Import and Export Information

• Import: Bringing goods or services into a country from abroad for sale or use.
• Export: Sending goods or services from one country to another for sale.
• Purpose of Import: To fulfill domestic demand or access goods not produced locally.
• Purpose of Export: To sell surplus goods and earn foreign exchange.
• Common Import Goods: Raw materials, machinery, finished products.
• Common Export Goods: Agricultural products, textiles, software services.
• Key Documents: Bill of Lading, Commercial Invoice, Import/Export License, Certificate of Origin.
• Regulatory Bodies: Customs Authorities, Directorate General of Foreign Trade (DGFT), etc.
• Trade Policies: Tariffs, quotas, and subsidies affecting trade flows.
• Benefits: Economic growth, job creation, international partnerships.
• Challenges: Complex documentation, exchange rate fluctuations, customs duties.
• Process Steps: Market research, licensing, shipping, customs clearance, delivery.