08 Jul 2020

Reading Time: 2 min India has begun work on a continuity plan to kick-start exports once the country emerges from the shadows of the Covid-19 pandemic. The plan includes cutting down import dependence, especially from China, by focusing aggressively on substitution while improving safety compliance and quality goods to gain global market share. The commerce and industry ministry is c...

03 May 2020

The first and the primary reason for export are to earn foreign exchange. Secondly, companies that export their goods are believed to be more reliable than their counterpart domestic companies assuming that exporting company has survived the test in meeting international standards.Thirdly, free exchange of ideas and cultural knowledge opens up immense business and trade opportunities for...

27 Apr 2020

Introduction Exports are the goods and services produced in one country and purchased by residents of another country. It doesn't matter what the good or service is. It doesn't matter how it is sent. It can be shipped, sent by email, or carried in personal luggage on a plane. If it is produced domestically and sold to someone in a foreign country, it is an export. Exports are one compone...

26 Apr 2020

Export in itself is a very wide concept and lot of preparations is required by an exporter before starting an export business.  To start export business, the following steps may be followed:       1) Establishing an Organisation To start the export business, first a sole Proprietary concern/ Partnership firm/Company has to be set up as per procedure with an attr...

18 Apr 2020

It is necessary to obtain PAN based Business Identification Number (BIN) from the Customs prior to filing of shipping bill for clearance of export good and open a current account in the designated bank for crediting of any drawback amount and the same has to be registered on the system. In case of Non-EDI, the shipping bills or bills of export are required to be filled in the format a...

17 Apr 2020

As per the Foreign Trade Policy, it is mandatory to obtain IEC for export/import from India. Para 2.05 of the FTP, 2015-20 lays down the procedure to be followed for obtaining an IEC, which is PAN based. An application for IEC is filed online at www.dgft.gov.in as per ANF 2A, online payment of application fee of Rs. 500/- through net Banking or credit/debit card is made alon...

13 Apr 2016

In business, there’s an expression: To have and to hold, from this day forward. … Oh, wait, that’s a marriage vow. And even then it doesn’t bind. Here in the sales-verse, people coming and going like serial monogamists can sting your bottom line: Onboarding new hires is costly and time-consuming. Organizations must pay to find and vet potential new hires; they also need to invest at leas...