The purchase and inbound shipment of goods or services from a foreign country into the domestic market.
Import is the process of buying goods or services from a supplier in another country and bringing them into the domestic market. Businesses import to access products that are cheaper, higher quality, or simply unavailable locally.
An import transaction involves a purchase order or contract, agreed Incoterms, customs clearance in the destination country, payment of any applicable customs duty and taxes, and documentation such as the commercial invoice, Bill of Lading and certificate of origin.
Buyers sourcing from India typically import finished goods, raw materials, or components directly from verified manufacturers and suppliers.