Glossary of frequently used terms in Exports
ATA Carnet A customs document, which enables one to carry or send goods temporarily into certain foreign countries without paying duties or posting bonds.Acceptance The act of a drawee acknowledging in writing on the face of a draft, payable at a fixed or determinable future date, that he will pay the draft at maturity.
How to Export
You probably want to start an export company or want to start exporting the goods that you manufacture, outside India and enjoy the high profits of exports! This guide will show you how to do this. However, before we go into “How to export?”, let us try to understand what exports are all about and whether you and your company are in a position to benefit from exporting.
Possibility of YOUR success in exports!
Products won’t sell anywhere if they can’t compete. To compete, your product must match or exceed the appeal of others — in meeting needs, in quality, in price, etc. Are you export-competitive? You may be export competitive even without realizing it. For example, if your product has sold well in the domestic market, chances are it will also sell abroad!
Many companies do not export at all. Other companies do not export as much as they can. Why do so many companies not export? The usual reason is “I’m satisfied with the domestic market” or “I’m too busy with the domestic market to think about exporting.” That’s understandable in a very large market like India.
Do you have the money and capital required for exporting?
In this section we shall talk about all the costs involved in exporting. This will give you a clearer picture of exporting and also give you an idea about the kind of finances that will be required.