International Trade Operations
Economic reforms in India started at a time when Indian economy was in doldrums at internal as well external fronts. For getting Indian Economy integrated with the world, economic and trade partnerships were enhanced systematically through Free Trade Agreements, Economic Partnership Agreements, Investments Protection and Promotion Agreements. India gained from Liberalization, Privatization and Globalization (LPG) which is also manifested by the fact that Indian companies are largely establishing themselves in worldwide production and distribution markets and offer broader range of products and services which are equivalent to foreign products in quality and aesthetic appeal. Today, Indian companies have access to worldwide financial markets and better access to external financing. Understanding the nitty-gritty of trade operations in LPG era is important for success to any marketer because on one hand the International traders have been fortunate enough to have favorable economic environment but on the other hand they have another challenge of retaining satisfied customers in a cut throat competitive era and establishing workable relations with various parties involved in trade transactions such as Customs & Excise Department, Banks, Freight Forwarders, DGFT, ECGC, Insurance Companies, General Insurers, shipping companies, transporters, and keeping themselves updated on ever changing trade procedures, regulations, rules and policies. Systematic efforts have been made by the author in this book to cover all the essential elements of trade operations in an understandable way with easy language and explanation of facts and procedures through tables, diagrams and exhibits. This will help the new generation to enter in international trade and to master the trade techniques in a convenient manner and execute the trade operations decisions successfully in LPG era.