A vital factor in initiating any export company is clear understanding and detail information & knowledge of products to be exported. In order to be successful in exporting one must fully understand its foreign market and do proper research rather than try to tackle every market in a single basket. Overseas design and product must be studied properly and considered carefully. Because there are specific laws dealing with International trade and foreign business, it is crucial that you familiarize yourself with state, federal, and international laws before starting your export business.

  1. Establish an Organization/ Company
  2. A bank account
  3. PAN Card
  4. Import Export Code (IEC)
  5. RCMC and getting registered with Income Tax Authorities.

 

Price is also an important factor. So, before starting an export business an exporter must consider the price offered to the buyers. As the selling price depends on sourcing price, try to avoid unnecessary middlemen who only add cost but no value. It helps a lot in cutting the transaction cost and improving the quality of the final products.

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