The idea of starting an export business like the other agricultural product suppliers in India might seem like a far-fetched dream at first. However, it is not as difficult as it may sound the first time. To inaugurate an export business of agricultural products in India, you will need to follow some crucial steps. The Internet can definitely help you out in this aspect. However, we would also suggest you follow our tips and be a bit careful while completing government-related papers. So, without making any further ado, let’s get started with it!
Choose the Best Product
There is a myriad of agricultural products available in the current market. However, if you are just beginning your career, it will be better for you to choose a single option and stick with it. So, you can take a look at the data of the other agricultural product suppliers and consider the performance of their offerings. If everything seems to be decent and profitable for you, then you can begin with the same. However, choosing an option, which does not require a huge amount of capital, might be ideal for beginners.
Keep an Eye on Your Target Market
Almost every agricultural product has its own dedicated target audience. Hence, if you want to build your business quickly, then you will need to learn how to please them. Moreover, you will also need to research the other agricultural product suppliers who are operating in the same market. The foreign transfer policies for agricultural products are considerably different too. So, before you can begin your journey, you will need to check up on everything to get a headstart over your competition in the market.
Establish an Organization
Once you have researched everything thoroughly, then you can start fulfilling your dream of establishing an organization. You will need to undergo various legal procedures during this period. So, to go over everything smoothly, you will need to opt for an expert, like AgriFarms. As one of the best agricultural product suppliers, they have been operating in this arena for a prolonged period and can be of your assistance. You can either give them a call or make an appointment through e-mail. They are always here to help you out!
Obtain Your PAN Number
Both an exporter, as well as an importer, will need to have a PAN (Permanent Account Number) for their organization. You will need to get it from the Income Tax Department. Once you have gotten it, you will also need to create a bank account with regard to your organization. Be sure to opt for the one that deals in Foreign Exchange. Otherwise, you will not be able to get foreign currency through your sales. Last yet not least, you will also need to get –
- An IEC Number (Importer-Exporter Code)
- RCMC (Registration Cum Membership Certificate)
- Get the ECGC approval
Once you get your hands all on these, you can then inaugurate your organization and begin trading in foreign currency.
Creating an organization and having all the required certificates isn’t going to be enough for you to have a healthy business. In addition, you will also need to increase your online presence. Otherwise, buyers from another country will not be able to learn about you or your offerings at all. It may hurt the prospect of your business massively in the future. So, be sure to keep your eyes open in this aspect.