Exporting business allows companies and small business owners to sell their goods and commodities to other countries. Export is a great business idea for rapid growth. It will help you expand the business to the international market and increase the reach across borders. There are many export business ideas that you can start in India.
One of the best export business ideas is the fish export business. More than 50 million people depend on fishing for their income across the world. It is in high demand in the market. India is a major exporter of fish in the international markets. So, starting a fish export business is both profitable and reliable. If you don't know how to start a fish export-import business, read the steps mentioned below.
How to Start a Fish Export Business?
Want to know how to start an import and export business of fish? Read the step-by-step process given below:
1. Check your products
The first step in starting your exporting business is to check how your goods are defined. There are two types of goods, prescribed and non-prescribed goods. The prescribed goods include shellfish, oysters, mussels, clams, salmon, different fishes, scallops, etc.
Non-prescribed goods are goods that are not prescribed for exporting purposes. These goods might require specific registration and certification to cover the goods into a prescribed category. Once the goods are prescribed, you can continue the exporting process.
2. Importing country requirements
The requirements of different countries are different from each other. So, you must meet the importing requirement of the country you are exporting your products to. The manual consisting of the list of food items is known as the Manual of Importing Country Requirements (Micor). It includes the items and country requirements, such as meat products, dairy, plants, fish, live animals, eggs, etc. The fish products include finfish, seafood, crocodile meat, etc.
The next step is to register the fish export business. It allows you to export fish products and fish to the international market. The exporter can register through the Export Documentation System. The registration applies to manufacturers, processors, storage facilities, freight forwarders, producers, warehouses where products are packed before exportation, etc.
For registration, you must:
- Approve the products for domestic purposes
- Have an approved arrangement of business
- Have an application to register an export establishment
- Pay all the outstanding charges
- Pay all the export fees and additional charges (if any)
4. Find a supplier
A supplier is required if you are exporting goods that are manufactured by someone else. It is essential to source products from certified and export registered establishments. The suppliers must have certifications and registration documents for verification and exporting purposes. It allows keeping a check on the quality of goods and seafood. The goods must be organic or biodynamic.
5. Export eligibility
The next step is to gather evidence of export eligibility. You must ensure that all the certificates, declaration and other documents are ready to request an export permit. It includes the declaration of compliance, transfer declaration and organic produce certificate. The declaration of compliance ensures the quality of goods and if they are fit for human consumption. It must meet the requirements stated under Export Control (Fish and Fish Products) Rule.
The transfer declaration is made when you receive or dispatch the fish goods from one registered establishment to another. An organic produce certificate ensures that the goods are organic or biodynamic.
6. Request an export permit
Once you have the documents and certifications, you can request an export permit to export your fish and fish products. It would help if you got the export permit before shipping the products. You need to select the fish product codes while requesting a permit. You need to select the fish product codes while requesting a permit. The codes might be different for different countries. It is used in the customs declaration.
7. Declare the export goods
After receiving the export permits, you might need to make a custom export declaration. All the goods need to be declared to the customs department before exporting. An Export Declaration Number will be issued to the exporter. The goods that are not in the list of declaration will not be processed.
8. Export the goods
The last step is to export the goods. After the declaration is passed, goods can be exported from one country to another. To export the goods, you must meet the requirements of the above-mentioned steps. If you do not meet a single criterion, you will not be eligible to export the fish and fish products to other countries.
Starting a fish and fish products exporting business is a profitable business idea in India. It is in high demand as India is one of the major exporters of fish and fish products globally. So fish export is one of the most viable import and export business ideas in India. You can export seafood or products made from fish, like fish oil, fish jam, fish extracts, beauty products, etc. These products have a high market demand. You can start a fish exporting business by following the step-by-step guide mentioned in the article.
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Q. How to start an import-export business?
Ans. The steps of starting an import-export business are as follows:
- Create an import-export business plan
- Identify the products you want to sell
- Obtain a PAN card for business
- Get import-export code
- Obtain the registration cum membership certificate for the business
- Explore the product opportunities in the market
- Find your target customers
- Export-import the products
Q. What are some of the most successful import and export business ideas?
Ans. The best import-export business ideas include online importing, dropshipping, vehicle export, auto parts business, IT products export, clothing, beauty and health care products, art exports, export-import consultant, sell craft online, warehousing business, transportation business, etc. All of these are the best import and export business ideas to start in India.
Q. How can I start an import-export business from home?
Ans. You can start an import-export business from home by following the steps written as follows:
- Select the products for import and export
- Create a website
- Determine the business licenses you need for import-export business
- Find a supplier
- Ship your products
- Offer great customer service
Q. How much does it cost to start an import-export business?
Ans. The initial investment required for an import-export business ranges between INR 65,000 to 70,000. The cost might change depending on the business activities and location of the business. The costs will increase as and when your business grows. It can go as high as INR 2 lakhs.