How to start a jewellery export business?

Gold is a significant asset for Indians. People will love to decorate themselves with gold jewellery and invest in this valuable component for financial help. Also, gold is treated with high respect by Indians and is a part of your rich cultural heritage. Beginning a jewellery export business will be a beneficial one. Then first you have to think about how to export jewellery from India because the demand for this valuable metal is happening for the long term. Here are the procedures to follow when starting a jewellery export business.

Prepare a business strategy.

A business strategy is the first step towards establishing a major brand in India and around the globe. It assists you with examining what should be done and how to export jewelry from India will be executed. Your business strategy should contain financial preparation, management, transportation cost, and many things.

Choose your area

A suitable area is that, which is accessible through various methods for transport. It should have safe, secure and protective facilities since you will manage with expensive goods. Apart from good access, it should also have reliable transport facilities. It is suggested that you start the jewellery export business in the area where middle class and rich individuals reside.

Open an account

Since you will manage many amounts, you want to have an approved bank account for foreign trade. The account should be in your organisation’s name and should be enrolled with customs. Here are the lists of records expected to open your bank account for starting a jewellery export business

• Pan Card
• Ration card
• Passport

License and documentation

When you are planning to begin a jewellery export business, you want to get all the licenses and allow beforehand to keep away from any difficulties in the future. You particularly need to have an importer exporter code (IEC) to begin your business.

You also need to have a Business Identification Number (IBN) for the jewellery export business. Apart from BIN, you want to have a GSTIN, business enrolment, insurance policy, and other significant licenses.

Find your providers and purchasers.

If you don’t manage a business in jewellery, you first want to find providers who will supply you with the best quality jewellery. Your providers should be dependable. Whenever your items are prepared, search for potential purchasers. Invest in advertising and social media promotions to make your items noticeable.

Dispatch and shipment

Read the rules and follow the custom clearance process before dispatching your items to the ports when you are prepared to deliver your items. When you get the clearance, your items are prepared to export. When your item gets shipped effectively, you will get a payment.

Bottom line

Finally, these are the main factors to consider while starting a jewellery export business. Also, you have to investigate more about how to export jewellery from India for your business and learn the important strategies in maintaining your business effectively.

Also Read: What is RoDTEP Scheme? Its important 4 advantages for exporters