How One Can Start Import-Export Business?

EXPERIENCE MAKES MAN PERFECT is true but it does not always. You don't need previous experience in the field, but should have a good head for organizing. Good Head means Good sense as what is a good way to build up a successful business from nothing and have fun doing it? FOREIGN TRADE may be your answer. Not only does it require little financial investment to start, but it offers the prestige of working with clients from all over the world. FOREIGN TRADE can be both ways Import as well as Exports. The goods that do find foreign markets are exports. On the other hand, anything that is manufactured outside the country and brought in for sale is imports. Manufacturers of domestic goods seek foreign distribution; foreign manufacturers want a market. You need to find them, make a solid connection, and establish a business relationship with these companies. Although it seems obvious that all manufacturers would want a worldwide market, it is not easy for a new comer with small means of resources one can have help of an import/export agent which works as a matchmaker. The import/export business is actually smaller than you might think. There are only a few of these businesses - that's why there's plenty of room for more.

EXPORTS :

Do you know some local manufacturers looking for ways to increase their market for the goods they make? or are you planning a trip abroad and want to make some contacts for setting up a business? The market is unlimited and there are hundreds of manufacturers looking for foreign distribution. Sporting goods, clocks, electronic games, radios, house wares, garments, tools - anything can be readily imported or exported if there is a consumer demand and if you can get the products. 
ANALYZE THE MARKET: Keep informed. Read everything you can find about world trade. Look at trade publications, international newspapers, news magazines, and financial reports. Who is selling what to whom? You can get goods to sell, but you have to be sure to study where they are in demand and can get the price to make exportation viable. Your questionnaires will tell you what further and read the journals published by that country - and many are available in English. Do these publications confirm the desire for certain products?
The American market for imported products fluctuates with the value of the dollar in comparison to the value of each other country's currency. And, importation prices reflect that directly. Can American consumers afford to pay the price of certain imported goods? Or will they?
Finding the right market is as important as the actual particulars of making deals and selling goods. What do you think will sell? If you do some careful studies and think about the trends, you'll be able to come up with hundreds of products to import and export.
Establish a good business relationship with a local bank that handles international business. Your personal banker will follow through on the actual foreign transactions, and will help keep your credit afloat. In fact, that is one of the best factors about an import/ export business. Aside from office supplies and correspondence, or possible business trips, you need no personal cash outlay. All you need is good credit and a good reputation. Your banker is your credit manager and will give you valuable advice and references when you deal with both American and foreign manufacturers and distributors.

IMPORTS :

one can make Imports of goods and services freely, unless restricted or prohibited, on payment of Custom and other Levis. First of all one has to obtain Import Export Code from the Regional office of Jt. Director General of Foreign Trade. Certain restricted goods can also be imported by obtaining a specific Import License. Imports can also be made Duty Free under some Export Promotion Schemes (pl. refer Export Promotion Schemes given under other section)

FTP ASPECT :

Can make export freely unless restricted or prohibited. Exporters earn much needed Foreign Exchange for the country which is required to re-pay the Foreign Debts, Oil Bills etc. Normally Export is made under Free Foreign Currency, however to some countries export is made in INR. To boost the Exports Government announces- some Export Promotion Schemes time to time such as Duty Draw Back Scheme, Duty Free Advance Authorization Scheme (DFIA), Duty Free Entitlement Pass Book Scheme, Duty free Imports of Capital Goods, Export Promotion Capital Goods Scheme(epcg).

HOW WE ARE USEFUL:

• We guide the whole import and export procedure.
• We help in arranging IEC Number from the Department which is a basic required document.
• We help in preparing Documents for Imports and Exports.
• We help in Custom Clearance of Imports Export Consignments from almost all the Custom ports of India.
• We help in obtaining all kind of Licenses under various schemes (mentioned above)
   

CONCERNED GOVERNMENT AUTHORITIES

• Director General of Foreign Trade (DGFT) –Ministry of Commerce
• Customs
• Export Promotion Councils
• Reserve Bank of India
• Central Excise