Updated: 14th November 2025 Foreign Inward Remittance Certificate (FIRC) is a key term for anyone in India receiving payments from abroad,&nbsp; be it exporters shipping goods overseas or freelancers offering services to international clients.

Are you dealing with international payments and confused by terms like FIRC? If you’ve ever received money from abroad for your business or freelance work, you might have been told to get a FIRC. Don’t worry – you’re not alone in finding this acronym puzzling. In this conversational guide, we’ll demystify Foreign Inward Remittance Certificates (FIRC) – explaining what they are (including the full form and meaning), why they’re important, who needs them, and how to obtain one. By the end, you’ll know exactly why FIRC matters for Indian exporters, freelancers, small businesses, and even accountants handling cross-border transactions. Plus, we’ll share tips on making the whole process much easier (hint: there are modern solutions that do the heavy lifting for you). Let’s dive in!

Let’s start with the basics: FIRC stands for Foreign Inward Remittance Certificate. It’s essentially an official document from an Indian bank that confirms you’ve received a payment from abroad. Think of it as a receipt or proof of an inward remittance (foreign money transfer) into your Indian bank account.

In practical terms, a FIRC contains details of the foreign payment you received – such as the amount in foreign currency and INR, who sent the money (the sender’s name and country), who received it (your name/business name), the date, and the purpose of the payment. It’s issued by your bank (specifically, banks authorized to deal in foreign exchange, known as AD Category I banks) whenever you receive money from overseas.

In simpler words: if a client overseas wires you funds for an export or a freelance project, the FIRC is the document from your bank saying “Yes, we’ve got the money from abroad, and here are the details.” It’s an official proof that foreign funds landed in India into your account.

Quick note: Sometimes people use “FIRC” loosely to also refer to similar documents like a foreign inward remittance advice (FIRA).&nbsp; Essentially, all these serve the same purpose – proving that an international payment was received. We’ll explain the differences in a bit, but generally if someone asks for a FIRC, they mean the proof of a foreign payment credit.

Whether you are an Indian exporter, a freelancer providing services globally, or a small business owner, obtaining a FIRC (or its equivalent advice) for your foreign earnings is very important. Here are the key reasons why a FIRC matters so much:

In summary, a FIRC is more than just a piece of paper. It’s crucial for compliance, unlocking financial benefits, and keeping clean records of your foreign income. In India’s regulated foreign exchange environment, this certificate (or its digital equivalent) becomes a cornerstone for anyone transacting internationally.

Now that we know why it’s important, you might wonder: “Do I actually need a FIRC?” If you fall into any of the following categories, the answer is likely yes:

In a nutshell, any Indian individual or business receiving money from outside India should obtain a FIRC for each such inward payment. This spans everyone from large export firms to freelance graphic designers paid via PayPal. It’s a best practice even if not mandatory in every case, because it’s your safety net and proof if questions arise later.

FIRC in India: RBI Guidelines and the Switch to FIRA

It’s important to understand how FIRCs are handled in India today, because there have been regulatory changes in the past decade. Historically, banks issued a physical FIRC on security paper for every foreign inward remittance received against exports. However, since 2016, the RBI changed the process for most cases. Let’s break down what that means:

You might also have seen the term e-FIRC. This is a bit tricky because e-FIRC isn’t a separate document you receive in hand – it’s more of a concept/number in the background banking systems.

For most small businesses or freelancers who use a single bank (or a single platform) to both receive funds and handle paperwork, you may not need to worry much about the term “e-FIRC” – your bank’s advice and the automated systems take care of it. Just know that it refers to the electronic trail of your remittance in RBI’s systems.

Two acronyms that often come up together in export finance are FIRC and BRC. They are related but serve different purposes, and it’s important not to confuse them:

In simpler terms, think of it as a two-step chain: First, you get the FIRC/FIRA when money comes in. Then, that leads to a BRC which connects the money to a specific export transaction.

For example, suppose you shipped 100 units of a product on a certain date (your shipping bill records this) and later you got USD 1,000 for that shipment. When the $1,000 arrives, your bank gives you a FIRA confirming receipt. You then inform the bank (or it knows via systems) that this $1,000 corresponds to that shipping bill. The bank updates the records and an e-BRC is generated which you can download from the DGFT portal as proof that the export transaction is closed with payment received. Why is BRC needed? Because to claim many export incentives or to fulfill export obligations, you have to show BRCs to the government – it proves you not only exported but also got paid for it.

