Question: I need your help in starting an Export business on a small scale in India. Could you please help me out with the below questions
1) How can I get an order from another country?
2) Which are the countries with which doing business is safe and secure?
3) What are the types of items which are good moving (produced in India) in foreign markets?
4) How would I do sourcing?
5) Can I get any help in finance from Government?
Answer: First of all you need to select the country from where you want to get the order? Or you have to select it depending upon your products. If your products are tentative then you have to think a bit that which country have a mass demand or which country is best for me for business?
Ideas and Opportunity in Export Business
- Once you are selected with the country, then you need to analyze the market of that country and need to get a through idea.
- As far as the security and safety is concerned, you will be able to judge the country only after checking past records, economical condition, political condition etc. If you are sure about the country the question of the security of the consignee comes up.
- For that also, so many ways are there to get assurance about the overseas parties. You can ask for the Letter of Credit, Advance Payment terms, Document against Payment system etc.
- You can also get pre shipment and post shipment insurance coverage from the EPCG of India. For knowing the help from governments help you have to visit the office or branch of EPC and EX-IM bank of India.