How to Export from India
What is exports?
Export refers to the term of selling goods and services produced in one country to the other country. Exporting can be profitable way of expanding business, spreading risks and reducing dependence on the local market. Exports and Imports both terms were regulated by foreign trade policy notified by central government of India under the foreign trade act 1992.
Exporting term exposes to new ideas, marketing techniques and ways of competing that you cannot be experienced by staying at home. Prices are always a crucial factor in any export business, so the owners should have the clear idea about the prices to be offer to the buyers.
Some Basics for Export Business
- Clearly identify the goals such as how much earnings are required for starting a business.
- Always review the plans and performance at regular periods for getting professional assistance if needed.
- Setting up contacts with suppliers and other government authorities so as to stay updated and informed.
For exporting products, one should follow the following terms and conditions:
- Sales: It should be very clear that on what price you’ll sell the product, give fee structure and the profits the manufacturer can expect.
- Marketing: Always review the markets on regular basis to touch on any special marketing or promotions for the product such as foreign or domestic market or any local market advertising.
- Target: It is very clear that which country will your representatives sell in? Why are these markets viable? You can make some charts, graphs and table with facts, figures and text for review this.
Identification of Product for Export Business
These are some factors which should follow to choosing products for export:
- The products should be made with consistency of quality that should be comparable with the competitors.
- Prices of the products should be fluctuating very little, even better, but never fall means business stays profitable.
- To verify export status for a particular products.
- Verify seasonal effects about products.
- Related requirements for labeling and special packaging of products.
- Negotiate with buyers after determining the buyer’s interest in the product, continuity in business, and demand for giving discount in price may be considered.
- Selecting a product, after studying the trends of export of different products from India.
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