Bottom line: FIRC (or FIRA) confirms money received; BRC confirms that money was tied to an export. Both are important for exporters of goods (first you get FIRC, then BRC to claim benefits). Freelancers and pure service exporters mostly just handle FIRCs unless they are in scenarios that require reporting exports formally.

&nbsp;You can use this decision tree to decide which one do you need.&nbsp;

FIRC Certificate Format:&nbsp; What Information Does it Include?

This is a sample FIRC document. All crucial remittance details have been masked for security purposes. Now let’s break the content of a FIRC down: 

If you’ve never seen a FIRC or FIRA document, you might wonder what it looks like and what details it carries. While formats can vary slightly from bank to bank, a typical FIRC/FIRA document (usually a PDF or letter these days) will include the following key information:

A modern FIRA might not have the word “Certificate” on it, but it contains the same info as the old FIRC. Some banks still title it “Certificate of Foreign Inward Remittance” even if it’s a PDF. In any case, all the above details are what make it valuable – ensure everything matches your expectations when you receive one (more on that in a moment).

How to Obtain a FIRC (Procedure to Get the Certificate)

Obtaining a FIRC or FIRA for a foreign payment is not always automatic – often, you’ll need to request it from your bank. The process can vary slightly by bank, but here’s a general step-by-step guide for Indian businesses or freelancers:

1. Receive the Foreign Payment: This might sound obvious, but you can only get a FIRC after the money from abroad has credited to your bank account in India. So, first step – make sure the funds have arrived. Note down the transaction details like the date of credit, the amount in foreign currency and INR, and any reference number (UTR) if available. This info will be needed for the request.

2. Contact Your Bank to Request the FIRC/FIRA: Reach out to your bank’s branch or your relationship manager and let them know you need a FIRC (Foreign Inward Remittance Certificate) or advice for a particular transaction. Many banks have a specific form or format for this request. Depending on the bank, you might do one of the following:

In your request, you’ll generally need to provide:

Tip: If your bank has a mobile app or online banking, search for terms like “FIRC request” or “Remittance Certificate” – some banks have digitized this. Otherwise, a quick email to your branch manager with the details might do the trick.

3. Provide Supporting Documents (if required): Banks might ask for some documents to ensure the request is legit and to attach as proof of the transaction’s purpose. Common ones include:

Not every bank will ask for all of these – often if the transaction was straightforward and coded correctly, a FIRC request might go through with just the form. But don’t be surprised if they ask for an invoice copy or such, especially for higher amounts or the first time you’re requesting.

4. Pay the Bank’s Fee (if any): Here’s the part not everyone realizes: many banks charge a small processing fee for issuing a FIRC/FIRA. The fee varies by bank but is typically in the range of ₹200 to ₹500 per certificate, plus GST. For example, one bank might charge ₹300 + taxes for each FIRC. Some banks waive it for premium account holders or in special cases, but generally expect a fee. Usually, the bank will deduct this fee from your account or ask you to pay it upfront. When you fill the request form, it might mention the fee or your branch will inform you. (As a rough timeline, after you request, it often takes around 1–2 weeks for the bank to issue the FIRC. Some get it done in just a few days, but don’t bank on it – pun intended!)

Good News: If this process sounds a bit old-fashioned, you’re right – it can be tedious. But lately, some fintech platforms and modern banking services offer FIRA certificates for free and instantly as a perk. (We’ll talk more about that in a moment when discussing easier ways.)

5. Wait for the Certificate to be Issued: Once you’ve submitted the request (and any docs and fees), the bank’s forex operations team will verify the details. They’ll match the info you gave with the actual inward remittance record. If everything checks out, they will generate the FIRC (or FIRA). Nowadays, this is usually a PDF document on the bank’s letterhead with a digital signature, which they might email to you or make available for download (some still might print it for collection at the branch if you specifically need a hard copy). The time frame can vary:

Keep an eye on the email you provided (and check the spam folder just in case, since it’s often an automated email with a PDF attachment).

6. Verify the Details on the FIRC: When you finally receive the certificate/advice, do not skip this step! Carefully check all the details:

If you spot any error (typos in your name, wrong amount, incorrect purpose code, etc.), contact the bank immediately to correct it. It’s important the FIRC reflects the truth of the transaction. Banks can issue an amended FIRC if needed, but you may have to give proof of the correct info (for instance, if your name was spelled wrong, you might send a copy of your PAN or passport; if the amount in INR is off, maybe a statement copy). It’s best to catch errors early and have them fixed, so you don’t run into problems later when using the FIRC for official purposes.

7. Use the FIRC for Your Needs: Once you have the FIRC/FIRA in hand (or in email):

In short, use the FIRC anywhere you need to prove “I got paid from abroad for X purpose.” It’s your golden ticket for compliance and benefits.

