The first step for an exporter is to carry out a survey of the International market to identify suitable markets for the goods he wants to export. Alternatively, he could study a specific market to identify the goods suitable for export to that particular market. He should also study the present competition and future prospects. The following are some sources of data / information can be tapped for carrying out such studies:-
Familiarisation with Policies, Procedures and Agreements
It is very important to be familiar with all the policies, regulations and procedures governing foreign trade, as well as foreign trade agreements between India and other countries and international trade organisations, before embarking on a venture. Assistance of Indian Commercial Missions abroad can be sought to gain desired information about the regulations, standards and trade data of the countries of interest.
Exporters must also be aware of Non Tariff Measures (NTM), which are all measures other than normal tariffs namely trade related procedures, regulations, standards, licensing systems and even trade defence measures such as anti-dumping duties etc which have the effect of restricting trade between nations. With the lowering of tariffs across the globe, NTMs have come into prominence with Members using these measures to erect entry barriers for goods and services. Database of country wise and product wise NTMs.
Before commencing business, you need to register with the Directorate General of Foreign Trade (DGFT) and obtain Importer Exporter Code Number. IE Code is unique 10 digit code issued by DGFT to Indian Companies. This is a mandatory requirement to carry out import from or export to India. Exporters also have to obtain PAN based Business Identification Number (BIN) from the Directorate General of Foreign Trade prior to filing of shipping bill for clearance of export goods.
Exploring Export Opportunities
The Government actively assists exporters by through Trade Promotion Programmes and Schemes and by providing Trade Promotion Assistance. These include programmes for enhancing bilateral trade by entering into agreements with countries or trade blocks such as the CIS and ASEAN. While selecting the goods to export, it is important to ascertain that it meets the quality and other specifications laid down in the chosen country / countries. It must meet the standards laid down by Bureau of Indian Standards or Agmark as applicable, besides other International certification bodies.