Import From China Business
A practical guide for starting a small business
2010-
Import from China
Sell on eBay
Sandra Kell
Ontario, Canada
Baby Products
Profit This Year: $10,400
“I started with $1,000 and began importing baby products from China. I sell them on eBay, Facebook and in my local stores. After 8 months, I am earning $400 a week. I finally quit my day job!”
Learn How
EXIM Policy Overview
The need of an export import policy (EXIM) to grow and diversify India's trade has been recognized since the country's independence in 1947. The Foreign Trade (Development and Regulation) Act of 1992 governs India's Imports and exports. The government official responsible for the EXIM policy is the Director General of Foreign Trade. The policy's goal is to facilitate rather than hinder importing into and exporting out of India.
EXIM Policy
Photo Credits: Contract -
A developing country such as India needs to import technology and capital goods.
To offset these imports, the government of India provides export promotion schemes.
The Indian government also uses import quotas, import licensing and import duties
to help balance the import-
The EXIM Policy of India has been updated several times in recent years. The most recent version covers the period from 2009 to 2014. The short term objective for this revision to the EXIM policy is to halt and reverse the declines in India trade within a volatile world market. Tactics used to achieve this objective include: increase market access, diversify the export markets, provide fiscal incentives, reduce procedures, and change to institutions.
EXIM Policy 2009 to 2014 Highlights
Some key highlights of thie EXM policy 2009 to 2014 revision are:
- Market Access and Export Market Diversification
Incentive schemes have been expand to cover new markets and new product categories. New markets, sixteen from Latin America and ten from Asia-Oceania have been added as part of the Focus Market Scheme. The incentives available have increased from 2.5% to 3% for these new markets. - New Product Incentive Scheme
This covers a wide variety of products ranging from engineering, plastics, textiles, Green technology, Jute & Siscal, technical textiles, project goods, vegetable textiles and some electronics. The incentives increased from 1.25% to 2%. - Technology Upgrades
For companies in certain sectors such as engineering and electronic products who want to upgrade their technology, zero duty will be assessed. - Gems & Jewelry Sector
Gold Jewelry exports will be permitted to receive Duty Drawbacks. This is where the duty collected on the export will refunded. - Value added Manufacturing
To increase Value added Manufacturing exports, a 15% minimum value addition on imported inputs has now been prescribed. - Procedure Simplification
Increase from 15 to 50, the number of sample pieces allowed to be imported by exporters at duty free rates.
Given the recent downward turn in the global economy, India's exports have also been
shrinking. It is hope that some of the latest EXIM policy promotion schemes will
help to accelerated India's import-
Real Experiences!
Mahesh G., Import from China to India
“Thanks for all the great ideas on importing goods from China that are not available in India.“
