Page 69 - IILMGSM Journal_Management Perspective
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ia has also played an important part in the To develop guidelines, principles and
effective formulation of major trade policies. By policies
being a member of WTO several countries is now
trading with India, thus giving a boost to production, To help exporters develop particular
employment, standard of living and an opportunity to products and commodities for export; and
maximize the use of the world resources. In such
scenario in India, companies need to formulate their To establish laws for the smooth running of
business strategy based on exporting and importing in international business.
a systematic way that increases profit and reduce
cost. Special Focus Market Group
After economic liberalization in the early 1990s, To offset high freight cost and other externalities to
companies in countries India began to feel the pinch select international markets with a view to enhance
of international competition and in order to retain India's export competitiveness in select countries,
their share in domestic market, they started investing “Focus Market Scheme (FMS)” has been launched
in quality improvement programmes, supply chain w.e.f. 01.04.2006. Exporters of all products to
initiatives etc. The resultant superior products and notified countries shall be entitled for Duty Credit
competitive prices opened the doors of the world Scrip equivalent to 3% of FOB Value of exports.
market for goods and services. The government at the
same time has started according importance to It has been decided to introduce a Special Focus
infrastructure development which has resulted in Market Scheme (SFMS) w.e.f. 01.04.2011 with a
building better roads, privatization of ports, view to increase the competitiveness of exports with
increasing the numbers of international ports to a geographical targeting. The scheme would provide
support the export-import trade. additional 1 % duty credit when exports are made to
these countries. This duty credit is over and above the
There are many organizations in the public sector that duty credit granted under FMS i.e. if a item covered
aim to facilitate international trade in India, such as under FMS is exported to the countries listed under
the Directorate General of Foreign Trade (DGFT), SFMS, then the total duty credit available would be
Export Promotion Councils (EPC) etc. Their @ 4%.
objectives broadly are: Venezuela’s Interest to Trade with India
Venezuelan officials and diplomats have
To stimulate and support export efforts in communicated to our foreign minister that Venezuela
the country; is keen to have more investment from India in
petroleum sector. An India-CELAC Business Council
To establish and develop incentives/schemes and Chief Executive Officers Forum was set up to
to enable self-sustenance in the international promote trade and investment ties between India and
market; the Community of Latin American and Caribbean
States. A recent statement issued expressing
satisfaction over the trade relations between India and
68
effective formulation of major trade policies. By policies
being a member of WTO several countries is now
trading with India, thus giving a boost to production, To help exporters develop particular
employment, standard of living and an opportunity to products and commodities for export; and
maximize the use of the world resources. In such
scenario in India, companies need to formulate their To establish laws for the smooth running of
business strategy based on exporting and importing in international business.
a systematic way that increases profit and reduce
cost. Special Focus Market Group
After economic liberalization in the early 1990s, To offset high freight cost and other externalities to
companies in countries India began to feel the pinch select international markets with a view to enhance
of international competition and in order to retain India's export competitiveness in select countries,
their share in domestic market, they started investing “Focus Market Scheme (FMS)” has been launched
in quality improvement programmes, supply chain w.e.f. 01.04.2006. Exporters of all products to
initiatives etc. The resultant superior products and notified countries shall be entitled for Duty Credit
competitive prices opened the doors of the world Scrip equivalent to 3% of FOB Value of exports.
market for goods and services. The government at the
same time has started according importance to It has been decided to introduce a Special Focus
infrastructure development which has resulted in Market Scheme (SFMS) w.e.f. 01.04.2011 with a
building better roads, privatization of ports, view to increase the competitiveness of exports with
increasing the numbers of international ports to a geographical targeting. The scheme would provide
support the export-import trade. additional 1 % duty credit when exports are made to
these countries. This duty credit is over and above the
There are many organizations in the public sector that duty credit granted under FMS i.e. if a item covered
aim to facilitate international trade in India, such as under FMS is exported to the countries listed under
the Directorate General of Foreign Trade (DGFT), SFMS, then the total duty credit available would be
Export Promotion Councils (EPC) etc. Their @ 4%.
objectives broadly are: Venezuela’s Interest to Trade with India
Venezuelan officials and diplomats have
To stimulate and support export efforts in communicated to our foreign minister that Venezuela
the country; is keen to have more investment from India in
petroleum sector. An India-CELAC Business Council
To establish and develop incentives/schemes and Chief Executive Officers Forum was set up to
to enable self-sustenance in the international promote trade and investment ties between India and
market; the Community of Latin American and Caribbean
States. A recent statement issued expressing
satisfaction over the trade relations between India and
68
