In today’s world International business Or Foreign business is major agenda for all the countries. International business is the interchange of goods andservices among countries. This type of business gives rise to a worldeconomy, in which prices, or supply and need, affect and are affected by world events. The main reason for countries to deal in international business is to sell their over production and to cover their loss in production. Basically, the products sold by a country to another are referred to as exports while products bought from another country are known as imports. By developing and exploiting their domestic scarce resources, countries can produce a surplus, and interchange this for the resources they want. Today, international business is at the heart of the worldeconomyand is responsible for much of the development and prosperity of the modern industrialized world.
Foreign exchange helps the business to gain more profit and to strengthen theeconomy of its country. International business makes perfect utilization of resources. This is because it produces goods on a very large scale for the international market. There are lots of advantages for business to deal inInternational market.
- Increased revenues
- Decreased competition
- Longer product lifespan
- Easier cash-flow management
- Better risk management
- Benefiting from currency exchange
- Access to export financing
- Disposal of surplus goods
For all these International trade every business needs EXPORT IMPORTlicences to deal business with other countries. Today every small businesses also want to do internationalbusiness with their products, but some people never aware of all these things or other are thinking that getting EXPORT IMPORTlicences is very complicated and lengthy process.
But telling you Truth It’s not that complicated as you think, you can get it in just 15 minutes by applying simple online process by Government of India. I will show you how you can get your EXPORT IMPORT licences in very easy steps.
Step 1 ,
So, first of all you have to open your browser and type dgft.gov.in and go, so first you can see above image of home page of Directorate General of Foreign Trade website by Government of India.
Step 2 ,
Now, you just have to click on Service, in services menu click on IEC and than Online IEC application. As you can see in the above image. After click on that you will redirected to new window will see in next step.
As you can see in above image new window will have field where you have to submit you PAN and click on search button.
Step 4,Here in this window as you can see in above image you have to enter your Name as per mentioned on your PAN and date of birth for Proprietor and date of incorporation for Partnership and Pvt. Ltd. firms. Enter Captcha in box and submit. After submitting CBDT web services verified your PAN details.
Note : Captcha is case sensitive so enter as display to you with Uppercase and Lowercase.
Step 5 ,
As you can see in above image, after your PAN verified by CBDT you see this window where you just have to click on Next button.
Step 6 ,Next window will look like this as you can see in above image. Here you have to enter your Mobile number and your Email Id and Captcha. Click on Generate OTP button after entering all required field.
Step 7 ,After submitting your Mobile number and Email Id you will receive 2 OTP one on your Mobile and other on your Email and you will see the new OTP box and newCaptcha as you can see on the above image. You have to enter those OTP you received in those box and reenter the new Captcha and click on submit.
Note : Provide only that Mobile number and Email you can access right now.
Step 8 ,After the last step you are now on new window as you can see in above image. Here you can see all the steps for further application on right side of your screen.
Step 9 ,So, here in this window as you can see in above image, you have to enter your business details and bank details of your business. Enter your business name in first Entity Name box, than address of your business , City, State, District, Pin code. Next is Nature of Concern here you can select as Proprietorship , Partnership and any relevant as per your business. Next and main Preferred Activity there are 8types of Activity you can choose from below list but i will tell you select Merchant cum Manufacturer cum Service Provider this will help your to business in futureaspect. After this you have bank details box where you have to enter your business bank details. If you have Proprietorship business you can enter your personal saving account details too if dont have businessbank account.
Preferred Activity :
Merchant Exporter Manufacturer Exporter Merchant cum Manufacturer Exporter Service Provider Merchant cum Service Provider Manufacturer cum Service Provider Merchant cum Manufacturer cum Service Provider Others
Step 10 ,
Here in this window as you can see in above image if your business have more than one branch than please add details of the all branches.
Step 11 ,
In this window as you can see in above image you have to enter your Director/Proprietor details what ever concern to you as per your business.
Step 12 ,
Here in this next window as you can see in above image you have to submit your documents. For Address proof of businessPartnership Deed , Sales Deed or whatever relevant to your businessaddress from the given list on website. Images or document size not more than 5 MB and in png or gif format for images and PDF for documents. For ProprietorshipAadhar card, Passport and VoterID also acceptable for address proof.Cancel Cheque with Sign for Bank details document.
After uploading documents you have to click on fee payment, where you have to pay online fee for your EXPORT IMPORT Licences and you know what it’s just 500 Indian Rupees. Many consultant take more than 2000 from you to get you EXPORTIMPORTLicences for your business. After pay online fee just check Verify fee tab. Once it confirmed you ready to move on last 2 steps.
Step 13 ,
Here we now on SecondLast Step to get EXPORT IMPORT Licences for your business. Here you can preview all your details you previously entered and after confirming all the details, you can print this form where you can find your file no, submission date, Econ no. and you save this details as PDF too.
Step 14 , LAST STEP
So, Here WE are on Final Step for your EXPORT IMPORT Licences.
Just Click on Submit and YOU are Done… !
You will get your EXPORT IMPORT Licences ( IEC ) in your Email in just 5 Minutes
This is how your EXPORT IMPORT Licences looks as you can see in above image .
That’s it for today Friends… Please use this information for your business and share with your friends and family.
Please let me know your thoughts and suggestions about this blog in comment section and subscribe for more interesting blogs. if i get 100 likes and 50 subscriber i will write whole series on EXPORT IMPORT that will help you grow your business in this industry.