How To Start An Export Import Business

International Trade is not something that came along with globalization, as some of you might have thought. In reality, it is one of the world’s oldest business forms. Trade between two countries has been there since ages and has constantly evolved. With the arrival of globalization, nevertheless, International Trade has undergone a facelift. Today, it has undoubtedly become one of the most lucrative and promising strategies to go international with your business. And if you’re thinking of starting an Export and Import Business, go ahead because it’s a great idea, indeed! Read on to know about the things that you ought to know before starting the same.

You need to begin by studying and researching about the foreign markets. This is because, if you want to become a successful exporter, you must know which overseas market will be the most lucrative for your products. For this, you’ll need to know about the demand of your country’s goods in the varied foreign markets and also about the economic conditions, trends and rules and regulations of those markets, besides the competition and growth potential in those markets. Similarly, if you want to become a successful importer, you need to know about the demand of the different goods in your country and about all the rules and regulations related to its import. You can easily get all this information through your existing contacts or through the embassies, surveys and interviews or by browsing the Internet. By all this, you’ll be able to decide not only the goods that can earn you maximum profit but also the perfect markets for importing or exporting those goods.

Once you’ve decided the goods and the foreign markets for them, you now need to hire a highly competent and result-driven team for the various purposes such as shipping, documentation, packaging or acquiring the goods.

Then comes the time for the government consent for all the export and import activities you’ll be engaged in. Firstly, acquire a registration number from the Taxation department of the country you belong to. Then get the Import and Export License from the DGFT India. But remember, there are certain goods that don’t require any license and hence are exempt to Export and Import License.

If you’re seeking to acquire Import and Export License and are having trouble in the process, avail the Import and Export Licensing Services from the reputed service provider in India. Now, you can go ahead and commence your Export and Import Business right away!