We give You a competitive edge over others by letting you know about your major competitors and what are their exporting value compared to yours, where they source their products and the current industry trend for the importers.
Market research is the very first step for an exporter. He must carry out surveys in order to find the markets best suitable for the products which he plan to export outside. If he wish to target a particular market, then he should study that specific market and find out the products which are suitable to export there. Also this research could include competitive research and analysis which are beneficial from the future prospects.
The second most important thing is to be familiar with all rules, regulations and policies of foreign trade. Exporters must consider the trade agreements between the countries before starting the export. Also there are agreements between India and international trade organizations.
Exporters must also be aware of Non Tariff Measures (NTM), which are all measures other than normal tariffs namely trade related standards, regulations, procedures, licensing systems and even trade defence measures such as anti-dumping duties etc which have the effect of restricting trade between nations. NTMs have become popular after lowering the tariffs across the globe. Members use these measures to straighten the entry barriers for products and services. Countries with lower tariffs mostly use the NTMs.
Exporters need to register with the DGFT (Directorate General of Foreign Trade) in order to get IEC (Importer Exporter Code) code Number fore commencing business. It's a 10 digit unique code issued by DFT to Indian businesses. In India, IEC code is a mandatory to do import and export of goods and services.
Indian Government always organizes new schemes and promotion programmes for trade to assist exporters in their international trade. They include trade blocks like ASEAN and CIS. Also there are programmes which enhance the bilateral trade thorough agreements with other countries. Exporters should ensure if the products all the specifications and quality of specified in the agreement with chosen country/countries while selecting the products for export. Standards laid down by Indian Standards Agmark must be met besides other International certification bodies.