Exports are vital to any economy, be it developed or developing. No country can isolate itself from exports in some form or other. Export performance is one of the main economic parameter of a nation. However, exports all over the world face tough challenges than before and Indian exporters are no exception. There is rapid expansion in the international market activities since the end of 2nd world war. The world export trade is increasing by leaps and bound. Due to exports countries have come closer for economic, cultural and social co-operation. International Marketing offers benefits to all participating countries. The need and importance of export marketing can be explained from the viewpoint of a country and that of a business organization. In order to maintain a healthy balance of trade and foreign exchange reserve it is necessary to have a sustained and high rate of growth of exports. Export can be defined as "sale of goods and services from one country."
According to B.S. Rathor, "Export Marketing includes the management of marketing activities for products which cross the national boundaries of a country."
Export marketing involves the design of the products and services acceptable to the overseas customers and the conduct of those activities, which facilitate the transfer of ownership of goods and services from the seller of one country to the buyer of another country. Export helps country to earn valuable foreign exchange, which is mainly required to pay for import of capital goods, raw materials, spares and components.
[...] In India, Export Inspection Council (EIC) was set up by the Government of India in order to ensure sound development of export trade of India through Quality Control and Inspection and for matters connected thereof. EIC plays an important role in raising quality standards of export commodities and also in creating goodwill for Indian goods abroad Transport Documents: a. Bill of Lading On loading the cargo on board the exporter get mate's receipt which is temporary receipt for the cargo loaded. [...]
[...] ABROAD ( BUYER OF THAT COUNTRY) LINES OF CREDIT EXIM Bank extends lines of credit to overseas governments/agencies nominated by them or financial institutions overseas to enable buyers in those countries to import capital/engineering goods, industrial manufactures and related services from India on deferred payment terms. This facility enables importers in those countries to import from India on deferred credit terms as per the terms and conditions already negotiated between EXIM Bank and the overseas agency. The Indian exporters can obtain payment of eligible value from EXIM Bank against negotiation of shipping documents, without recourse to them. [...]
[...] and full repatriation of foreign exchange will take place to our country FREE TRADE & WAREHOUSING ZONES Objective: The objective is to create trade-related infrastructure to facilitate the import and export of goods and services with freedom to carry out trade transactions in free currency. The scheme envisages creation of world-class infrastructure for warehousing of various products, state-of-the-art equipment, transportation and handling facilities, commercial office-space, water, power, communications and connectivity, with one-stop clearance of import and export formality, to support the integrated Zones as ‘international trading hubs'. [...]
[...] The financial assistance is available for Export Promotion Councils, Industry and Trade associations , Agencies of State Governments , Indian Commercial Missions abroad and other eligible entities as may be notified from time to time,. A whole range of activities can be funded under the MAI scheme. These include market studies, setting up of showroom/ warehouse, sales promotion campaigns, international departmental stores, publicity campaigns, participation in international trade fairs, brand promotion, registration charges for pharmaceuticals and testing charges for engineering products etc. [...]
[...] Where the exporter asking for the PCL is a sub-supplier and wants to supply the goods to the Export / Trading / Super Star Trading House stating that they have not / will not avail themselves of packing credit facility against the same transaction for the same purpose till the original packing credit is liquidated. iv. Letter of hypothecation, partnership deed in case of partnership firm or Memorandum of Association, Articles of Association for public/private business. v. Audited reports of past 3/5 years. [...]
Online readingwith our online reader
Content validatedby our reading committee