An interview of Shri Babulalji Singhvi who will inspire us how to do the business in a difficult time.
Introduction
Shri Babulalji Singhvi’s native place is Asada. He is the founder member of the Friends and Friends group. He has started the business from scratch and now handling various businesses like edible salt, commercial salt, Castrol oil, and dragon fruit. You can watch the full profile of the business on the below link https://www.friendsgroup.co.in/.
How to Start the Import/Export Business
From the Registration point of view –
- Take Import-Export code
- Take the GST Certificate
From Government point of View –
We have to check the regular updates of the government of India. We can do every item import and export that the government of India is permitting. Also, there are lots of incentives in the export business.
From Practical Point of view-
- Knowledge – Knowledge of the Product is a must for doing the export business.
- Marketing of the Product – The second step is to find the market of the business. Once you get the market of the product you can start the production
- Manufacturing – It is always advisable to do the manufacturing rather than trading. As it gives confidence to the exporter
- Utilisation of Funds – There is no harm in taking the bank loan or loan from any party but never misutilse the fund in buying a house or expensive car. Always utilize 100 % fund in the business. Also, it is advisable to keep some buffer fund to get the benefits from any business opportunity if comes.
- Always think long term – Try to do the contract with the debtors and supplier for the long term. We are doing a contract of 30 years with the client.
- Timely delivery – Exporter always wants the timely delivery, If for any purpose you are not able to deliver than inform in advance so that they can plan for other option and it will increase the confidence of exporter on you.
- Quality – You have to be expert knowledge of the product and maintain the superior quality from the peers. If there is fault in quality there will be difficulty in getting the payments
Is COVID is an Opportunity for the India?
Yes, may be this type of pandemic can be opportunity for the India. As many countries are looking for the alternative to China.
I will suggest the government to take the following step-
- Single window system of the business
- Ease of finance for the MSME
- Increase duty on foreign products
- Hassle-free availability of land
- Ease of doing business by reducing the paperwork and taxation
In past also I have seen after an earthquake in Bhuj lots of company have come to Bhuj and it has developed in a faster pace.
How you are able to maintain the Joint family business for so many years?
We have done the distribution of the work. Each person is handling his work. Also, we are doing meeting with each other on a regular interval so if any problem comes, we jointly handle the situation.
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