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Import Export Offline Business in India?

Discussion in 'BlackHat Lounge' started by super11, Mar 7, 2014.

  1. super11

    super11 Senior Member

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    Hi,

    I have been doing online business for few years now and I have been longing to start something new offline. The best option that I see for myself is some kind of import export business. (I think ROI would be good/quick and learning process not much) Can someone recommend a good course to start import export business independently? and also, give me an idea about the kind of investment required to start on a small scale? Any other input would be highly appreciated..

    Thanks in advance

    Regards,
    super11
     
  2. divok

    divok Senior Member

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    first you would require a import/exporter number .
     
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  3. super11

    super11 Senior Member

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    Anyone else? Thks in advance!!
     
  4. super11

    super11 Senior Member

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    Hi friends,Any other inputs? thks in advance...
     
  5. magicman2003

    magicman2003 Registered Member

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    What do you export from India..?

    1. First you will have to get IEC code from DGFT. (Once you get your IEC code, register your company address with the nearest post office)
    2. Then you will have to open a current account with your bank. (This is the first step that you should do before applying IEC code)
    3. Your company can be a proprietorship or PVT LTD
    4. Once you get your IEC code, choose what product that you would like to export.
    5. India is good for certain items like ..?

    1. Leather - not raw leather (export of raw leather is banned from India) You can export leather goods(eg leather handbags, purses, belts) and it has the best skilled craftsman.
    2. Gems & Jewellery
    3. Fruits & vegetables and few more (check in google)

    6. Once you choose the product you will have to approach the appropriate board (eg, if coconut there is coconut board, for leather - there is leather export promotion council of India, for fruits & vegetables you will have to approach APEDA etc) and register with them.
    7. Once you register with them Indian Government gives subsides ranging from 1% to 5% and for certain products there is more subsidy for certain products.
    8. Find a CHA (customs house agent). They charge around 2000 INR for a container (for both 20'ft and 40'ft).
    9. Another good organization is ECGC (Export credit guarantee corporation of India). Go speak with them for various payment types like (Letter of Credit, revolving LC etc, DP, DA). They give insurance for DP and DA..and I guess the premium is around 0.40 paise for 100 INR.

    These are some of the organizations which can help you.

    For licensing/ registration etc:

    1. Directorate general of Foreign Trade
    2. Income Tax Authorities
    3. Sales Tax Authorities
    4. Export Promotion Councils
    For regulating export trade:

    1. Customs House
    2. Central Excise Authorities
    3. Port Trust of India/Inland Container Depot
    4. Export Inspection Council of India
    5. Commercial banks
    For safe export trade:

    1. Export Credit Guarantee Corporation
    2. Rating Companies
    3. general Insurance Companies
    4. Indian Council of Arbitration / ICCA
    For export financing:


    1. Export Import Bank
    2. SIDBI
    3. NSIC
    For control of export movements:

    1. Reserve Bank of India
    2. Enforcement Directorate
    For helping exporters:

    1. Directorate General of Commercial Intelligence & Statistics, Kolkata
    2. Indian Embassies in foreign Countries
    3. International Trade Centre, Switzerland
    4. Centre for Promotion of Imports from the developing countries, Netherlands
    5. Federation of Indian Export Organizations
    6. Indian Trade Promotion Organization
    7. National Centre for Trade Information
    8. Indian Institute of Foreign Trade
    9. Chambers of Commerce
    10. Custom House Agents
    11. Overseas Agents
    12. Indian Institute of Packaging
    Some good B2B sites

    There are only few. I guess alibaba is good but beware there are many Chinese scammers. You will have to identify the scammers. Since you have been in Online business you can identify them pretty easily. I have seen tons of scammers in copier paper business. They say they will give A4 copier for 0.70 USD/Ream... They are all scammers..!

    Always use the services of ECGC and accept only LC from a major bank which has branches oversees.


    I tried globalbuyersonline.com but I was not satisfied. But they are pretty cheap..!

    If you any need any information please post here and I can help..!
     
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    Last edited: Jan 6, 2015
  6. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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    Who told you this ? Import and export business in India is not easy at all.
     
  7. magicman2003

    magicman2003 Registered Member

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    very true... I agree with Nut-Nights not to disappoint any body... One of the biggest competitors are China, Bangladesh, Sri Lanka, Vietnam, Thailand etc. Very recently I wanted to export onions.. Our charge was aroung 480 USD/TON, then came a Chinese guy who said he will give the same thing for 250 USD and there came another seller from Thailand who was ready to sell it for 180 USD/TON. So the competition is very very fierce... obviously there is difference in Indian onions and Chinese Onions...