Understanding Marine Insurance Marine Insurance is a risk protection mechanism in export–import trade that covers loss or damage to goods during transit by sea, air, or land. It safeguards exporters, importers, and banks against financial loss arising from accidents, theft, fire, or natural calamities.The coverage operates in line with the transit and risk transfer defined under… Read More »
Export promotion plays a vital role in driving economic growth and enhancing international trade. Governments establish Export Promotion Councils (EPCs) to support and facilitate export activities, which act as intermediaries between the government and the export industry. In this article, we will explore the meaning of export promotion, the role, and functions of Export Promotion… Read More »
India is the 19th largest exporter in the world, and its exports for 2017 totaled $302.2 billion. The 10 largest export categories account for about three-quarters (75.7%) of total Indian shipments. India’s total exports in 2017 stood at $302.2 billion. In 2017, India’s total exports stood at $302.2 billion. The country exported goods worth $300… Read More »
Proforma invoice is a negotiating tool used by the exporter and his/ her international buyer. Although a voluntary document, almost all the exporters and importers adopt it. It is considered as a BLUE print of the export import process and is a pre- advice invoice (document). They are valid for a particular time slot… Read More »
Import export business is not just a business but it is an opportunity for entrepreneurs and opportunists who are actually willing to enter the international trade industry. Slowly but gradually, the Indian import export business is increasing, resulting in higher GDP for the country. It can be considered a lucrative market and in the new… Read More »