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Ppt 03 import &export

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Ppt 03 import &export

  1. 1. EXPORT IMPORT AND EXIM POLICY submitted by: Ashutosh kumar (c)ashutosh kumar 1
  2. 2. CONTENTS: Definition Types of export Role of govt in export Export/import process Export/import financing Exim policy Comparison of trade policy India’s Exim policy 2009-14 Objective of india’s Exim policy Balance of trade Bibliography 2 (c)ashutosh kumar
  3. 3. DEFINITION The term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country  The seller of such goods and services is referred as an "exporter" who is based in the country of export Whereas the overseas based buyer is referred to as an "importer" 3 (c)ashutosh kumar
  4. 4. CONTD.  In International Trade, "exports" refers to selling goods and services produced in the home country to other markets  Exporting is the most popular way for companies to become international  Exporting is usually the first mode of foreign entry used by companies 4 (c)ashutosh kumar
  5. 5. CONTD.  Selling to foreign markets involves numerous high risks, arising from a lack of knowledge about and unfamiliarity with foreign environments, which can be heterogeneous, sophisticated, and turbulent  Manufactured goods accounted for almost 60 percent of the exports of developing countries 5 (c)ashutosh kumar
  6. 6. TYPES OF EXPORT Direct export Indirect export Direct exporting occurs when a manufacturer or exporter sells directly to an importer or buyer located in a foreign market Indirect exporting involves the use of independent middlemen(brokers, bank) to market the firm’s products overseas 6 (c)ashutosh kumar
  7. 7. DIRECT EXPORT/IMPORT 1. Importer Pays for Goods indian Importer American Exporter 2. Exporter Ships Goods After Being Paid 7 (c)ashutosh kumar
  8. 8. A TYPICAL INTERNATIONAL TRANSACTION 1. Importer Orders Goods 3. Importer 2. Exporter Agrees to Fill Order American Exporter french Importer 6. Goods Shipped to France 10 and 11 Exporter 7. Exporter Sells Presents Draft to Draft to Bank Bank 14. B of NY Presents Matured Draft and Gets Payment 12. Bank Tells Importer Documents Arrive 13. Importer Pays Bank Bank of New York Bank of paris Arranges for LOC 8. B of NY Presents Draft to Bank of Paris 9. Bank of Paris Returns Accepted Draft 4. Bank of Paris Sends LOC to B of NY 5. B of NY Informs Exporter of LOC 8 (c)ashutosh kumar
  9. 9. Composition of India’s Exports Agricultural & Allied Products Ores & Minerals Manufactured Items Fuel & Lubricants 9 Composition of India’s Imports Petroleum Products Capital Goods Pearls & Precious Stones Iron & Steel (c)ashutosh kumar
  10. 10. ROLE OF THE GOVERNMENT IN PROMOTING EXPORTS  Export promotion activities generally comprise: 1.export services programs 2.market development program  Export-import bank tariff concessions 1.foreign trade zones 2.foreign sales corporation(FSC) (c)ashutosh kumar 10
  11. 11. EXPORT PROCESSES Evaluate export potential  financial resources  management capability/experience  competitive advantages abroad Do country analysis (more later)  country receptiveness to imports and investment  trade barriers/requirements  infrastructure (c)ashutosh kumar 11
  12. 12. CONTD. Do market analysis  market size/product potential  distribution channels Determine entry method  goal of entry  select distribution “partner”  determine channel length  assess risks (c)ashutosh kumar  determine costs 12
  13. 13. SOURCES OF EXPORTER FINANCING Financing exporter credit to the importer: - Bankers’ acceptance (of the draft) - Factoring - Forfeiting - EXIM bank (c)ashutosh kumar 13
  14. 14. PROCEDURES OF EXPORT AND IMPORT TRANSACTION General Procedures of Export Transaction: Preparation for Exporting Business Negotiation Implementation of Contract Settlement of Disputes (c)ashutosh kumar 14
  15. 15. EXPORT/IMPORT FINANCING  Letters of Credit (LOC)  Bank guarantee on behalf of importer to exporter assuring payment when exporter presents specified documents  Drafts (Bill of Exchange)  Written order by exporter, telling an importer to pay a specified amount of money at a specified time.  Bill of Lading  Issued to exporter, by carrier. Serves as receipt, contract and document of title. (c)ashutosh kumar 15
