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Export Import Procedures and
Documentation
April 2025 Examination
1. Mr. Ramesh Sharma who is a proprietor of India
Electronics House Enterprises who is running a manufacturing business of
electronic items in India and wish to expand his business internationally. He
has a plan to import raw material from China, manufacture electronic products
in India and Export to UAE countries like Dubai and Abu Dhabi. You are working
as a Trade Finance officer in XYZ Bank and Mr. Ramesh approaches you to guide
him about the various methods of International Trade. He also wants to
understand whether any barriers to International Trade.
Please explain to Mr. Ramesh
briefly the various methods and barriers on International Trade. (10 Marks)
Ans 1.
Introduction
International
trade plays a crucial role in economic growth, allowing businesses to expand
their markets beyond national boundaries. Mr. Ramesh Sharma, a proprietor of
India Electronics House Enterprises, aims to import raw materials from China,
manufacture electronic goods in India, and export them to the UAE. As a Trade
Finance officer at XYZ Bank, it is essential to guide him on various methods of
international trade, including payment mechanisms, trade agreements, and
logistics. Additionally, it is vital to inform him about potential barriers
that may impact his business operations, such as tariff and non-tariff
restrictions, regulatory compliance,
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2. Mr. Raj has received the export
order from the overseas buyer for sale of gems and jewellery products . Mr. Raj
has diamond and gold jewellery business in Surat in the name of Raj Diamonds
Pvt Limited and have jewellery show rooms in India. He will be exporting the
gold jewellery products for first time. Recently, the Government has reduced
the duty drawbacks rates on export of gold and jewellery by more than half to
adjust for the significant cut in imports on these precious metals. Mr Raj
approached ABC Export Import Consultant and wish to know the process for
applying for IEC Code and various export documents required for availing pre
and post shipment finance for the banks.
You are working as officer with ABC
Export Import Consultant. Please explain to Mr. Raj the process for applying
IEC Code and export documentation for export of gold and jewellery
products. (10 Marks)
Ans 2.
Introduction
International
trade plays a crucial role in the expansion of businesses, offering access to a
broader market and increased revenue opportunities. Mr. Raj, the owner of Raj
Diamonds Pvt. Ltd., has received his first export order for gold jewellery.
Since he is new to the export business, he needs guidance on obtaining an
Importer-Exporter Code (IEC) and the required export documentation, especially
to avail pre- and post-shipment finance from banks. The recent reduction in
duty drawback rates on gold and jewellery exports has made it essential for Mr.
Raj to ensure
3a. XYZ Exporter from New Delhi
India exported garments to China Apparels in China under letter of credit
payment terms with sight bill of exchange. XYZ Exporter after manufacturing and
shipping the goods submitted the documents with 30 days Usance bill of
exchange. Exporter’s bank – Bank of New Delhi while verifying the export bills
also missed this discrepancy in bills of exchange and negotiated the documents
as other documents are as per the terms and condition of letter of Credit.
Opening bank (Importer`s bank) – Overseas Chinese Bank rejected the documents
with the discrepancy reason that bill of exchange wrongly drawn as Usance bills
instead of sight bills.
You are working as Export Manager
in Bank of New Delhi and advise the customer about the discrepancy pointed by
Overseas Chinese Bank. XYZ Exporter approached you to advise the solutions to
the problem. Please advise to the customer accordingly. (5 Marks)
Ans 3a.
Introduction
International
trade transactions require strict adherence to the terms and conditions
outlined in the Letter of Credit (LC). In the case of XYZ Exporter, a
discrepancy occurred when the exporter submitted a 30-day Usance Bill of
Exchange instead of a Sight Bill of Exchange under LC terms. The importer’s
bank, Overseas Chinese Bank, rejected the documents due to this inconsistency.
As an Export Manager at Bank of New Delhi, it is essential to guide XYZ
Exporter on the issue and
3b. Mr. Shiv Gupta wish to
re-export the goods to Dubai after importing the goods from USA Goods from
India to Dubai will be send through air and from Dubai to Sharjah by road.
What are the various documents
essential for processing of shipping bills and explain the process of
transhipment to the customer? (5 Marks)
Ans 3b.
Introduction
Re-exporting
goods involves importing products from one country and then exporting them to
another without significant processing. Mr. Shiv Gupta plans to import goods
from the USA to India and re-export them to Dubai via air, followed by road
transportation from Dubai to Sharjah. To facilitate this transaction, it is
essential to understand the required shipping documents and the
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