods that have been returned by a customer. The reverse logistics process involves activities that take place after a product has been sold to recover its value and end its lifecycle. In most cases, it involves returning the item to the manufacturer or merchant or sending it on for overhauling, repair, or reusing. 

4 Third Party Logistics- 

The logistics function includes all parts of the supply chain that are concerned with planning, managing, and controlling the flow of merchandise and services to meet customer needs.  Using third-party logistics implies outsourcing logistics services to a third-party company. For entrepreneurs, third-party logistics can be a mistake.    

5 Fourth Party Logistics- 

Fourth-party logistics providers are third-party logistics providers who provide organizations with supply chain solutions by handling resources, innovation, technology, infrastructure, and even managing external third-party logistics providers. 

6 Distribution Logistics-  

Distributive logistics refers to the organization of errands, control, and safety procedures relating to the flow of information and goods between manufacturing companies and their customers. Market and production are connected through distribution logistics (also called transportation logistics or sales logistics).  

Conclusion-  

Logistics is broadly alluded to as the most common way of moving things or products like foods, materials, heavy equipment, etc to the ideal destination. Logistics plays a major role in any international business. When you export any product overseas, it is very important to have the right logistic partner as many times the products get damaged during transit.   To learn more about logistics and their importance join our export-import consultancy services and start your exports in just 60 days.   You can also attend our live webinar and get expert guidance on why you should start an import export business of your own. Click the link listed below to join our webinar.  https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Do visit our website for more information.  

Packaging credit is nothing but a pre-shipment loan given to exporters at a low interest rate in order to boost exports. It is one of the most commonly used trade finance tools by international exporters. Import-export training classes will help you better understanding international business and its different terms.    Obtaining packing credit is a government policy to encourage exporters to earn foreign currency, which strengthens the financial status of a country. It is given by authorized banks by the Reserve Bank of India.  Packaging credit is pre-shipment financing offered by banks for acquiring raw materials and arranging goods ready for shipment. Banks provide packing credits along with raw materials or finished goods in some cases.  It is a separate form of credit given to exporters unrelated to any other loan granted by the bank.  When the overseas buyer sends the shipment amount, the packing credit amount will be adjusted by the bank to close the loan for the export order.  Exporters have to approach their bank with their export order to obtain packing credit. Bank officials visit the exporter’s factory and assess the value of the goods with the export order.  What are your thoughts about this article about packing credit to exporters? This information is a part of our export-import online classes.    

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The words vessel arrival and vessel berthing are used a lot in export-import business. Learn export import online and start your business with us.   An exporter sends a ship to the port of destination, but even after customs clearance the ship is not berthed. This is called ‘the vessel not berthed’.  The term berth can be used to refer to a specific location in a port where vessels may be moored for the purpose of loading and unloading. Berths are assigned by the port authority or harbourmaster.  Having a vessel arrive at port does not mean that the vessel is berthing at port to unload its cargo. There are many docks for the vessel to berth on, but if none are available, the vessel waits outside the docks.   Once a vessel has arrived at a dock to unload cargo, we can call it vessel berthed.  So, in simplest words reaching to port is vessel arriving and the process of reaching dock and unloading is vessel berthing.  Arriving vessels may have to wait long periods to get berthed in a port if there is more congestion. Once the vessel is berthed, the cargo will be unloaded on the docks.  Have you figured out what is vessel arrival and vessel berthing? Join our online import export course and know more. Comment below your thoughts on this article.   

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How Does Packing Credit Work In The Export Business? Different Export Finance That Helps In Business GrowthWhat is Drop Shipping And Why Is It Important? An explanation of the House Bill of Lading A Quick Guide to Different Payment Methods in International BusinessA comparison of BAF and CAF Do Airway Bills Serve As Documents Of Title?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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Outbound logistics refers to the processes of collecting, storing, and distributing goods to customers. A customer sales order begins the outbound logistics process, followed by warehouse packing to finish with product delivery. Export-import course online will help you to understand logistics and its process.   The process of moving and storing products after they have left the production line, for the final customer.  Planning and implementing the transport of goods from a manufacturing facility to a business buyer or consumer is outbound logistics.  A business should choose the right distribution channels, maintain a logical inventory stocking system, and optimize delivery options for outbound logistics to run smoothly.  In the case of outbound shipping, Focal Distribution helps select a carrier and arrange for pick-up of materials that are being delivered off-campus by a basic transporter.  In addition, outbound logistics systems help to redirect potential errors and provide the option to navigate back so that errors may be fixed. 

