The ongoing COVID-19 pandemic has had a major impact on our lives. More than one million people have lost their lives, and millions of others are battling the disease

  • The pandemic has also had a majorly negative impact on the global trade industry
  • Importers and exporters are facing several challenges such as shipment delays, investment in additional equipment, as well as issues pertaining to social distancing
  • The demand for several products has also been hit, as consumers opt to stay indoors in order to protect themselves

However, this crisis has also driven up the demand for certain products, including medical equipment

  • One such product is thermal scanners. These scanners can be used to assess the body temperature of a person from a distance
  • These scanners are a safe way to assess the temperature because it does not need any physical contact. In addition to this, such scanners are also easy to operate
  • This blog discusses the process of importing thermal scanners into India

The Current Situation

It is important to note that India has ramped up the production of medical equipment in recent months. This has been done in order to ensure that the country does not face any shortages related to these vital components of the healthcare system

  • However, the domestic production of thermal scanners is not quite sufficient to meet the rapidly rising demand. A lot of Indian cities are witnessing a sharp rise in the demand for these scanners, including Delhi, Mumbai, Chennai, Bangalore, and Madurai
  • Due to the shortage of domestically-produced thermal scanners, their price has been going up. These scanners were previously available for ₹3,000, but the price has now gone up to as much as ₹8,500
  • In order to fulfil the rapidly rising demand, Indian traders are looking towards importing these scanners from other countries such as China

Procedure for Importing Thermal Scanners into India

  • If you are a trader looking to import these thermal scanners from other parts of the world, then you need to follow a series of steps
  • The first step would be to acquire an Import-Export Code (IEC). This code is mandatory for any business that is looking to import products into the country

For this, you need to have certain documents, including an address proof and an identity proof

  • Once the licenses and documents are in place, the next step is to find an exporter and sign an agreement with them. Such an agreement typically includes the quantity of the thermal scanners as well as the price per unit
  • Thereafter, the next stage is to track your shipment. Once it has arrived onshore, then the importer must pay the respective import and customs duties
  • After duties have been paid, the importers must receive the thermal scanners and issue a confirmation to the exporter. Finally, once the thermal scanners have been accepted, the transaction is complete, and the payment can be releasedthe respective
  • After the completion of all of the above steps, you can decide whether to sell these thermal scanners via online or offline channels

To conclude, it is clear that there are several steps to be followed in order to import thermal scanners into India. Institutions such as Euro Exim Bank offer customised support to traders in the form of financial instruments and bespoke trade advisory services. Euro Exim Bank offers financial instruments such as Bank Guarantees and Letters of Credit (LCs). Further information about Euro Exim Bank and its key product offerings is available here