The World Bank and other organisations’ studies have demonstrated that businesses engaged in international commerce are more competitive.

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Import and export are both considered to be part of international trade.
While imports offer a larger market for the purchase of labour, capital equipment, and raw materials, exports broaden the global market for our products.


In the current era of globalisation, where the entire world is a single market, our product must compete internationally if it is to be sold anywhere, let alone the domestic market.

Going global simply implies selling your goods outside of your country’s borders as well as on the domestic market. There are some product categories, such as leather goods, pharmaceuticals, precious stones and metals, automobiles, meat, mangoes, textiles, and cereals, in which India excels. When these goods are sold outside of India, not only do business houses profit more, but India’s foreign exchange reserve also rises, which in turn lowers its trade deficit.

Similar to how imports of goods and services can lower production costs, they can also raise the calibre and effectiveness of our products. There are some processes for which India lacks the technologically advanced machinery. In that circumstance, additional import transactions are required to enable the economically viable production of items with global competence.
From the perspectives of India’s recognition in the worldwide market, the influx of foreign currency, and the maintenance of the trade balance, international commerce is also important for the country.
Every 05 years, the Indian government draughts and publishes its Foreign Trade Policy. Foreign trade policies address the regularisation of foreign trade as well as the announcement of relevant norms and processes.

The most crucial factor in an import-export transaction is

Export and Import codes

IEC is required by law to conduct export-import transactions for products, but not for services; yet, in order to benefit from schemes, IEC is then necessary.

The majority of export transactions are duty-free with no GST charge, as was also previously said that export transactions are from a national standpoint even though they will bring foreign exchange into India, which will increase the foreign currency reserve and also lower the trade imbalance.

GST advantages for export-related transactions

The FTP is the bible for comprehending and conducting both export and import business, and the DGFT is the leading institution for the facilitation and regularisation of international trade.
The government announces a number of programmes to increase exports;

  • Schemes for Merchandise Export Incentive (MEIS)
  • Advance Pricing Schemes
  • Advance Authorization Duty
  • Drawback Schemes
  • Export Promotion Capital Goods Schemes
  • Services Export Incentive Schemes (SEIS)

Understanding the MFN Concept (Most Favoured Nation Concept), Free Trade Agreements, SAFTA Agreements, open category goods, licenced goods, import quotas, national tariff lines, INCOTERM 2011, HS Code, ECGS, and other factors is crucial to effectively managing your import export business in international trade.

Advisory on International Trade

In addition to this, export and import documentation is required for the transaction to be completed successfully; otherwise, the items would either not reach their destination or it will be impossible to realise foreign exchange.

Information pertaining to International Trade

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