Bilateral Trade Agreements in the Era of Globalization

Bilateral Trade Agreements in the Era of Globalization

The EU and India in Search of a Partnership

Sangeeta Khorana, Nicholas Perdikis, May T. Yeung and William A. Kerr

This unique book provides an assessment of an Indian–EU agreement, drawing on the theory of preferential agreements, the history of India–European relations and the recent refocusing of the Indian economy. The authors explore both a broad overview of the agreement as well as a detailed examination of sensitive sectors.

Appendix C: Administrative and Documentation Formalities to be Fulfilled by Indian Exporters

Sangeeta Khorana, Nicholas Perdikis, May T. Yeung and William A. Kerr

Subjects: economics and finance, international economics

Extract

The report by Khorana et at. (2008) highlighted the different administrative and documentation formalities needed to be fulfilled by Indian exporters. These are: 1. Procurement of various multiple registrations including acquIrIng permanent account number, importer-exporter code number, business identification number, SSI registration (for small units), sales tax registration, opening and maintaining a Running Bond Account with the Maritime Collector of Central Excise, registration with export promotion councils, and so on. Procurement of an export order and its processing which includes terms and conditions of contract, mode of payment, and confirmation of the order by exporter. Procurement/manufacture of goods, as per the specifications of the importer, by securing pre-shipment finance from a bank on the basis of security of letter of credit (L/C) or Confirmed Export Order or Personal bond along with Export Credit Guarantee Corporation (ECGC) policy. Clearance by Excise Authorities from the premise of the exporter after physical verification on payment of duty and subsequent rebate or clearance under bond. The next step includes fulfilling the requirement of quality control and pre-shipment Inspection. 2. 3. 4. 195 196 Bilateral Trade Agreements in the Era in Globalization 5. 6. 7. 8. 9. Dispatch of goods to the gateway port for shipment by road or rail, and requisite application to the insurance company to obtain insurance cover for various risks. Completion of formalities relevant to a member of the export promotion councilor floor price regulation, canalization, certificate of origin, ECOC cover, consular invoice, export license, and so on, wherever may be...

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