Indian customs authorities can be very strict about the commercial transactions of each shipment. This includes the origin of each transaction, payment for the goods, and the ownership of the goods in-country. For instance, goods are often subject to revaluation at customs. Revaluations of your shipment can have dire consequences for profit margins.
India is a global tech dynamo, hosting world-class data centers and asserting itself as a key tech hub. Subsequently, the Indian technology trade is thriving.
India, however, has also established a status for its rigorous import processes. For example, essential compliance with certifications like:
- Wireless Import Permit (WIP) permit to ensure they meet compliance standards.
- Bureau of Indian Standards (BIS) certificate is then required for all electronic equipment.
- Mandatory Testing and Certification of Telecom Equipment (MTCTE) certification is now also compulsory for all listed IT hardware entering India to have a .
- Extended Producer Responsibility (EPR) is a mandatory registration recognized as an efficient waste management policy to help improve recycling and reduce landfilling.
Most of these permits and certifications have lengthy lead times. However, TecEx either has these or can source them on your behalf.
On top of already high import taxes, India also applies a GST rate that varies from as little as 0.25% to a high of 28%.
India shares a border of both land and water with nine countries including Afghanistan, Bangladesh, Bhutan, China, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. Despite the prominence of trade, India is considered a high-risk lane. It is, therefore, important to investigate comprehensive liability cover for your goods. This also include trade agreements, like the India-Afghanistan Preferential Trade Agreement (PTA).