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

I am basically from Chennai, Tamil Nadu and have been working in shipping lines (logistics) for more than 17 years now. I want to hereafter invest in my own business and want to experiment with entrepreneurship. Exports is what interests me the most. I have done my bit of background research and have decided on exporting areca leaf plates. Can I request you to kindly advise market-wise opportunities in the said product in world trade? Thanks in advance for replying. (A. Ramesh, Business Head, Global Trade Connections, +91-9840115XXX, [email protected])

Dear Ramesh: We are happy to hear of your decision to head into the world of foreign trade. And judging by your excitement and confidence, we are most certain that you have made a firm decision. Your choice of product (Areca Leaf Plate) is mostly exported under two HS Codes (46021990 and 46019900). US, Germany, Australia, The Netherlands, Spain, UK, Italy, UAE, Sweden and Denmark are the top ten export markets where products under HS Code 46021990 are shipped to. (Interestingly however, just the top three markets – USA, Germany and Australia – accounted for close to 75% of India’s exports of the said category in April 2015-February 2016 period.) Under HS Code 46019900, the top importing markets are USA, Germany, UAE, Oman, Saudi Arabia, South Korea, UK, Sri Lanka, Netherlands, and Tanzania. Again, in this case, the top three markets account for over half of India’s exports. We must however add that Areca Leaf Plate as a product is mostly exported under HS Codes that have other products included in the basket. Hence to obtain pure data for such products is extremely critical. If you were to therefore choose the top five markets overall on the basis of most recent monthly exports data (provided by TDB Intelligence Unit), we would suggest you to focus on USA, Israel, UAE, Australia and UK. More of such pure, researched data is available to members of The Dollar Business Grow Programme. (You can read more on TDB Membership Programme on https://in.thedollarbusiness.com/memberships.) Besides detailed product/product group reports, TDB Grow Programme members get access to unique advanced intelligence features like Heat Map, Opportunity Index, Competition Index, Pricing Index, Export Incentive Calculations, estimated freight rates, trade fairs related to your product/product group, World Consumption Pattern, SWOT Analysis, names of recommended ports, etc. – all such compilation of researched facts that make for a tailor-made solution for an inspired and determined fresh entrepreneur like you. Alright, let us give away more here in pure respect of your enthusiasm and spirit to venture into the world of foreign trade with a set product in mind. In terms of geographical availability and supply of the product in India, you are somewhere near the epicentre – maximum shipments currently happen from Tuticorin sea port, with a very few originating from Chennai and Mangalore sea ports. 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!

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

I want to start import-export business. How do I start? (Dipak Chavda, Entrepreneur, Rajkot, Gujarat, [email protected], +91-9687949XXX)

Dear Dipak: First of all, you 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. The manual mode of applications for fresh IEC issuance or IEC modification has ceased to exist since April 1, 2016. DGFT now 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. Besides, the membership also gives you unlimited access to all content on The Dollar Business platform! Now that’s a perfect place to be for an aspiring entrant in the world of exports-imports. All the best!

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

I am a retired senior manager of a bank. I want to start export business. I have obtained IEC and can invest up to Rs.35 lakh. Can you guide me on the choice of product in the current scenario? (Ponnuchamy M. V., Proprietor, Premium Exports, [email protected], +91- 9194432XXX)

Dear Ponnuchamy: Pearls, precious stones and metals; mineral fuels and oils; automobiles; machinery and boilers; pharmaceuticals; organic chemicals; apparel; electrical and electronic equipment; cotton; and cereals ? these were the top ten product categories exported from India in CY2015. Considering the budget you have, we recommend you choose a product from amongst the following broad categories: Pearls, precious stones and metals; organic chemicals; apparel; and electrical and electronic equipment. You can also look at exporting handcrafted products as Indian handicrafts are in great demand overseas in markets like USA, Australia, EU, etc.

In case you want a detailed report on the potential of a product across a particular geography or market, you can type the following URL in your browser – www.thedollarbusiness.com/memberships and subscribe to TDB Grow Programme that offers you research and assitance to venture into exports.

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

How can I find Customs duty rates for various import products? (Rushikesh, Owner, RTW Intermodal Logistics, [email protected], +91-8421444XXX)

Dear Rushikesh: You can look for Customs tariff rates on the Customs website. We however suggest that you do try out other resources as the rates would have changed. You can also subscribe to one of TDB’s Membership Programmes and ask questions to experts at TDB Intelligence Unit to figure out the exact tariffs of the product of your choice. Also, soon, The Dollar Business will launch a feature (can’t reveal the name yet!) that will be ‘the’ stop for those on the lookout on the Internet for “correct” tariff rates for various products, from various countries.

Response by: Indranil Das Executive Editor, The Dollar Business