How to export from India
How to export from India
Considering that the company is already established with import export code (IEC) / import export license is already obtained and have product(s) ready for export, identified potential buyers or already received / receiving export orders and trying to know as how to export from India.
The exporter needs to be familiar with banking transactions related to foreign trade such as how LC (letter of credit) and other payment terms in global trade practices. To participate in export / import business, the exporter needs to be familiar with INCO terms. INCO terms are published by International Chamber of Commerce (ICC) which is used in import / export business. The exporter who would like to establish contract, they must be familiar with few important terms like ex-works / door to door, FOB, CIF, etc and its each implication. The INCO terms which is published by international chamber of commerce can be referred in the following link:
There are several most frequently used inco terms definitions are given in our site:
Exporter must get Authorised Dealer code (AD Code) from their bank in bank’s letter head. The unique AD code is already allocated for all the banks who operates in India and the banks will issue a letter in a specific format to the interested port through which the exporter would like to export by mentioning the consignee’s account details, their IFSC Code, etc. The exporter must register their bank details with its AD code at the interested port. In case if the exporter transacts with more ports then they should register with all interested ports because this registration is every port specific hence register at every port. The letter from the bank is also port specific hence the exporter has to get the letter for all specific ports independently. Required documents to register AD code at port is as follows:
- AD code number letter received from the bank
- Copy of the self-attested IEC
The AD code registration confirms the bank transaction pertaining to the export transaction and also the duty drawback will be credited if availed.
Now the exporter needs to be knowledgeable to create the documents for export transaction. Here are few list of documents listed:
- Commercial Invoice
- Packing List
- Drawback declaration (if applicable)
- Advance License declaration DEEC (if Advance license scheme availed – if applicable)
- Export Value Declaration
- FEMA declaration
- Annexure C-I (for 100% EOU scheme)
- Pink Shipping bill (for 100% EOU scheme)
- License copy (if DEEC / EPCG license applicable)
- Any other required documents
Commercial invoice for export: The sample commercial invoice can be referred at the following link which is published by government of India.
Packing list for export: The sample packing list can be referred at the following link which is published by government of India.
Whole bunch of documentation can be found at the following link:
The most elaborated procedures related to how to export from India in the above given link.
Once the consignment is exported and received the payment, there are certain export benefits offered by government of India can be availed. The following are few of the export benefits:
- Vishesh Krishi & Gram Udyog Yojana Scheme (VKGUY)
- Focus Market Scheme (FMS)
- Focus Product Scheme (FPS)
- Exports from India Scheme (MEIS), etc