Exports business in India provides a tremendous opportunity to aspiring entrepreneurs. Exports are an engine of economic growth for any country. By entering the exports arena, you could diversify your markets and minimise risks, augment your revenue generation stream and above enhance competitiveness through improvisations in product and reap economies of scale. You could also pride in providing employment subsequently to several numbers of population thereby helping the Indian economy.
Any company before taking a dive, should assess whether key parameters like production resources and financial resources are in order. As a prospective exporter, you must ensure that you have procured the basic quantity of raw materials required in the business and have sufficient supply of the same, assess your ability to increase production capacity, be competent to manage multi skills and work across cross cultural geographies and workforce. More importantly, you must make the necessary ground checks regarding your financial resources both internal and external sources. Ask yourself whether your cash reserves would suffice to meet your requirements in the gestation period to sustain your export business (say for at least 3 to 6 months to begin with). Do you have adequate financial succour from Banks and other lending institutions? Do you have access to and awareness about financial sops from government?
There are more key areas that you must consider. Strengthen your legal resources and network. Gain good appreciation of compliance with international legal requirements, protection of Intellectual Property Rights and the nuances of Free Trade Agreements.
For entering into the exports business, you should follow and comply with the following first steps:
|The exporter should either be a firm or company||Possess a Permanent Account Number (PAN)|
|Should have a Bank Account||Registration with Export Promotion Councils/FIEO (RCMC)|
|Procure the Importer & Exporter Code No. (IEC) from the Regional Joint Director General of Foreign Trade, C&E Wing, VI Floor, Kendriya Sadan, 17th Main Road, Koramangala II Block, Bangalore-560034, Phone: 080-25537213/215|
|Director General of Foreign Trade (DGFT), Ministry of Commerce & Industry which helps in the Formulation of Foreign Trade Policy.|
|Central Board of Excise & Customs (CBEC) which monitors physical movement of goods (exports/imports).|
|Reserve Bank of India (RBI) which handles remittances connected with import/export realisation and repatriation of export proceeds.|
VTPC is the nodal agency for the promotion of international trade from the State of Karnataka. Established in the year 1965, it is a registered society under the aegis of the Department of Industries & Commerce, Government of Karnataka. It has a key mandate for the implementation of ASIDE Scheme also.
The VTPC conducts the following activities/programs on a regular basis for the benefit of the exporters fraternity in Bangalore and across the various districts of the State:
|Export Awareness Programs (1 Day)||Export Training Programs (2 Days)|
|Export Management Training Programs in Bangalore (6 Days)||Entry Strategy Seminars/Workshops/ Interaction Meets w.r.t Exports, WTO, IPR, etc.|
|Interaction Meetings with the concerned government department/statutory and regulatory bodies w.r.t exports, challenges and grievances on specific issues.|
|Assistance to exporters through the Facilitation Cell.||Participation in Exhibitions and Trade Fairs both domestic and international.|
|Active role at the Karnataka Pavilion in IITF, New Delhi.||Market Development Assistance Scheme (MDA).|
|Dissemination of information pertaining to the international trading landscape in Karnataka to the export community through the launch of an e-magazine titled e-Xport Zine.|
|Assistance to Women and SC/ST entrepreneurs/artisans for participation in exhibitions within the State and outside the State.|
|Market Development Assistance Scheme (MDA).||Trade related overseas information services.|
|Assistance to State for creation of Export Infrastructure.||Conduct of Export Awards.|
The Facilitation Centre has been launched to handhold new exporters, especially the trainees of the various Export Awareness, Training and Management Training Programs to assist them take off independently. The Centre would also provide a platform for representation and redressal of exporters grievances. It would also support exporters in obtaining the IEC Code and Certificate of Origin.
Certainly! We have a certain procedure for Membership and registration. Please click here
For availing the various financial schemes and incentives, you need to first enrol as a Member of VTPC. We would encourage you to avail membership and not miss out on the vast connectivity that it would open up for you in terms of assistance, credibility, etc. Once you obtain Membership, the VTPC Secretariat would guide you on the process of availing the incentives. You could be eligible for Market Development Assistance (MDA) scheme for one, subject to a few parameters. click here for details.