Starting a business isn’t an
easy task. There are a lot of aspects that have to be considered before one
embarks upon their own business. This holds good for an import export business
as well. The most important aspect in an import export business is shipping as
this is what makes the business tick. This has to be given appropriate thought
for the importance it holds for the business to embark upon successfully tops
the list. Let’s start from the beginning. An individual/company will have to
access an application for an import export code called an IEC.
This can be collected at a
zonal or regional office of the Director General of Foreign Trade. An IEC
application can also be accessed on the net and upon filling with mandatory
details, the same must be submitted post which a clearance or an IEC is
obtained. An entrepreneur must be aware that there are a few schemes that can
be availed out of which one is the Merchandise Exports from India Scheme or
MEIS. This scheme is found under the Foreign Trade Policy of India where the
exporter is provided with numerous incentives, the most important being
compensating the loss incurred by an exporter during the payment of duties
therefore shielding the exporter from any kind of loss.
Once this is taken care of,
the next crucial step is to scout for an apt shipping service and this is where
Indian shipping features. Business owners / Entrepreneurs can be rest assured
that Indian shipping will provide them with the best services for once a
consignment is handed over the fact is that it is taken care of and delivered
in same exact condition that it was received and to its designated place
unscathed/ in mint condition irrespective of the size of the merchandise. Then
come the customs clearance agents. Necessary attention must be paid to these
agents who are given the authority by the international custom authorities.
These agents are also called
forwarding agents/custom brokers hired to manage import export regulations,
paperwork and clearance. As an entrepreneur, if you or your company is keen on
starting an import export business this is the time for the liberalization of
trade deals, that are being signed in support of Indian trade are various. The
all-important decision to start an import export business just requires one to
be equipped with the in-depth knowledge as to how to go about the process as
well as the submission of all the necessary documentation that has been stated
especially Indian shipping.
