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