What are the benefits of Installing an Export Business Overseas?

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Change is a factor which is of prime importance in a business for its sustainment in a competitive market. Expanding your business and taking it to international market can give you many benefits in the long run and so Export Business leads to further growth of your company. What could be the possible benefits when you take your business globally and will you be successful after taking it global? Read further to know the answer of your questions.

Benefits of Installation Of Export Business

• Expanding your business worldwide increases the potential of profits which is limited while doing business only in the country as it restrains access to more customers and businesses.
• In case of market saturation where your products or services confront demand reduction or fierce competition in the domestic market, you can export your products or services in the new markets of different countries.
• Sometimes domestic economy falters resulting into business losses, so it is preferable to grow market for your services and goods in other countries to stay on the safe side as well as for more market opportunities.
• Product exporting can benefit in reduction of risks and balance growth in case of local business cycle fluctuation. When local markets face business crisis, your export business in other countries can balance the growth rate and cover the risk of low growth in the local markets.

Source:https://www.slideshare.net/monadeep/exim-bank-13521805

Promotion Schemes for Export

The Foreign Trade Policy 2015-20 provides Export from India Schemes, under which two schemes for exports of merchandise and services are mentioned, below are given the names:

• Merchandise Exports from India Scheme (MEIS)

The main objective of this scheme is to offset the inefficiencies of infrastructures and associated costs in export of goods, which are manufactured in India having high export intensity therefore increasing competitiveness of Indian Exports.

• Service Exports from India Scheme (SEIS)

The main objective of this scheme is to encourage the export of notified services from India and under Appendix 3D, service providers of these services would be eligible for rewards given as duty credits @ 5% and 7% on Net Foreign Exchange earned from these notified services with effect from 05/12/2017.

To avail these benefits of Export Business, it is necessary to follow certain Export Procedure which includes receipt of inquiry, the purchase order, follow the purchase order, Custom Housing Agent for booking of container, shipment schedule and delivery, certain documents, bill of landing and other such procedures.

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