Export / Import deals with a lot of complexity as several agencies such as Customs, DGFT, GST, RBI, Banks, Inspection Agencies, Shipping Companies/Airlines and international buyer are involved. Coordinating and dealing with different agencies is an art which can be mastered over a period of time. Having a mentor can help you go through this with ease and save cost and help build good relationship with your buyer which not only increase exports but also enhance the country’s image and reputation internationally.
Ravi Bhatia help mentor you in following areas:
- One to one mentorship, where he will guide you practically step by step on how to start your exports
- Provide consultancy services in the area of (i) Helping you design a Professional website (ii) Help and guide on how to market your products internationally (iii) Provide Digital Marketing services and help you generate leads (iv) Help you guide on how to do Ecommerce Marketing (v) How to write effective emails to prospective international buyers (vi) Help you in getting Importer-Exporter Code (IEC) without which you cannot do export (vii) Help you in getting RCMC from respective Export Promotion Council (viii) Helping you to get your goods custom cleared for both Exports as well as Imports (ix) Helping you in submitting Export Documents to your Bank.
01
ABOUT IEC
Importer Exporter Code (IEC) is a business Identifier Number which is a 10 digit code. Issuing Authority for IEC is Directorate General of Foreign Trade (DGFT).
DGFT is a central government body which comes under Ministry of Commerce with headquarters in New Delhi and 24 regional offices across India. IEC number allotted by DGFT is permanent but it is mandatory to update the IEC annually between April to June so that IEC does not get deactivated.
Without an IEC, you cannot carry any import / export activities. To get IEC, you need to apply to DGFT with supporting documents and its prescribed fees.
02
ABOUT RCMC
Full form of RCMC is Registration Cum Membership Certificate. RCMC is issued by Export Promotion Council. To boost exports from India, Export Promotion Councils (EPC’s) have been established sector wise. For example: if you deal in Engineering Goods then you should register with Engineering Export Promotion Council (EEPC), if you deal in Agricultural and processed food products, then APEDA (Agricultural and Processed Food Products Export Development Authority) is the concerned EPC, if you deal in Spices, then concerned EPC is Spice Board.
If you deal in various product categories, then the concerned Export Promotion Council is FIEO (Federation of Indian Exporters Organization). For Products such as Agricultural or Processed foods, spices etc., it is compulsory to have RCMC without which you cannot do exports from India For other products such as Engineering, Plastics etc., it is not compulsory to have RCMC but it is advisable to have RCMC. Without RCMC, you will not be able to get any export benefits from the Government. So it is advisable to have RCMC for your product.
Besides getting export incentives from the Government, having RCMC offers following advantages:
• EPC’s organize buyer-seller meet and also organize international exhibitions.
• EPC’s gives visa recommendation letter so that exporter can get business visa quickly.
• Also EPC’s gives importer’s data to its members to increase exports from India.
• They act as a bridge or fill communication gap between the Export business community and the Government of India.
To get RCMC, you need to submit IEC and other supporting documents along with its prescribed fees.
If you deal in various product categories, then the concerned Export Promotion Council is FIEO (Federation of Indian Exporters Organization). For Products such as Agricultural or Processed foods, spices etc., it is compulsory to have RCMC without which you cannot do exports from India For other products such as Engineering, Plastics etc., it is not compulsory to have RCMC but it is advisable to have RCMC. Without RCMC, you will not be able to get any export benefits from the Government. So it is advisable to have RCMC for your product.
Besides getting export incentives from the Government, having RCMC offers following advantages:
• EPC’s organize buyer-seller meet and also organize international exhibitions.
• EPC’s gives visa recommendation letter so that exporter can get business visa quickly.
• Also EPC’s gives importer’s data to its members to increase exports from India.
• They act as a bridge or fill communication gap between the Export business community and the Government of India.
To get RCMC, you need to submit IEC and other supporting documents along with its prescribed fees.
Export Marketing
We can help and guide you to select your products (there are various export and import product category such as prohibited, restricted, free or canalized i.e. STE category), how to market your goods and services internationally. We can help you select the export market as there is lot of dynamics involved such as demand and supply gap, third country’s competitors, competitor’s in importer’s country, competitor’s in your country, whether India is having free trade agreements with the importer’s country, importing country rules and regulations, its import policy, type of quality certificate your importing country requires, what is the custom duty in your buyer’s country, type of packaging your buyer requires etc.,
You, as an exporter should have a proper website (as without a website, it will be very difficult for you to secure an export order), how to get leads through digital marketing, how to do email marketing, E Commerce marketing, how to approach different agencies and ultimately get an export order. You also must be aware of Market Access Initiative (MAI) scheme which will help benefits exporter to reduce their marketing costs.
You also need to understand the various export / import terms used in International trade such as Incoterms 2020. You should also need to understand various payment terms involved in International trade, understanding Letter of Credit and its various types.
It is very important to check whether your buyer is genuine or not. If your buyer is not genuine, you can be a victim of International fraud. There are various ways to check such as (a) Contacting the Indian Embassy to check whether your buyer is genuine or fake (b) Giving your buyer’s details to ECGC who will check the financial stability and genuineness of your buyer.
After getting an export order, you need to get the goods ready for export shipment (quantity, quality and packaging of goods should match with your buyer’s requirement). You can also get financial support from your bank against a valid export order or against a valid Letter of Credit.
