Best product for trading business in india
While selecting a buyer care should betaken on the following aspects: Please click here Buyer should be prepared to do business on safe terms of payment viz. Buyer net work in his country should be got verified. Incaseof selection of agent, query should be made from the Agents Association in thecountry of import about the reputation of agent and also from the IndianEmbassy or Embassy of the country concerned. Agent can also be asked to givereferences of the companies represented by him, products represented by him,country represented by him and the name main buyers etc.
Itis necessary to know the expertise and business turnover of agent in theproduct which is being exported so as to form an idea about working capacity ofthe agent. What should be the Terms of payment? Normally export order should be bookedon the basis of letter of credit. However, other terms of business can also beconsidered depending on the confidence of the exporter in the Buying Company.
It is necessary to take assistance of a reputedconsultant to undertake export documentation. A regular exporter is advised to have his own experienced staff in this work. The export order can be solicitedthrough any of the following methods: After obtaining complete list ofbuyers, a communication can be sent to buyers with details of productssoliciting export order.
A personal visit can also be undertakento the buyer alongwith full preparation about the sample of products to beexported, export prices, delivery schedule, printed literature etc. A beginner can advertise its productsdetails in the relevant business magazines and In-House magazines of Chambersand Trade Associations for soliciting export orders. Advertisement in business magazines will bean expensive venture whereas advertisement in In-House magazines of Chambersand Trade Associations may be better ThroughBuying agents: Participation in trade fairs isanother important and effective method of reaching prospective buyers.
This method also educates the beginner on theproducts sold in the market. These Trade Fairs are held overseas and also in India.
Listing of products profiles an important trade portal. How to select a fair for participation? Selection of trade fair can be done afterobtaining full details of trade fairs being held in various countries. Care should be taken to select fair in suchcountries where there is potential for exports or else the fair in which buyersfrom all over the world visit for sourcing.
There are fairs which are held in important business centres whichattract buyers from all over the world. Details of such fairs can be obtained from the EPC concerned or from thewebsite www. Preparation for participation in tradefair should be done in a very comprehensive manner after selection of the rightfair in the right country.
Knowledge about thecountry in which trade fair is taking place should also be collected particularlyabout the business system, competition being faced, price structure likelydemand pattern, tariff structure etc. Detailed guidance about properpreparation for participation in trade fair can be obtained fromthe EPC concerned. How to get the names and address of business magazines? Details of business magazines in various countriescan be obtained from EPCs concerned, Indian Embassies overseas and foreignembassies in India.
One of the easy ways getting details ofbusiness magazine is through Ulrich Directory of Magazines. This may also be available on the internet. Duty drawback scheme for exporters: The objective of the scheme is to refund the incidence of custom duty, excise duty additional custom duty , and service tax etc.
The assistance in terms of Reimbursement of Space charges subject to conditions is provided to exporters for participation in International shows. India incurred the highest trade deficits with the following countries:. India incurred the highest trade surpluses with the following countries:. India placed 54 corporations on the Forbes Global rankings.
Many of these are major Indian export companies. Below is a selection of some of the biggest Indian corporations. The World Factbook, Field Listing: Imports — Commodities , Central Intelligence Agency.
Accessed on March 27, TradeIndia. Accessed on March 27, World's Top Exports Trade metrics that inspire global thinking. India incurred the highest trade deficits with the following countries: