Practical export-import articles from the iiiEM expert team.
Points to Take Care of while Importing in to India Before importing one should take care of the below points for a fair and smooth import: Correct HS Code Classification The HS code determines duty rates and compliance requirements. A wrong HS code can either increase your costs or lead to customs objections. Example: Classifying… Read More »
Small exporters face numerous challenges in ocean freight, including navigating complex regulations, securing competitive rates, and managing logistics efficiently. They often struggle with container shortages, capacity limitations, and supply chain disruptions, which can lead to delays and increased costs. Additionally, smaller businesses may lack the resources and expertise to handle the intricacies of international trade,… Read More »
The recent India-Canada diplomatic faceoff stems from several core issues, including political tensions, security concerns, and differences over handling separatist activities. Ideological differences between the two countries have affected the trade and diplomatic relations. Until 2023, India and Canada shared strong trade ties, educational exchange, and strategic cooperation across several sectors, despite periodic tensions around… Read More »
ECGC formerly known as the Export Credit Guarantee Corporation of India is a government-owned agency in India that helps protect Indian exporters and banks from risks associated with international trade. It’s part of the Ministry of Commerce and Industry and has its headquarters in Mumbai, Maharashtra. The main goal of ECGC is to support and… Read More »
The Export Industry in India is facing several challenges in 2023. Some of the most significant challenges faced by exporters include the following: Infrastructural constraints: Exporters in India often need more infrastructure facilities in ports, airports, and logistics. These constraints make it difficult for exporters to meet the demands of their foreign buyers on time,… Read More »
Gold Imports in India contribute a significant value to the economy. There are import duties that the Indian government imposes on gold. These duties were increased to decrease the gold import as India imports tons of gold for personal use. Gold prices in India shot up immediately as soon as the government announced the hike.… Read More »
In the world of globalization, imports and exports play an essential role in determining the economic status of a nation. India is a significant exporter of textiles, clothes, spices, pharmaceuticals, gold, silvers, organic chemicals, and other such products to the European markets; there is an increase in the business of these products. As the international… Read More »
Russia and Ukraine invasion is quite beneficial for the country of India in terms of export and import of wheat. Both the countries produced wheat in surplus. Their non ending fights have left the other countries with no option but to import wheat from other countries. India being one of the major wheat producing countries… Read More »
Becoming an import-export agent that is considered the easiest way to start with. A commission fee is something that worries a person to some extent. Protect commission fee in import export business is the most important thing. An agent just has to find genuine sellers and buyers, bring them together, and earn commission fees as… Read More »
The sole purpose of being in business is to trade items for a profit and this may not be possible if the trading items are lost or stolen before getting to their destination. Import Export Insurance is a type of insurance cover that relates to goods that are been transported to and from countries. All… Read More »
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