Are you interested in starting a trading business in India? Are you interested to know more about the import of products from China? If Yes, read this post to learn which products to buy and how to import products from China.
Probably the most talked-about term in trading in India is “Made in India”. However, you will find Chinese products everywhere in the market. The product range involves our daily requirement for highly engineered goods. One of the main reasons for such high import is low cost compare to manufacturing products in India. According to the latest statistics, we list down the list of top product import categories from China.
List of Top Products to Import from China
1. Electronic equipment
2. Machines, engines, pumps
3. Organic chemicals
5. Iron and steel
7. Iron or steel products
8. Gems, precious metals, coins
9. Ships, boats
10. Medical, technical equipment
Steps in Starting Import Products from China to India
If you want to import products from China and start an export/import business in India
you should obtain the following documents:
1) Company / Firm Registered
2) Active Bank Account (current account)
3) Tax Identification No (TIN)
4) IE code (Importer Exporter Code)
In addition to this, additional certificates are required if you want to import a certain category of items. For example, BIS (Bureau of Indian Standard) Product Certificate is mandatory for product categories like automobile tires, cement, dry cell batteries, electrical household appliances, food products, LED lights & fixtures, medical equipment, steel tubes, wire & cables, few electronic products, etc.
Another important step in importing products fro China is the Bill of Entry. An importer has to file a Bill of Entry. This is declaring all possible details of the trade, i.e. nature of the product, exact quantity and value of goods.
Documents Required for Import from China to India
You will need to prepare a lot of documents for importing products from China. Apart from the Bill of Entry, you will need to submit papers to the port customs office. Here we put a list of some essential custom documents for import.
- Bill of Lading (Sea Freight) or Air Waybill (Air Freight)
- Commercial Invoice
- Packing List
- Proforma Invoice
- Purchase Order or Letter of Credit
- Industrial license (if required)
- Import license (if required)
- Product test reports (if regulated by any Indian Standard)
- Insurance Policy / Note
- Product Description / Catalog
- GATT & DGFT Declarations
- Health / Food Safety Certificate (only for food products)
- Certificate of Origin (if applying for reduced duty rate)
Where to Find Products to Import from China
After you have completed this procedure, identify a reliable supplier from China. The next step is appointing a professional Customs Clearing agent who will help you to clear the consignment at your port. They will also help you to calculate various expenses in port such as customs duty, handling charge, and transportation cost.
There are many ways to import from China. The two most popular options are mentioned below:
1. Every year, many excellent Chinese suppliers attend exhibitions organized in India and exhibit their products. You can attend those exhibitions and discuss your requirements there.
2. You can register yourself with Alibaba. You can chat and contact the supplier on business chat on Alibaba and tell him/her in detail about your requirements.
However, you need to be careful while buying products. Beware of fake suppliers. The best option is to visit the supplier in person in China itself. But the fact is that not everyone can afford to visit China for discussions. Many companies in India provide this service in India. You can contact them for verifying the suppliers with a nominal fee.
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Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.