What are the documents required to start export business from India??, How one can start export business from home ??
Are you guys are also facing these kinds of questions ?? don't worry ! Today I am going to teach you what are the exact documents and processes are required to start export business from India.
Please note that before opening an account in any bank please make sure that the bank is authorized dealer of RBI, then and then only you can do foreign transactions with that bank.
Indian government has established many Export Promotional Councils (EPC) as per products to promote the Indian export. After getting IEC you need to get the Registration Membership Certificate (RCMC) to avail the different benefits of exports. Depending upon your product you can apply online for RCMC on respective EPC website. For example, if you you want to export mangoes then you need to get RCMC certificate from APEDA. Likewise according to your product you can get RCMC from respective EPC.
Step 2 : Product & Market Selection :
Now this is very crucial step to go with. There are thousands of products you can export from India. But many people get confused about with which product they should go ahead. My personal opinion is go with that product in which you have a sound knowledge. If you are totally newbie then start with small products like handicrafts or decorative items. In my opinion product knowledge is the key to success in export business. Once you have chosen the product then start networking with the reputed suppliers of your products.
Before choosing the market for your product make sure you did the market research of particular market. Before entering in any market you must analyse demand, supply, logistics, competition in that market. If you choose wrong market from your product then there are chances that you may fail in export business.
While choosing product for export please make sure that your product is not in prohibited/banned products of Indian government.
Step 3 : Website & Online Presence :
Once you are ready with all documents and your product & market, now its time to build your online presence. Generally in local business there negligible importance of website. But when you are going internationally, then you must have your own website. If you contact any buyer by cold call or email then he will check about you and your company on the internet. If he fails to find good info about your company and your products then he may get confused whether tog ahead with you or not.
In addition, you can also register with many B2B websites like Alibaba. If possible then try to be active on social media and keep posting the content about your product.
Step 4 : Finding International Buyers : Finally we have reached to a step where we need to find a trusted foreign partner/buyer to whom we can start trade. There are so many ways to find genuine international buyers like from B2B websites, personal visits etc. In my next article I am going to share you top 5 ways to find international buyers.
Step 5 : Packing, Loading & Custom Procedures : Now after you have got advance payment and purchase order from buyer then it is time to pack the goods as per buyer's requirement. If you are confused about packing then please ask buyer about his packing requirements. Otherwise it may create dispute between you and buyer later.Then load your goods into the cargo. Simultaneously, approach to your CHA to start the custom documentation for clearing your goods. CHA is a person which will help you to clear your goods and prepare necessary documents required for export on the behalf of you.
Step 6 : Banking Procedure :
After the shipment has done, you need to submit a set of documents to the bank for payment processing. I am listing below the documents required to submit in the bank.
I hope you find this article informative. If you have any queries then please let me know in comment section.
Thank You !
