DIBM304 EXPORT-IMPORT MANAGEMENT

Description

SESSION	JULY-AUG 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	III
COURSE CODE & NAME	DIBM304 EXPORT-IMPORT MANAGEMENT

 

 

Assignment Set – 1

 

1. Explain the key steps involved in establishing an export-import firm and discuss their importance in ensuring smooth international trade operations. 10

Ans 1.

Key Steps in Establishing an Export-Import Firm and Their Importance

Setting up an export-import firm involves a systematic process of legal registration, compliance with trade regulations, and market planning. These steps ensure that the business operates smoothly, avoids legal complications, and meets global trade standards. Establishing a firm correctly is crucial for building credibility with international clients and sustaining long-term profitability.

Step 1: Business Registration

 

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2. Discuss the major stages involved in export order processing from inquiry to fulfilment, highlighting the importance of each stage in ensuring successful international trade operations. 10

Ans 2.

Major Stages in Export Order Processing

Export order processing is a structured sequence of activities beginning with an inquiry from a foreign buyer and concluding with the delivery and payment of goods. Each stage is vital in ensuring the exporter meets contractual obligations, maintains product quality, and complies with international trade standards. Proper execution of these stages minimizes risk and enhances buyer satisfaction.

Stage 1: Inquiry and Offer

The process begins when a prospective

 

3. Explain the key steps involved in the import licensing process and its importance in international trade. 10

Ans 3.

Key Steps in Import Licensing Process and Its Importance

Import licensing is a regulatory mechanism that governs the entry of goods into a country. It ensures that imports align with national economic policies, quality standards, and foreign exchange regulations. In India, import licensing is administered by the Directorate General of Foreign Trade (DGFT) under the Foreign Trade (Development and Regulation) Act, 1992.

Step 1: Determining the

 

Assignment Set – 2

 

4. Explain the importance of cargo insurance in international trade. 10

Ans 4.

Importance of Cargo Insurance in International Trade

Cargo insurance is a vital aspect of international trade that protects goods against loss or damage during transit by sea, air, or land. Since goods often travel long distances across multiple countries, they are exposed to numerous risks such as accidents, theft, piracy, and natural disasters. Cargo insurance provides financial security to exporters and importers, ensuring that international

 

5. Discuss the various types of cargo insurance policies and explain the importance of key documents involved in ensuring adequate coverage and claim settlement in international trade. 10

Ans 5.

Types of Cargo Insurance Policies and Importance of Key Documents

Cargo insurance policies provide varying levels of coverage depending on the nature of goods, mode of transport, and specific trade requirements. Selecting the right policy ensures protection against potential losses during transit. Equally important are the supporting documents that verify ownership

 

6. Explain the role of customs in the import clearance process, highlighting the importance of document verification and its key components. 10

Ans 6.

Role of Customs in Import Clearance and Importance of Document Verification

The customs department plays a pivotal role in regulating and facilitating international trade by ensuring that imported goods comply with national laws and tariff regulations. Customs clearance is a mandatory process through which goods are legally brought into a country. Effective customs operations guarantee revenue collection, trade compliance, and security. Document verification forms the backbone of this process, ensuring transparency and accountability.

Role of Customs in