Introduction

Starting an import business needs a proper guidelines and understanding of the foreign market. Before starting an import, it is also important for an importer to obtain all the necessary information in matters associated with foreign trade agreement. Starting an import is not a get-rich-quick-scheme. Like an export, import also requires a lot of preparations.

Selecting the Commodity Market
Proper selection of the commodity market is an important factor before starting an import. Commodity market data and information collected  during research helps to prepare the commodity market report. The right market can be selected by answering the following the following questions.

• Is the product(s) an importer need to conducting his business available domestically?

• Is there a lucrative and untapped domestic market for an imported product?

• Does importing a product increase competitiveness as a business?

An importer should only proceed; if he is determined that importing certain goods will definitely make his business profitable.

Once the importer is confirmed about his importing decision, then he should proceed towards the development of the proper import business plan. While making the import plan, importer of India must evaluate the various government policies and guidelines including the rules and regulation as mentioned in the Foreign Trade Policy Procedures, 2004-09.

An importer is always free to import goods in India provided that such goods are imported under the regulations of ITC- HS Classifications of Export Import items. ITC-HS codes are divided into two schedules. All the rules and regulations related to the Indian import is mentioned in the Schedule I of the ITC.

Prohibited goods and items are not at all allowed to import while restricted items are only allowed to import though a special license issued by the Ministry of Commerce, Government of India.

State Trading Corporation of India
There are certain goods that can be only imported outside the country through a recognize agency. State Trading Corporation of India is also one of them that import a number of essential commodities to cover the domestic shortfalls and hold the price line. STC serves the national objective by arranging timely imports at most competitive prices. In the process, the Corporation makes best use of its strength in handling bulk imports, vast infrastructure and above all an experience of over four decades in fulfilling the needs of the industry. The STC is responsible for the import of goods such as bullion, vanaspati and edible oils, pulses, hydro-carbons, metals and minerals and fertilizers.

Table of Contents

Starting Exports

• Chapter 1 Starting Export Introduction

• Chapter 2 Basic Planning For Export
• Chapter 3 Identifying Products For Export
• Chapter 4 Market Selection
• Chapter 5 SWOT Analysis
• Chapter 6 Registration of Exporters
• Chapter 7 Export License
• Chapter 8 Myths About Exporting
• Chapter 9 Export Sales Leads
• Chapter 10 Exporting Product Samples
• Chapter 11 Export Pricing And Costing
• Chapter 12 Understanding Foreign Exchange Rates
• Chapter 13 Appointing A Sales Agents
• Chapter 14 Export Risks Management
• Chapter 15 Packaging And Labeling Of Goods
• Chapter 16 Inspection Certificates And Quality Control
• Chapter 17 Export Documents
• Chapter 18 Custom Procedure For Export
• Chapter 19 Invisible Export
• Chapter 20 Export To SAARC
• Chapter 21 Export To CIS
• Chapter 22 Organisations Supporting Exporters

Starting Imports

• Chapter 1 Starting Import Introduction
• Chapter 2 Preliminaries for Starting Import Business
• Chapter 3 Registration of Importers
• Chapter 4 Guidelines And Rules for Import
• Chapter 5 Selecting The Overseas Exporter
• Chapter 6 Import License
• Chapter 7 Import Trade Governing Bodies
• Chapter 8 Import of Samples
• Chapter 9 Finalizing The Terms of Import
• Chapter 10 Import Duties
• Chapter 11 Import Risks
• Chapter 12 Import Incentives under Special Schemes
• Chapter 13 Methods of Payment in Import Trade
• Chapter 14 Import of Personal Baggage
• Chapter 15Import of Gifts
• Chapter 16 Impor of Cars Vehicle Commerical and Non Commercial
• Chapter 17 Import of Gold And Silver by NRI
• Chapter 19 Custom Clearance of Imported Goods
• Chapter 18 Import of Drugs And MedicineImport of Drugs And Medicine
• Chapter 20 Import of Scrap And Waste Products
• Chapter 21 Import Laptops And Computers
• Chapter 22Import Dos And Donts

Exports Finance

• Chapter 1 - Payment Methods In Export Import
• Chapter 2 - Payment Collection Against Bills
• Chapter 3 - Letter Of Credit (L/c)
• Chapter 4 - Trade Documents
• Chapter 5 - Pre Shipment Trade Finance
• Chapter 6 - Post Shipment Finance
• Chapter 7 - Forfeiting Factoring
• Chapter 8 - Bank Guarantees
• Chapter 9 - Transport Risk
• Chapter 10 - Contract Credit Risk
• Chapter 11 -Country Political Risk
• Chapter 12 -Currency Risk
• Chapter 13 - Export Import (Exim) Policy
• Chapter 14 - Foreign Exchange Management Act (FEMA)
• Chapter 15 - Fedai Guidlines