Get in touch with me or at emarkit Services and we will help you navigate these international marketing or financial challenges with ease!
You also need to understand the various export / import terms used in International trade such as Incoterms 2020. You should also need to understand various payment terms involved in International trade, understanding Letter of Credit and its various types. It is very important to check whether your buyer is genuine or not. If your buyer is not genuine, you can be a victim of International fraud. There are various ways to check such as (a) Contacting the Indian Embassy to check whether your buyer is genuine or fake (b) Giving your buyer’s details to ECGC who will check the financial stability and genuineness of your buyer. After getting an export order, you need to get the goods ready for export shipment (quantity, quality and packaging of goods should match with your buyer’s requirement). You can also get financial support from your bank against a valid export order or against a valid Letter of Credit. Get in touch with me or at emarkit Services and we will help you navigate these international marketing or financial challenges with ease!
We can help and guide you to select your products (there are various export and import product category such as prohibited, restricted, free or canalized i.e. STE category), how to market your goods and services internationally. We can help you select the export market as there is lot of dynamics involved such as demand and supply gap, third country’s competitors, competitor’s in importer’s country, competitor’s in your country, whether India is having free trade agreements with the importer’s country, importing country rules and regulations, its import policy, type of quality certificate your importing country requires, what is the custom duty in your buyer’s country, type of packaging your buyer requires etc., You, as an exporter should have a proper website (as without a website, it will be very difficult for you to secure an export order), how to get leads through digital marketing, how to do email marketing, E Commerce marketing, how to approach different agencies and ultimately get an export order. You also must be aware of Market Access Initiative (MAI) scheme which will help benefits exporter to reduce their marketing costs.
Export Import Documentation
Pre-Shipment Export Documents: Before starting the export process, you need to (a) Select the type of organization i.e. sole proprietor, partnership, Limited Liability Company (LLP), Private Limited Company, after selecting the type of organization, you need to complete registration formality (your CA can help you with this) and open your Current Account with your Bank (your branch should have a foreign Exchange Division) (b) Select the product & select your market (c) Have Importer-Exporter Code (IEC) (d) Have GST No (your CA will help you in getting GST No). Without GST number, you will not be able to export goods from India (e) Having RCMC from your respective Export Promotion Council (f) Authorized Dealer code registration no. (14 digit number allotted by Reserve Bank of India to your Bank) should be registered with Customs (Sea or Air Customs) at the time of Port / Airport Registration.
Besides this if you are manufacturer, then registration with MSME is also required. If you are dealing in Food Products, Spices etc., then you need to have FSSAI License (Central). If you are dealing in Agricultural products, then it is compulsory to be registered with APEDA, after which you will be able to export your agricultural goods. If you are dealing in Spices, then it is compulsory to have RCMC of Spice Board without which you will not be able to export spices.
Post Shipment Export Documents: Preparing Commercial Invoice, Packing List, SDF, Certificate of Origin, Quality Certificate, Inspection Certificate, Airway Bill, Bill of Lading and its different types, understanding Incoterms, Different types of Shipping Bill and export incentives, Bank Realization Certificate (BRC), Insurance Policy etc.
Export-Import Documents are not only important to the buyer for custom clearance of goods in his / her country but it should be timely submitted to your Bank and your bank should timely dispatch the same to buyer’s bank. If it is delayed by you or your bank, then importer may incur extra expenses which will either be recovered from you or you may not get repetitive order from your buyer in future.
At the time of export, you have to give a declaration to the Customs / RBI through SDF (Statutory Declaration Form if you’re Port / Airport is under EDI category) or EDF (Export Declaration Form if you’re Port / Airport is not under EDI category) that export proceeds will be realized generally within 9 months (270 days) from the date of export. After realization of export proceeds, Bank Realization Certificate (BRC) is issued by your Bank. This is one of the most important document as export incentives / benefits can be obtained against Shipping Bill, B/L or AWB and BRC. Without realization of export proceeds, you will have to return the export benefits received such as under Duty Drawback.
There are 3 types of risk an exporter faces:
(1) Foreign Exchange Currency Risk (foreign currency fluctuates against Indian Rupees). Example at the time of export, 1 USD = Rs. 83, however at the time of receipt of payment from the importer, 1 USD = Rs. 82. This is a clear loss to the exporter. This loss can be mitigated by taking forward contracts / hedging or opening EEFC A/c which can be utilized for making import payments.
(2) Carriage Risk – this can be mitigated to some extent by taking Marine Cargo Insurance
(3) Payment Risk (i.e. your buyer does not make the payment – this can be mitigated to some extent by taking cover of your export shipment through Export Credit Guarantee Corporation of India (ECGC).
Get in touch with me or at emarkit Services and we will help you mitigate your risks and help navigate these documentation challenges with ease!
Getting your goods Custom cleared for Export / Import
We can help you get an experienced and reliable Customs House Agent (CHA) who will guide you and help in getting your goods customs cleared with ease as per Customs Rules and Regulations.
testimonials
Clients that love us
"Ravi has helped us and our associates in many matters related to international business. He has a deep and practical understanding of the nuances of export import. I have attended his training sessions and found these very insightful and practical. I believe these training sessions are extremely valuable for both entrepreneurs and students".
- Anuj Bhatia, Entrepreneur 
CONTACT US
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Email: ravi@emarkitservices.com / bhatiaravi577@gmail.com