Successfully using foreign exchange efficiently and effectively, fulfilling the economic needs of India and industrial needs, without disregarding consumer needs as well, is the main basis of India's import policy (Indiamart, 1996-2010). According to Indiamart.com, there are three main objectives when it comes to importing: 1) To make necessary imported goods more easily available, including essential capital goods for modernizing and upgrading technology; 2) To simplify and streamline procedures for import licensing; 3) To promote efficient import substitution and self-reliance. (Indiamart, 1996-2010)
To ensure Boost's success in importing their services to India as a franchise, they would need to demonstrate the benefits of having Boost in India. Importing Boost could offer India the opportunity to modernize and upgrade its technology by providing healthy, fruit-oriented beverages for consumption. It could also simplify and strea
...mline procedures for import licensing between Australia and India. Furthermore, it would position India as a strong, well-developing country that embraces the opportunity to host an international brand like Boost.
Various ways in which Boost can import into India include sea, land, and air (Datevs.com, 2010). Goods can also be imported via post parcel or on person while travelling. However, if Boost establishes business in India, post parcel and on-person methods would not be utilized as much as sea, land, and air. The main focus for Boost would be importing their machinery and promotional accessories in order to officially introduce Boost to India.
To ensure that goods meet global standards and are accepted into the country, certain procedures must be followed when entering the country. These procedures include submitting a 'Bill of Entry'/'Shipping Bill' in multiple copies to customs, the bank, and the importer, Boost, for
future reference. It is also necessary to examine the goods and provide license documents to prove that they are not a threat to India and are legally eligible for importation into the country (Datevs.com, 2010). The examination period must be completed within 30 days for the goods to be successfully accepted into India.
If the examination of the goods is unsuccessful, they will be disposed of, unless a Customs officer grants an extension. The examination process may not take the full 30 days. Once the imported goods are cleared and the importer is notified, they can be sold immediately. However, the goods cannot leave the customs office until they receive an 'Out of Customs Charge' to indicate that they have been examined, verified as non-prohibited imports, and had customs duty paid. Payment for the customs duty must be made within 5 days after receiving the 'Bill of Entry' for duty payment.
Boost plans to import their machinery and promotional gear into India. Although Australia does not currently have a trade-alliance with India, it is being considered. To leverage China's status as India's second-largest trade partner, Boost can have their packaging and promotional gear produced there.
An example of a similar essay is the Pestle Marketing Analysis Of China Example.
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