How Can Your Manufacturing Business Become a One Star Export House?

Foreign trade programs are helping Indian exporters to expand into the transnational market, but will Indian exporters be able to expand in the transnational market only with the help of foreign trade programs? No, that’s why One Star Export House helps in this task; it works like a key to success for exporters. This recognition not only strengthens your business character but also opens the door to colourful benefits and support systems provided by the government.

In this composition, we’ll explore how your manufacturing business can attain the One Star Export House status, its eligibility criteria, benefits, and the step-by-step process to apply. But before that, we will understand what a one star export house is.

What’s a One Star Export House?

A One Star Export House is the original position of recognition granted by the Directorate General of Foreign Trade( DGFT) to exporters who demonstrate harmonious import performance. It’s the first league in a five-star standing system established under the Foreign Trade Policy( FTP).

Star Export House orders

• One Star Export House – USD 3 million FOB exports
• Two Star Export House – USD 25 million FOB exports
• Three Star Export House – USD 100 million FOB exports
• Four Star Export House – USD 500 million FOB exports
• Five Star Export House – USD 2000 million FOB exports

Eligibility Criteria for One Star Export House

To qualify as a One Star Export House, your manufacturing business must meet the following minimal import performance demand:

• USD 3 million in accretive FOB value of exports during the current and/ or antedating three fiscal years.
• Import performance includes direct exports, third-party exports, and supposed exports.
• The import development must be certified by a Chartered Accountant( CA).
• The business must hold a valid Import Export Code( IEC).
• Only units registered and biddable with GST laws and applicable import regulations are eligible.

Documents Needed for One Star Export House

Import Export Code ( IEC)

Exporters need to have an Import Export Code; this document is obligatory for anyone who wants to avail of the benefits of the One Star Resort House.

Digital Hand Certificate ( DSC)

As digitalisation continues to increase, One Star Export House is also witnessing digitisation, which is why they bear a valid digital instrument.

RCMC ( Registration- Cum- Membership Certificate)

– From an Export Promotion Council.

CA Certificate

Certifying the FOB value of exports for the applicable times.

Bank Realisation Instruments( BRCs)

It’s also known as Foreign Inward Remittance instruments ( FIRCs). One star exportt houses ask for it as evidence of foreign currency earnings.

GST Registration Certificate

PAN Card and Aadhaar

This document should be for the aspirant or proprietor for their details.

Address Evidence

Address evidence includes furnishing any document from the business demesne for verification of address, it can be anything as an Aadhaar card, visage card, etc.

Audited fiscal Statements

In this, the fiscal statements of the business are asked for, which should be checked , and that too of the last three times, in which you filled the form for joining One Star Expert House.

Step-by-Step Operation Process

Step 1: Register on the DGFT Portal

Visit https// dgft.gov.in and register using your Import Export Code( IEC).

Step 2: Log in and Navigate to the operation

Log in to the website and go to the Services → Exporter Services → Apply for Star Export House Certificate.

Step 3: Fill in operation Details

Enter business information, import development, IEC, and authorised signatory details.

Step 4: Upload Supporting Documents

After filling in all the operation details, you have to upload all the documents that will be needed and which we bandied over, like Import Export Code, Certificate of CA, Patrol Registration Certificate, Digital Hand Certificate, Address evidence, etc.

Step 5: Submit Application

Corroborate the information and submit the operation digitally using the DSC.

Step 6: Track the Status

Monitor your operation status through your DGFT dashboard. blessings generally take a many days to many weeks.

Benefits of Getting a One Star Export House

• Credibility and Character

One Star Export House is similar to a big brand that whoever has it has a different respect in the request, and along with that, they get credit or a loan fluently and in a good quantum.

• Priority in Customs Clearance

Being a one- star import house, they get precedence over others, and hence, the income is generated briskly.

• Ease of Doing Business

Export House recognition simplifies the process of filing shipping bills, serving impulses under FTP, and sharing in government import creation schemes.

Conclusion

Getting a One Star Export House is a significant step for your manufacturing business toward achieving global trade excellence. Along with this, if you’re completely concentrated on your business eventuality, strength, performance, discipline, import planning, etc., also business growth will be veritably presto.

Take your first step to become a one star export house by understanding the process below, preparing the colourful types of documents bandied over, and logging in through the GIFT gate. This recognition could be the turning point that propels your business into the global arena.