What are the requirements for setting up an export business from India? - Study24x7
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20 Jul 2022 11:11 AM study24x7 study24x7

What are the requirements for setting up an export business from India?

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  • Dev kumar

    • India's exports are rapidly increasing and are predicted by the Ministry of Commerce and Industry to reach a record high of $400 billion. Explore Amazon Global Selling's e-commerce exports programme if you're interested in growing your local brand or beginning an export company. It's a simple and seamless approach to connect with customers around the world on various marketplaces. To get started, you need to gather a few documents and fulfill a few conditions:
    Business Registration: As a proprietorship, partnership, limited liability partnership (LLP), private limited company, or public limited company, you must register your brand or business as an entity. Registration with the Registrar of Firms is necessary for partnership firms. Registration with the Ministry of Corporate Affairs is necessary for a firm.
    PAN: A PAN card number in the business's name is necessary for exports. In contrast, a single proprietorship can run an export business using just the owner's PAN card.
    IEC: The Directorate General of Foreign Trade (DGFT), which is part of the Ministry of Commerce & Industry, issues IECs, which are 10-digit import export codes. Any product or service that is being imported or exported outside of a country must have an IEC. One may either obtain the IEC in their own name or that of their company.
    Other licenses or registrations: You might need to apply for several permits depending on the products you want to export and the region you want to sell them to. For instance, you would need a license from the FSSAI, which is simple to obtain online, if you planned to export food.
    Many small and medium-sized firms choose to export goods via e-commerce from India since it gives them access to global markets and consumers abroad. Sellers can connect with 300 million+ customers in 200+ countries and territories with Amazon Global Selling. Once all the requirements are met, you can register with Amazon and launch your export company.

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    Reply 26 Jul 2022 01:30 PM
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