8. Remember: One FIRC = One Transaction: If you receive multiple foreign payments, you will generally need to request separate FIRCs for each. Say you’re a freelancer who got five different payments from five clients – you’d have five FIRC documents (and possibly five fees…). Some payment aggregators or services might give a consolidated statement for multiple small payments, but banks usually treat each inward remittance as a separate record and issue individual certificates.

Getting FIRC the Easy Way (Automatic FIRC with Modern Platforms)

At this point, you might be thinking, “Wow, that’s a lot of steps and wait time just to get a certificate!” 🤯 Indeed, dealing directly with banks for FIRCs can be slow and involve charges. Here’s where fintech solutions come to the rescue.

Platforms like Skydo offer a much smoother experience for handling foreign payments. For instance, when you receive an export payment through Skydo, the FIRC (or FIRA) is generated for you automatically – and at no extra cost. It’s basically built into the process. You don’t have to file separate requests or wait weeks. As soon as the payment is received and processed, you can log into your Skydo dashboard and download the remittance advice instantly. All the details (amount, purpose, etc.) are neatly recorded, compliant with RBI rules, without you lifting a finger to request it.

This kind of solution is a game-changer for freelancers and small businesses: you get paid faster (since such platforms often streamline the transfer) and you get the FIRC document instantly for each transaction. No bank queues, no follow-ups, no fees per certificate. If you’re frequently dealing with international clients, using a modern global payments platform can save you a lot of headaches when it comes to compliance paperwork like FIRCs.

Is FIRC Mandatory for GST Refunds and Other Purposes?

One common question that arises is whether having a FIRC is mandatory for certain claims, especially the GST refunds on exports. The short answer: Yes, if you’re claiming a refund or benefit on the basis of an export, you’ll need proof of foreign inward remittance – usually in the form of FIRC/FIRA.

When you export goods or services from India, those exports are considered “zero-rated” for GST, meaning you don’t have to pay GST on the sale. However, you might have paid GST on inputs (input tax credit) and you’d want to get that refunded since your output was zero-rated. To process this refund, the tax authorities require evidence that you indeed received payment in convertible foreign exchange for that zero-rated supply. FIRC is that evidence. It authenticates that the money entered India’s banking system against your export.

Here’s how it typically works for a GST refund on exports:

If you don’t have a FIRC to show and try to claim a GST refund, the claim likely won’t be accepted because you haven’t furnished proof of realization of export proceeds. It’s a critical document for this purpose.

Similarly, for other schemes like certain subsidies or duty credits for exporters, the requirement is often to show the BRC or FIRC to prove that the export was completed monetarily.

For freelancers or service exporters who may not deal with GST refunds (if, say, you’re below GST threshold or exports of services under LUT), it might not feel “mandatory” day-to-day. But consider that under income tax or any scrutiny, you’d still want that FIRC as proof of earnings. Also, tomorrow if you do register for GST and want to claim something, having FIRCs from the past means you’re prepared.

In summary: For compliance and benefits, having FIRCs is effectively mandatory. It’s part of the paperwork you should maintain if you earn in foreign currency. And specifically for claiming GST refunds on exports, a FIRC is usually non-negotiable.

Conclusion:&nbsp; Making FIRC Hassle-Free

Dealing with cross-border payments can seem daunting at first – there’s compliance to consider and extra paperwork like FIRCs to manage. But understanding the ins and outs of FIRC means you’re now equipped to ensure every dollar, euro, or pound you earn overseas is properly documented without stress.

The good news is that you don’t have to wrestle with these processes alone. As the world of international business is evolving, so are the tools to manage it. Your focus should be on growing your business or honing your craft – not on chasing bank certificates. That’s exactly why platforms like Skydo exist: to simplify global payments and the red tape that comes with them.

With Skydo, for example, you can enjoy seamless international payments with no hidden fees, and every time you receive a cross-border payment, an auto-generated FIRC (remittance advice) is instantly available for you. No special requests, no fees per certificate, no delays – it’s just there, ready to download when you need it. This means you remain fully compliant with RBI rules effortlessly, and you can devote your energy to what truly matters: delivering great products or services and scaling your venture.

In conclusion, a Foreign Inward Remittance Certificate is a vital piece in the jigsaw puzzle of doing business globally from India. It ensures your hard-earned foreign revenues are officially recognized and securely in your pocket (or rather, your bank account). By staying informed and leveraging modern solutions, you can turn what used to be a cumbersome process into a minor footnote in your workflow. Happy exporting (or freelancing), and may all your international payments come with an easy FIRC! 🚀

What is FIRC? Learn the full form, meaning, and how Indian exporters & freelancers can get FIRC or FIRA to claim tax benefits and stay RBI-compliant.

