With the onset of the Green Revolution in India, the agricultural sector has seen a huge growth in terms of production and export in the foreign market. As far as wheat cultivation is concerned, India is the second-largest producer of wheat in the world.
World trade in wheat is the largest of all other crops combined. Therefore, the export of wheat is always a profitable sector in the Indian export industry. For an export apprentice, venturing into India’s wheat export business is the safest of all trades. The Agricultural and Processed Food Products Export Development Authority, known as APEDA, is revolutionizing Indian wheat export companies by rebuilding and developing agricultural infrastructure.
Why is Wheat Export Business Profitable for us?
- The decline in wheat production in the US has considerable scope for export of wheat from India.
- Rice is the primary food staple of India. Therefore, domestic wheat consumption is lower than production compared to other major exporting countries. It acts as an impetus in the export of wheat from India.
- APEDA is developing agricultural infrastructure to promote wheat exports to India.
- Government prepares an updated export policy on wheat.
- Due to an increase in bread consumption as a staple food, wheat remains on demand throughout the year.
Read our article:How to apply for online APEDA Registration
What are the Functions of Import Export Division?
- Import and export of food grains (mostly wheat and rice) and stocks under various World Food Program / Government assistance schemes based on donations to other countries
- To assist the CAF and PD Ministry in the formulation of policies related to import and export wheat & rice. To follow the following guidelines/procedures in import/export of food grains as per the policy decision of the Government of India and forward it to all the concerned field offices for necessary compliance.
- During the operation of import and export, before liaising with the concerned agencies like STC, MMTC, PEC, Railways, Shipping and Port Trust etc.
- Preparation of schedule/information/data for day to day high-level committee meeting held to monitor and resolve operational issues during import/export of wheat.
- Preparation of daily bulletin/statement depicting port-wise vessel arrival, movement of imported stock during dispatch and import and grain taken and shipped during export of wheat in Port / CPSU / Country wise quantity.
- Import and export division keeps an eye on international demand and supply situation and price concerning wheat and rice.
How can we Export Wheat from India?
Due to the different agro-climatic regions of our country, wheat cultivation and trade prove to be equally profitable for both farmers and exporters. As per the criteria set by government, some licenses are mandatory to start exporting wheat.
The exporter is required to obtain an APEDA license. It is like a seal of approval from the government, related to the standard of your product.
Import Export Code
Your registered import-export code is required when filing for a registration cum membership certificate, known as RCMC, and viewed as a gateway certificate for any foreign trade.
To start a profitable wheat export business in India, you have to register a company. There are five main class of companies in which the entrepreneur can incorporate in India
- Sole proprietorship
- One-person company
- Partnership company
- Limited liability company
- Private limited company
To Open Bank Account
Once you register a company, you need to open a current bank account in the name of your company. Presently, you can open a bank account in the SPICE+ forms itself while applying for the private company registration in India.
After the company incorporation, you have to apply for GST registration and get a GST number to further perform business activities.
Employee State Insurance is an insurance scheme for workers working under your producing unit. Obtaining ESI registration is mandatory if you are producing wheat.
Employee’s Provident Fund Registration
EPF is compulsory for business where more than 20 employees are working.
Register your brand name with a trademark which will protect your brand internationally.
Today in the civilized world, the international market blooms with various goods and services in import and export by the participation of multiple nations. The blowing wind of the green revolution has changed the market’s idealogy as the goods from the different market are fully accepted and cordially welcomed.
Indian producers marked their presence mostly in the sector of wheat exporting globally. And it is safer and secure than other exports of goods in the global market. To get a renowned producer of wheat export, one must possess the certificates of registration from the concerned authority and proceed in the business of wheat export. Kindly connect with the Corpbiz expert to know more about the how to start profitable wheat export business with APEDA + IEC
Read our article:Step by Step Process of APEDA Registration in India