PROGRAM – MBA - SEMESTER - 4
SUBJECT CODE &
NAME - IB0015- Foreign Trade of India
1. Write a note on composition of
India’s foreign trade?
Composition of India’s Foreign Trade
Imports
have been classified into bulk imports and non-bulk imports. Bulk imports are
further sub-divided into three components: (i) Petroleum, crude oil products (ii)
Bulk consumption goods which comprise of cereals and pulses, edible oils and
sugar (iii) Other items comprising of fertilizers, non-ferrous metals, paper and
paper boards, rubber, pulp and waste paper, metallic ores, iron and steel. Non-bulk
imports are also classified into three components: (i) Capital goods which
include metals, machine tools, electrical and non-electrical machinery,
transport equipment and project goods (ii) Export related items which include
pearls, precious and semi-
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2. Explain the composition of
India’s import in detail?
Composition of India’s Imports
Imports have been classified
into bulk imports and non-bulk imports. Bulk imports are further sub-divided
into three components:
(i) Petroleum, crude and
products
(ii) Cereals and pulses,
edible oils and sugar
(iii) Some other bulk items
are fertilizers, non-ferrous metals, paper and paper boards, rubber, pulp and
waste paper, metallic ores, iron and steel
Non-bulk imports are also
further classified into three components –
(i) Capital goods which
include metals, machine tools, electrical and nonelectrical machinery,
transport equipment and project goods
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3. What are the main features of
India’s foreign trade policy and what are the
various EPCG schemes?
Main Features of India’s Foreign Trade Policy
Trade encourages the foreign
earnings as well as stimulates greater economic activities. The main objectives
of Import-export policy of the Indian Government have been to:
(i) Provide further impetus
to exports;
(ii) Provide support to the
growth of indigenous industry;
(iii) Provide for optimum
utilization of the country’s resource endowments, especially in manpower and
agriculture;
(iv) Facilitate technology
upgradation with special emphasis on export promotion and energy conservation;
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4. Write short notes on:
a. Advisory Bodies
b. Commodity boards
Ans : 4 - (a) Advisory Bodies
Board of Trade:This board of
trade was set up on 5 May 1989 with the purpose of providing an effective
mechanism to maintain continuous dialogue with trade and industry in the
context of major developments in the area of international trade. This board is
headed by the Commerce and Industry Minister who is the chairman of this Board.
The official members include Secretaries of Commerce and Industry, Finance
(Revenue), External Affairs (ER), Textile, Chairman of ITPO, Chairman/MD of
ECGC, MD, Exim Bank and Deputy Governor of Reserve Bank of India. The other
members include representatives from FICCI, CII, FIEO and media and renowned
personalities in the field of import and export trade.
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5. What are the various schemes
under India’s foreign trade policy?
Various Other Schemes under India’s Foreign Trade Policy
I. Duty Exemption and Remission Schemes
1. Advance Licence Schemeto allow duty free import of inputs,
which are physically incorporated in the export product (making normal
allowance for wastage) with a specific export obligation in terms of value and
quantity.
2. Export Promotion Capital Goods (EPCG) Scheme to allow
import of capital goods for pre-production, production and post-production
(including CKD/SKD thereof as well as computer software systems) at 5% customs duty
subject to an export obligation equivalent to 8 times of
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6. Write a short note on WTO and
dispute settlement?
WTO and Dispute Settlement
WTO’s dispute settlement
procedure is very significant for resolving trade quarrels. Whenever there is a
violation by any government on WTO agreement or a commitment made to WTO— WTO’s
dispute settlement procedure comes to the rescue. In fact, these agreements
have been made by the representatives of governments of various countries.
Obviously, these representatives bear the brunt of settling disputes through
the Dispute Settlement Body (DSB).
