![]() ![]() ![]() EPC’s, Indian Missions abroad, overseas chambers of commerce can also be helpful. Participation in trade fairs, buyer seller meets, exhibitions, B2B portals, web browsing are an effective tool to find buyers. Export promotion agencies, Indian Missions abroad, colleagues, friends, and relatives might be helpful in gathering information. Exporters can also evaluate the markets based on the export benefits available for few countries under the FTP. (For more information Click here)ĥ) Registration cum membership certificate (RCMC)įor availing authorization to import/ export or any other benefit or concession under FTP 2015-20, as also to avail the services/ guidance, exporters are required to obtain RCMC granted by the concerned Export Promotion Councils/ FIEO/Commodity Boards/ Authorities.Īll items are freely exportable except few items appearing in prohibited/ restricted list.Īfter studying the trends of export of different products from India proper selection of the product(s) to be exported may be made.Īn overseas market should be selected after research covering market size, competition, quality requirements, payment terms etc. ![]() 500/- through net Banking or credit/debit card is made along with requisite documents as mentioned in the application form. An application for IEC is filed online at as per ANF 2A, online payment of application fee of Rs.Para 2.05 of the FTP, 2015-20 lays down the procedure to be followed for obtaining an IEC, which is PAN based. As per the Foreign Trade Policy, it is mandatory to obtain IEC for export/import from India.(To apply PAN Card Click here )Ĥ) Obtaining Importer-Exporter Code (IEC) Number It is necessary for every exporter and importer to obtain a PAN from the Income Tax Department. To start the export business, first a sole Proprietary concern/ Partnership firm/Company has to be set up as per procedure with an attractive name and logo.Ī current account with a Bank authorized to deal in Foreign Exchange should be opened.ģ) Obtaining Permanent Account Number (PAN) To start export business, the following steps may be followed: The FTP 2015-20 has been extended till 30th September, 2021.Įxport in itself is a very wide concept and lot of preparations is required by an exporter before starting an export business. As per FTD & R act, export is defined as an act of taking out of India any goods by land, sea or air and with proper transaction of money. Presently Foreign Trade Policy 2015-20 is effective from 1 st April, 2015. Exports and Imports are regulated by Foreign Trade Policy notified by Central government in exercise of powers conferred by section 5 of foreign trade (Development and Regulation) Act 1992. ![]()
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