Contents Preface iii Acknowledgements viii 1. Foreign Trade-Institutional Framework and Basics 1 WTO and Trade Liberalization1 Exporting as an Entrepreneur-Steps2 Role of Government/Semi-government Agencies in Export Promotion6 Summary11 Concept Review Questions11 Objective Questions12 Select References12 Case Study 1: The Marine Products Export Development Authority13 Case Study 2: Port-Based Special Economic Zone at Kochi14 2. Export-Import-Documentation and Steps 17 Steps for Successful Exporting17 Export-Import Documentation20 Summary 26 Project Assignment 26 Concept Review Questions 26 Objective Questions 27 Select References 27 Case Study: Kelkar and Alpha Tyres28 3. Methods and Instruments of Payment and Pricing Incoterms 30 Methods of Payment30 Financing Exporters and Importers33 Instruments of Payment36 Summary 38 Concept Review Questions 38 Objective Questions 38 Select References 39 Case Study: Pricing-(EXIM Incoterms)39 4. Export-Import Strategies and Practice41 Export-Import Business Plan and Strategy41 Export Strategy Formulation44 Export Financing47 Import Strategy (Sourcing strategy)48 Summary 51 Concept Review Questions 51 Select References 51 Case Study: Golden Industries51 5. Export Marketing 59 Marketing-The Concept59 International Marketing60 Export Marketing-Going Global61 Globalization62 Different Forms of International Trade64 Summary67 Concept Review Questions 68 Select References 68 6. Methods of Financing Exporters 69 Pre-Shipment Finance69 Post-Shipment Export Advance72 Factoring74 Insurance75 Summary75 Concept Review Questions76 Exercises 76 Objective Questions76 Select References77 Case Study: Risk Management in Export-Import Business79 7. Business Risk Management and Coverage 79 Types of Risks79 Quality and Pre-shipment Inspection83 Summary 88 Concept Review Questions 88 Objective Questions88 Select References 89 8. Customs Clearance of Import and Export Cargo 90 Clearance of Import Cargo91 Clearance nf Fvnnrt- Par cm 96 Customs Valuation99 The Harmonized System 103 Garnets104 US Customs 24-hour advance Manifest Regulations106 New Developments in Customs Clearance Procedures 107 Summary109 Concept Review Questions109 Objective Questions110 Exercises 111 Select References 112 Case Study: Security vs. Supply Chain 112 9. Logistics and Characteristics of Modes of Transportation 114 Planning Physical Distribution 115 Benefits of an Efficient Logistics System117 Marketing Logistics System: The Concept119 Critical Elements of a Logistics System 122 International Transport System 125 Summary136 Concept Review Questions137 Objective Questions138 Exercises 139 Select References139 10. Characteristics of Shipping Industry 140 History of the Shipping Industry 140 Shipping Industry Characteristics 142 Role of Intermediares in Shipping Industry 148 Latest Trends in Logistics Operations 154 Ocean Freight Structure160 Summary165 Review Questions166 Objective Questions166 Exercises 167 Select References168 Case Study: Indian Rate Tricks168 11. World Shipping 171 Overview of Ports172 Shipping Conferences 173 Shipping Conferences and their Freighting Methods177 United Nations Code of Conduct for Liner Conferences183 Liners and Tramp Operations185 Types of Ships and International Trade187 Summary 192 Concept Review Questions193 Objective Questions193 Exercises 194 Select References195 Case Study: Shipping Conference Vs Shipper's Council195 12. Containerization and Leasing Practices 197 Containerization-Concept and Operation197 History of Containerization198 Types of Containers200 Benefits of Containerization207 Global Trade and Containerization211 Container Leasing Practices215 Inland Container Depots217 Summary 222 Concept Review Questions 222 Objective Questions 223 Exercises 224 Select References 224 Case Study: Downside of Containerization225 13. Export Procedures and Documents 227 The Search for an Overseas Buyer227 Processing An Export Order230 Negotiation of Documents239 Role of Banks in an Export-Import Transaction243 Summary 245 Concept Review Questions 246 Objective Questions 246 Exercises248 Select References 248 14. Information Technology and International Business 257 Electronic Procurement259 Electronic Marketing262 Electronic Logistics265 Summary 276 Concept Review Questions 276 Objective Questions 277 Exercises278 Select References 278 15. Export Incentive Schemes 280 Duty Exemption Schemes257 Duty Remission Schemes284 Export Promotion Capital Goods Scheme 288 Special Economic Zones 289 Summary 294 Concept Review Questions 295 Objective Questions 296 Select References 297 Case Study: Special problems of Special Economic Zones297 16. Doing Business with Middle East Countries 308 Overview 309 Summary 320 Concept Review Questions 320 Select References 321 17. Doing Business with Asean Countries 322 Overview322 Business Opportunities and Country Analyses323 Asean Countries and Trade With India333 Market Share: A Comparative Assessment339 Summary 342 Concept Review Questions 342 Objective Questions 343 Select References 343 18. Doing Business with Australia and New Zealand 344 Australia 344 New Zealand354 Summary 357 Concept Review Questions 357 Objective Questions 358 Select References 358 19. Doing Business with China and Japan 359 China 359 Japan 363 Summary 368 Concept Review Questions 369 Objective Questions 369 Select References 369 Test Your Knowledge 370 List of Abbreviations 387 Answers 392 Index 396