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How to Start a Profitable Rice Export Business from India

Online Legal India LogoBy Online Legal India Published On 22 Dec 2020 Updated On 08 Jan 2022 Category IEC

Rice is the country's main Kharif crop and as per the current data, India is the world's largest producer of Rice. At the end of the fiscal year 2019, India had approximately estimated at a record of 99.24 million tonnes of production. The Indian rice industry generates enormous profit for the government.

The Directorate of Rice Development is the government body working in all areas of the value chain, right from cultivation to end-user consumption of Rice in India.

Based on the recent government initiatives and market scenario, exporting Rice is one of the essential businesses for Indian rice suppliers.

Before starting any Export or import business for any product, suppose here, as we are discussing Rice, it is mandatory to have an Import Export Code or IEC. It is a ten-digit code with lifetime validity and is issued by DGFT (Director General of Foreign Trade)

How to begin Rice Export Business from India

 

To incorporate a rice export business, an Indian citizen is mandated to follow the legal procedure as stated in the Companies Act, 2013. Following the provisions, the business personnel is required to obtain these licenses:

  1. Import Export Code
  2. APEDA Registration
  3. GST Registration certificate
  4. Company Registration certificate
  5. Company PAN Card 
  6. Current account with Bank 
  7. Certificate of Origin (For Exporting to the USA)

Benefits of IEC Registration for Rice Export Business

 

  1. Gateway to the Foreign Business
  2. Expansion of Business
  3. Availing Several Benefits from the Indian Govt.
  4. Tax Exemption
  5. Easy Processing
  6. Lifetime validity
  7. Exemption from Customs Duty

How to get an IEC License Hassle-Free

 

If you are a Rice Exporter, it is mandatory to own an Import Export Code. Trust the market leaders regarding the Import Export Code and register your business online with our team of qualified legal experts and more than 1,20,000 satisfied consumers from every corner of India.

Apart from earning your unique Import Export Code, India's own trusted business platform Online Legal India™ will provide assistance to obtain an APEDA license, or get your company registered under the Indian Govt. and enrolling your entity in the GST Taxation system.

So, how team Online Legal India™ can help you in the Rice Exporting Business? Let us know in the comment section below.

 

                                                                     

 


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