WHY TO DO IMPORT & EXPORT
Exports and imports are important for the development and growth of national economies because not all countries have the resources and skills required to produce certain goods and services. Nevertheless, countries impose trade barriers, such as tariffs and import quotas, in order to protect their domestic industries.
1. Earning more profits.
2. Earning benefits & incentives from the governments.
3. Earning foreign currencies for our country.
WHO CAN DO IMPORT & EXPORT
1) ANY BUSINESSMAN : Any small and medium-size business can do business at the international level. Agricultural product, cloth product, hardware & software items manufacturers & suppliers etc ….
2) ANY PROFESSIONAL : Any professional such as CA (Charted Accountant), CS (Company Secretary), Accountants, Teachers, Trainers, Doctors etc ….. All of them can give their services abroad.
3) ANY EMPLOYEES : Some employees always want to do your business whether it is domestic or international. Working staff can also start their own business by doing legal paperwork of their company shell. If they have been working in the Employee Export Import Company, then there will be more problems in exporting import business. They can do business of their services & products all over the world.
4) ANY STUDENTS : Any students such as agricultural students, pharmacist students, commerce students, arts students, science students, management students can start their XIM business (services) with studies. Learning to learn can make learning Earning.
5) ANY WOMANS : Any educated or less educated woman can do Exim Business in Product or Services.They get good support from the government, so they can do their own Exim business and can do international trade in collaboration with anyone.
EXPORT IMPORT STATISTICS
India All Products Exports and Imports
India services export is 185,294,014,276.93 in BoP, current US$ and services import is 109,371,141,905.17 in Bop, current US$.India exports of goods and services as percentage of GDP is 19.05% and imports of goods and services as percentage of GDP is 22.03%.
METHODS OF INTERNATIONAL TRANSPORT
Road, sea, rail and air are four ways of import and export.
1. AIR TRANSPORT FOR INTERNATIONAL TRADE :
= Freight transport is the physical process of transporting commodities and merchandise goods and cargo.
2.SEA TRANSPORT FOR INTERNATIONAL TRADE :
= Any movement of goods and/or passengers using seagoing vessels on voyages which are undertaken wholly or partly at sea. Context: One port transport(movements of goods shipped to offshore installations, or for dumping at sea, or reclaimed from the sea bed and unloaded in ports) is included.
3. ROAD TRANSPORT FOR INTERNATIONAL TRADE :
= Road transport meanstransportation of goods and personnel from one place to the other on roads.Road is a route between two destinations, which has been either paved or worked on to enabletransportation by way of motorised and non-motorised carriages.
4. RAIL TRANSPORT FOR INTERNATIONAL TRADE :
= Rail freight transport is the use of railroads and trains to transport cargoas opposed to human passengers.Rail freight practices and economics vary by country and region.
5. what is incoterms :
= Incoterms. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the global or international transportation and delivery of goods.
INCOTERMS RULES 2010 FOR ANY MODE(S) OF TRANSPORTATION
🔺Ex works (EXW)
🔺Free carrier (FCA)
🔺Carriage paid to (CPT)
🔺Carriage and insurance paid to (CIF)
🔺Delivery at terminal (DAT)
🔺Delivery at place (DAP)
🔺Delivery duty paid (DDP)
INCOTERMS RULES FOR SEA AND INLAND WATERWAY TRANSPORTATION
🔸FREE ALONGSIDE SHIP (FAS)
🔸🔸FREE ON BOARD (FOB)
🔸🔸🔸COST AND FREIGHT (CFR)
🔸🔸🔸🔸COST INSURANCE AND FREIGHT (CIF)