The Process: Stages in WTO dispute
settlement procedure
The dispute settlement
system consists of various stages. Two major ways in which the dispute can be
settled after the filing of the complaint are:
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PROGRAM MBA - SEMESTER 4
SUBJECT CODE & NAME - IB0017 –INTERNATIONAL
BUSINESS ENVIRONMENT AND INTERNATIONAL LAW
1. The legal environment of the
host country affects a multinational company. Explain.
Legal Environment
In addition
to the political environment in a country, the legal environment comprising of
local laws, civil laws, criminal laws, and trade regulations also influences the operations of a foreign firm.
It is important for a foreign firm to know the regulatory provisions in each
market, and as it is a sound knowledge about the legal environment constitutes
the ‘rules of the game’. At the same time, the firm must know the political
environment because that determines how the laws are enforced and indicates the
direction of new legislations. Thus the legal environment of international
marketing has a dyadic relationship with the political and the regulatory
systems
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2. Elaborate the objectives of the
International Monetary Fund.
International Monetary Fund (IMF)
The common directive of the
IMF ever since its inception has remained unchanged to date. According to Art.
I IMF Articles the objectives of the IMF are:
(a) to endorse international
economic collaboration through an enduring organization which offers a system
for discussion and cooperation on international economic difficulties;
(b) to
enable the development and balanced progress of international trade and thus
promote the advancement and upkeep of high degree of employment and real
revenue and to the
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3. List the provisions of the
Warsaw Convention and the rules added in the Hague Protocol.
Provisions of Warsaw Convention
The Warsaw System of
Conventions consist of:
·
Warsaw Convention 1929;
·
Hague Protocol, 1955;
·
Guadalajara Convention 1961;
·
Guatemala City Protocol, 1971;
·
Montreal Additional Protocols numbers 1, 2 and 3,
1975; and,
·
Montreal Additional Protocol number 4, 1975.
The Warsaw Convention:
(a) Regulates specifics that
are going to be incorporated in the documents of carriage;
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4. Write short notes on:
a. Export cartels
b. Customs and tariffs
a. Export cartels
A cartel is
said to exist when two or more enterprises enter into an explicit or implicit
agreement to fix prices, to limit production and supply, to allocate market share
or sales quotas, or to engage in collusive bidding or bid-rigging in one or more
markets. So an important dimension in the definition of cartel is that it requires
an agreement between competing enterprises not to compete or to restrict
competition. An international cartel is said to exist, when not all of the enterprises
in a cartel are based in the same country or when the cartel affects markets of
more than one country. An export cartel is made up of enterprises based in one
country with an agreement to cartelize markets in other countries. An import
cartel
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5. How does the TRIPs agreement
protect IPRs? What are the 7 intellectual properties defined in TRIPs?
Trade Related Aspects of Intellectual Property Rights and IPR
The Trade Related Aspects of
Intellectual Property Rights (TRIPS) is considered a controversial outcome of
the UR. TRIPs, in conjunction with TRIMs and services were known as the new
issues discussed in the UR.
Intellectual Property Rights
(IPRs) are defined as information with a commercial value. IPRs can be
characterized as a combination of ideas, inventions and creative expression, in
addition to the public willingness to bestow the status of property on them and
give their creator the right
to exclude
others from access to or use of protected subject matter. IPRs are lawfully
protected
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6. Which are the various kinds of
investment treaties and how do they function?
Investment Treaties
The desire
to attract foreign investment has led most countries, especially developing
countries, to adopt policies that are designed to create a favourable
investment climate. An important part of these policies are legal safeguards.
These legal safeguards include the stability of the legal conditions under
which an investor can operate, the quality of the local public administration,
the transparency of the system of local regulations, and an effective systemof
dispute settlement. Many countries have adopted investment codes which are
designed to combine clarity with favourable conditions for foreign investments.
