Exporting to India: What You Need to Know

Описание: If you’re looking to break into one of the world’s fastest-growing economies, look toward India. As the country with the largest population, India is expected to become the second-largest economy by 2075. What does this mean for exporters looking to export to India? This video explains.

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The Challenges

U.S. exporters must be aware of certain barriers when exporting to India.

High Tariffs and Protectionist Policies

U.S. exporters and investors often encounter non-transparent or unpredictable regulatory and tariff policies, and U.S. goods and services in some sectors have limited access to the market. India has the highest average applied tariff of any G20 country, and some of the highest bound tariff rates among WTO members.

Price Sensitivity

Indian companies and consumers are extremely price-sensitive. U.S. companies must evaluate whether they can sell at prices that Indians are willing to pay and may need to adjust their sales models accordingly. Some companies might sell products in smaller sizes or with fewer features to reflect these price sensitivities.

Infrastructure

India has significant infrastructure development needs, and improvements in this sector are vital to the country’s economic growth. Infrastructure projects in India often suffer from delays. India has devoted significant portions of its recent annual budgets to ambitious infrastructure development plans. But timely execution remains a challenge, even when funding is available.

Power of States

As a federal system, power and decision-making are decentralized in India, with differences at the state level in political leadership, quality of governance, regulations, taxation and labor relations. Indian states generally hold greater power than their U.S. counterparts. U.S. companies face varying conditions across India’s 28 states and eight union territories and should factor these variations into their strategies. States are encouraged to compete against each other to attract investment.

The Opportunities

In many situations, the potential rewards of exporting to India outweigh those challenges.

With the population boom comes the need for new industries, infrastructure and more. These sectors provide growth opportunities for U.S. companies in the Indian market:
—Civil aviation
—Defense
—Education
—Energy
—Environmental technologies
—Food and agriculture value chain
—Healthcare
—Information and communication technology
—Travel and tourism
—Safety and security

Export Assistance

These are some of the places where you can get in-country, trusted assistance if you encounter difficulties exporting to India:

—The U.S. Commercial Service
—District Export Councils
—Trade Missions sponsored by state and local trade offices
—The International Trade Administration
—The U.S.-Canada Chambers of Commerce

Export Document Requirements for India

—A bill of lading
—Commercial invoice
—Packing List
—Sales contract
—Proforma invoice
—Customs declaration
—An insurance policy

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00:00 Introduction
00:52 The Challenges of Exporting to India
02:36 The Opportunities of Exporting to India
03:09 Export Assistance for Exporting to India
03:36 Export Document Requirements for India
04:00 Export Compliance Issues with Exporting to India
04:05 Product Classification
04:44 Export License Determination
05:14 Restricted Party Screening
05:53 Export Documentation and Compliance Software

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