TOPIC OF THE STUDY EXPORT PROCEDURE IN INTERNATIONAL MARKET REFERENCE TO AKBAR CORPORATION LIMITED IN MORADABAD UP SUBMITTED TO: SUBMITTED BY: MRS ANUMEHA MAM MO.SHARIQ ( LIM) R.No.RT1902A25
OBJECTIVE OF THE STUDY
WHAT PROCEDURE OF THE EXPORT
IN INERNATIONAL MARKET IN AKBAR CRPORATION LIMITED.
HOW TO EXPORT IN FOREIGN
Manufacturing product of ACL
WROUGHT IRON FURNITURE
ALLUMINIUM FRUIT BOWL
ARMOUR(HUMAN BODY SHAPES)
DECORATIVE ASSOCERIES OF BRASS
IMAGES OF PRODUCT PRODUCTS-
MARKET AREA OF EXPORT PRODUCT
IMPORT EXPORT CODE (IEC) ISSUED BY DGFT
DGFT, which is headed by the Director General of Foreign
The office of the DGFT is responsible for formulating and
execution of Foreign Trade Policy, including licensing.
DGFT is responsible for implementing the Foreign Trade
Policy with the main objective of promoting exports
To regulate and keep check on international trade, DGFT
An IEC holder can only do the international trade,
IEC Code is unique 10 digit code issued by DGFT
IEC Code No Notification
DGFT issued a Policy Circular No.15 (RE
2006)/2004-2009 Date: 27th July, 2006) for New System for issuance of IEC Number.
An application for grant of IEC number shall be
made by the Registered/Head Office of the applicant and apply to the nearest Regional Authority of DGFT, the Registered office in case of company.
LETTER OF PERMISSION (LOP)
Letter of permission issued by the Development Commissioner
of SEZ to the unit is itself a licence
EOU get detail of business which unit can undertake in LOP
LOP may also be used for the procurement of the items like
furnace oil from authorized oil companies and cannot be directly imported by the export oriented units.
All the Export Oriented Units in India need to conduct its
operations under the supervision of the Customs and Central Excise Department.
For this purpose, EOU has to sign a multipurpose bond
with the jurisdictional Deputy Commissioner of Customs and Central Excise at the time of commencement of the unit.
The bond is submitted in a prescribe format along with the
copy of EOU project report and Letter Of Permission (LOP) to the Deputy Commissioner’s Office in the zone.
HOW TO EXPORT IN INTERNATIONAL MARKET
SELLING IN EXPORT
ON TIME DELIVERIES
PRELIMINARIES FOR STARTING EXPORT BUSINESS-Selecting the markets Target markets should be selected after careful consideration of various factors like scope of exporter's selected product, demand stability, preferential treatment to products from developing countries, market penetration by competitive countries and products, distance of potential market, transport problems, language problems, tariff and non-tariff barriers, distribution infrastructure, size of demand in the market, expected life span of market and product requirements, sales and distribution channels.
Selecting prospective Buyers
Enquiries from friends and relatives or other acquaintances
residing in foreign countries.
Visiting/ participating in International Trade Fairs and
Exhibitions in India and abroad.
Contact with the Export Promotion Councils, Commodity
Boards and other Government Agencies.
Selecting channels of distribution
Exports through Export Consortia.
Export through Other Established Merchant
Exporters or Export Houses, or Trading Houses, Canalising agency .
Export through Overseas Sales Agencies
Processing an Export order
You should not be happy merely on receiving an export
You should first acknowledge the export order, and then
proceed to examine carefully in respect of items, specification, reshipments inspection, payment conditions, special packaging, labelling and marketing requirements, shipment and delivery date, marine insurance, documentation etc.
If you are satisfied on these aspects, a formal confirmation
should be sent to the buyer, otherwise clarification should be sought from the buyer before confirming the order.
Entering into an Export contract
Product, Standards and Specifications
Terms of Delivery
Period of Delivery/Shipment
Packing, Labelling and Marking
Discounts and Commissions
Licenses and Permits
EXPORT PRICING AND COSTING
Export pricing should be differentiated from export costing.
Price is what we offer to the customer. Cost is the price that we
pay/incur for the product.
Price includes our profit margin, cost includes only expenses we
Export pricing is the most important tool for promoting sales and facing
The price has to be realistically worked out taking into consideration all
export benefits and expenses.
However, there is no fixed formula for successful export pricing.
It will differ from exporter to exporter depending upon whether the
exporter is a merchant exporter or a manufacturer exporter or exporting through a canalising agency.
EXPORT ORIENTED UNIT STATUS OF THE COMPANY
The Export Oriented Units (EOUs) scheme, introduced in early
1981, is complementary to the SEZ scheme.
It adopts the same production regime but offers a wide option in
locations with reference to factors like source of raw materials, ports of export, , availability of technological skills, existence of an industrial base and the need for a larger area of land for the project.
The main objectives of the EOU scheme is to increase exports,
earn foreign exchange to the country, transfer of latest technologies ,stimulate direct foreign investment and to generate additional employment.
EOU Unit Obligations
The EOUs are required to achieve POSITIVE NFE (Net
Foreign Exchange Earning). For example if unit import of Rs.100 it should export for Rs.101
The EOUs are licensed to manufacture goods within
the bonded time period for the purpose of export.
The period of bonding is initially for five years, which
is extendable to another five years by the Development Commissioner.
COMPANY REGISTRATION WITH EXPORT PROMOTION COUNCIL OF INDIA
All the units which are engaged in export should be
register with respective Export Promotion Councils. Likewise, Akbar Corporation Ltd., is registered with Export Promotion Council of Handicrafts (EPCH).
EPCH is work under Development Commissioner of
Handicraft, Government of India.
GREEN CARD HOLDER FIRM
To promote EOU, Government of India is
issuing Green Card to all the EOU.
The benefits of the Green Card is that EOU
gets special treatment in all the government offices in which it requires permissions.
Quality and design of the product are most
important factors for increasing in sales.
Day to day expand the business in foreign
It is green card holder firm promoted by
export oriented units and Gov’t of India.
Company is working under the dynamic
leadership of Mr. Akbar Qayyum, Chairman & Managing Director.
CONCLUSION Akbar Corporation limited is good position in this period and good running in the export sector. It makes many types of product like as totally handicraft product. No sell in India only export out of country. It is Handicraft product manufacturing company. Its export manager have lot of experience in export field.
I got lot of knowledge about export procedure and how to manage in Organization