India and Singapore have bilateral solid commercial ties, with India sending a wide range of agricultural goods to Singapore. In the two years between 2015 and 2016, India's total exports to Singapore were more than $301.45 million., groundnuts, rice, cocoa, onions, and nuts are the most popular Indian exports to Singapore. Many different categories of items are a part of exports to Singapore. Almost all countries have similar export formalities and procedures.
The technical terminologies used in the import and export processes may differ from one country to another. However, the majority of the export and import processes are the same.
Exporting products from India to Singapore is as straightforward as doing business in other countries.
Almost all nations require a one-time licencing procedure to be completed to work as an Exporter/Importer. To function as an importer or exporter in India, you must have an IEC number (Import Export Code number).
The export to Singapore and other nations is nearly the same throughout the world.
Documents for export customs clearance are necessary for the exporting country.
- Customs Entry Document: (as stipulated by the exporting country's customs) provided by the exporter's customs broker or the exporter.
- Customs bond, if required, for specific products exporting to obtain import advantages from the government of the exporting nation.
- If appropriate, a Legal Undertaking (LUT) is required to collect export advantages from the government of the exporting nation or to export specified items to fulfil government requirements and obligations.
- If appropriate, an export licence must be obtained from the government agency of the exporting nation
- Purchase order or Letter of Credit between the exporter of the exporting country and the overseas buyer of commodities
- The vendor of goods issues a commercial invoice with a packing list.
- Certificate of Origin is issued by the competent authorities of the products' country of origin.
- Certificate of Insurance issued by a government-authorized insurance service provider
- Certificates of Inspection, if applicable: Some importers need the exporter (seller) to examine export products to the exporting country by an internationally recognized inspection agency such as SGS, BVQI, or another Quality inspecting agency, etc. through LC or Purchase order.
- If appropriate, a weight certificate Weight certificates provided by exporters are necessary for various situations such as flight stability, vessel stability, international road safety requirements.
- Consular Invoice, if applicable: Some importing nations need embassy authenticated paperwork, which is required in the importing country to clear goods at customs.
With the listed documents, one can export to Singapore or any other nation.
