How to Start Import Business?
54 videos • 18,958 views • by Harsh Dhawan - Export Experts Global How to Start an Import Business from India: A Step-by-Step Guide Starting an import business from India is a promising venture, as the country is an active participant in global trade. However, like any business, it requires a clear strategy, compliance with regulations, and thorough research. In this YouTube series, we will walk you through the essential steps to launch a successful import business from India. 1. Identify the Right Products The first step is to choose what to import. Research high-demand products in the Indian market that aren't readily available locally. Popular imports to India include electronics, machinery, luxury goods, and specialized raw materials. Use market analysis tools, import data, and trade reports to identify trends and demand patterns. 2. Find Reliable Suppliers Once you've selected a product, it's time to find trustworthy suppliers. Platforms like Alibaba, Global Sources, and trade shows are great for sourcing international suppliers. It’s crucial to verify the supplier’s credibility through references and certifications, ensuring consistent quality and reliability. 3. Understand Import Regulations Next, you need to understand India's import regulations. This includes obtaining an Importer Exporter Code (IEC) from the Directorate General of Foreign Trade (DGFT), which is mandatory for any import/export business. Be aware of customs duties, tariffs, and product-specific regulations such as BIS certifications, if applicable. 4. Manage Logistics and Shipping Choose a reliable logistics partner to handle your shipments. Ensure you are aware of the Incoterms (international commercial terms) used in contracts that define the shipping responsibilities between you and the supplier. 5. Marketing and Sales Once the product arrives in India, the final step is to market and sell it. Build a distribution network, create an online presence, or partner with retailers to get your product to the market. Through this series, we'll dive deeper into each of these steps to help you build a profitable import business from India!