How to start import export business in India?

India in recent years has seen major growth in the export and import of goods and services in India. Every year's numerous start-ups and companies joining the race to venture into this area.

Getting started

Pan Card: To establish a business organization you need to have a Pan card issued by the Income Tax Department for registration.

Form a business entity: According to the management pattern, your business must be registered first with the government of India. It can be a sole proprietorship, partnership, private limited company, or LLP.

VAT Number: You also need to obtain a Service Tax registration or a VAT registration certificate.

Current Bank Account: After successfully completing the above steps you have to open a current bank account in order to carry out the transaction exclusively for your business.

Obtain an Import Export Code (IEC): It is the most important requirement to start your import-export business. IEC can be obtained online by applying at the DGFT website.

Documents Required for Import Export Code (IEC):

1.     Personal PAN card or Company PAN card

2.     Applicant’s photograph

3.     Copy of a canceled cheque from the business’ current account

RCMC Registration-cum-Membership-Certificate: Depending upon the class of your product, it is granted by the Export Promotion Councils.

There are around 26 export promotion councils from where you can get an RCMC issued.

Once a is valid IEC and RCMC are issued, you are now set to run an import-export business in India.

Opportunities available with exporters

The import and export of goods or services play a huge role in a country’s GDP growth. It also makes a country stay connected via trade through the rest of the world. Having said that, business entities in import-export the arena can explore various platforms to get started with, one of such platform is expostall.com.

Expostall.com is India’s leading B2B marketplace for exporters in India that intends to provide the business directory for Manufacturers, Suppliers, exporters & national or international buyers. Users can do a free listing of their products and generate instant leads from across the globe; users can also chat instantly with intended suppliers for bulk or wholesale requirements.

Go visit www.expostall.com -your gateway to global trade

Source-: https://bit.ly/2UzEHFX