The Export Promotion Councils have been set up under the Indian Companies Act 1956, as non-profit organizations. The Government of India, through the Ministries of Commerce and Industries, has established an integrated structure for servicing and promoting exports. It provides guidance, information and assistance to exporters. These are organizations specialized in a particular product or a group of products. Their [...]
In India and many other countries the following steps are generally involved in the procedure of exports: 1. Quotation and Indent 2. Shipping and Credit Enquiry 3. Preparations for Export 4. Customs and Exchange Formalities 5. Placing the Goods On-Board the Ship 6. Mate's Receipt 7. Marine Insurance 8. Bill of Lading 9. Shipping Documents 10. Securing Payment 11. Export [...]
In this article we will discuss about the mechanism of financial assistance for promoting exports. Exporters may avail pre-shipment credit, post-shipment credit, term loans, suppliers' credit and buyers' credit. 1. Pre-Shipment Credit: Also known as packing credit, it is a loan given by a financial institution (either a commercial bank, or an Exim bank) to the exporter before shipment of [...]