Wait...
  1. Home >
  2. Exim >
  3. HOW-TO-IMPORT >
  4. Starting Import Business Introduction.

Online Export Import Data Search

Complete Training Video : Click Here

Starting Import Business Introduction.


Introduction

Starting an import business is a goal of more than thousands of merchants and businessman. Like an export business, import business is also very profitable business, if an importer proceeds with the right strategies. However, the long term success and profitability of an import business greatly depends on the importer’s knowledge and understanding about the international market and foreign market analysis.

Today, importing goods from abroad has becomes a big business. Everything from beverages to cars--and a staggering list of other products that one might have never imagined has now become the part of the global import. Millions of products are bought, sold, represented and distributed somewhere in the world on a daily basis.

Reasons for Import

There are number of supporting reasons why import business and services is growing at such a fast rate:-

Availability: An individual or business man or an importer needs to import because there are certain things that he can’t grow or manufacture in his home country. For example Bananas in Alaska, Mahogany Lumber in Maine and Ball Park franks in France.

Cachet: A lot of things, like caviar and champagne, pack more cachet, more of an "image," if they're imported rather than home-grown. Think Scandinavian furniture, German beer, French perfume, Egyptian cotton. It all seems classier when it comes from distant place.

Price: Price factor is also an important reason for import of products. Some products are cheaper when imported from foreign country. For example Korean toys, Taiwanese electronics and Mexican clothing, to rattle off a few, can often be manufactured or assembled in foreign factories for far less money than if they were made on the domestic country.

Import in India

The rising middle income groups of consumers in India and their increasing levels on expenditure on various products has resulted a faster rising demand of the Indian import business. Major imports of India include cereals, edible oils, machineries, fertilizers and petroleum products. Total import from India estimated to be around US$187.9 billion. India is also a bulk importer of edible oil, sugar, pulp and paper, newsprint, crude rubber and Iron and steel.

Import Regulatory Body

In India, all the activities related to import are handled by the Directorate General of Foreign Trade (DGFT), a government organisation that also controls the export business in India. DGFT and all its regional offices work under the Ministry Commerce and Industries, Department of Commerce, Government of India. All the procedure and policies in matter related to the import is announced by the DGFT through its notification, appendices and forms.


Table of Contents


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 15-03-2019
Notification No. 22/2019- Customs (N.T.)
Amendment to the Notification No. 63/1994-Customs (N.T) dated 21st November, 1994, by notifying Dera Baba Nanak LCS

Date: 15-03-2019
Notification No.23/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 15-03-2019
Notification No. 07/2019 - Customs
Seeks to amend notification No. 152/2009-Customs dated 31.12.2009 so as to grant tariff concession in respect of goods under tariff sub heading 4809 90 imported from Korea RP under the India-Korea Comprehensive Economic Partnership Agreement (CEPA).

Date: 14-03-2019
Notification No. 13 /2019-Customs (ADD)
Seeks to prescribe provisional assessment for 'Saturated Fatty Alcohols' when originating in or exported from subject countries by M/s PT. Energi Sejahtera Mas (producer) Indonesia through M/s Sinarmas Cespa Pte Ltd (exporter/trader) Singapore and imported into India.

Date: 12-03-2019
Notification No. 8/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 9/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 10/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 11/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Notification No. 12/2019-Customs (N.T./CAA/DRI)
Appointment of Common Adjudicating Authority by DGRI

Date: 12-03-2019
Circular No. 10/ 2019-Customs
Scheme for Rebate of State and Central taxes and Levies on export of garments and made-ups (RoSCTL)



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001