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The EU is India?s largest business partner, which [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] means that [url=http://www.mquin.com/giuseppezanotti.php]giuseppe zanotti sneakers[/url] exporting your products to India may be a lucrative [url=http://www.ilyav.com/isabelmarant.php]isabel marant pas cher[/url] business. While the majority [url=http://www.1855sacramento.com/moncler.php]moncler outlet[/url] of the United Kingdom's rules for India export are just like those for export to other non EU countries, there are a few notable differences too.
Pending Free Trade Agreement
The first key India export rules is one which should go into effect soon. This is a free trade agreement (FTA) between the European union and India. While the discussions have been ongoing since 2007, they have picked up speed from the May 2009 elections in India. The FTA is expected to encompass technical barriers to trade, rules on investment, customs, and services, government purchase, intellectual property rights, and sanitary rules. When completed, it'll eliminate tariffs and lead to much better conditions for India export.
Export of Nuclear Components
Latest changes [url=http://www.1855sacramento.com/woolrich.php]woolrich outlet[/url] to India export regulations regarding nuclear components have made it possible to export these kinds of components to India. In 2008 the united kingdom and India agreed upon a statement on nuclear cooperation. This statement offers an exception from the nuclear suppliers group (NSG) guidelines for India exports to civil nuclear facilities which are safeguarded by the India Atomic Energy Agency (IAEA). Applications for the necessary licenses for exports on the NSG trigger-list and dual [url=http://www.ilyav.com/isabelmarant.php]isabel marant sneakers[/url] use lists are now considered on a case-by-case basis rather than being refused outright.
Declaring India Exports
As with any goods going to a non EU country (also known as a third country), all exports going to India must be declared before they're sent using the National Export System available on the HM Revenue & Customs website. This system needs an Economic Operator Registration Identification [url=http://www.ilyav.com/uggpascher.php]ugg pas cher[/url] (EORI) number, destination of the products, shipping information, the correct Customs Procedure Code (CPC), an outline of the items, and the correct price of the products.
Tax and Duties on India Exports
When exporting items to India, it is important [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] to note that the Indian govt requires payment [url=http://www.rtnagel.com/louboutin.php]louboutin[/url] of a duty or tax when the India export arrives in the country. This duty may be paid by the sender or receiver of the goods, based [url=http://www.1855sacramento.com/peuterey.php]peuterey[/url] on the agreement between the parties. Businesses exporting products from the United kingdom to India don't have to pay VAT on the goods, provided they leave the EU within a fixed time frame,keep the complete records of sale & transport, and obtain official evidence that the products left the EU.
Top Items for India Export
The UK is one of India's major business partners, with a total bilateral trade of 13.8 billion in 2010. The UK's leading goods for India export include minerals, uncut diamonds, gold, power generating equipment, telecommunications equipment, transport equipment, and manufacturing machinery. The top Indian exports to the UK included clothes, footwear, jewellery, organic chemicals, vegetables, and fruit. Furthermore, the UK and India have a solid tradition of joint ventures in trade & industries.
If you're thinking about adding India export to your company's portfolio, it's crucial that you know what types of goods are most likely to be successful, and also knowing the different UK and India rules which govern such trade. India export could be highly lucrative if you do it right.
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Submitted : 2011-06-06 00:00:00Word Count : 531Popularity: Not RatedTags: Import Export Business, Import Business, Export Business, International Trade, Make Money From Home, Home Business, Business
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India Export Rules Might Change Your Ideas About This Market
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