Table of Contents:
- Getting Started with Import Export Business Registration
- Register Your Company
- List of the documents you’ll need to apply
- Registration-cum-Membership-Certificate (RCMC)
- eCommerce Shipping Company Integration
- Contact a Customs Clearing Agency
- Entrepreneurial Import-Export Business Opportunities
- Putting Money Into Online Marketplaces
- International Market Research
- Selling and promoting other people’s products
- Leather and Medical Products
Since the introduction of eCommerce, which allows enterprises to reach a global audience, the import and export market has been highly profitable in India. We have observed a significant increase in the export and import of goods and services in recent years. A large number of small and medium-sized businesses are starting out of their homes or modest workplaces. Furthermore, such firms have grown in prominence as a result of economic measures. However, as a new entrepreneur, you should be aware of the procedures and papers needed to launch your own import and export company.
Getting Started with Import Export Business Registration
To begin your import-export business in India from the comfort of your own home or office, follow these steps:
For registration, you must have a PAN Card issued by the Income Tax Department.
Register Your Company:
- You must first Register your Company with the Indian government. It makes no difference whether the business is a single proprietorship, a partnership, a limited liability corporation, or an LLP. For this goal, you might employ a lawyer to assist you with the company registration process.
- A Service Tax registration or a GST registration certificate is also required. To learn more about the registration procedure, refer to this guide.
- Have a Current Bank Account: In order to conduct business, you must first open a current bank account.
- Obtain an Import Export Code (IEC): In order to launch an export-import firm in India, you must first obtain an import-export code from the Indian government. You must apply for it on the DGFT’s website.
Important Points Light Box
List of the documents you'll need to apply
1. Registration-cum-Membership-Certificate (RCMC):
After receiving your IEC, you must obtain a Registration-cum-Membership-Certificate (RCMC) (RCMC). The Export Promotion Councils are the ones who give it out. The certificate can be obtained from any of the 26 export promotion committees. You’ll be able to start your import and export firm after you get the IEC and RCMC.
2. eCommerce Shipping Company Integration:
You’ll also need to hire a logistics company to transport your products to clients all around the world. Shiprocket is a courier aggregator that assists such businesses by connecting them with several shipping partners so that they can ship their goods globally at the lowest possible cost.
Over 25,000 brands trust Shiprocket, India’s #1 shipping and logistics aggregator. It offers the most affordable shipping rates, the broadest reach, and the greatest customer support that your company need.
3. Contact a Customs Clearing Agency:
You may require the help of a customs clearing agent who can advise you on the process of getting your goods cleared at ports, customs duty charges, transportation charges, and other aspects of the import-export industry.
Entrepreneurial Import-Export Business Opportunities
Starting an import-export company can be a lucrative venture for eCommerce companies. The government has put up many initiatives to help entrepreneurs, and the import-export sector is flourishing.
There are numerous options available to businesses. The following are some instances of well-known import-export businesses:
Putting Money Into Online Marketplaces
Online marketplaces play a crucial role in the online import-export industry. You can use this to become an exporter, register as a vendor, and connect with clients all around the world.
Each country has its own set of resources and products that can be exported, as well as items that can be imported. You must investigate what you can export to the needy country and what you can import in exchange. If you offer Kashmiri shawls, for example, you can start an export business and sell them to cold countries all over the world.
International Market Research
Each country has its own set of resources and products that can be exported, as well as items that can be imported. You must investigate what you can export to the needy country and what you can import in exchange. If you offer Kashmiri shawls, for example, you can start an export business and sell them to cold countries all over the world.
Selling and promoting other people's products
It is always feasible to hunt for business prospects in an export-import firm by selling things that you do not create yourself. You can work with other companies to offer their products in overseas markets. As an example,
Both tea and tobacco are abundantly produced in India and are in high demand on the worldwide market.
Leather and Medical Products:
India’s leather sector is well-developed, and you can export items like wallets, belts, toys, and handbags, among other things. Similarly, India is gradually establishing itself as a significant exporter of medical supplies such as gloves, gauzes, bandages, and face masks.
Export and import enterprises may always be encouraging and can open up new paths for your organisation if done with caution and attention.
