India has six major organic chemicals namely, Aniline, Alkyl Amines, Formaldehyde, Acetic Acid, and Phenol, which have contributed towards the major proportion to the Organic Chemical Industries. It is much diversified with coverage of more than 80 thousand products.

The Indian organic chemical industry has a lot of scopes to expand. The country's Organic Chemical Firms should explore the opportunities outside the country through green-field and brown-field projects.

In the Fiscal year 2020, the production volume of organic chemicals across India has been calculated to about 922 thousand metric tons. Countries like U.S.A, China, Germany, and Pakistan are the top destinations for India’s organic chemical exports and continue to show a positive trend.

How to Begin Organic Chemical Import-Export Business

The particular business idea is well accepted in the Indian business scenario for the developed industry and a bright future. So, let us discuss how to begin an Organic Chemical Import-Export business in India: 

Step 1: The first thing you need is to become a Legal Entity.

Step 2: Get GST Certification under the taxation system of the Indian Govt.

Step 3: Company Registration as per the rules of the Ministry of Corporate Affairs (MCA)

Step 4: Current Account with Bank

Step 5: Importer Exporter Code or IEC Registration- Issued by DGFT, Govt. of India

Benefits of Obtaining an IEC Code

Registering for an Import Export Code or IEC is the very first step to put a step forward in the Foreign marketplace. The benefits of an IEC Code for a business entity are likewise:

• Business expansion
• No requirement for renewal
• Simple processing
• No return filing 
• Exemption of the Customs Duty

How to be Registered to get an Import Export Code

One can go for 2 processes that are both offline and online procedure which is the old way where you need to do first online registrations and then document submission that is done in the old way staying in queues and waiting for your turn to proceed further and is quite time-consuming.

Or

Apply IEC online with us as we are the Trusted leaders in the market and have satisfied over 1,20,000 customers all over the nation. Get your work done with ease.

We provide you 360° online assistance for other legal services & help you to get your company registered under the Indian Govt. and enroll your entity in the GST Taxation system as well. 

So, how team Online Legal India™ can help you begin an Organic Chemical Import-Export business? Let us know in the comments below.