In addition to guarantees
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PROGRAM - MBA - SEMESTER - 4
SUBJECT CODE & - NAME - IB0018 – Export-Import
Finance
1. Elaborate the role of EXIM bank in promoting foreign trade.
Objectives
EXIM Bank has been set up
not only to enhance exports but also to bring together and integrate the
country’s foreign trade with the economic growth. The bank has been a catalyst
in the promotion of India’s trade since its inception. Similar to export credit
agencies across the world, EXIM Bank has played a major role in granting export
credit. With the passage of time, EXIM Bank has evolved into an institution
which assists small and medium enterprises in building global alliances by
offering a number of products and services at various stages of the business
cycle. The stages that EXIM Bank covers start right from importing capital
goods and technology, production for export, marketing the product overseas and
thus providing investment at the pre shipment and post shipment stages.
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2. Explain the mechanism for disbursal of Pre Shipment finance.
Mechanism of Disbursal of Pre Shipment Finance
Ordinarily, each
packing credit sanctioned should be maintained as separate account for the
purpose of monitoring the period of sanction and end-use of funds. Pre shipment
finance to exporters goes through following stages from sanction to its
liquidation.
(i)
Appraisal and Sanction of Limits:Banks check various aspects while making an
appraisal and sanction of export credit to exporters. Some of the important
aspects that banks check are product profile of the exporter in international
market, political and economic environment of the country of import etc. Banks
also look into the creditworthiness and solvency report of the prospective
buyer, with whom the exporter proposes to do business. In order to arrive at a
fruitful conclusion about the creditworthiness and solvency position of buyers;
banks consult various credit rating agencies like Export Credit Guarantee
Corporation (ECGC) or private consulting agencies like Small and Medium
Enterprises Rating
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3. What are the various trade financing schemes?
Trade Financing Schemes
The EXIM Bank of India
plays the role of a coordinator, consultant, promoter and a source of finance.
The bank acts a coordinator for clearance of Projects and Services Exports and
Deferred Payment Exports of the Working Group Mechanism. The working group is
comprised of representatives of the Government of India, Reserve Bank of India,
ECGC and various other commercial banks. The working group clears contracts
sponsored either by the EXIM Bank or Commercial Banks and provides a one window
mechanism for clearance of export proposals. A number of financing schemes are
provided by RBI. Let us go through each one of them in detail.
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4. What are the various Risks Coverage under ECGC Policies? Explain in
detail.
Risks Coverage under ECGC Policies
ECGC policies protect
the exporters from a wide range of commercial and political risks and provide
an exporter a competitive edge in dealing in international trade and:
•Helps in expansion of
sales
•Helps in protecting
the exporter against bad debts
•Helps in credit
facilitation and boost his borrowing power
•Helps in stabilizing
and assuring the cash flow
•Helps in exploring and
developing new markets
Thus, credit insurance
provides protection to exporter in the following cases:
•Protection from
corporate insolvency
•Protection from
bankruptcy
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5. Explain the methods of Import Finance and Import Financing Schemes.
Methods of Import Finance
Importer’s cash flow is
greatly affected by the delays in realizing payments from overseas suppliers.
This proves to be a great burden on the importers. To overcome these
challenges, import finance is available for these traders for increasing their
businesses by having access to working capital. Import financing
has a number of
benefits like its ability to be tailor made depending upon the need of the
business. There are a number of imports financing methods like financing under
L/C, financing against bills for collection, financing under deferred payment,
financing by EXIM Bank and financing under foreign credit. It will be beneficial
to view each of these methods in detail:
(i)
Financing Import under L/C: As you have learnt in the previous unit, a L/C is a
guarantee or a commitment by a bank in the importer’s country to pay to the
seller overseas the price of the good or
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6. What is Foreign Exchange Market? Explain the Participants in Foreign Exchange Markets.
Foreign Exchange Market
The foreign exchange
market or currency market exists wherever international currencies are traded
for another. Foreign exchange market, known also as forex market, is by far the
largest market in the world. No other market of the world is comparable to
forex markets in terms of cash value traded every day.
