The Chinese market is a very competitive market that offers good quality products at a very friendly cost. That is why it cannot be denied that a lot of businesses across the globe who are seeking to earn a considerably high profit, resort to importing from China. Yes, even India, who is among the most competitive provider of not just manpower but products and goods as well takes advantage of China’s profitable market.

First of all, you have to know what product you want to import from China to India. If you have already found your niche in your target market, then it would be easier for you to follow through these steps:

1. Find a supplier from China that can provide you with the product that you need. You can easily search for them on the Internet. On the other hand, if you want things to be convenient for you, a third party importing agency can help you breeze through the entire process. However, if you want to do it yourself, you can proceed to the next step.
 
2. Contact the provider from China and ask for catalogues, samples and of course price list, especially the value of the products when ordered by volume; products will be a lot cheaper if purchased this way. You need not to travel to China in order to get in touch with them; majority of these providers can already be contacted through email or if not, by long distance call. You can also opt to travel all the way to China to meet and greet your chosen provider; this will be more beneficial to your end. However, it would require you to exert an effort to travel outside China. During the course of your communication, it may seem too good to be true, but you can still negotiate for a much cheaper price despite of the undeniable low rate that they already offer.
 
3. After the details of the products and price have been ironed, you can now ask for samples from the provider. Some companies may send them to you for free, while some might charge you on top of your actual purchase. If you have made an effort to travel all the way to China, well you can see the samples for yourself and do away with the entire sample shipment procedure.
 
4. Once you are assured about the products that you will import, it is now time for you to find a freight courier that can ship your product from China to India. Some manufacturers may not cover the expenses for shipping; which leaves you to pay for it yourself. Moreover, it is a lot better if you do the arrangement with freight companies yourself so that you are aware of the regulations and processes that your goods will have to undergo. However, if you prefer to lessen your involvement with the entire process and would rather focus on how you could boost your sales, you can always tap agents for help.
 
5. Once your ordered goods made its way out of China, it will eventually reach India in a matter of weeks. It will arrive in a designated port or airport where it can be inspected by customs officers in India.

For a business that imports products from China to India, it is important that they follow the process imposed by its government. The whole import and export procedure is governed by the Foreign Trade Act of 1992 in India.

It is a bill that governs the import and export transactions between India and other countries. The main goal of this regulation is to facilitate a smooth import or export of products to and from India. Today, this regulation was revised with accordance to the EXIM Policy of 2002-2007.

The vessel that is used to transport the goods or products by sea or air to India is only allowed to enter the country through a designated airport or port. As for the goods that are transported by land, the vessel must follow a certain route that is approved by the customs so that it can be processed by the authorities.

The person who is in charge of the transport is required to submit an import report to the customs within 24 hours from arrival at the customs location. The documents that are usually included in this report are as follows:

• Breakdown and a detailed overview of the goods that are to be delivered


• Baggage that are not included in the delivery


• Information about the transport vessel which includes the crew and the owner

The products and goods are only allowed to be unloaded once the customs approves the shipment after they have reviewed the reports that were submitted to them. In addition to that, unloading of goods is only done under the supervision of a customs officer and only on a designated location. After unloading the imported goods and products, these are left in the customs until the taxes and other related fees are settled.

During the unloading process of the products and goods, the entire package is counted accurately and is tallied one by one. This process ensures that the details indicated in the import report is true, and will warrant insurance if ever the actual quantity transported is lower than what was reported. On the other hand, if the actual quantity of the shipped or transported goods is higher than what was indicated in the report, the person who shipped the products will be penalized by paying a certain amount of tariff; for some, the payment could be doubled. That is why, it is very important to have an accurate measurement or counting of the products and goods that will be shipped to avoid penalties.

Before the shipping procedure starts, a Bill of Entry must be filed by the importer or provider of the goods to be imported. The Bill of Entry that should be filed would vary according to the purpose that the imported goods will serve. It could either be any of the three types of bill which are as follows:

Bill of Entry for Ex-bond Clearance

This is a green form that is used when imported goods or products are not immediately cleared by the customs, and is housed in the customs warehouse for safekeeping while its clearance is still on process. This BoE is does not assess the value of the products and goods, but rather keep track of the liabilities once the products are finally taken out from the warehouse. With this, its payment liabilities will be different from the original rate that was determined during the time it entered India, most especially if the products and goods were stored for a long period of time in the warehouse. This bill is also known as the Green bill, because its form is colored Green.

 

Bill of Entry for Warehousing or Bond Bill of Entry

This BoE is used for imported goods that are not immediately needed by the importer and is stocked in the warehouse for clearing and safekeeping. The products and goods are stored with no required payment. The only time the goods will be paid is when the importer already needs it; the importer is required to pay for the safekeeping duties done by the customs. This BoE is a method that can allow importers to defer duty payments. This BoE comes in a yellow form.

 

Bill of Entry for Home Consumption

This is used when the importer wants the imported products or goods to be delivered straight to their business’s location or to their home. The importer is required to pay in full to have the goods custom cleared once the package arrives in India. This BoE is in White form.

Once the documents are submitted by the importer to the customs, the agents involved in the transport process are assessed and the documents are checked all together. After the customs thoroughly checked the documents against the actual goods that were shipped, the goods will then be released and can enter the country legally.

• The BoE submitted by the importing party will be counterchecked against the actual goods in the shipment to ensure accuracy. If there are variances between what’s in the form and what’s actually there, they will require the importer to reconcile the discrepancies. The BoE can be submitted by the importing party a week before the arrival of the imported goods to the designated location where the customs can check them.


• Once the Bill of Entry is submitted to the customs, it is forwarded to the appraisal department for evaluation.


• Afterwards, the BoE is then returned back to the importer for payment. The importer is only given 7 days to settle the payment. If the fee was not settled within the given deadline, 20% interest will be charged on top of the actual amount to be paid.

Importing products from China to India is indeed a lucrative business that is why extensive research and intense involvement is recommended to ensure that you get a reputable supplier and a smooth flowing trade. Doing the process over the Internet may be risky, most especially if you have to pay up front via wire transfer or other means of transferring money offshore. However, doing your homework before hand, will surely lead to a successful importing business.

For a less risky attempt to importing just follow the process mentioned above and you are sure to get the most out of your effort and money.