How does it work:  

During the outbound logistics process, a company goes through multiple stages. Initially, the sales department receives a purchase order from a customer and checks inventory availability to make sure they can fulfill that order.  Next, the sales department sends the customer’s order to the warehouse, where it will be picked and packed. The order will be shipped and the warehouse clerk will update the inventory levels. The business will bill the customer and eventually retrieve cash payment.  Efficient outbound logistics management reduces delivery expenses and increases the productivity of an organization’s customer relationship management process.  Did you enjoy our article about Outbound Logistics? The information provided above is part of our Online Export Import Training course.   

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How Does Packing Credit Work In The Export Business? Different Export Finance That Helps In Business GrowthWhat is Drop Shipping And Why Is It Important? An explanation of the House Bill of Lading A Quick Guide to Different Payment Methods in International BusinessA comparison of BAF and CAF Do Airway Bills Serve As Documents Of Title? 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 the 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 a 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 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?

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During transportation from the port of dispatch to the point of destination, goods may get damaged, causing the exporter financial loss. To protect himself, the exporter may purchase an insurance policy to cover physical damage to the goods.  It is important to know that the term Marine Insurance is used for goods shipped by sea. Cargo Insurance is used when goods are shipped by air. However, both terms are interchangeable, as both define the same thing. To know more about it join our import export training course.  Two main reasons for insurance are legal and commercial. The legal liability of the intermediaries is limited. Clearing and forwarding agents, carriers, port authorities and customs authorities are examples of intermediaries who handle goods at various stages.  Damages caused by circumstances beyond their control or losses caused despite as a result of reasonable care taken by them are not covered by their liability policy.  A sea shipment is subject to a limit of 100 pounds per package at present and a shipment by air is subject to a limit of $16 per kilogram at present, which is modified from time to time. An amount of compensation of this kind does not cover the total loss sustained by the exporter.  The banks also insist on coverage of insurance when they make post-shipment financing.   Insurance is required even for commercial reasons. When goods are damaged, importers may refuse to accept the bill of exchange, in case of D/A bills. When loss occurs, it may not only affect the shipment of goods, but also profit.  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.    

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How Does Packing Credit Work In The Export Business? Different Export Finance That Helps In Business GrowthWhat is Drop Shipping And Why Is It Important? An explanation of the House Bill of Lading A Quick Guide to Different Payment Methods in International BusinessA comparison of BAF and CAF Do Airway Bills Serve As Documents Of Title?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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The Import Export Code (IEC) is necessary for an exporter or importer to operate as an exporter or importer in India. To know more about IEC and international trade connect to import export course online.   Once an exporter or importer has an IEC, he or she can export or import goods by the terms and conditions prescribed in the IEC that are attached to the Foreign Trade Policy of the Government of India.  The IEC allows exports or imports from all India’s ports. However, the respective ports must be named as branches in the IEC. Fill up the column for ‘branches’ of your firm by mentioning the ports from which your transactions will be conducted.  DGFT updates your IEC with a reference to ‘branch code’. When you begin an operation with a new port that already contains a ‘branch code’, the customs department requires registration of ‘AD code’.  Your bank provides your account with an Authorized Dealer Code (AD code) which is a number provided to each bank across the country.  You can import or export through the said port if a branch code is specified in the Import Export code with DGFT. If you did not specify the branch code at the time of applying IEC, you can update it as and when necessary.  Did you enjoy our article about IEC? The information provided above is part of our Online Export Import Training course.   

