Import Export - business in India

Import Export - business in India

Import Export Business is tempting, exciting, lucrative and global. There is no saturation point in the business in India. India has to go a long way to be among top ten exporters in the world. The government of India has set an export target of $400 billion for the current fiscal year that will end by March 2022.

The government of India has introduced a new incentive scheme - compliant with World Trade Organization (WTO) rules - to boost exports that will enable exporters to get a refund of taxes paid to the federal and state governments. The government plans to spend INR 19,440 crore ($2.61 billion offering incentives to exporters under the scheme that would be effective from January 2021. India has set a target of $400 billion in merchandise export for the current fiscal year ending in March 2022, compared to $291.2 billion in the previous fiscal year.

If you want to be an exporter, this is the right time to start. Government of India offers certain incentives like subsidies and tax exemptions. EXIM Anything is there to help you to understand the business and write your success story with you.

Export business can help you earn great profits provided you set it up in an organized and proper manner. While there are many steps leading to a successful export venture, let us first have a look at what is import export business is and why is it a very profitable idea in India.

Import-Export business 

Trading of goods and services across geographical borders of your country is called Export Import business. Getting merchandise into the country from outside is known as import of goods. Sending merchandise    abroad from your country is what majorly accounts for an export business.  India produces many unique items which are in high demand globally. The Indian gems and jewelry, fruits and vegetables, Carpets, medicines, Indian snacks, and high-quality fabrics are very popular across the world. 

Setting up an import export business is less costly than setting up an export business, it has a different set of rules and regulations. Putting up an entire export business together with all its licenses, policies and incentives can seem overwhelming and complicated at times. This is where experts can be of help. EXIM Anything is the company that has a mission of helping people with no experience.

For first-time importers, the international trade industry has a reputation of being unwelcoming with changing trade laws, regulations, sanctions, paperwork, etc. For seasoned or professionals importers, it is vital to remain vigilant about these changing trade laws and countless other compliance requirements that can be overwhelming at times. That's why EXIM Anything provides Export Import consulting services to our clients.

No matter how big or small your organization is, importing goods from anywhere is a complex task of paperwork, government regulations, and changing trade laws. Import-export consultants like EXIM Anything are well versed in international trade laws, shipment requirements, and paperwork.

Import-Export management

The right Import Export management is the stepping stone of the successful business. It may be difficult for everyone in the business to hire the qualified and much experienced human resources. There are options available to outsource some or maximum services that will ensure smooth functioning of the business. The options are:

  1. Agents
  2. Logistics companies
  3. Comprehensive service providers

Agents are not completely reliable source. Logistics companies do not handle all your import export issues. You still need a functional office with all the manpower and thus bear the overheads to run an office. The 3rd option is the best option because it takes away all your worries of having a full-fledged office. This is by far the best option and nearly zero risk business proposition. EXIM Anything is one example of such services. 

An export consignment requires the right documentation, shipping procedures, following up of incoterms and trade laws. There are other non-specified hurdles like red-tapeism that can be shocking and hairsplitting. Even seasoned exporters, at times, find it hard to manage things which results in delayed shipment and loss in profits.

The following goods are being exported businesses are goods exported.

  • Fruits and vegetables
  • Clothing
  • Jewelry
  • Carpets
  • Mineral fuels
  • Medicines
  • Spices and condiments
  • Indian snacks, pickles and other packaged food

Every business needs a minimum amount of investment and so does export business too. You need to pay the fees for the registration of your business and setting up the business flow. But this can be as low as you want it to be. You can also save up on buying a lot of stuff for your business by keeping it entirely online or just buying the essentials for your day-to-day operations. You can also benefit from one of the government schemes designed for exporters. Moreover, if you are not manufacturing a product and exporting someone else’s produce then it can also add up to your savings. Exporters can also get various loans at low-interest rates. They can also strike up a post-payment deal with a supplier or a pre-payment deal with a buyer to keep the business flow going. You can also apply for seed funds or startup capital by pitching your ideas to potential investors and/ or organizations.

There are certain risks involved that can be dealt with efficiently if your exports are in the right hands like EXIM Anything.

  • Transit risks
  • Currency risks
  • Export restrictions
  • Cost reduction on exports
  • International commercial terms (Incoterms)

Benefits for registered exporters

  • Documentation for export shipment to be guided.
  • Cost reduction for the existing shipment.
  • Export anything around the globe via the fastest and safest route.
  • 24/7 customer support via calls, emails, and chats.
  • Shipment is made solely via a secure freight forwarding portal.

Import Export trade issues

Another important factor for all the new as well as existing exporters is to find the market and the importers. Export business like other businesses is not free from scammers and cheats. One needs extensive links and networks to identify the right customer/importer both in B2B and B2C segments.

Considering this may be a mind-boggling exercise, many people opt out of export business. This is where you need people like us. EXIM ANYTHING is your local contact, anywhere within the country.

How to make -B2B Import Export- simple  

Anyone can do Import-export business of any product/s in demand. We as a reputed Import-export company will assist you in making your export business lucrative and a piece of cake. All you have to do is to get in touch with us. We are accessible by phone, website, app, social media channels.

By:

S M Faredie