Exporting is the most traditional mode of entering the foreign market. The importance of iron and steel, metallic goods, transport equipments, machineries and engineering goods is also more among other exported goods. The commodities which are necessary are imported and other commodities imports are strictly regulated.
Except these, taxes are also reduced on the commodities which are used by export units for producing their goods.
Bilateral trade agreement is also signed and improved among different countries. Among the different countries to which our country exported before independence, the share of England was the largest.
Keeping these things in mind our Government has given importance to modernize export units. Since many countries do not offer a large enough opportunity to justify local production, exporting allows a company to centrally manufacture its products for several markets and therefore to obtain economies of scale.
However, advantage could not be taken of this position due Importing and exporting essay the absence of an effective export development strategy.
Of course, this approach has a potential downside — Managers at factories located far from export customers may not be responsive to customer needs and wants. Foreign trade policy of India gives importance to export promotion.
Our country has adopted import policy since the beginning of Five Year Plan. It is not possible to reduce the import of those goods which are necessary to build our defence strong. Generation of interest for our produced goods is not enough to boost export but it needs to fix an accepted price to the foreigners.
These non-traditional goods include engineering goods, iron and steel, chemical fertilizers, skin products etc. Different steps have been taken for export promotion.
Jute products, tea, cotton garments, metal ore, raw skin, cashew nuts, tobacco leaves and other spices have been exported by India for a long time. Indeed, a number of companies have developed sourcing models that take into account all cost factors and compute the lowest-cost source for supplying markets.
It means the structure of import is channeled by adopting different restrictions on import. It needs modernization of export units and use of new techniques to make it more competitive.
With economic liberalization an environment for globalization of Indian exports has been emerging. Exporting is that which allows manufacturing operations to be concentrated in a single location, which may lead to scale economies.
Broadly, the important strategies to increase the export earnings are: The decision to export or manufacture in the target country should not change the basic marketing program for the product in a market.
Exporting to a foreign market is a strategy many companies follow for atleast some of their markets. Due to our export to other countries and availability of substitutes in England, the importance of England as importer of our products declined.The term "export" means to carry out or sell abroad while as "import" is to carry in or buy from abroad.
There are many reasons for exporting and importing. For example, country exports goods if it is one of the world's few suppliers, if it produces the merchandise at a lower cost than the other countries, or if its goods are in demand because 4/4(4).
Furthermore, the issue of why importing and exporting is an absolute necessary component of the American income and why importing with other countries like China, Mexico, and Canada is of extreme importance; especially for America and its ever growing monetary deficit.
Physical Exports: If the goods physically go out of the country or services are rendered outside the country then it is called as physical export.
The Great Depression, Concordancia in Argentina, and Import Substitution Industrialization - The Great Depression, which lasted from towas a landmark decade that entailed famine, increased suicide rates, and financial shrinkage internationally. I think that this argument is in the best interests of the country as a whole because they would not be worried about jobs and it will keep the overall population’s wages low to increase country’s overall manufacturing exports.
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