Export & Import Defination with Benefites & Procces for Indian
Export & Import Defination with Benefites & Procces for Indian 📘 What is EXPORT? Export means selling goods or services from your country to another country . Example: India exports spices, textiles, machinery, chemicals, etc. to foreign countries. 📘 What is IMPORT? Import means buying goods or services from another country into your country . Example: India imports crude oil, electronics, medical equipment, etc. from other nations. 🔄 EXPORT PROCEDURE (Step-by-Step) 1️⃣ Register your company Obtain GST, PAN, IEC (Import Export Code). 2️⃣ Product selection & market research Identify which product has demand in foreign markets. 3️⃣ Find buyers Through B2B portals, exhibitions, agents, or direct marketing. 4️⃣ Price quotation (Proforma Invoice) Send a PI including product details, price, and delivery terms. 5️⃣ Agreement & payment terms Decide payment mode (Advance, LC, DP/DA). 6️⃣ Production / Procurement Manufacture or source the products. 7️⃣ Quality c...