{"id":32929,"date":"2021-07-15T11:33:52","date_gmt":"2021-07-15T06:03:52","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=32929"},"modified":"2021-07-15T11:33:54","modified_gmt":"2021-07-15T06:03:54","slug":"granite-export-from-india-know-the-legalities","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/","title":{"rendered":"Granite Export from India: Know the legalities"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Granite is a primary component for construction and its global demand is escalating every passing day. The granite export from India has witnessed huge growth in the past few years owing to its unparallelly quality. The data of Indian grant export manifest that more than 140 nations frequently import Indian granite. Therefore, setting up a granite export business in India is a lucrative and viable business option. But, there are some legal implications linked with this business model that needs to be taken into account. Let us now take a close look at how new businesses can export granite from India in a legitimate way. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#An_Overview_on_Granite_Export_from_India\" >An Overview on Granite Export from India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#How_Profitable_is_Granite_Export_Business_in_India\" >How\nProfitable is Granite Export Business in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#Legalize_way_to_export_Granite_from_India\" >Legalize way\nto export Granite from India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#Common_Documentation_for_Granite_Export_from_India\" >Common\nDocumentation for Granite Export from India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#How_to_Avail_Import_Export_Code_from_DGFT\" >How to Avail Import Export Code*\nfrom DGFT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/granite-export-from-india-know-the-legalities\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"An_Overview_on_Granite_Export_from_India\"><\/span>An Overview on Granite Export from India <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The data of Indian granite export reflects that there is a huge demand for Indian granite all over the world. Over 140 nations import granite from India that worth around $498 million every year.<\/p>\n\n\n\n<p><strong><em>The granite export business predominately depends on the following five nations: <\/em><\/strong><\/p>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  1\n  <\/td><td>\n  China\n  <\/td><td>\n  $296 million\n  <\/td><\/tr><tr><td>\n  2\n  <\/td><td>\n  USA\n  <\/td><td>\n  $40 million\n  <\/td><\/tr><tr><td>\n  3\n  <\/td><td>\n  Vietnam\n  <\/td><td>\n  $32 million\n  <\/td><\/tr><tr><td>\n  4\n  <\/td><td>\n  Saudi Arabia\n  <\/td><td>\n  $13 million\n  <\/td><\/tr><tr><td>\n  5\n  <\/td><td>\n  Algeria\n  <\/td><td>\n  $11 million\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Profitable_is_Granite_Export_Business_in_India\"><\/span>How\nProfitable is Granite Export Business in India? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India is one of the leading producers &amp; exporters of granite\nin the world, with the industry being worth more than Rs 250000 crores. <strong><em>At\npresent, India holds more than 4 trillion m\u00b3 of granite. <\/em><\/strong><\/p>\n\n\n\n<p>Moreover, the data also shows that around 97% of the total reserve is yet to be explored, which negates the possibility of a supply crunch. India&#8217;s contribution towards total granite production has been estimated at around 15%. Furthermore, India holds more than 100 varieties of granite, out of which 60 are commercially viable. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-iec-registration-india\/\">A Complete Guide on Documents Required For IEC Registration <\/a><\/mark><\/p>\n\n\n\n<p><strong><em>Following are the states that possess the largest granite reserves\nin India <\/em><\/strong><\/p>\n\n\n\n<ul><li>Tamil Nadu<\/li><li>Karnataka<\/li><li>Andhra Pradesh<\/li><li>Odisha<\/li><li>Rajasthan\u00a0<\/li><\/ul>\n\n\n\n<p>Strong supply and a wide array of varieties make the granite export business a promising business option for start-ups. Note that almost 85% of the Indian granite makes its way to importing nations. <\/p>\n\n\n\n<p><strong><em>The table below manifests the Harmonized System Code* for granite export. Please remember that the Directorate General of Foreign Trade (DGFT) formulates these codes. \u00a0<\/em><\/strong><\/p>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  1\n  <\/td><td>\n  Crude or raw blocks\n  <\/td><td>\n  HS* Code: 25161100\n  <\/td><\/tr><tr><td>\n  2\n  <\/td><td>\n  Building stone\n  <\/td><td>\n  HS Code: 68022390\n  <\/td><\/tr><tr><td>\n  3\n  <\/td><td>\n  Blocks or slabs\n  <\/td><td>\n  HS Code: 25161200\n  <\/td><\/tr><tr><td>\n  4\n  <\/td><td>\n  Carved or processed granite\n  <\/td><td>\n  HS Code: 68029300\n  <\/td><\/tr><tr><td>\n  5\n  <\/td><td>\n  Polished blocks and tiles\n  <\/td><td>\n  HS Code: 68022310\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong><em>HS*: The&nbsp;Harmonized System&nbsp;refers to a global\nnomenclature for the products\u2019 classification. It enables participating nations\nto classify tradable commodities on a common basis for customs purposes.&nbsp; At the global level, Harmonized\nSystem&nbsp;(HS) is a six-digit code system. <\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Legalize_way_to_export_Granite_from_India\"><\/span>Legalize way\nto export Granite from India <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The company incorporation is the first step toward setting up a granite export business in India. Please note that legal status is pertinent for carrying exporting activities in India. Make sure to choose a business structure that gives the best fit for your scope of operation.