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.
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 4.
Discuss the process involved in securing for exports.
Q 5.
What is Advance License Scheme?
Q 6.
What was the objective of MIGA?
Q 7.
What is Shipping Bill?
Q 8.
Name the most important document of export.
Q 9.
Write short notes on the following:
- UNCTAD
- MIGA
- World Bank
- ITPO
- IMF
Q 10.
Write a detailed note on features, structure, objectives and functioning of WTO.
Q 11.
List out major affiliated bodies of the World Bank.
Q 12.
Name the most important document used in import.
Q 13.
How many Export Promotion Councils are there in India?
Q 14.
What is the main objective of WTO?
Q 15.
When was State Trading Corporation established?
Q 16.
Why is export promotion necessary?
Q 17.
Define Export Processing Zones.
Q 18.
What is pre-shipment finance?
Q 19.
Why is it necessary for an export firm to go in for pre-shipment inspection?
Q 20.
Explain the term FOB.
Q 21.
Explain briefly the process of customs clearance of export goods.
Q 22.
Explain the meaning of Mate's Receipt.
Q 23.
Discuss the principal documents used in exporting.
Q 24.
Write short note on Indent House and Dock Challan.
Q 25.
Write the full form of ICSID.
Q 26.
Santa Cruz is famous for which exclusive items?
Q 27.
List and explain various incentives and schemes that the government has evolved for promoting the country's foreign trade.
Q 28.
Why did WTO establish? What are its objectives?
Q 29.
Explain different organizations involved in export promotion or facilitating foreign trade.
Q 30.
Explain the steps of export procedure.
Q 31.
What is a Letter of Credit? Why does an exporter need this document?
Q 32.
Name the certificate which is used for ensuring timely payment.
Q 33.
Discuss the formalities involved in getting an export license.
Q 34.
Discuss the principal documents used in exporting.
Q 35.
Which agency of World Bank provides loan to private sector of developing countries?
Q 36.
What is IMF? Discuss its .various objectives and functions.
Q 37.
Give full form of EPZ and SEZ.
Q 38.
Who is a clearing agent?
Q 39.
Why is it necessary to get registered with an Export Promotion Council?
Q 40.
What is IEC number?
Q 41.
Discuss the process involved in securing for exports.
Q 42.
What is Performa Invoice?
Q 43.
How many Commodity Boards are there in India?
Q 44.
How many regional and international offices does ITPO have?
Q 45.
What is Bill of Lading? How does it differ from bill of entry?
Q 46.
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 47.
What is World Bank? Discuss its various objectives and role of its affiliated agencies.
Q 48.
What is the purpose of pre-shipment finance?
Q 49.
Your firm is planning to import textile machinery from Canada. Describe the procedure involved in importing.
Q 50.
Which certificate is necessary to prove that goods are produced in the home country itself ?
