Showing posts with label Exports. Show all posts
Showing posts with label Exports. Show all posts

Export Leads

Through Eximguide.com, we can find many Export leads for the buyers and sellers.

It's very beneficial and valuable leads from my point of view. Just have a look and you will decide. There are 8 export leads which i have seen through eximguide.com

1. Appalam / Papad
2. Handicraft products
3. Green Tea products
4. Cashew nuts
5. Spices
6. Fresh flowers
7. Pure honey
8. Pickles

You can find the product details, client details, contacts in that website.
for details: www.eximguide.com/
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IE Code - Imports


Registration to get IE Code Number:

A citizen or a company starting a business for International trade has to Register the Company with the Director of Foreign Trade under the Ministry of Foreign Trade, to obtain an IE Code number, then only one can export materials to other countries and import materials from other countries to India.

Before 1997, it is essential to obtain this I.E Code number from the Reserve Bank of India, for every first time exporter for his export operations. Later, this work being done by Director General of Foreign Trade under the Ministry of Foreign Trade, Govt.of India.

DGFT provides every exporter an unique Import Export Code Number. IE Code Number is a ten digits code required for the purpose of export as well as import. No exporter is allowed to export his goods abroad without IEC number.

Exceptions are there for export to Nepal, Myanmir or to China through Gunji or Nathuala ports.If the CIF value of a single consignment does not exceed Indian amount of Rs. 25,000 /-there is no need to obtain IE code number for export to the above destinations.

What are the benefits of Import Export Code? (IEC)

On the basis of IEC, companies can obtain various benefits like incentives, drawbacks facilities on their Exports/Imports from DGFT, Customs, Export Promotion Councils etc.

The documents required for an IE Code application are listed below :

Demand Draft payable towards the application fee of Rs. 250/-. in favour of Joint Director General of Foreign Trade.
Certificate from the Banker of the applicant's firm in the format given in Appendix 18A (Part B).
Self certified copy of Permanent Account Number (PAN) issued by Income Tax Authorities (both sides).
Two copies of passport size photographs of the applicant. Photograph on the bankers certificate should be attested by the banker of the applicant.
Self addressed envelope duly stamped for Rs.30/-.
These documents may be kept securely in a file cover.

No fee is chargeable for modification in IE Code, if informed within 90 days of such changes.

After 90 days, a fee of Rs. 1000/- is charged.

Rs.200/- payable in the form of Demand Draft for issuance of duplicate IE code number.

Permanent Account Number (PAN):
PAN is mandatory. Photocopy of PAN card has to be submitted alongwith the application. If PAN card is not issued to the applicant then a copy of PAN allotment letter from Income Tax Deptt will also be accepted.

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Country Needs in Imports


Petroleum, Crude & Products
Electronic Goods
Gold
Machinary (Except Electricals & Electronics)
Perls Precius Semiprecius Stones
Organic Chemicals
Coal, Coke & Broquittes etc
Metalifers Ores & Metal Scrap
Transport Equipments
Inorganic Chemicals
Vegetable Oils Fixed (Edible)
Non-Ferrous Metals
Fertilezers Manufactured
Electrical Machinary (Except Electronic)
Manufactures Of Metals
Machine Tools
Medicinal & Pharmacutical Products
Chemical Matirial & Products
Computer Software in Physical Form
Yarn, Fabrics, Madeups Articles
Pulses
Pulp & Waste Paper
Man Made Filament / Spun Yarn (Include Waste)
Silver
Cashew Nuts
Paper Board & Manufactures
Dyeing, Tanng, Colouring Materials
Printed Books< Newspaper, Journals etc
News Print
Synthetic & Reclamed Rubber
Fruits & Nuts (Exclude Cashew Nuts)


Machinery
Vehicles
Aircraft
Crude Oil
Plastics
Chemicals
Textiles
Metals
Foodstuffs
Clothing

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Import - Documents Required

INVOICE AND PACKING LIST -- To be prepared by the Exporter Invoice means the rate by which the seller agreed to sell his goods to the buyer. The terms and conditions necessarily contain Price (Sea or Air Port) of the invoice along with Date of Shipment and Mode of payment. Further, invoice rate should necessarily contain the following terms

F.O.B.- Free on Board (Includes rate of the material,insurance and other charges connected in the process).
C & F - Cost and Freight (includes cost of the material and freight charges).
C.I.F.- Cost, Insurance and Freight (includes cost, insurance and freight charges).

PRICES TO BE QUOTED IN US DOLLAR/POUND STERLING/EURO/JAPAN YEN

Mode of payment with the Importer should cover the following:
Advance payment.
Letter of Credit (L/C).

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How to Import ?

Initially one has to select a name for his/her Company whether it is

Proprietor concern -- Single owner/Proprietor
Partnership concern - Two or more partners in a firm
Limited Company - Two categories viz., private Limited company or Public Limited company
Private limited company is owned privately by a small group of people such as a family. They are not allowed to offer shares (in the company) to the general public and can operate through just one director.

