Introduction
Sounds exciting, obtaining an import export license, huh? It is the initial formal preparatory step towards the beginning of your international business journey. However, the fact is that there are a lot of students and beginners who find it hard to obtain one. Others are confused with paper work, other ones do not know the proper procedure and some even abandon half the way through.
Have you ever wondered, why is it such a pain to get an import export license? — well you are not alone. Here in this blog we will deconstruct the actual causes of these struggles as well as how you can overcome these hurdles step after step.
What is an Import Export License?
An import export license refers to a document issued by the government which legally permits individuals or businesses to import or export goods across international boundaries. In India, it is officially referred to as the Importer Exporter Code (IEC) which is granted by the Directorate General of Foreign Trade (DGFT).
In the absence of this license, you are not legally able to send or receive goods across the international borders. Concisely, it is your ticket to international trade.
Why Students Struggle to Get an Import Export License
1. Lack of Proper Knowledge
Some students are not even aware of the steps to follow when applying to obtain an import export license. They use the internet search, haphazard YouTube tutorials or half-baked guidance, and their applications are not complete.
2. Fear of Paperwork
Government paperwork is usually complex. Students can get lost and annoyed with PAN cards, bank details, and with the uploading of the correct format as well as the use of digital signatures.
3. Poor Interpretation of the Requirements
Others hold that you require a big office or a large capital to make an application in an import export license. This myth kills most students even before they make an attempt. As a matter of fact, any student with a mere business idea can apply.
4. Technical Problems with Web Portal
DGFT portal online application may be complicated. The process is overwhelming because of slow websites, delays related to OTP, or file-upload errors.
5. Absence of Leadership and Mentorship
However, the most significant part is that students lack a mentor to help them through the process. Even such a small error can hold up approval, without a person who goes through it.
Common Myths About Import Export License
When You Have to Invest Hugely
Wrong! The IEC application is not costly and does not need a huge capital investment.
Can Only Established Businesses Apply
Not true. An import export license can be issued even to students or startups and one can start trading on a legal basis.
The Process Takes Months
Most of the time, with proper work you are able to receive your IEC in a few days.
How Students Can Solve These Challenges
1. Get Proper Training
Invest in import export training instead of depending on the random sources. One of these professional courses will teach you all about the IEC, including requirements of eligibility and the steps to be taken in real applications.
2. Get to know the Documentation Process
Before application, please prepare all the following documents:
- PAN Card
- Aadhaar Card
- Bank Account details
- Evidence of business (when it exists)
- It is better to have them prepared to prevent delays.
3. Use Step-by-Step Guidance
Take a systematic course of action. In the Yuva Training Institute, we are offering practical classes in which students will literally fill the IEC form and upload documents on the Internet. In this manner, they are able to get confidence.
4. Seek Expert Mentorship
Studying under professionals such as Dharmesh Soni (International Marketing), Haresh Thule (Documentation and Customs clearance) and the likes will make sure that you do not repeat the mistake committed by many.
5. Stay Updated
Rules and government portals keep on changing. Opponents or institutes would keep you in touch with the latest requirements.
The Import Export License Advantages
- Legal Authorization
You are now free to commence trading around the world. - Schemes Access Governmental
They can take such schemes as RoDTEP, MEIS, and Export Promotion Capital Goods (EPCG). - Develop International Clients
International buyers can be approached with an IEC. - No Restrictions on Goods
All products are freely traded (with some exceptions of restricted classes).
Live Case Study: Student to Exporter
Consider the situation of one of our students who used to have difficulties applying to the import export license. He flew through his IEC with us in less than a week and was able to ship his first consignment to foreign countries. This goes to show that any student can be successful with the proper guidance.
Final Thoughts
It is not uncommon to have a problem in getting an import export license, but that is not a reason to stagnate. The majority of issues are caused by the ignorance, instructions, or the fear of records. Through proper training and mentorship, it becomes easy and possible.
We are Yuva Training Institute of Export Import, which focuses on helping students like you to acquire their license without the need to stress. Practical lessons, mentoring under experts and step by step instructions ensure that you do not have all these hardships by yourself.
Call to Action
Are you ready to apply to get your import export license and begin your international business adventure?
Enroll at Yuva Training Institute of Export Import today and know how to apply, succeed and expand in international trade without fear.
See us at: Yuva Training Institute of Export import.
