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KATARIA INTERNATIONAL

Mission Statement

  • To fully utilize our knowledge, creativity and collaboration to build relationships that create sustainable growth and profit for our company, and our partners, in the ever changing global marketplace.
  • Our Core Values, Entrepreneurial and growth oriented, Continuously learning and leveraging knowledge, Creative, Effective risk managers, Collaborators within and beyond the company, Relationship builders, Creating a stimulating and rewarding place to work.
  • We are providing import export of all things Imports' means, bringing into India, of goods from a place outside India. In other words, it refers to the goods which are produced abroad by foreign producers and are used in the domestic economy in order to cater to the needs of the domestic consumers. India includes the territorial waters of India which extend up to 12 nautical miles into the sea to the coast of India. Similarly, 'exports' of goods means, taking goods out of India to a place outside India. It refers to the goods which are produced domestically and are used to cater to the needs of the consumers in other countries. The country which is purchasing the goods is known as the importing country and the country which is selling the goods is known as the exporting country.
  • The traders involved in such transactions are importers and exporters respectively. In India, exports and imports are regulated by the Foreign Trade (Development and Regulation) Act, 1992, which replaced the Imports and Exports (Control) Act, 1947, and gave the Government of India enormous

Introduction

  • Starting an import business is a goal of more than thousands of merchants and businessman. Like an export business, import business is also very profitable business, if an importer proceeds with the right strategies. However, the long term success and profitability of an import business greatly depends on the importer's knowledge and understanding about the international market and foreign market analysis.
  • Today, importing goods from abroad has becomes a big business. Everything from beverages to cars--and a staggering list of other products that one might have never imagined has now become the part of the global import.
  • Millions of products are bought, sold, represented and distributed somewhere in the world on a daily basis.

Reasons for Import

  • There are number of supporting reasons why import business and services is growing at such a fast rate:-

Availability:

  • An individual or business man or an importer needs to import because there are certain things that he can't grow or manufacture in his home country. For example Bananas in Alaska, Mahogany Lumber in Maine and Ball Park franks in France.

Cachet:

  • A lot of things, like caviar and champagne, pack more cachet, more of an "image," if they're imported rather than home-grown. Think Scandinavian furniture, German beer, French perfume, Egyptian cotton. It all seems classier when it comes from distant place.

Price:

  • Price factor is also an important reason for import of products. Some products are cheaper when imported from foreign country. For example Korean toys, Taiwanese electronics and Mexican clothing, to rattle off a few, can often be manufactured or assembled in foreign factories for far less money than if they were made on the domestic country.

Import in India

  • The rising middle income groups of consumers in India and their increasing levels on expenditure on various products has resulted a faster rising demand of the Indian import business. Major imports of India include cereals, edible oils, machineries, fertilizers and petroleum products. Total import from India estimated to be around US$187.9 billion. India is also a bulk importer of edible oil, sugar, pulp and paper, newsprint, crude rubber and Iron and steel.

Import Regulatory Body

  • In India, all the activities related to import are handled by the Directorate General of Foreign Trade (DGFT), a government organization that also controls the export business in India. DGFT and all its regional offices work under the Ministry Commerce and Industries, Department of Commerce, Government of India. All the procedure and policies in matter related to the import is announced by the DGFT through its notification, appendices and forms.