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Why Export?

Exports as also the Imports are essential for the economic development of the country. Whereas exports help country to earn valuable foreign exchange. Earning foreign exchange in turn help us to meet our import requirement mainly Crude, Drawing designs Technology and also to take care of our foreign currency borrowings. All the countries do not have all the resources and skills required to produce certain goods and services. Therefore countries have to depend on one other for meeting their requirements for products and services.

What is the benefit of import and export?

Both import and export bring jobs to the local economy. The benefits of import include giving developing nations a chance to boost their economy, producing higher quality products, and increasing revenue by introducing a new product to a locale.

Governments encourage exportsExports increase jobs, bring in higher wages, and raise the standard of living for residents. As such, people become happier and more likely to support their national leaders. Exports also increase the foreign exchange reserves held in the nation's central bank.

What is Export?

Exports are the goods and services produced in one country and purchased by residents of another country. Exports are one component of international trade. The other being imports.

There is not a single unique product which can be suggested to export from India. In last few years, around many commodities were exported and fetched foreign currency for India. You can export any things i.e.Oil, Gems, precious metals, coins, Vehicles, Machines, engines, pumps, Organic chemicals, Pharmaceuticals, Cereals, Iron , steel, agricultural products, handicraft to name few and services etc.

Where to Export?

One can select the market based on products and can export anywhere in the world.

You can export to China, United States, UAE, Switzerland, Germany, Hong Kong, Indonesia, South Korea, Malaysia, Singapore, Nigeria, Belgium, Qatar, Japan, Iraq, Kuwait, U.K., Iran, Australia, Venezuela, South Africa and all over the world.

What are the preliminaries to start an export business?

To start export business, the following steps may be followed:

  • Setting up of an appropriate business organization and naming the business
  • Deciding on the LOGOS, Email ID, fax nos. etc.
  • Opening a Current account with a bank
  • Choosing appropriate mode of Operations
  • Selecting / Identifying the product, check with FTP about its exportability
  • Collecting the Samples and arranging them properly, Labeling and cataloguing
  • Applying for PAN with IT authorities
  • Registration with local authorities (e.g. Mumbai shops and Establishment Act)
  • Obtaining IEC by applying to them local office of DGFT
  • Getting registration with the concerned EPO as RCMC
  • Making effective Business correspondence
  • Selecting the overseas market
  • Selecting prospective Overseas Buyer
  • Selecting channels of distribution
  • Negotiations with the prospective Foreign Buyer
  • Scrutiny and processing of an Export Order
  • Entering into a formal Export contract

How to Export?

Please Contact National Institute of Foreign Trade,
Mr. R. K. Gupta (Director), Mr. Vinay Pandey
Address : 209, 2nd Floor, Pearl Centre, Above Vidyalankar Classes, Senapati Bapat Marg, Dadar (West), Mumbai
Cell: 74 00 11 22 77 / 84 33 66 33 44 / 98 19 02 35 98 OR
Email: niftcourses@gmail.com OR
www.niftindia.in
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