Choose Your Product: Decide on the product you want to export. Maharashtra offers a diverse range of products including textiles, engineering goods, pharmaceuticals, and agricultural products.
Market Research: Conduct market research to identify potential markets for your product. Understand the demand, competition, pricing, and regulatory requirements in your target countries.
Company Registration: Register your business entity with the appropriate authorities. This may involve registering as a proprietorship, partnership, limited liability partnership (LLP), or a company depending on your business structure.
Obtain Import Export Code (IEC): Apply for an Import Export Code (IEC) from the Directorate General of Foreign Trade (DGFT). This code is mandatory for any person or entity engaged in importing or exporting goods and services from India.
Product Classification: Determine the Harmonized System of Nomenclature (HSN) code for your product. This code helps in classifying goods for customs clearance and tariff purposes.
Compliance and Quality Standards: Ensure that your product complies with the quality standards and regulations of both India and the target export market. Obtain necessary certifications if required.
Documentation: Prepare the required export documentation including:
Commercial Invoice
Packing List
Bill of Lading/Airway Bill
Certificate of Origin
Export License (if applicable)
Inspection Certificates (if required)
Customs Clearance: File the Shipping Bill or Bill of Export with the customs authorities through the ICEGATE portal. Ensure compliance with customs regulations and procedures.
Freight Booking: Arrange for transportation of your goods to the port of export. Choose a suitable mode of transport (sea, air, or land) based on factors like cost, time, and nature of goods.
Port Formalities: Complete port formalities including cargo handling, loading, and documentation. Coordinate with freight forwarders or shipping agents for smooth export operations.
Payment and Finance: Decide on the payment terms with your overseas buyers. Choose from options like advance payment, letter of credit (LC), or other trade finance instruments.
Export Incentives: Explore export promotion schemes and incentives offered by the Indian government such as Merchandise Exports from India Scheme (MEIS) or Export Promotion Capital Goods (EPCG) scheme.
Shipping and Delivery: Monitor the shipping process closely to ensure timely delivery of goods to the destination port. Keep track of shipment status and communicate with buyers as necessary.
Post-Export Documentation: Complete post-export documentation including submission of shipping documents to banks for payment realization and fulfillment of any post-shipment obligations.
Market Development: Continuously explore new markets, build relationships with buyers, and adapt your export strategy based on market dynamics and feedback.
It’s crucial to stay updated with the latest regulations and procedures related to export from Maharashtra and India as they may change over time. Consider seeking assistance from export consultants or trade associations for guidance through the export process.
