India has come to the fore of the global export market today, providing a multitude of products and services to international buyers worldwide. With a diverse economy, abundant resources, and initiatives like ‘Make in India,’ conducting export from India has presented highly lucrative opportunities.
Most importantly, global selling platforms have transformed how businesses reach out to their international audience. Owing to the holistic tools, resources, and support provided by these eCommerce platforms, it has become incredibly convenient to sell in prime global marketplaces and reap massive profits. Automated Electrolyte Analyzer in Abu Dhabi UAE
How to Export from India? 7 Crucial Points You Need to Know
1. Devise a Comprehensive Export Strategy– While bestselling global products are often discussed at length in online trade forums, sellers should conduct full-fledged market research before deciding their product inventory. Assess market demand, profitability, and competition, along with the linguistic, cultural, and socio-economic factors in the destination country.
2. Understand the Legal and Regulatory Framework– To export from India, getting your IEC (Importer-Exporter Code) from the Directorate General of Foreign Trade (DGFT) is compulsory. Thereon, read the Import-Export Policy carefully to understand the important export guidelines and procedures. As an exporter from India, you should also be aware of the legal framework of the country you are exporting to. For instance, customs procedures and taxes will play a crucial role in determining your overall delivery time and profit margins.
3. Acquire the Necessary Registration/Permits for Holistic Documentation– Before setting sail in the sea of export, you need to have all the licenses and paperwork ready. Apart from the IEC code, as mentioned above, you should have a valid GST certificate, commercial invoice, packing list, landing/airway bill, certificate of origin, and so on.
4. Work on Product Adaptation and Packaging- The packaging standards for cross-border shipping and global products are much higher than the regular packing carried out for domestic deliveries. Multiple safety regulations, technical specifications, and labeling guidelines need to be complied with.
5. Seek Applicable Export Incentives and Governmental Support– As an online seller from India, you need to be well aware of the latest governmental schemes, tax reliefs, and financial incentives to boost export. Checking your eligibility and applying for benefits under them can boost your profitability. Some of the most important export-centric schemes that you can apply for as an Indian exporter include the Export Promotion Capital Goods Scheme (EPCG), the Interest Equalization Scheme (IES), the Remission of Duties and Taxes on Exported Products (RoDTEP), and the Market Access Initiatives (MAI).
6. Register with the Right Online Selling Platform– To export from India, the easiest route you can take is to register with a global eCommerce platform like eBay. With the extensive resources, tech stack, and overall support provided by the platform, your efforts get highly streamlined. From listing tools and shipping guidance to the latest marketing/promotional tools, performance/metrics tracking, and a host of tutorials, eBay has facilitated the journey of thousands of successful exporters from India.
7. Hire the Right Cross-Border Shipping Services– Among the factors that impact global online selling, the reliability of the international shipping service facilitator is paramount. Consider important factors like cost, speed, tracking, reliability, insurance, and your target market before liaising with a vendor.
Conclusion
When the demand for Indian goods is overwhelming worldwide, why limit your sales endeavors to domestic markets alone? Gone are the days when the export was the monopoly of a handful of Indian corporations, and the process was steeped in red tape.
Today, export procedures, compliances, and paperwork have been greatly simplified, expedited, and made transparent. Even a small-scale online seller can join an eCommerce platform, apply for the necessary permits online, and conveniently reach out to international buyers in a matter of days.
You can generate substantial revenue through global selling with the right guidance, support, and knowledge. Make sure you stay updated about the latest export regulations, build relationships with overseas buyers, and implement robust digital marketing strategies to strike a chord with your target audience.
