India is the seventh-largest country by its area and the second-most populous on a worldwide perspective. It is known by popular mausoleum Taj Mahal and specific Indian cuisine full of fragrant spices and herbs. India isn’t only about the interesting culture, food or history – in the light of data from 2017 this country is characterized by the sixth-largest economy in the world. It has become a fast-growing area due to changes in a political system such as privatization of plenty of state-owned enterprises and state control reduction. This transition let India established itself on the international market. Import from India is an important part of the economy and in 2011 it was the nineteenth-largest exporter in the world.
1. India – a good place to import from
If you were thinking about importing from India it can be a good idea – it doesn’t matter if you have been running up your company already or you want to set up a business. Our guide presents main information about wholesale India imports and reveals some tips on how to start import from India which may shock you into doing business with Indian traders.
2. Who does import from India?
India cooperates with many of countries and it is a party to trade agreements such as Preferential Trade Agreement between India and Afghanistan, Free Trade Agreement between The Republic of India and The Democratic Socialist Republic of Sri Lanka or Agreement On South Asia Free Trade Area. The top export destinations of India are markets of the USA, UAE, Hong Kong, China, Singapore, the United Kingdom, and Germany.
Let’s focus on the first place of countries which willingly buy Indian products – what does US import from India? Electrical and electronic equipment, machinery, mineral fuels, and pharmaceutical products belong to the most popular things.
2. What to import from India?
There is no profitable business without the proper thing. We can point out few the most popular categories of products which are imported from India:
- mineral fuels
- pearls and semi-precious stones
- nuclear reactors
- pharmaceutical products
- electrical machinery
- coffee, tea, and spices
Naturally, you can decide to trade other products – everything depends on the idea you have. All of the presented groups of goods are mainly imported because of the cheap price, unique quality or high demand.
2.1 Make sure the goods are permitted
Before you start looking for cooperators and manufacturers check if things you would import are permitted in your country. There are many regulations about every individual category of products. If you launch unlawful goods you will bear the legal consequences of this operation.
3. Where can you find a supplier?
If you know what you would like to trade in, the next step is to find your new partner from India, who would be your supplier. The best option is to carry out research on the internet. No matter if you want to import clothes from India or buy natural spices there are many websites of Indian producers or traders who offer their goods. There are necessary details such as telephone number, address, and email. The easiest way to enter into communication with Indian partners is sending an email. On the whole, English shouldn’t be a problem for them, but in practice, there can be a language difficulty, so you can always have a message written by Indian translator – that would look professional for sure.
3.1 Let professionals find you a partner
Not everyone is brave enough to look for a partner on their own. Sometimes you can pick wrong and dishonest Indian trader or miss a trick. But it doesn’t mean you have to forget about importing jewelry from India. There are special websites where you can find lists of solid companies with all essential information about them, for example, Indian Trade Portal – use it for getting through to your new Indian cooperator.
3.2 Join trade fairs
Of course, the internet isn’t the only way to find your partner. You can meet them face to face in differently organized trade fairs and get information about importing in India. There are diverse types of conferences, for example, Agrotech India, India Chem, iAutoConnect or Municipalika. Meetings are a good way of networking where you are able to talk to your potential partner in reality and to perform yourself in a competent way.
3.3 Do not forget to settle an account
The choice of products and partners – we’ve got it. Now it is the time for a reckoning. In most cases, you will be obliged to pay down payment. Transactions are conducted by bank transfers and you will get special instruction on how to remit money into an account.
4. India import – how to transport?
One of the last things to do is to organize the transport of your goods. There are a few possibilities – everything depends on the kind of products you would import (to be exact, on the size, quantity, and value). You have to also be aware of the costs of transports. It is connected with all customs duties and taxes in several countries.
In the websites of every transporter, there is an option to check the rate for service. But try to avoid additional costs, for example in India there is an interstate tax, which means that if your products are transferred from another Indian state to another, you have to pay for it – this is why we should settle a place of shipping products with our partner.
Back at the ranch, we can choose from some transport options, such as:
4.1 Courier services
There is an array of different courier services you can choose from. It is more and more package delivery companies which are interested in cooperation with the Asian market. The best option will be checking individual offers and pick the most economic. We should also remember about timescale – for example, import from India to the USA can last about 7 days and it is relatively short space of time in comparison to other methods of delivery.
In most websites of courier companies, you can find not only information about price and the estimated time of delivery but also details connected with duties, taxes, and paperwork. Some transporters explain customs terminology and name prohibited commodities.
4.2 Maritime transport
Maritime transport is a good idea to transport large items. On the websites of forwarding firms, you can find available loading places in India. There is an option to choose the kind of package (intermodal container, carton, pallet or box body), its weight and dimensions – after completing all necessary information we are able to estimate costs of delivery.
In this case, the time of shipping will be longer than in courier services. What is more, in a situation of dangerous atmospheric conditions such as blizzard or storm the time of importing from India would be longer.
4.3 Air Carriage
Transport by planes is the fastest way of receiving your goods – you can take a cargo even after few days. That option can be also the most expensive method of transport goods and it is proposed for products with high value such as imported jewelry from India, perfumes or goods which need to be transported in special conditions. Example of products from this category is food – it doesn’t matter if it is fresh, frozen, packed or of animal origin. There are many regulations about standards of transport, including terms about temperature or the way of packaging.
In the air carriage we are able to pick two methods of delivery:
- Door-to-Door – logistics services take care of your goods from the time of pick-up to the delivery to a final recipient. It is a good option for the most priority packages and in most cases, the air company you would choose will inform you about the status of the delivery that you will be on top of the issues.
- Door-to-Airport – naturally, it is a cheaper option than in Door-to-Door way. Transport of the products is from the place of taking them into the nearest, designated airport of the importer.
Cheap products with high quality and original patterns or taste – there is an array of Indian articles which can become the main part of your profitable business. If you have come up with an idea using presented goods from India you should take a chance and have a hack at the thriving enterprise.
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