For More Knowledge Read Our Article On-

What Do You Mean By Outbound Logistic 

Vessel Arrival vs. Vessel Berthing In Export-Import Trade 

How Does Packing Credit Work In The Export Business? Different Export Finance That Helps In Business GrowthWhat is Drop Shipping And Why Is It Important? An explanation of the House Bill of Lading A Quick Guide to Different Payment Methods in International BusinessA comparison of BAF and CAF Do Airway Bills Serve As Documents Of Title? 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 the 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 a 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 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-

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DP OR DAP is a term of payment in international trade. D.A.P or D/P means Documents Against Payment.  Cargo shipped out from the supplier’s premises is handed over to a carrier who carries it to the final destination of the buyer after completing the necessary export documentation of the exporting country. When goods are delivered to the exporter, the carrier or his agent issues a Bill of Lading (for sea shipments) or Airway Bill (for air shipments).   Know more about payment terms with an online export import course and start a risk-free business.   A complete set of documents, including a bill of lading/airport bill, an invoice, a packing list, and a bill of exchange, is submitted to the bank for delivery to the buyer via the buyer’s bank. Upon verification, the seller’s bank sends these shipping documents to the buyer through the buyer’s bank.  The buyer’s bank notifies the buyer that such shipping documents have been received and advises the buyer to ‘accept’ the documents by effecting payment of export proceeds.    The buyer receives original shipping documents from his bank after making necessary payments against the sale of goods under the DP terms of payment.  A buyer takes possession of shipping documents after collecting them from the bank and completes necessary customs clearance procedures in the importing country.  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-

What Do You Mean By Outbound Logistic 

Vessel Arrival vs. Vessel Berthing In Export-Import Trade 

How Does Packing Credit Work In The Export Business? Different Export Finance That Helps In Business GrowthWhat is Drop Shipping And Why Is It Important? An explanation of the House Bill of Lading A Quick Guide to Different Payment Methods in International BusinessA comparison of BAF and CAF Do Airway Bills Serve As Documents Of Title? 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 the 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 a 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 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=klO_HuRX5ok&t=1shttps://www.youtube.com/watch?v=Gg7pC8wakmIhttps://www.youtube.com/watch?v=tyI7RFtpaRg&t=1shttps://www.youtube.com/watch?v=d1BnIZqbTowhttps://www.youtube.com/watch?v=ZdkoaoYszxIhttps://www.youtube.com/watch?v=47K1YcfBmFMhttps://www.youtube.com/watch?v=iZEYAkiUZwk

India is continuously growing in the international business sector either it be export or import. Import business is that one business that will never stop. It might get slow due to different reasons. If you want to start your import business go with import export courses online. The import-export course guides you on which product you should start your business.   Let me tell you starting an import business requires a lot of hard work, patience, and dedication. No one becomes an international businessman overnight. Import-export training in India is best to take guidance on starting a business.   Import business is one of the lucrative businesses. India imports more than we export. There are many products that we need and one can start a business with. Make sure you have done enough marketing before importing your product.  

Here are a few points you should know about before starting your import business-  

• In 2020 India imported goods worth US $467.19 billion.  
• The value of India’s merchandise import in December 2021 was USD 59.27 billion, an increase of 38.06% over USD 42.93 billion in December 2020. 
• For April-December 2021, the value of India’s merchandise import was USD 443.71 billion.

• April-December 2021 marked a 48.85% increase in merchandise exports over April-December 2020 of USD 201.37 billion. 
• In 2020-21, India’s imports totaled USD 394 billion, down from USD 474 billion in 2019-20. 

Here are some Ideas that you can start your import business with 

> Shoes  > Jewellery & Pearl  > Glassware  > Organic Chemical  > Electronics  > Beverages   > Perfumes  > Soyabean oil  > Plastic articles 

Top countries from where India import goods-  

China, US, UAE, Switzerland, Saudi Arabia, Qatar, Germany, Iraq, Indonesia, etc.  

Conclusion-

I agree that there is competition in the market but there is still enough space for the new entrepreneurs to start and grow their business. You just have to find the right product for the right market.  If you are not sure about what to import and have no idea of what to deal in, try the above listed ideas. Remember that quality always comes before quantity because no matter where or what you import, customers will only buy from you if they find quality products.  There are many ways to learn import export business. You can also join live webinar from Digital Exim by our expert Kavit Ashwin Shah. Click the link below to join webinar.     https://chat.whatsapp.com/Bqz4SWH55nSGtKj3GnJAC8 Don’t forget to checkout out our website!