Question:
Explain different organizations involved in export promotion or facilitating foreign trade.
Answer:
Following institutions help in promoting exports or facilitating foreign trade.
- Department of Commerce: It is under Ministry of Commerce, Government of India. It is the apex institution responsible for the country's external trade and all matters connected with it. It formulates policies for foreign trade. It also formulates export and import policy of the country.
- Export Promotion Council (EPC): These are non-profit organizations which are registered with either Companies Act or Societies Registration Act. They aim at promoting and developing the country's exports of particular products falling under their jurisdiction.
- Commodity Boards: Commodity boards are the boards established by Indian Government for development of production of traditional commodities and their products. There are 7 boards at present.
- Export Inspection Council (EIC): It was established under Export Quality Control and Inspection Act, 1963 which aims at sound development of export trade using quality control and pre-shipment inspection.
- Indian Trade Promotion Organization (ITPO): It was set up on 1 January, 1992 under the Companies Act, 1956 by the Ministry of Commerce. It is a service organization and maintains regular and close interaction with trade, industry and Government. It has five regional offices in Mumbai, Bangalore, Kolkata, Kanpur and Chennai and four international offices in USA, Germany, Japan and UAE.
- Indian Institute of Foreign Trade (IIFT): It was set up in 1963 as an autonomous body registered under the Societies Registration Act with the prime objective of professionalising the country's foreign trade management.
- Indian Institute of Packaging (IIP): It was set up in 1966. It is a training cum research institute pertaining to packaging and testing. It caters to packaging needs with regard to both the domestic and export market. Its headquarters are in Mumbai and it has three regional offices in Kolkata, Delhi and Chennai.
- State Trading Organizations: It was established in May, 1956. Its main aim is to stimulate trade primarily export trade among different trading partners of the world. Under it more organizations were set up later like Metals and Minerals Trading Corporation (MMTC) and Handloom and Handicrafts Export.
International Business II
Q 1.
List various affiliated bodies of World Bank.
Q 2.
Name any two WTO Agreements.
Q 3.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 4.
What is Advance License Scheme?
Q 5.
Discuss the process involved in securing for exports.
Q 6.
Explain the meaning of the following documents used in connection with import transactions
- Trade enquiry,
- Import license,
- Shipment of advice,
- Import general manifest,
- Bill of entry.
Q 7.
When was State Trading Corporation established?
Q 8.
What is Shipping Bill?
Q 9.
Name the most important document of export.
Q 10.
What was the objective of MIGA?
Q 11.
What is the main objective of WTO?
Q 12.
Name the most important document used in import.
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
Define Mate's Receipt.
Q 15.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 16.
Why is export promotion necessary?
Q 17.
List out major affiliated bodies of the World Bank.
Q 18.
Which certificate is necessary to prove that goods are produced in the home country itself ?
Q 19.
Define Export Processing Zones.
Q 20.
When was IIFT formed?
Q 21.
Write the full form of ICSID.
Q 22.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 23.
Give full form of EPZ and SEZ.
Q 24.
Rekha Garments has received an order to export 2000 men's trousers to Swift Imports Ltd. located in Australia. Discuss the procedure that Rekha Garments would need to go through for executing the export order.
Q 25.
Santa Cruz is famous for which exclusive items?
Q 26.
What is pre-shipment finance?
Q 27.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 28.
Write the full form of DTA.
Q 29.
What is IEC number?
Q 30.
Identify various organizations that have been set up in the country by the government for promoting country's foreign trade.
Q 31.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 32.
Name the certificate which is used for ensuring timely payment.
Q 33.
How many regional and international offices does ITPO have?
Q 34.
How many Commodity Boards are there in India?
Q 35.
Explain the steps of export procedure.
Q 36.
Explain briefly the process of customs clearance of export goods.
Q 37.
Explain the term FOB.
Q 38.
What is a Letter of Credit? Why does an exporter need this document?
Q 39.
What is IMF? Discuss its .various objectives and functions.
Q 40.
Explain the term FOB.
Q 41.
Why is it necessary to get registered with an Export Promotion Council?
Q 42.
Who is a clearing agent?
Q 43.
Which agency of World Bank provides loan to private sector of developing countries?
Q 44.
Discuss the procedure related to excise clearance of goods.
Q 45.
Who is a clearing agent?
Q 46.
What is the purpose of pre-shipment finance?
Q 47.
Discuss the process involved in securing for exports.
Q 48.
Discuss the formalities involved in getting an export license.
Q 49.
What is Performa Invoice?
Q 50.
Discuss the principal documents used in exporting.
