If you want to know what is Most Profitable Export Business In India.
You are on the right page!
Here in this article, I provided the top 10 high-demand products for export from India and also explained the export process.
Hello, friends welcome to another fresh article on “Indiancustoms.Info”. Here this article explains the complete process of export from India.
I also provided the list of high-demand products.
But before start your export business you need to understand the process of export.
You also need to complete all documentation processes before start your export business and you need to understand the export countries’ document requirements. For example:- To export food items to the USA you need to get FDA.
Also Read:- What Is Deemed Export [Complete Guide]
Most Profitable Export Business In India.
If you are looking for a profitable product to export from India.
Here I listed the top 10 products which are the most profitable export business in India.
list Of Most Profitable Export Business In India
|3||Leather & Leather Products|
|10||Meat & Meat Product|
These products are the most profitable products to export.
Now it depends on you which product you choose to export.
Before choosing any product you need to understand the market of those products.
You can also check what are products you get easily in your local area.
Then check the requirement of those products in other countries.
How To Export From India?
“How to export from India” is the biggest problem for a new exporter because they will not get proper guidance.
You can also join any import-export course before start your export business.
Before starting the export business, you need to do some preparation.
You need to understand how the market works, which are the most profitable products to export.
Which are the best country to export those products and you also need to find the best source for that product.
Here in this article, we will also discuss what are products you can export.
Let’s check out what type of preparation you need to do before starting the export business.
First, you need to do some excises before starting an export business from India.
- Get Importer Exporter Code (IEC) Registration.
- Get GST Number.
- Find Buyer.
- Find Fright Forward.
- Send Samples.
- Cover Risks Through ECGC.
Then you need to arrange some basic documents.
- Commercial Invoice (C.I).
- Packing List (PL).
- Bill of Lading/Air Way Bill.
After arranging documents you need to provide documents to your CHA for the customs clearance process.
- AD Code Registration.
- Checklist Preparation.
- Shipping Bill Filing.
- Stuffing or Loading of Goods in Containers.
- Export General Manifest (EGM).
Let’s look at all this in detail.
Process To Start Export From India.
By following these processes to start an export business you can easily set up your business.
Importer Exporter Code (IEC):-
Before starting export from India you need to obtain IEC (Importer Exporter Code) from DGFT (Directorate General of Foreign Trade).
The second thing you need to do is find a buyer for your product, without a buyer you are unable to export your shipment to other countries.
If you don’t know how to find a buyer for your export business.
You can check our article Best Way To Find Buyers For Export Business.
The freight forwarder provides the freight rate based on the mode of shipment.
The mode of shipment of the cargo can be sea, Air, Land, or even multi-modal.
After finding a buyer and forwarder you need to send samples to your buyer.
It will help your buyer to understand the quality of your product.
Cover Risks Through ECGC:-
By registering with Export Credit Guarantee Corporation Ltd (ECGC) you can reduce the risk of payment.
Documents Require To Export Goods.
You need to arrange some documents to export goods from India.
- Commercial Invoice.
- Packing List (PL).
- Bill of Lading/Air Way Bill.
Commercial Invoice (C.I):-
The commercial invoice is prepared by the exporter after order confirmation. The commercial invoice is like a bill.
The commercial invoice is prepared for valuation purposes.
Packing List (PL):-
The packing list contains item-wise details. How much quantity is contained in each box? It will help the officer at the time of examination.
Bill of Lading/Air Way Bill:-
The Bill of lading/Airway bill is the most important document.
Bill of lading/air waybill is issued by the carrier after loading the goods. It contains the details of the shipment.
Export Customs Clearance Process.
You need to choose a customs house agent (CHA) for the customs clearance process. CHA will help you to customs clear your export shipment.
AD Code Registration:-
Before filing any export shipping bill Exporter or their CHA is required to register their IEC and authorized dealer code number with the customs.
The custom-house agent (CHA) will issue a checklist after receiving the commercial invoice (CI), the packing list (PL), and other documents.
After getting approval from the exporter.
The CHA will file the checklist for the shipping bill number at Ice: gate.
While Exporter can also file the shipping Bill by self-using Ice: gate portal of customs.
The exporter may use the services of a custom-house agent (CHA).
After filing the shipping bill, The assessing officer of the Group (Export department) checks the details filed the shipping bill.
And the exportability of goods as per the foreign trade policy and other laws in force.
After the let export order is given by the customs officer the shipping bill is generated by the system in 2 copies.
1 customs copy and 1 exporter copy, There is a third copy that is the EP copy which is generated later after submission of the export general manifest EGM.
Stuffing or Loading of Goods in Containers:-
The exporter or his agent should hand over the exporter a copy of the shipping bill duly permitting let export to the steamer agent.
Who may then approach the proper officer preventive officer for allowing the shipment the stuffing of the container at the dock is done under the preventive supervision of the customs.
Export General Manifest (EGM):-
Once the ship sails away/Airlifted shipping lines or its agents furnish the export general manifest to the customs within seven days from the date of sailing of the vessel.
EGM includes a list of all the items loaded or present on the ship while leaving the port.
EGM is the final confirmation of material exports of goods.
Only post the issue of EGM would the customs consider the sanction of the drawback claims made against the export shipment.
The above is the general procedure for export.
I hope now you understand which are the most profitable export business in India and how to export from India. Comment below if anyone has any suggestions or queries regarding the goods exporting from India.