International trade is referred to as the transfer of goods and services between countries. It is the trade between the residence of two countries or various countries. When the trade is conducted within the territorial boundary of one country, it is known as domestic trade. The basic principles are the same for all trades.
India’s import and export system is governed by Foreign Trade Development and Regulation Act 1992 and India s EXIM Policy. Imports and exports of goods are free, except for the items regulated by EXIM policy or any other Law currently in the course. The customs will not allow for clearance of goods unless the importer obtained Import Export Code. Exports are a whittle part of any economy.
The supply of goods or items from one’s own country to other countries is referred to as export whereas procuring products or goods from other countries to own country is known as import. Owing to the rapid progressions in the global market, new trends are introduced in trading. And thanks to technology, trading in different countries has become easier nowadays. Over the years, the import-export market has gone through a major transformation.
It opens up a door of excellent opportunities for the candidates who yearns to be a part of the import-export business. It offers an enormous scope in import-export management in Trading Houses, Development, Export Processing Zones, Marine Insurance Companies, Export Promotion Councils and Export Oriented Units with other such fields and organizations, Export Department of Companies, Authorities & Commodity Boards.
Here are the crucial aspects of the course scenario of Export and Import Management:
It provides insight on certain concepts like competitive global strategies; Rewards in the Business Strategy of Import and Export; the chief Trade statistics and import-export trends in other continents and topmost countries.
The theory of export; the fundamentals of sustainable exporting; completion in the export field, common issues faced in the export process; assessment of foreign distributors for export; dangers involved in exporting; the crucial things for the triumph of any export business; complications related to insurance and risks; documentation in the procedure of exports.
The concept and procedure of import; the fundamentals of sustainable importing; the exact way of how to manage the global supply chain; the latest facts and info about foreign exchange and logistics; prerequisites in the importing business; frequent concerns faced in the import procedure; documentation in the procedure of import.
It is all about how to choose a sustainable market of exports and imports globally; trade barriers created by tariff and non-tariff; knowledge about agreement, evaluating the changing market trend; understanding the opportunities available in the global market; the hurdles and hindrances in the exports and imports business.
Understanding and developing alternative channels to make a position in the global market and to increase one’s sales channels; how to choose and associate channels and agencies and tie-up with them for delivery of goods; how to develop one’s market presence through the supply channels; EXIM policy framework.
Giving information related to the procedure of shipping; how to manage the documents, costs, landed costs, brokers; information about the basic difficulties linked in export distribution; how to administer inventory for import and export; packaging matter and problems associated with export and import; information related to shipping glossary; General Provision of Import, Import restrictions.
It contributes knowledge on how to recognize the right people and place for progressing the export-import business; specifics about concerns related to agents, packaging, insurance, brokers, customs, warehouse management, port, and trading zones.
How to comprehend and estimate competitiveness in costing; how to ensure timely payment of receipt; particulars about pricing, place in the international market, credit terms & guidelines and credit risks; details regarding the payment terms, taxes, interest rates, banking, inflation; Foreign Buyer LC Instructions.
How to formulate innovative as well as competitive strategies; management of distributors, costing, inventory, discount and documentation; the way to build long-lasting relations with clients. The student who wishes to take up this course and training must have completed Plus Two. A person with an MBA degree or merchandise diploma or degree will be an added advantage.