How To Start Your Furniture Export Business From India?

 India is an emerging market for furniture, and with a growing middle-class, there is a high demand for high-end furniture. Government authorities are taking steps to promote furniture export from India by providing financial assistance to exporters. To start an export business in this sector, you need to know the furniture market in that country and its demand. It would help if you were also updated with the norms of importing furniture to that country or country. You can also partner with an established company and export furniture from that country to other countries. 

Step by step process of starting a Furniture export business in India? 

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1. What kind of furniture you want to export is the first priority to check. Different types of furniture are available in the market, such as wooden furniture, iron furniture, upholstered furniture, contemporary furniture, modular furniture, etc.  

2. Once you have decided the type of furniture you want to export, you have to decide on the country where you want to export that furniture. You can export furniture from India to any other country in the world.  

3. Next, you have to decide on the structures of the business. There are multiple options available such as sole proprietorship, partnership, etc. 

4. You have to decide where you want to store the furniture you are exporting. 

5. Finally, you have to obtain an export license from the government’s regulatory body. 

What Special incentives can exporters get for furniture export from india from the government? 

6. Import replenishment license (REP) is granted to an exporter for a particular consignment of export goods and can be issued for a single shipment or a pre-specified period. Once the license is issued, they can import goods and materials at a concessional duty rate or without paying duty. 

7. If you want to export furniture from India, you can apply for the Impex passbook from the Indian government. It is a government scheme for those exporters engaged in manufacturing and exporting furniture from India. It is a form of financial assistance provided by the government in the form of a discount on the product’s actual value. 

How to plan your furniture export business? 

8. A PAN card is necessary for all exporters, dealers, and importers to comply with the Indian Government laws. PAN card requirement is mandatory for every business, be it furniture export, to comply with the Income Tax Act. 

9. Opening a current account in the company’s name is mandatory for all the furniture exporters. Once you have received the license for your business, you need a current account opening in your company’s name is must. The current account will be linked to your business account, which you need to open in your company’s name. 

10. When it comes to furniture, the designs and features of furnitures to be exported is of utmost important. And the same applies to the furniture export from india plan as well. Therefore, to choose the right furniture product, it is very important to understand the needs of your market and the features of the product and then match them accordingly. 

11. The registration cum membership certificate is mandatory for Indian exporters to export furniture to any of the partner countries. It provides information about the exporter, the exporter’s contact details, terms and conditions of the contract, a detailed description of the product to be exported, packaging details, and other important information required by the importer country. It is mandatory for exporters of Indian furniture to apply for an RC cum membership certificate from the concerned Inspection Authorities when shipping the consignment. This certificate is issued after inspection of the consignment and is required at the importing country’s customs for clearance. 

12. The financial projections of your company are one of the most important aspects that you need to keep in mind while setting up your company’s financial plan. Without keeping the direction right, you can’t reach your destination. The same goes for financial projections. Keeping the right direction is essential for the success of your business. 

13. There are several reasons to choose the right market, the main one being the competitiveness of the selected market. If you select a market which is not favorable, then it will be difficult for you to succeed. Also, the market in which you are doing business should be profitable. A profitable market has demand for the product, and the offered price is good enough to fetch you a decent profit margin. 

How to register with e-commerce exports program like Amazon Global Selling for your furniture business? 

14. Amazon Global Selling allows you to sell your products internationally through its international marketplaces in 200+ countries and territories. To set up your business with Amazon Global Selling, you must first create an account . You must choose the marketplace in which you want to sell your products. 

15. If you are new to Amazon, you will need to provide your business information, including your company name, address, contact person, etc.. 

16. Once your account is approved, you can choose the marketplaces you want to export to.  

Documents to be submitted? 

17. IEC number is mandatory for all export/import businesses to operate in India. To obtain an IEC Code, you must be registered with DGFT. 

18. Identity proof like passport, driving license, or Aadhar card are necessary. 

19. You need to have a bank account in your company’s name to receive payment for your exported furniture.  

20. Be sure that the card you are using is international transactions enabled. Check with the card issuer before you start using it. 

Summary – Amazon Global Selling is an e-commerce exports program that allows you to export and sell your products to other countries. In this way, you can expand your business of furniture export from india and reach customers around the globe. Amazon’s Global Selling program allows sellers to list their products on Amazon’s marketplace and ship them to Amazon fulfillment centers. Amazon takes care of the inventory, shipping, and order fulfillment, and you get similar exposure as Amazon.com 

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