How to export Pharmaceutical as a merchant exporter

• Establish your business: Register your company as a sole proprietorship, partnership, or limited company. 
• Obtain an Importer-Exporter Code (IEC): This is mandatory for all exporters and importers. 
• Get a Registration-cum-Membership Certificate (RCMC): This is issued by the Export Promotion Council and is another essential step for export authorization. 
• Open a bank account: You’ll need a bank account to handle international transactions and payments. 
• Obtain a Permanent Account Number (PAN): This is required for tax purposes. 

• Identify target markets:

  Research potential markets for your products, considering factors like demand, regulations, and competition. 
• Conduct market research:

  Analyze the demand for your products in the target markets, including consumer preferences, import regulations, and import duties. 
• Develop an export plan:

  Outline your goals, strategies, and resources for exporting, including target markets, products, pricing, and logistics. 

• Identify products to export:

  Choose products that are in demand in your target markets and that your business can produce or source effectively. 
• Source products:

  Find reliable suppliers who can provide the necessary quality and quantity of products. 
• Ensure quality control:

  Implement quality control measures to ensure that your products meet the required standards. 

• Choose a shipping method:

  Select the appropriate mode of transportation (e.g., sea, air, road) based on the product, destination, and cost. 
• Prepare shipping documents:

  Ensure you have all the necessary documents, such as commercial invoices, packing lists, certificates of origin, and bills of lading. 
• Arrange for customs clearance:

  Understand and comply with the import and export regulations of both your country and the target market. 
• Manage payments:

  Explore different payment methods, such as letters of credit, documentary collections, and open accounts. 

• Develop a marketing strategy:

  Promote your products to potential buyers in the target markets, using online and offline channels. 
• Build relationships with buyers:

  Establish strong relationships with your customers to ensure repeat business. 
• Provide excellent customer service:

  Respond to inquiries promptly and efficiently, and address any issues that may arise. 

• Track shipments: Monitor the progress of your shipments and ensure that they arrive on time and in good condition.
• Collect payments: Ensure that you receive payment for your exports in a timely manner.
• Evaluate your export performance: Analyze your sales data and identify areas for improvement. 

Q. Opportunities in Pharma export Business ?