FIRC Full Form, Meaning & Guide for Exporters

Dive into the world of FIRC. Explore the full form, importance, and process of obtaining FIRC for your international transactions

Foreign Inward Remittance Certificate (FIRC): Full form, meaning and RBI guidelines

Prashanth

small_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

thumbnail_63aec75c493ff751315d72ac_63948a436dc07c0bec0374ea_uA3i3IUVLPHk_-xjAlW9Z7bxKaOLRCylGX1byeHyzyE.png

Prashanth Kumar

When you export from India, regardless of the product or service, the invoice you send matters, not just for your client but also for GST compliance, customs documentation, and foreign exchange tracking.&nbsp;

One field that often confuses many new exporters and freelancers is the HSN code (also known as Harmonised System of Nomenclature). You may wonder:&nbsp;

Will it impact my GST (Goods and Services Tax) refund?

This blog clearly breaks down the concept of HSN code, the importance of HSN, and provides action steps to help you prepare your export invoices correctly and avoid delays.

What Is the Full Form of HSN? (And Why It Exists)

HSN full form is Harmonised System of Nomenclature. It's a globally accepted uniform classification system that identifies and categorises goods for customs and GST. It helps freelancers and exporters receive payments from abroad without unnecessary delays.

HSN came into effect in 1988, developed by the <a href="https://www.wcoomd.org/">World Customs Organization (WCO)</a>, and is now used by over 200 countries, including India.&nbsp;

If you are not familiar with the term HSN and its meaning, let us break it down for you:&nbsp;&nbsp;

For Indian freelancers and exporters, HSN codes are used in GST filings, export invoices, and most importantly, the documentation your client's bank needs to process your payment.&nbsp;

How to Read an HSN Code: Meaning of All 4, 6, and 8 Digits

In India, you need to use 8-digit HSN codes, where the first two digits represent the relevant HSN chapter, the next two are the heading, the following two are the subheading, and the last two digits are the customs tariffs.

Let us break down the digits of the HSN code 22021010&nbsp; for you:&nbsp;

The best part is that the HSN number speaks the same language everywhere, whether you're sending website designs to a startup in Berlin or software code to a company in New York. 

Your invoice looks professional, your payment gets processed without question in a systematic manner, and you avoid those dreaded "clarification needed" emails that delay your money.

HSN vs SAC Code – Which One Applies to You?

This is a common confusion, especially among freelancers and SaaS companies. Here's the simple breakdown of HSN code list:

But you'll use HSN codes instead if you're shipping physical products - handmade jewellery, organic spices, or textile products.

💡Quick tip: All SAC (Service Accounting Code) codes start with "99"; that's your first clue you're dealing with services. The eight digits of the correct HSN code are mandatory for exports and imports, while SAC codes are 6 digits and mandatory for service providers with a turnover above ₹5 crore.&nbsp;

When Are You Required to Use HSN or SAC in Export Invoices?

You must mention the HSN or SAC code in your export invoice if:

The GST portal doesn't auto-fill this stuff for you, and missing it means your refund application sits in "pending clarification" limbo.

<a href="https://www.gstn.org.in/assets/mainDashboard/Pdf/GST%20e-invoice%20System%20-%20FAQs.pdf">For smaller freelancers</a> (under ₹1.5 Cr turnover): Small taxpayers with an annual turnover below Rs. 1.5 crore are exempt from mentioning the HSN code in their invoices and returns by the tax authorities. But if you're exporting services and want GST refunds, you'll likely need these codes anyway for zero-rated supply claims.

<a href="https://eztax.in/gst/gst-rate-hsn-sac-finder">The penalty reality</a>: A penalty of Rs 50000 (Rs 25000 under CGST and Rs 25000 under SGST) would be levied for not mentioning HSN/SAC or wrongly mentioning it in GST Returns and Invoices used for taxation purposes.

Missing or using an incorrect HSN/SAC code can cause rejections at customs, hold up your client's payment processing, and trigger those dreaded "document discrepancy" emails from banks.

How to Find the Right HSN or SAC Code for Your Business

Start by typing a simple description of what you're selling. The revamped Search HSN tool algorithm is based on Artificial Intelligence and Machine Learning linked with the e-invoice declaration database, so it learns from other taxpayers' use.

