As India is located near several strong trading countries like China, Bangladesh, and Japan, being an exporter presents a significant opportunity, but also comes with stiff competition. To ensure a smooth and successful export process, it is important to strategically and legally adhere to all relevant rules and regulations.
Understanding the stakeholders and the different stages involved in the export process is crucial. Although there are several online resources available, they are often scattered and lack important details. In this article, we aim to provide a comprehensive and easy-to-follow guide to the import-export process in India.
Below is a list of the import-export processes that you need to be prepared for:
- Get a PAN card and open an account with a bank.
- Acquire an IEC
- Choose the exporter type.
- Become a member of the Export Promotion Council
- Issue PI(proforma invoice)
- Send out a commercial invoice
- B/L issue (Bill of Lading)
- Serve as shipment evidence
- Provide a Certificate of Origin
- Exchange Bill
- Send out a letter of credit
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