What is Import Export Business ?.| Why we should do it?| Learn Import Export Business. Part -1

Summary

This video introduces a series about learning the import-export business in a simple and easy-to-understand way. The speaker explains the basic concepts of import and export, emphasizing the legal process and the advantages of international trade. Viewers are encouraged to follow the series to understand how to profit from global trade while also benefiting their country. The video highlights the importance of international trade for meeting resource needs, fostering global relations, and earning profits with government incentives. The speaker invites viewers to ask questions and continue learning through future episodes.

Takeaways

• 😀 The video series aims to teach Import-Export Business in simple language, step by step.
• 📦 Importing means legally bringing products or services from another country to your own.
• 🚢 Exporting refers to legally sending products or services from your country to another.
• 📝 Import-Export is a legal process requiring proper documentation. Illegal activities like smuggling are prohibited.
• 🌍 International trade is necessary because not all countries have the same natural resources, leading to import-export to fulfill needs.
• 💼 Import-Export businesses can be highly profitable due to global demand, especially when products are cheaper in other countries.
• 🌱 Competition in exporting is relatively low, and the global market provides vast opportunities for growth and profit.
• 🏆 Governments often provide incentives for exports, as they bring foreign exchange into the country, strengthening the economy.
• 🤝 Import-Export also helps improve diplomatic relationships between countries through mutual trade benefits.
• 🔔 Viewers are encouraged to subscribe and follow the series to fully understand the process of Import-Export.

Q & A

What is the primary focus of the video series mentioned in the script?

The primary focus of the video series is to teach the basics of import and export business in a simple and understandable manner.

What is the definition of 'import' according to the video?

'Import' is defined as legally bringing a product or service from another country into one's own country after completing all necessary documentation.

What is the definition of 'export' as described in the video?

'Export' refers to legally sending a product from one's own country to another country after completing the required documentation.

Why is it important to learn and understand the import-export business?

It is important to learn and understand the import-export business to avoid illegal activities, such as smuggling, and to conduct business legally, ensuring compliance with all necessary procedures.

What are the key benefits of engaging in international trade, according to the video?

The key benefits of international trade include fulfilling a country's resource needs, improving relations between countries, and generating profits by leveraging price differences in global markets.

How does international trade help countries with different natural resources?

International trade allows countries with a scarcity of certain natural resources, such as oil or uranium, to import these resources from countries where they are abundant, ensuring their domestic needs are met.

What is one of the major advantages of the export business mentioned in the script?

One of the major advantages of the export business is the opportunity to access a large global market of over 200 countries, allowing businesses to scale up and maximize profits.

What is the role of competition in the export business as described in the video?

The video states that competition in the export business is relatively low, with only 2-4% of Indian businesses engaging in exports, providing a great opportunity for new businesses to succeed.

How does the government incentivize the export business?

The government provides incentives to exporters because exports bring in foreign exchange, which benefits the country's economy.

How does import-export contribute to a country's foreign exchange reserves?

Exporting products brings foreign exchange into the country, while importing products requires spending foreign exchange. Balancing these activities helps maintain and increase a country's foreign exchange reserves.