Here are some commonly used codes for Indian exporters that play a crucial role in your tax invoicing process:

Most freelancers fall under 998313 (IT consulting) or 998314 (software development). If you're doing social media management, SEO, or digital marketing campaigns, 998365 is your go-to for advertising services.

💡Pro tip: If you're doing mixed work - like building a website AND doing digital marketing for the same client - use 998314 for the development part and 998365 for the marketing part.&nbsp;

Don't try to fit everything under one SAC code; that's how you'll end up with GST notices asking for "clarification."

The GST portal's search is quite intelligent now. Type "web design" and it'll suggest 998314. Type "social media marketing" and you'll get 998365.&nbsp;

Where to Put the HSN/SAC Code in Your Invoice (Export-Focused)

Here's the practical placement guide that matters for getting your payments processed:

Mention it next to each line item in the invoice&nbsp; You can add an HSN/SAC code for each line item by clicking on the Plus sign at the line level.

Include it in shipping bills and customs declarations&nbsp; All eight digits of the HSN code are mandatory in case of export and imports under the GST.

A mismatch can result in refund hold-ups or compliance notices.

Real-world example: Suppose you're billing a client for website development. In your export invoice, you'll show:

Line 1: Website Development Services - SAC 998314 - ₹1,00,000

This same SAC code (998314) must appear in:

Taxpayers will see alert messages if there is a mismatch between the values reported in Table 12 and other tables of GSTR-1.&nbsp;

Beginning January 2025, the third phase of HSN validation will become effective, further emphasising precise HSN code reporting for businesses. The system now auto-validates everything, so those minor inconsistencies that used to slip through? Not anymore.

💡Pro tip: Set up your invoicing software to auto-populate the same HSN/SAC code across all documents. Most accounting software, like Zoho Books or ClearTax, allows you to auto-populate HSN/SAC codes when you create transactions. It's worth the setup time to avoid compliance headaches later.

Use the same code everywhere, every time. Your future self (and your CA) will thank you when refund season comes around.

Here are the mistakes that'll cost you time, money, and sleep:

Leaving the HSN/SAC field blank, especially in zero-rated export invoices&nbsp;

No, a GST bill will not be valid without an HSN code for the tax administration. This is non-negotiable for exports. Freelancers can lose weeks chasing down stuck payments because they left this field empty.

Using incorrect codes based on guesswork or copying other businesses&nbsp;

Just because your friend uses SAC 998313 for "web development" doesn't mean it's right for your mobile app development work (which should be 998314). The GST rates portal now auto-validates everything, so guesswork gets caught instantly.

Using HSN when you're exporting services (should use SAC)&nbsp;

HSN codes are used to classify goods, whereas SAC codes are used to classify services. Using SAC codes to export IT services, digital marketing, or any other service. HSN is only for physical goods.

Not updating codes when your product/service offering changes&nbsp;

I started as a freelance writer (SAC 998319 - other professional services) but am now developing websites. Update to SAC 998314. The system tracks everything, and inconsistencies trigger compliance notices.

Simplify Export Payments with Skydo&nbsp;

Getting paid for your exports shouldn't cost you thousands in bank fees and poor exchange rates. Banks charge 1.2% hidden FX margins, PayPal takes 8.7%, and getting FIRA certificates is a nightmare.

This is where you need a platform like Skydo.&nbsp;

On a $7,000 payment, you'll receive ₹5,96,680 vs ₹5,89,269 from banks. That's ₹7,400+ more in your pocket.

Whether you're freelancing, running an agency, or selling on Amazon Global, keep more of what you earn.

<a href="https://www.skydo.com/">Get started with Skydo</a>!

large_HSN full form

medium_HSN full form

small_HSN full form

thumbnail_HSN full form

HSN full form

Imagine you’re an international buyer,&nbsp; say, a U.S. company, and your Indian supplier has sent an invoice asking you to pay into a “Skydo Virtual Account” instead of a traditional Indian bank. It’s natural to wonder: Is this safe and legal? The short answer is yes. 

In fact, you’d be in good company: Amazon, Stanford University, Microsoft, and many others already use Skydo’s <a href="https://www.skydo.com/blog/virtual-account-numbers">virtual accounts</a> to pay their Indian vendors. Skydo’s virtual accounts are simply local bank accounts set up for each currency (USD, EUR, CAD, SGD, etc.) and are backed by real regulated banks. Paying into a Skydo account means you’re actually sending money to a major bank (in the U.S., Europe, Singapore, etc.), not into some anonymous wallet.

