Identifying Export Product. IntroductionKey Factors in Products SelectionIntroduction A key factor in any export business is clear understanding and detail knowledge of products to be exported. The selected product must be in demand in the countries where it is to be exported. Before making any selection, one should also consider the various government policies associated with the export of a particular product.Whether companies are exporting first time or have been in export trade for a long time - it is better for both the groups to be methodical and systematic in identifying a right product. It’s not sufficient to have all necessary data 'in your mind' - but equally important to put everything on paper and in a structured manner. Once this job is done, it becomes easier to find the gaps in the collected information and take necessary corrective actions.There are products that sell more often than other product in international market. It is not very difficult to find them from various market research tools. However, such products will invariably have more sellers and consequently more competition and fewer margins. On the other hand - a niche product may have less competition and higher margin - but there will be far less buyers.Fact of the matter is - all products sell, though in varying degrees and there are positive as well as flip sides in whatever decision you take - popular or niche product. Key Factors in Product SelectionThe product should be manufactured or sourced with consistent standard quality, comparable to your competitors. ISO or equivalent certification helps in selling the product in the international market.If possible, avoid products which are monopoly of one or few suppliers. If you are the manufacturer - make sure sufficient capacity is available in-house or you have the wherewithal to outsource it at short notice. Timely supply is a key success factor in export businessThe price of the exported product should not fluctuate very often - threatening profitability to the export business. Strictly check the government policies related to the export of a particular product. Though there are very few restrictions in export - it is better to check regulatory status of your selected product. Carefully study the various government incentive schemes and tax exemption like duty drawback and DEPB. Import regulation in overseas markets, specially tariff and non-tariff barriers. Though a major non-tariff barrier (textile quota) has been abolished - there are still other tariff and non-tariff barriers. If your product attracts higher duty in target country - demand obviously falls. Registration/Special provision for your products in importing country. This is specially applicable for processed food and beverages, drugs and chemicals. Seasonal vagaries of selected products as some products sell in summer, while others in winter. Festive season is also important factor, for example certain products are more sellable only during Christmas. Keep in mind special packaging and labeling requirements of perishable products like processed food and dairy products. Special measures are required for transportation of certain products, which may be bulky or fragile or hazardous or perishable.Table of ContentsChapter 1 Starting Export IntroductionChapter 2 Basic Planning For ExportChapter 3 Identifying Products For ExportChapter 4 Market SelectionChapter 5 SWOT AnalysisChapter 6 Registration of ExportersChapter 7 Export LicenseChapter 8 Myths About ExportingChapter 9 Export Sales LeadsChapter 10 Exporting Product SamplesChapter 11 Export Pricing And CostingChapter 12 Understanding Foreign Exchange RatesChapter 13 Appointing A Sales AgentsChapter 14 Export Risks ManagementChapter 15 Packaging And Labeling Of GoodsChapter 16 Inspection Certificates And Quality ControlChapter 17 Export DocumentsChapter 18 Custom Procedure For ExportChapter 19 Invisible ExportChapter 20 Export To SAARCChapter 21 Export To CISChapter 22 Organisations Supporting Exporters
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 14-01-2021 RBI forms working group to evaluate digital lending Date: 14-01-2021 Bengal coal scam: CBI raids 10 sites Date: 14-01-2021 Agri Picks Report: Geojit Date: 14-01-2021 Budget 2021: PMFAI demands GST reduction on pesticides to 5% from 18% Date: 14-01-2021 'GDP may clip at just 6% in FY22 if vaccine distribution is delayed' Date: 13-01-2021 Inflation cooldown comes as a surprise; industrial output disappoints Date: 13-01-2021 New technologies need to be simpler and more comprehensive for investors to make an educated choice Date: 13-01-2021 Petrol touches new high of Rs 84.45 in Delhi, crosses Rs 91 mark in Mumbai Date: 13-01-2021 Steel Strips Wheels share price up 4% on robust Q3 numbers Date: 13-01-2021 New Foreign Trade Policy from April What is New? Date: 12-01-2021 Notification No. 02/2021 - Central Tax Seeks to make amendment (2021) to CGST Rules, 2017. Date: 11-01-2021 Trade Notice No. 37/2020-2021 Electronic Issuance of Preferential Certificate of Origin (CoO) for India’s Exports to UK under Generalised Scheme of Preferences (GSP) Date: 08-01-2021 Public Notice No. 37/2015-2020-DGFT Enlistment under Appendix 2E of M/s The All India Plastics Manufacturers’ Association (North Zone), Gurugram, Haryana - Authorized to issue Certificate of Origin (Non-Preferential) – reg. Date: 07-01-2021 Notification No. 55/2015-2020-DGFT Amendment in import policy and condition of items classified under Chapter 41 & 43 of ITC (HS), 2017, Schedule – I (Import Policy). Date: 07-01-2021 Notification No.03/2021 - Customs (N.T.) Exchange rate Notification No.03/2021-Cus (NT) dated 7.1.2021 Date: 06-01-2021 Notification No. 03/2021-Customs (N.T./CAA/DRI) Appointment of CAA by Pr. DGRI Date: 06-01-2021 Notification No. 1/2021 -Customs (ADD) Seeks to further amend notification No. 2/2016-Customs (ADD) dated 28th Jan, 2016 to extend the levy of Anti-Dumping duty on Melamine originating in or exported from China PR, up to and inclusive of 28th Feb, 2021. Date: 04-01-2021 Trade Notice No. 36/2020-21 Cyber fraud complaints from Indian Exporters - Trade Advisory reg Date: 04-01-2021 Notification No. 02/2021-Customs (N.T./CAA/DRI) Appointment of CAA by Pr. DGRI Date: 04-01-2021 Notification No. 02/2021-Customs (N.T.) To rescind the Customs (Advance Rulings) Rules 2002
Indian Customs CBEC - Indian Customs Offices Indian Customs Duty Customs Exchange Rate HS Code List - Countrywise Safegaurd Duty Anti Dumping Duty Duty Drawback Rates
DGFT Dgft offices in India Exim Policy IEC Number Dgft Notification Dgft Public Notices Dgft Circulars Trade Notice Depb Rates
Central Excise Central Excise Offices Central Excise Duty Central Excise Notification Central Excise Notification tarrif Central Excise Notification Non-Tarrif Central Excise Circulars Central Excise Instruction Central Excise Manual