Public limited company is owned by public share holders and they are allowed to offer shares of the Company in the market.

Opening a Bank account:

Next step for Import is Opening a Bank account. Open a Current account in the name of the Company from a reputed Bank

Current Account can be Opened By:

Any resident Indians who are 18 or above in age
Individuals/Sole Proprietorships/Partnerships/Associations/Private and public companies/Societies/Trusts/HUFs, etc.
Clubs, Societies,Trusts and Others like Govt. and semi Govt. bodies, local authorities etc.
Bank requires minimum deposit of Rs.10,000 to Rs.50,000 for opening a current account and it varies from Bank to Bank Generally, nationalised banks require less Minimum Deposit.

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What is Import ?

An import is any good or service brought in from one country to another country in a legitimate way for use in trade. It means that import is to bring in the goods and services into the port of a country from another country. The buyer of such goods and services is known as an "importer" who is based in the country of import whereas the overseas seller is an exporter. Goods that is brought in from another country for sale are provided to domestic consumers by foreign producers is an import in the receiving country, it is an export to the sending country.

The same method of export has to be followed for import also. Both the parties viz, the buyer and the seller compulsorily be registered and should posses I.E.Code number and the same formalities to be followed for import also

A citizen or a company starting a business for International trade has to Register the Company with the Director of Foreign Trade under the Ministry of Foreign Trade, to obtain an IE Code number, then only one can export materials to other countries and import materials from other countries toIndia.

source: http://www.eximguide.com

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Country Needs in Exports



RMG Cotton (Including Accessories)
Cotton Yarn, Fabrics, Madeups etc
Drugs Pharmaceuticals & Special Chemicals
Petroleum Crude & Products
Machinery & Instruments
Manufacture of Metals
Primary & Semi-Finished Iron & Steel Products
Marine Products
Manmade Yarn, Fabrics, Madeups
Transport Equipments
Plastics & Lenoleum Products
Electronic Goods
Inorganic/Organic Chemical
Iron Ore
Rice, Non-Basmati


USA
United Arab Emirates
United Kingdom
Hong Kong
Germany
China
Japan
Belgium
Singapore
Italy
Bangladesh
France
Netherland
Saudi Arabia
Sri Lanka
Spain

more details: http://eximguide.com/
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Export Loans

After obtaining a firm order from the buyer one can approach the Bank where he has current account and apply for a loan for export and after scrutinizing his documents the Bank authorities may release loan.

Exim Bank of India, a Government of India organisation extends full co operation and help to Export oriented firms for pre shipment credit and supplier's credit which enables exporters to extend term credit to buyers on eligible goods at the pre shipment stage.

Indian firms can avail One more service called Guarantee Facilities available with Exim Bank which guarantees to facilitate execution of export contracts and import transactions.

Risk protection against default payment by buyers on goods and services on credit terms provided by the Export credit Insurance and further exporters can avail protection against political and commercial risks.Political risk means a civil war or violence beyond the control of exporter, which cause shipment schedule change and subsequent delay in delivery of goods within the specified time. Commercial risk means insolvency of the buyer, by opting deliberate non payment on goods already agreed by them.

Why Exporters Should Use Exim Bank?
Some of the following facilities are availabe in the Bank:

Short term financing and discounting of the Exporter's receivables covered under EXIMBANK's Export Credit Insurance. It covers the gap between the manufacturers production cost expended and their income from sales.
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Export Packing


To make sure your export packaging is good enough so that your goods arrive intact and undamaged and reach your overseas buyer. Three main types of packaging that are likely to be needed for exported goods.

Transport or export packaging is the outermost layer of packaging and is designed to protect your goods during transit. Examples include wooden crates, metal drums and plastic shrink-wrapping.

Outer packaging is an intermediate layer of packaging, which often also serves a retail-promotion purpose.

Sales packaging is the immediate layer of packaging around your goods - the packaging that remains when the goods reach their end-user.

Labelling on product provides the following important information:
Shipper's Mark.
Country of Origin.
Weight Marking (in pounds and in kilograms).
Number of Packages and size of cases (in inches and centimeters).
Handling Marks (International Pictorial Symbols).
Cautionary Markings, such as This Side Up.
Port of Entry.
Labels for Hazardous Materials.

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Export Credit Guarantee Corporation (ECGC)

The Government of India, under the administrative control of the Ministry of Commerce & Industry, established this body to strengthen the export promotion drive. ECGC managed by a Board of Directors from the Government, Reserve Bank of India, banking, insurance and exporting community. The body assists exporters in recovering bad debts and Provides information on credit-worthiness of overseas buyers. All Branches of ECGC and its HQ are ISO 9001:2000 certified bodies and it maintains largest data base of buyers and with a buyers list with adverse experience.

