In the world of export-import, each shipment counts. And you cannot afford to make any “uninformed investment”. So, if you have any doubt or a question, ask us. Our team of experts at The Dollar Business Intelligence Unit will be happy to answer your queries. Your question(s), if approved, will also be published on www.thedollarbusiness.com, and/or in forthcoming issue of The Dollar Business

How can I get an import-export trade licence in India? (Muthasim Cherichi, Engineer, Tawazun Precision Industries, Abu Dhabi, UAE, [email protected])

Dear Muthasim: We call it the Importer-Exporter Code (IEC) in India. An IEC is a 10-digit number allotted to a person that is mandatory for undertaking any export-import activities and can be obtained from the Directorate General of Foreign Trade (DGFT). DGFT only accepts online applications for IEC issuance or modification and requires only three documents: (i) PAN; (ii) Cancelled cheque bearing entity’s pre-printed name or Bank Certificate; and (iii) Digital Photograph (3X3 cm). All you need to ensure is that details filled in the application should match with details in the uploaded documents. An online application for IEC, however, can only be made using Digital Signature Certificate (DSC; Class II type). Having said that, an IEC can only be issued to a legal Indian entity against a PAN (Permanent Account Number). So, if you have a subsidiary in India, you can apply for an IEC against the subsidiary’s PAN. Else you need to register a firm/company or a legal entity in India to apply for IEC. In case you have further queries, The Dollar Business Intelligence Unit would like to hear from you.

Response by: Steven Philip Warner, President (VMPL) & Editor-in-Chief, The Dollar Business

How can I get in touch with potential overseas buyers and customers? (Aditya, Proprietor, 4C Diamonds, +91 9923665XXX, [email protected])

Dear Aditya: You can approach your concerned association – Gems and Jewellery Export Promotion Council – for assistance or directly reach out to potential buyers by posting your product information on https://in.thedollarbusiness.com/marketplace. From discovering the best markets to source from or supply to, to overcoming statutory and procedural challenges with respect to exports-imports documentation, to identifying the right logistics partners, International Marketplace understands all your requirements and accordingly connects you with the right market and partners so that you can make a fortune out of foreign trade.
Additionally, since you desire to venture into the world of foreign trade, we would also suggest you to take The Dollar Business Export Potential Test to evaluate how ready you are to take the plunge into a world of business that’s wide and exciting! You can find the test on https://in.thedollarbusiness.com. Of course, the test is completely free! In case you have further queries, do write back to us.

Response by: Manish K. Pandey, Editor, The Dollar Business

We are a manufacturer of safety matches. For the last 30 years, we have been directly catering to the domestic market and supplying to foreign countries through merchandise exporters. We now want to export directly. How can we find foreign buyers? (Ramasamy, Managing Partner, Sri Ram Match Industries, +91- 9443121XXX, [email protected])

Dear Ramasamy: To start an export-import business, you first need to obtain an Importer-Exporter Code (IEC) from the DGFT. An IEC is a 10-digit number allotted to a person that is mandatory for undertaking any export/import activities. Application for obtaining IEC can be filed online on the DGFT website. DGFT only accepts online applications for IEC issuance or modification and requires only three documents: (i) PAN; (ii) Cancelled cheque bearing entity’s pre-printed name or Bank Certificate; and (iii) Digital Photograph (3X3 cm). All you need to ensure is that details filled in the application should match with details in the uploaded documents. Having said that, an online application for IEC however, can only be made using Digital Signature Certificate (DSC; Class II type). You can type the following URL in your browser – www.thedollarbusiness.com/memberships and subscribe to TDB GROW Programme that gives you a Dedicated Account Manager who ensures that your applications for both Digital Certificates and Importer-Exporter Code (IEC) is hassle-free.
When it comes to finding buyers, you can approach your concerned association – South India Match Manufacturers Association – for assistance or directly reach out to potential buyers by posting your product information on https://in.thedollarbusiness.com/marketplace. From discovering the best markets to source from or supply to, to overcoming statutory and procedural challenges with respect to exports-imports documentation, to identifying the right logistics partners, International Marketplace understands all your requirements and accordingly connects you with the right market and partners so that you can make a fortune out of foreign trade.

Response by: Indranil Das Executive Editor, The Dollar Business

I want to import dry lead battery scrap from South Sudan (Africa) into Mundra Port in India. Can I import them from this origin? Or is import of the product from Sudan banned? Please advise. (Alok, Director, Xcel Traders Ltd., +91-9997113XXX, [email protected])

Dear Alok: We assume you want to import waste and scrap of batteries falling under ITC HS Code: 8548. Since the import of products under the said HS Code is restricted you need to apply for grant of an ‘Authorisation’ for import or export of the said items to RA, with a copy to DGFT headquarters in ANF 2M (as prescribed in Handbook of Procedures) along with documents prescribed therein. Original application along with Treasury Receipt (TR) / Demand Draft needs to be submitted to RA concerned and self-attested copy of same needs to be submitted to DGFT in duplicate along with proof of submission of application to concerned RA. [In case our assumption about the intended export product isn’t exact, please write to us.

Response by: Dr. A. K. Sengupta, Chief Consulting Editor, The Dollar Business