In practice, you wire dollars to a Community Federal Savings Bank (New York) account or send euros to a Barclays<a href="https://www.skydo.com/blog/iban-number-meaning-full-form">/IBAN account,</a> and Skydo’s system credits the Indian exporter and provides them with the required digital paperwork (<a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">the FIRA</a>) for RBI&nbsp; (India’s central bank, regulating the financial system) compliance. This process is faster, cheaper and more transparent than a traditional <a href="https://www.skydo.com/blog/swift-money-transfer-ultimate-guide">wire/swift transfer</a>,&nbsp; and it comes with industry-grade security.

How Virtual Accounts Work – Faster, Cheaper, Transparent

A “virtual account” in Skydo’s terms works like this: when your vendor signs up with Skydo, they instantly get bank accounts in 10+ countries (USD, EUR, CAD, GBP, AUD, SGD, etc.). From the payer’s perspective, you just wire money to a normal-looking bank account in your country or region.&nbsp;

Behind the scenes, Skydo’s platform collects that money, converts it at real-time mid-market rates with a minimal fee, and remits INR to the exporter’s Indian account. This avoids the usual multi-bank wire chain and opaque fees of traditional FX. For example, Skydo charges a flat USD $19 for payments up to $2,000, or $29 up to $10,000, with zero hidden markups.&nbsp; The exporter covers the fee, so you can pay the full invoice amount without worrying about extra charges or deductions.

Unlike international wire transfers to Indian bank accounts, payments to&nbsp; Skydo's local virtual account are treated as local transfers. That means you skip SWIFT fees, avoid lengthy settlement timelines, and don’t have to deal with repeated follow-ups from your supplier. Funds typically clear within 24–48 hours.

One reviewer of Skydo noted that using it was “an amazing experience … completely hassle free” for international invoicing In short, paying to a Skydo virtual account means your money moves as if it were a local transfer (often clearing in 24 hours) while the exporter still gets the correct tax-compliant confirmation (FIRA) on their end.

Skydo runs on global financial rails, partnering with banks you already know and trust.

For example, <a href="https://www.bankingcircle.com/banking-circle-partners-with-skydo-to-accelerate-cross-border-collections-for-indian-businesses/">Banking Circle (a fully licensed next-generation bank with central bank access in Europe) has entered a strategic partnership with Skydo</a> to expand payment options for UK/EU and&nbsp; Australian clients.&nbsp;

In Asia, Skydo uses accounts at DBS Bank (Singapore). For USD payments, Skydo issues accounts via Community Federal Savings Bank (a New York bank). For Canada, it uses Digital Commerce Bank (a regulated Canadian bank), and for Europe/UK, it taps banks like Barclays and other IBAN providers.&nbsp;

In India, Skydo partners with HDFC Bank (one of India’s largest private banks) to reconcile the rupees on the exporter’s side. It even leverages Currencycloud (a Visa company) for multi-currency accounts.&nbsp; In short, every virtual account is held at a major bank – you’re not sending money into thin air, but into real bank rails.

“We’re constantly in search of global rails that make payments faster, cheaper and more compliant,” says Skydo’s CEO Srivatsan Sridhar, about their Banking Circle tie-up.&nbsp; By “rails”, he means real bank accounts and networks. Thanks to these partnerships, US and European buyers pay in dollars or euros as normal. Skydo’s system handles the rest, offering local payment details for multiple currencies in just a few minutes

Beyond the banks, Skydo invests heavily in security and compliance. The platform is ISO 27001 certified and AICPA SOC 2 compliant, meaning it meets top industry standards for data protection and system reliability. All payment data is encrypted in transit and at rest, with strict access controls. Skydo also requires two-factor authentication on logins and continuously monitors for any suspicious activity.

Skydo’s team (with AI-powered tools) actively flags anomalies in real time: every transaction is screened against AML/KYC rules, and any unusual pattern is immediately investigated. As Skydo notes, “if anything seems amiss, we immediately investigate to ensure your data’s integrity and our platform’s security” Put simply, paying via Skydo is as safe as any major bank transfer – probably safer, since their systems are built for secure global flows.

Skydo is also fully approved by regulators. It recently received in-principle authorisation from India’s Reserve Bank (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB) entity. This is the same RBI framework that governs other licensed fintechs such as<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives"> PayPal</a>, <a href="https://www.skydo.com/blog/transferwise-india-features-benefits-pros-cons">Transferwise</a> etc. to process cross-border flows in India; it means Skydo must follow strict rules on transaction security, compliance and audit. In short, RBI has vetted Skydo’s model. By now, Skydo serves over 20,000 Indian exporters and processes hundreds of millions of dollars annually, so your payments become part of a well-established system, not a back-alley workaround.