Further,Export Insurance to be covered from Export Credit Guarantee Corporation (E.C.G.C) with small Exporter's Policy covering risk factor,natural calamity etc, and on payment of charges one can identify the individual buyer's genuineness from ECGC.

Export Credit Guarantee Corporation of India Limited
Express Towers,10th Floor
Nariman Point
Mumbai 400 021. India

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Export Documents

INVOICE AND PACKING LIST -- To be prepared by the Exporter Invoice means the rate by which the seller agreed to sell his goods to the buyer. The terms and conditions necessarily contain Price (Sea or Air Port) of the invoice along with Date of Shipment and Mode of payment. Further, invoice rate should necessarily contain the following terms

F.O.B.- Free on Board (Includes rate of the material,insurance and other charges connected in the process).
C & F - Cost and Freight (includes cost of the material and freight charges).
C.I.F.- Cost, Insurance and Freight (includes cost, insurance and freight charges).

PRICES TO BE QUOTED IN US DOLLAR/POUND STERLING/EURO/JAPAN YEN

Mode of payment with the Importer should cover the following:
Advance payement.
Letter of Credit (L/C).
Documents against Payment (D/P).
Documents against Acceptance (D/A).

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Export Samples

Identify your Importer and sending Free Samples:

Identify your Importer from the importer's list available with the respective Councils and Write letter with samples of buyer's choice to the selected buyer.

The buyer may require for product sample before placing a confirmed order.Hence, it is essential that the samples are made from good quality raw materials and after getting an order, the same quality to be maintained.

To avoid the risk in sending a costly product sample for export, extra care should be taken and while sending a sample, secrecy is an important factor,especially risk of copying the original product is there during export.

An exporter should also know the Government policy and norms for export of samples,before sending a product sample. Always advised to send samples by air mail to avoid undue delay in sending a product sample to the buyer. By cheaper mode it can also be sent through Indian post.

Samples marked Not for Sale are allowed freely for export without any limit.

Samples of value more than Rs. 25,000- It becomes necessary for the exporter to obtain GR/PP waiver from the Reserve Bank of India.

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Export Promotion Council (EPC)

Next step is to join as a Member in Export Promotion Councilslisted below and utilise the services of the councils according to the material export to be exported.

Export Promotion Councils are non-profit organisations for the promotion of various goods exported from India to international market. They are in close contact with the Ministry of Commerce and Industry, Government of India, and functions to bride the gap between the exporting community and the government.

It is inevitable for every exporter or importer to obtain a registration cum membership certificate from the Export Promotion Council. An application for registration should be accompanied by a self certified copy of the IEC number. Membership fee should be paid in the form of cheque or draft after confirming the amount from the concerned EPC. The certificate is valid for five years ending 31st March of the licensing year, from 1st April of the licensing year in which it was issued and shall be valid for five years.

You can find the list of Councils with addresses and select the council according to the material as given below
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Export Business - IE Code Apply


Registration to get IE Code Number:

A citizen or a company starting a business for International trade has to Register the Company with the Director of Foreign Trade under the Ministry of Foreign Trade, to obtain an IE Code number, then only one can export materials to other countries and import materials from other countries to India.

Before 1997, it is essential to obtain this I.E Code number from the Reserve Bank of India, for every first time exporter for his export operations. Later, this work being done by Director General of Foreign Trade under the Ministry of Foreign Trade, Govt.of India.

DGFT provides every exporter an unique Import Export Code Number. IE Code Number is a ten digits code required for the purpose of export as well as import. No exporter is allowed to export his goods abroad without IEC number.

What are the benefits of Import Export Code? (IEC)

On the basis of IEC, companies can obtain various benefits like incentives, drawbacks facilities on their Exports/Imports from DGFT, Customs, Export Promotion Councils etc.

Labels:

How To Export ?

Initially to select a name for the Company and it is to be decided whether it is a
Proprietor concern -- Single owner/Proprietor.
Partnership concern -- Two or more partners in a firm.
Limited Company -- Two categories viz., private Limited company or Public Limited company.
Private limited company is owned privately by a small group of people such as a family. They are not allowed to offer shares (in the company) to the general public and can function just as director.
Public limited company is owned by public share holders and they are allowed to offer shares of the Company in the market.

Next step in Export is to Open a Bank account:

Open a Current account in the name of the Company from a reputed Bank .Current a/c is opened by people who are engaged in trades, businesses. Current account is a bank deposit that can be withdrawn by the depositor at any time,and he is at liberty to operate this account any number of times in a day unlike savings accounts, where only limited transactions are allowed. Current account bears no interest.

Get more information : www.eximguide.com

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What is Export


Materials available in a country sold to other countries which are in need of the material and by which earning foreign money to the respective country is called Export.

In otherwords, an export is any good or commodity for use in trade transported from one country to another country in a legitimate way, for sale or exchange is called export.

Any exporter can decide to export directly or indirectly to a foreign country.

For more details visit: http://www.eximguide.com




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