India is one of the most rapidly developing countries and is a center of e-commerce business around the world. The e-commerce sector of India has witnessed rapid growth and changes in recent years.
One of the lucrative businesses you can choose to do today is the Import-Export business. The Import Export business is pretty profitable and allows you to create a wide international network with ease.
If you are new to this business, you must know that one of the largest importers of goods to India is China. China is a large-scale manufacturer of goods and products that are imported to India on a daily basis.
It is easier to import goods from China due to several reasons. You don’t have to worry a lot about shipments and delivery.
Moreover, it is easier to import a cheap and wide variety of products from China in comparison to other countries as it is an economically viable option for several people.
To be able to import goods from China, there are a certain set of rules and regulations that has to be followed along with the need of completing a set of legal procedures.
If you are looking for authentic information on how to import goods from China to India, then you are at the right place. We are here to guide you and provide basic information on importing goods or products.
Here is everything you need to know how to import products from China to India:
How to Import Products from China to India?
1. Register your Business:
• The first step to successfully starting any Import Export business is making sure that your business is registered. Make sure you register your company as a legal entity in India.
• Owning or establishing a company or a business that deals with Import and Export have to be registered legally and have a valid registration with the Ministry of Corporate Affairs.
• You can register your company as any of these – Sole proprietorship firm, Partnership firm, Limited liability partnership, Private limited company, or even as a single-person company.
It is important for any company to do the Tax Registration, and after registration of the company, you have to register under the Indian Income Tax Department.
Registration of Tax will let you pay taxes annually, and the company should register under the GST.
After successful tax registration, you will receive a TIN that will help you pay taxes on time. Now, the next step after Tax registration is IEC (Import-Export certificate) code registration.
The IEC code registration is a license granted to your company by the Directorate General of Foreign Trade (DGFT). Here is a list of documents you will need to apply for the IEC code registration:
Company PAN Card
ID and Address Proof of all partners/ directors
Bank Account statement
Banker certificate
3. How to Import Products from China to India:
There are certain things to keep in mind before importing goods from any country. You need to follow a set of rules, and after completing the legal procedures, you must make sure that you reach out to the right manufacturers.
You must make a list of goods you can import, and search a little about the same before going for it. Here are some of the popular goods and products that are imported from China:
Clothes and Textiles
Motor Vehicles and accessories
Electronics
Smartphone components
Pharmaceutical Products
Plastics
Heavy machinery
Organic fertilizers
Consumer products
Machine material
Toys & bicycle
Cosmetics
After listing out the goods you want to export, reach out to authentic and proper manufacturers to import the goods. Find a proper supplier for the goods, and you can do so by popular agencies like Alibaba, etc.
You can also go for third-party providers that will help you reach out to required manufacturers with ease. However, make sure you pre-order some samples of the products or goods you wish to import to cross-check the quality and invest in the better.
Fix the price; check the quantity as well as quality before finalizing the deal. Take necessary steps to avoid any chaos during delivery and shipment.
Make sure all the documents and license is checked or provided. Complete all the legal procedures, and remember that you cannot import any banned products in India.
Once you have the list of the goods and the manufacturers then calculate their landed cost. You will need the product price shipping or freight charges, and customs charges.
You can also go for cheaper rates, and maintain the record of the entire Import procedure clearly to avoid future inconveniences. Hope this article will help my fellow Indians.
Previous Post
Next Post