Sales of goods and services overseas with earning a good profit is export whereas buying of goods and services from different countries to fulfil countries’ needs is called import. Export import is accountable for trade expansion in both local and international markets. Export import course will give in-depth knowledge about export import business.

Trade Opportunity with Indian Market-

India is the 2nd most populated country in the world, so one can guess the number of opportunities the Indian Market provides. There are a number of resources that can be exported and there are many products that we Indians lack for import. You just have to find one particular product you want to export or import. There are many profitable products for your new export business like Car parts, Tea, Textile, Organic food, Organic Chemical, Glassware, Copper, and many more.   Similarly, for import you can go with- Agrochemicals, Medical Equipment, Tech Accessory, Bio-Chemicals, Electronic Components. 

Export benefits from government- To grow the GDP of a country, export plays a very important role in it. Countries get foreign currency from export business which reflects in the economy of the country. So, for making countries’ profit and to appreciate export business, the Indian government gives some benefits or incentives to exporters. These benefits can be in the form of-

• Credit Facilities- Government benefits can also be obtained as credit facilities like it helps export traders at low-cost loans.
• Subsidies on export prices- It helps the exporter to deal with the high export prices. It reduces the expense of export so that trade can be made more efficiently.   
• Tax concession- It involves duty free import of inputs for export production.
• Financial guarantees- In this government provide provisions of covering bad loans. 

  There are three types of export benefits-

1 Export from India Scheme 2 Duty Exemption/ Remission Schemes 3 Export Promotion Capital goods Scheme  

Best 3 Products to Export from India-

1 Petroleum Products– It is among top exports from India. Petroleum products have supported a better economy by earning around 61 billion dollars from exports.  2 Automobile- Automobile sector has risen by 17%. Report based on 2020 states India earned 17.2 billion dollars from exporting automobiles. 3 Machinery- There has been a huge increase in the export of heavy machinery. Report based on 2020 states India earned 21.2 billion dollars from exporting machinery.  

Best 3 Import Products from India-

1 Crude Petroleum– One of the major imports of India is crude oil. India imported crude petroleum worth 7.24 billion dollars. 2 Pearl, Semiprecs stones – India imported pearls and semiprecs stones worth 2.23 billion dollars. 3 Vegetable Oils- India imported vegetable oil worth 1.42 billion dollars to fulfil domestic needs.  

Requirements needed to start Export Business in India: 

• Establishing an Organisation
• Opening a Bank Account
• Obtaining PAN Card
• Obtaining IEC (import export code) Number
• Registration cum membership certificate (RCMC)
• Selection of product
• Selection of Market
• Finding Buyers
• Sampling
• Pricing/ Costing
• Negotiation with Buyers
• Covering Risk through ECGC

 World is full of surprises, turn around and you will get your answer. This world gives a huge market to export or import. Just make sure that you are delivering or buying the right product for the right place, and for the right people. If you are still confused, import export business course to get the solution. For more details visit us to know about the export import Industry.