Key reasons to trust Skydo’s virtual accounts:

In short, paying into a Skydo virtual account is simply a modern, regulated way to move money internationally. It offers the same level of security as wiring to a major global bank, while being far more convenient for both you and the exporter. By using trusted global banks and following global compliance, Skydo makes cross-border invoicing as seamless as domestic payments. The next time an Indian partner asks you to pay via Skydo’s virtual account, you can be confident it’s secure, compliant, and in fact better than the old wire-transfer route.

large_Skydo's virtual accounts

medium_Skydo's virtual accounts

small_Skydo's virtual accounts

thumbnail_Skydo's virtual accounts

Skydo's virtual accounts

Indian exports are booming,&nbsp;<a href="https://utkarsh.com/current-affairs/indian-export-touch-a-historic-high-of-usd-77821-billion-in-2023-24">USD 437 billion</a> in 2023-24. But finding international buyers is still the hard part.

This surge is getting more manufacturers and businesses excited about looking beyond our domestic borders. The government is pushing exports hard; the numbers show it's working. But here's the thing - finding overseas buyers is still an uphill climb, especially for newcomers.

We've been researching this space and talking to actual exporters who've made it work. In this guide, we'll share some lesser-talked-about ways to find buyers for your exports from India, whether you're just starting out or looking to expand your existing business.

Strategies for New Exporters and Businesses to Find Buyers for Goods Exports from India

Finding international buyers is challenging for Indian exporters, especially when starting out. The main issue isn't product quality but building trust and credibility with overseas buyers who don't know you. Most exporters make the mistake of cold emailing random companies or posting on generic B2B platforms, which rarely works. You need smarter, targeted approaches.

Register with FIEO and Your Industry EPC


Start by getting a membership with<a href="https://fieo.org/"> FIEO (Federation of Indian Export Organisations)</a>, which connects you to a network of over 200,000+ Indian exporters. You’ll gain access to buyer-seller meets where vetted global importers come specifically looking for suppliers.

These councils regularly host targeted trade events where you'll meet buyers already interested in your product category, making your outreach focused and meaningful.

Attend introductory events (even the small ones)

Apply for the MAI scheme funding to attend these government-sponsored events where pre-qualified buyers come looking for suppliers:

Research attendee lists beforehand and book meetings in advance. Smaller events often give you more face time with serious buyers.

Optimise your profiles on these platforms where international buyers actively search for Indian suppliers:

Include HS codes, certifications, and export experience in your listings. Respond to inquiries within 6 hours - speed matters to international buyers.

Check website age and government certifications before engaging

Before engaging with any potential buyer, always check how long their website has been active - it tells you how established they are in business. Also, ask for their government certificates and approvals upfront. 

This simple verification step helps you avoid time-wasters and scammers who, unfortunately, target new exporters looking to make their first international sale.

Strategies for Experienced Service SMEs to Find Buyers for Goods Exports from India

Once you've got our export operations up and running, it's time to get smarter and more strategic. The methods that worked when you were starting out need to evolve into data-driven, professional approaches that can scale our business significantly.

Master data-driven targeting with trade databases

Instead of shooting in the dark, let's use actual trade data to identify hot prospects.<a href="https://comtrade.un.org/"> UN Comtrade</a> and<a href="https://www.trademap.org/"> ITC Trade Map</a> are goldmines showing which countries and companies import your product.

&nbsp;For instance, if you export garments, you can see that US textile and apparel imports from India hit <a href="https://www.thehindu.com/business/textile-and-apparel-exporters-suggest-reduction-in-tariff-with-the-us/article69307291.ece#:~:text=In%202024%2C%20the%20U.S.%20T%26A,U.S.%20T%26A%20exports%20to%20India.">$10.8 billion</a> in 2024. But here's the smart part - these databases also reveal which specific companies are importing.

Use Trade Map's company database feature to find actual importer names and contact details. You can filter by country, product category, and import volumes to identify companies that are already buying what you sell, just from other suppliers. This beats cold emailing random companies by miles because you're approaching buyers who have proven demand and budget. The Govt launched a<a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=2191430&amp;utm_source=chatgpt.com"> Trade Intelligence &amp; Analytics (TIA) portal </a>on 18 Nov 2025 to make trade data easier for exporters/MSMEs to use for market discovery and decision-making.&nbsp;Use it to spot countries where demand for your HS code is rising, and shortlist markets before you spend on outreach/travel.”

