Export means taking goods out of India to a place outside India.” Export trade in India is regulated by the Directorate General of Foreign Trade (DGFT) and its regional offices, functioning under the Ministry of Commerce and Industry, Department of Commerce. Policies and procedures required to be followed for exports from India are announced by the DGFT, from time to time.
Export is one of the lucrative business activities in India. The government also provides various promotional schemes to the exporters for earning valuable foreign exchange for the country and for meeting their requirements for importing modern technology and essential inputs. Besides, the income from export business is also exempted to the specified extent under the Income Tax Act, 1961, Refund of Central Excise and Custom Duty on export is also made under the Duty Drawback Scheme of the Government. There is no Sales Tax on products meant for exports.
Exports can be of goods which can be moved physically from one country to another or can be of service rendered. Detailed list of services are given in the Foreign Trade Policy covering more than 160 items e.g. Insurance, Hospital, Postal and Telecommunication etc.
Some of the advantages of export house are they enhance the domestic competitiveness, Increase sales and profits, Gain global market share, Reduce dependence on existing markets, Exploit international trade technology, Reduce dependence on existing markets, Extend sales potential of existing products, Stabilize seasonal market fluctuations, Enhance potential for expansion of your business, Sell excess production capacity, Maintain cost competitiveness in the domestic market.