OUR SERVICES
Import Services
Importing goods and services entails purchasing or transporting them from a foreign market to one’s own
What is the Importance of import services?
Importing goods and services entails purchasing or transporting them from a foreign market to one’s own. This is the simplest way for a company to enter international trade because it requires almost no investment in establishing a production unit in a foreign country, only distribution channels are established to import or export goods successfully.
There are two ways a firm can import:
Direct Importing: In Direct Importing, a firm directly deals with the customer/supplier of the foreign country and performs all the formalities, including shipment and financing of goods and services
Indirect Importing: In Indirect Importing, a firm deals with the customer/supplier with the help of middlemen. They do not have direct contact with customers or suppliers. Most formalities and work are completed with the assistance of middlemen, such as export houses, purchasing businesses or offices of overseas customers, or wholesale importers in the case of import operations.
Advantages of Importing:
- Easiest and Simplest: Importing is the simplest way to enter the international market when compared to other methods. There is no need to establish and manage any business units abroad, which simplifies the process.
- Less Investment: Exporting and importing require less investment because the enterprise is not required to establish a business unit in the country with which they are dealing.
- Less Risky: If there is no investment or very less investment required in importing in a foreign country, the firm is free from many risks involved in foreign investment.
- Availability of Resources: As the resources are unevenly scattered around the globe, it is very important for every country to import goods around the globe, as no nation can be 100% self-sufficient.
- Better Control: Because there is less involvement in the foreign country, importing can provide better control over trade. Everything is under the control of the home country, so there is no need to establish a unit in the foreign country.