💡Pro tip: Look for an overseas market where India's share is small but growing, indicating untapped potential for positioning yourself as an alternative supplier. For example, <a href="https://shenglufashion.com/2022/04/20/japanese-fashion-companies-continue-to-diversify-apparel-sourcing-base/#:~:text=Japanese%20fashion%20companies%20primarily%20source,and%20Taiwan%20($92%20million).">Japan</a> traditionally sources textiles heavily from China and Vietnam, creating opportunities for Indian exporters to position themselves as alternative suppliers.&nbsp;

Use buying agents and commission-based partnerships

Here's something that actually works based on real exporters' experience: Instead of chasing every buyer yourself, let local buying agents do the heavy lifting. A successful garment exporter mentioned buying offices that take <a href="https://www.reddit.com/r/IndiaBusiness/comments/1kmetmt/comment/ms9mb4n/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">3-5%</a> commission but handle all the relationship building, saving massive travel and networking costs.

These agents already have established relationships with importers in specific regions. They understand local market preferences, handle negotiations in the buyer's time zone, and can provide market intelligence you'd never get on your own. Look for buying agents through industry directories, trade fairs, or LinkedIn searches for "[your product] buying agent [target country]."

The key is finding agents who specialise in your product category and have a proven track record. Ask for references from other Indian suppliers they represent, and start with non-exclusive agreements until they prove their worth.

Deploy advanced LinkedIn Sales Navigator techniques

Basic LinkedIn isn't enough anymore.<a href="https://business.linkedin.com/sales-solutions/sales-navigator"> LinkedIn Sales Navigator</a> gives you surgical precision in finding procurement managers abroad.&nbsp;

Use Boolean search strings like: "(Procurement OR Sourcing OR "Import Manager") AND (textiles OR apparel) NOT (assistant OR intern)" to find decision-makers in your industry.

The "connections of" filter on Sales Navigator helps you see who your existing clients are connected to in a particular industry. These warm connections are 10x more likely to respond than cold outreach because you have a mutual connection.

Export your leads using tools like<a href="https://evaboot.com/"> Evaboot</a> or<a href="https://prospeo.io/"> Prospeo</a> (which can find email addresses for up to 45% of LinkedIn profiles). Create targeted email sequences through your CRM, mentioning the mutual connection and being specific about why you're reaching out.

Remember geographic targeting, time your messages to land in their inbox during their business hours and use terminology they understand (American English for US buyers, British English for UK buyers).

Partner with complementary businesses for larger opportunities

Instead of competing alone, team up with other Indian exporters to bid for large contracts that no single company can handle. This is especially effective for government tenders or large corporate contracts where buyers need huge volumes or multiple product categories.

Create formal consortia with complementary businesses. Partner with accessory manufacturers, packaging companies, or logistics providers if you export textiles. This lets you offer complete solutions rather than just products, which buyers increasingly prefer.

Document these partnerships properly and present them professionally in your pitches. Large buyers love dealing with consortia because it reduces their vendor management overhead while ensuring consistent supply.

What are The Modern Digital Discovery Channels to find Overseas Clients for your Goods Exports?

Digital discovery has completely changed the game for exporters. You are no longer limited to trade fairs and cold calls - now you can identify, conduct market research, and connect with international buyers from our desks.&nbsp;

But here's the thing: everyone's doing "digital outreach" now, so you need to be smarter about it.

Apart from leveraging the LinkedIn Sales Navigator features, you can also do the following on this platform:&nbsp;

Smart cold outreach that doesn't feel cold

Traditional cold emailing has a 1-2% response rate, but personalized, research-backed outreach can hit 15-20%. The key is making it not feel cold at all.

Social media platforms beyond the obvious

As your digital outreach grows, you need systems to manage it all. Use a CRM like<a href="https://www.zoho.com/crm/"> Zoho</a> (India-made),<a href="https://www.hubspot.com/"> HubSpot</a> (free version available), or<a href="https://www.pipedrive.com/"> Pipedrive</a> to track every interaction.

The key to modern digital discovery is being systematic, not scattered. Pick 2-3 channels, master them completely, then expand. Quality beats quantity every time in international business.

Government Platforms and Schemes to help find overseas clients

The government runs several platforms and schemes to help exporters find overseas buyers, though they're spread across different departments and can be confusing to navigate.

Trade Connect e-Platform: The government's "ChatGPT for exporters"

DGFT's<a href="https://www.trade.gov.in/"> Trade Connect portal</a> launched in 2024, is what Commerce Minister Piyush Goyal calls "ChatGPT for our exporters." This isn't just another government website - it's a single dashboard that connects over 6 lakh IEC holders with 180+ Indian Mission officials and 600+ Export Promotion Council officials.