  16. 16. WHAT IS EXPORT IMPORT POLICY (EXIM POLICY)?  Export Import (Exim) Policy or Foreign Trade Policy (FTP) is a set of guidelines and instructions in matters related to the import and export of goods in India.  Established by the Directorate General of Foreign Trade (DGFT)  Regulated by The Foreign Trade Development and Regulation Act 1992 (c)ashutosh kumar  Exim policy contains various policy decisions with respect to import and exports of the country.  Prepared and announced by the central government.  Aim  Developing export potential  Improving export performance  Encouraging foreign trade  Creating favorable balance of payment position. 16
  17. 17. CONTD.  Trade Policy will strongly influence the direction, trend and growth of foreign trade of a country  Industrialisation and self-sufficiency in essential commodities were the important objectives of India's trade policy  trade policy is an important economic instrument which can be used by a country, with suitable modifications from time to time, to achieve its long-term objectives  Trade Policy can be free trade policy or protective trade policy (c)ashutosh kumar 17
  18. 18. COMPARISON OF TRADE POLICY FREE TRADE POLICY PROTECTIVE TRADE POLICY  A free trade is one which does not impose any restriction on the exchange of goods and services between different countries.  A free trade policy involves complete absence of tariffs, quotas, exchange restrictions, taxes and subsidies on production, factor use and consumption.  A protective trade policy pursued by a country seeks to maintain a system of trade restrictions with the objective of protecting the domestic economy from the competition of foreign products.  Many of the underdeveloped countries continue to have protective trade policies even today. (c)ashutosh kumar 18
  19. 19. INDIA'S EXIM POLICY 2009-2014 The Union Commerce Ministry, Government of India announces the Export Import policy in every five year. This is also called EXIM policy. This policy is updated every year with some modifications and new schemes. New schemes come into effect on the first day of financial year i.e. April 1, every year. The Foreign trade Policy which was announced on August 28, 2009 is an integrated policy for the period 2009-14. This policy is updated on every financial year. 19 (c)ashutosh kumar
  20. 20. OBJECTIVES OF EXIM POLICY 2009- 2014  To arrest and reverse declining trend of exports which will be reviewed after every two years.  To Double India's exports of goods and services by 2014.  To double India's share in global merchandise trade by 2020 (long term aim). India's share in Global merchandise exports was 1.45% in 2008.  Simplification of the application procedure for availing various benefits.  To set in motion the strategies and policy measures which catalyze the growth of exports. (c)ashutosh kumar 20
  21. 21. INDIA'S FOREIGN TRADE IN JUNE 2012  Exports: India’s exports through June 2012 were valued at US$29.21 billion, which was 46.45 percent superior to the level of US$19.94 billion seen in June 2011. On an expanded timeframe, the growing value of exports for the period April-June 2011-12 was US$79.00 billion against US$54.22 billion over the same period a year earlier – good for a 45.71 percent increase.  Imports: India’s imports for the duration of June 2012 came to US$36.87 billion, showing a growth of 42.46 percent over the level of imports valued at US$25.88 billion in June 2011. An increasing value of imports for the interval of April-June 2011-12 was US$110.61 billion as against US$81.20 billion over the same period in 2010 – good for a 36.22 percent increase. (c)ashutosh kumar 21
  22. 22. 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Foreign Trade Trends in India 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 Export Import (c)ashutosh kumar 22
  23. 23. BALANCE OF TRADE  Balance of trade = Exports - Imports  A positive balance of trade is known as a trade surplus  A negative balance of trade is known as a trade deficit or, informally, a trade gap.  India reported a trade deficit equivalent to 7659 Millions USD in June of 2011.  India is poor in oil resources and is currently heavily dependent on coal and foreign oil imports for its energy needs.  Other imported products are: machinery, gems, fertilizers and chemicals. (c)ashutosh kumar 23
  24. 24. 24 INDIA’S BOT (January 2009 – July 2011) (c)ashutosh kumar
  25. 25. ANY QUERY? 25 (c)ashutosh kumar
  26. 26. BIBLIOGRAPHY Wikipedia Official website of Indian export-import portal  Internet  Oxford dictionary (c)ashutosh kumar 26
  27. 27. THANKING YOU THANKING YOU (c)ashutosh kumar 27

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