Forex
market transactions include trading between large banks, central banks, foreign
exchange dealers, currency speculators, transnational corporations, governments
and other financial and non financial institutions. According to some
estimates, the total trade transactions in foreign exchange markets are on an
average more than $20 trillion every day. Volume, size and scale of foreign
exchange markets are
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PROGRAM - MBA
SUBJECT CODE & NAME - IB0016/SC0006/IB0019 –
INTERNATIONAL LOGISTICS & DISTRIBUTION MANAGEMENT
1. Write a note on the difference
between national and international logistics.
Comparison of National and international logistics
The following
are some of the major
differences between domestic
and international logistics:
Distance of transportation –
In domestic transportation, the
logistics operates within
a country, but in international
transportation, it operates across several countries. So the distance is
usually much more.
Language – In
domestic trade, the
operators have to
know a language which is
common across the
country but in
international logistics, the operators
have to interact with people of various languages to carry out the logistics activities.
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2. Explain the term trade blocs
and list out the various advantages and disadvantages of trade blocs.
Trading Blocs
Trading blocs
are economic relationships
built between countries
of a region.
This is formed
to encourage and
develop the trade
between the member
nations. It encourages
regionalism where, the
neighbouring countries form an alliance
for expanding their trade and relationship Trade blocs boost regional trade
and provide a platform for free trade.
They remove the trade barriers such as
taxes, permits, complex documentation, etc., between
the member nations
for movement of
goods.
Trade blocks can be classified as:
·
Common market
– It is
a trade group
formed by countries
within a geographical area to promote duty
free trade. The group also allows free
movement of labour
and capital among
the member nations
for example, MERCOSUR.
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3. Distinguish between time
charter and voyage charter.
Time charter
Under time charter, ship
owner rents the vessel to the second party for a specific
period of time.
In time charter
arrangement, ship-owner has
the responsibility to control and
manage the ship. Here, the ship-owner pays the expenses
of officers, crew,
insurance, food, etc.
Whereas, the charterer needs to spend the expenses related to fuel
and cargo.
Time charter agreement
usually contains the details like:
·
name of the ship owner
·
name of the charterer
·
tonnage and capacity of the ship
·
speed and fuel consumption of the ship
·
trading area of the ship
·
agreed service
·
contractual period
·
time of delivery
·
place of delivery
·
payment strategies
Under time charter, ship
owner would not take the responsibility to transport goods to respective destinations. The
responsibility to transport goods solely lies on the charterer.
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4. Discuss about air cargo
documentation.
Cargo Documentation and Insurance
Air traffic
cargo movement is
much faster than
the sea shipments. Therefore,
documents such as
invoices, packing lists
are attached to the
consignee’s copy along with the set
air waybill. These documents generally are
carried along with
the cargo and
only in certain
situations documents related to banking transactions are also
carried with the cargo.
The
documents arrive at the same time as that of the freight. The clearance process
is initiated when
the goods are
consigned directly to the custom house broker of the
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5. Explain the various functions
of outbound logistics.
Outbound Logistics Functions
Outbound logistics
refers to the
physical movement of
goods from the manufacturer
or supplier to the customer. It mainly deals with the export or delivery of
goods domestically or
across borders. Below figure depicts the functions
or operations involved in outbound logistics of an organisation.
The functions of outbound
logistics are explained as follows:
Demand forecast
Demand forecasting is the
process of predicting or estimating the customer demand
based on which
the products are
manufactured and distributed.
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6. Explain some of the frictions
and frauds observed in the distribution channel.
Friction or Fraud in the Distribution Channel
The various
positive forces and activities that
helpin coordinating the ovement
of products to the buyers. However, most of the
exporters continuously examine
the long links
of overseas distribution channel searching for some of the susceptible
spots where the goods might be robbed or
attacked. The exporter who designs an international channel must be aware of these problems and ensure
that the channel is suitably strong to
withstand these kinds of attacks. For
example, The Mexican drink known as
Tequila Cuervo, which is
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