\u00a0 <\/li><li>Once you incorporate your establishment with the Ministry of Corporate Affairs, apply for Permanent Account Number in the name of your company. <\/li><li>Next, open a current bank account in the name of export for availing of financial transactions. <\/li><li>Next, you need to approach DGFT and obtain IEC, import-export code. <\/li><li>A business owner can leverage government avenues in importing countries to identify potential buyers and vendors. Furthermore, the company must enroll with <strong><em>Export Promotion Councils and Commodity Boards<\/em><\/strong> to access benefits rendered by the government. <\/li><li>Draw a contract with a trusted shipping agency to ship your product abroad in a legit way. <\/li><li>Once you are ready to export, you will require addressing some legal formalities to clear the shipment from the custom. We advise you to approach a <strong><em>customs<\/em><\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Customs\"><strong><em>[1]<\/em><\/strong><\/a><\/sup> housing agency to serve such a purpose. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Documentation_for_Granite_Export_from_India\"><\/span>Common\nDocumentation for Granite Export from India <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Certificate of Incorporation <\/li><li>Company Permanent Account Number<\/li><li><a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>GST<\/strong><\/a> and other tax registrations<\/li><li>Import Export Code* (IEC)<\/li><li>\u00a0Registration-cum-membership certificate from the EPCs<\/li><li>Customs clearance documents, such as Bill of Lading and packing list\u00a0<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Avail_Import_Export_Code_from_DGFT\"><\/span>How to Avail Import Export Code*\nfrom DGFT? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Step 1: Open the following link to reach out to DGFT\u2019s portal.  https:\/\/dgft.gov.in\/CP\/. <\/p>\n\n\n\n<p>Step 2:&nbsp;\nTap on the \u201cApply for IEC\u201d button<\/p>\n\n\n\n<p>Step 3: On the following page, submit the\nregistration details such as name, contact number, email id, Pin code, and\nCity. <\/p>\n\n\n\n<p>Step 4: Hit the Send OTP tab to get the code\non your contact number and email id. Once done, go back to the home page, and\nselect the &#8220;Apply IEC&#8221; button, and complete login formality via login\ncredential. <\/p>\n\n\n\n<p>Step 5: After login, start filling <a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>IEC registration<\/strong><\/a> form. The form seeks the following detail from your side. <\/p>\n\n\n\n<ul><li>Business detail<\/li><li>Designation <\/li><li>Bank account details and canceled checkbook<\/li><li>Preferred sectors of operations<\/li><li>Acceptance of Undertaking\/Declaration<\/li><\/ul>\n\n\n\n<p>Once you provided the aforesaid details, tap\non the \u201cSave and Next\u201d button.<\/p>\n\n\n\n<p>Step 6: Scroll down to the bottom of the page,\ntap on the &#8220;Sign&#8221; button. <\/p>\n\n\n\n<p>Step 7: Use either DSC (Digital Signature\nCertificate) or Aadhar OTP for the form submission. <\/p>\n\n\n\n<p>Step 8: Make an online payment against the\napplication through the payment gateway. <\/p>\n\n\n\n<p>After submitting the e-form, the authority\nwill verify it for potential discrepancies. This process may take some time. The\napplicant has to wait for the certificate until the authority stamped their\napproval on the application. Upon successful authentication, the authority\nconfers the IEC certificate to the applicant via their online portal. Users can\ndownload this certificate from the &#8220;Print Certificate&#8221; option listed\nin &#8220;Managing IEC.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Granite export is certainly a profitable business option for <a href=\"https:\/\/corpbiz.io\/startup-india-registration\"><strong>Startups India<\/strong><\/a>.\u00a0Considering the past export data, it seems that global demand for Indian granite will rise stably in the future. This is the perfect opportunity for entrepreneurs who are eyeing to set up a business model that ensures long-term sustainability and stable profit for years to come. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/what-is-the-iec-registration-process-in-india\/\">What is the IEC Registration Process in India? <\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Granite is a primary component for construction and its global demand is escalating every passing day. The granite export from India has witnessed huge growth in the past few years owing to its unparallelly quality. The data of Indian grant export manifest that more than 140 nations frequently import Indian granite. Therefore, setting up a [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":32953,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1861],"acf":{"service_id":"16"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":12647,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32929"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=32929"}],"version-history":[{"count":28,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32929\/revisions"}],"predecessor-version":[{"id":32962,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32929\/revisions\/32962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/32953"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=32929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=32929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=32929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}