If you're actually serious about this. I suggest you first take a trip to China and second work with a trusted agent.
You can get done in less than 100k INR per person.
I can put you in touch with an agent. Indian guy living in China for a decade or so. We use him quite frequently.
You should work with a trusted agent. If not my contact, you can find one through your connects.
The agent will work to look after to A to Z of all imports, shipments, paperworks, even negotiate on your behalf, ensure samples of new products reach you timely, modifications and customisation are done, catalog is updated every time.
And the reason I recommend a trip to China is because you'll be able to work with the agent and explore factories and suppliers. This will give you a good idea on the quality, the SKUs available and even newer stuff that you can sell.
//
That being said. If you're looking to start small.
You'll need to register a firm and get an IEC code.
Work with an Indian logistics firm in one of the port cities that works with China based shipments. They'll be able to consult you properly on other legalities - including custom duties etc.
