How to start the Fish Export Business in India? - Ponnusamy Karthik

How to start the Fish Export Business in India?

Fish Export Business:

  • India is one of the major exporters of fish with the fish export business conductinging in over 476 billion INR in 2020.
  • Overall the fish exports in India is the 4th biggest in the world. The government of India will promote the export of fish from India and grow India’s richest as a sea food exporter.

Is Exporting Fish a Profitable Business in India?

  • Exporting fish business is one of the best export business ideas. More than 50 million people depend on fishing for their income around the world. It is in major demand in the market. India is a major level exporter of fish in the international markets. So, opening a fish export business is reliable and profitable. If you don’t know
  • how to start a fish export-import business, continue reading the steps mentioned below.
Fish Export Business - Ponnusamy karthik

How to start a Fish Export Business?

1. Determine the products

  • The first step in continuing your exporting business is to check how your things are defined. There are two types of things, prescribed and non-prescribed things. The prescribed things contain shellfish, oysters, mussels, clams, salmon, different types of fishes, scallops.
  • Non-prescribed things are things that are not prescribed for exporting needs. These goods should require specific registration and certification to cover the things into a prescribed category. Once the things are prescribed, you will continue the exporting process.

2. Determine Your Timeline

  • You may invest for the short time or for a long time. It majorly depends on you to choose between both. You are on the track to learn how to start a stock trading business from your home, you need to make the right choice.
  • Short term investing is when a stock developer holds a security for less than two months and the risk involved is basically higher than long term Investment. And the other hand, long term investments have high yield returns because securities rebound from minimum losses with time.
How to start a Fish Export Business? -Ponnusamy karthik

3. Exporting country requirements

  • The needs of different countries are different from each other. So, you should meet the exporting requirement of the country you are exporting your products to.
  • The manual conducting of the list of food items is known as the Manual of exporting Country Requirements.  It consists of items and country requirements, such as meat, dairy, plants, fish, live animals, eggs, etc. The sea food products include finfish, crocodile meat.

4.Know Your Risk Tolerance

The trading of fish export business is subject to market risk and you will expect up and down. New investors, in most cases, have a higher tolerance power and tend to wait for risk investments to pay off. On the other hand, old investors do not own high tolerance potential and do not invest in trades that are riskier.

5. Form A Legal Corporate Body

Select among all the types of business structure sole ownership, partnership, LLC, and corporation. You may avoid being held directly exposed by forming a legal organisation.

7. Find Wholesale Buyers

  • One of the most Important steps is to find the wholesale buyers. Because no matter your planning and the documents you have prepared, if you have no wholesale customers, all your investment will be in loss.
  • The best method to find the wholesale buyers is through business to business websites. I have used these online websites to help develop my business and thus I can tell how good and profitable they are in what they do.

8. Registration

The next point is to register the fish export business. It permits you to export fish products and fish to the international market. The exporter will register through the Export Documentation System. The registration applies to manufacturers, processors, storage facilities, load forwarders, producers, warehouses where products are packed before exporting.

Profitable Business in India? - Ponnusamy Karthik

9. Declare the export goods

After getting the export permits, you should need to make a way export declaration. All the goods need to be declared to the department before exporting. An Export Declaration Number can be issued to the exporter. The goods not in the list of declaration forms will not be processed.

10. Export the goods

The final step is to export the goods. After the declaration is passed, goods should be exported from one country to another country. To export the goods, you should meet the needs of the above all steps. If you do not meet a single criterion, you will not be eligible to export the fish to other countries. 

Conclusion

  • Beginning a fish export business is a good and profitable business idea in India. It is in high demand as India is one of the high level exporters of fish products globally. So fish export is one of the most achievable export business strategies in India.
  • You can export seafood products made from fish. These products have a huge level of demand in the market. You will begin a fish exporting business by following the step-by-step guide mentioned in the article.

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