EXPORT IMPORT DOCUMENTATION

IntroductionAs per section 2(e) of Foreign Trade

(Development & Regulation) Act 1992, the term ‘Export’ is defined as “taking out of

India any goods by land, sea or air”. As such, the goods and services must leave India, or

cross the customs frontiers of India to a foreign destination, for being reckoned as export. Import is purchase of goods and

services from foreign land to India.

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EXPORT IMPORT

• Export and Import is governed by Exim Policy 1992-1997, Exim Policy 1997- 2002 and Exim Policy 2002 – 2007. This is followed by Foreign Trade Policy 2004 – 2009 and 2009 – 2014.

• Why the Exim policy has been changed to Foreign Trade Policy needs to be investigated and understood?

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EXPORT – IMPORT DOCUMENTATION

• Documentation is an important part of export/import procedures. Documentation facilitates smooth flow of physical goods and payments thereof across national frontiers at every stage during the export operations.

• Documentation serves two required purposes:– Regulation of trade and’– Facilitation of export operations.

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SIGNIFICANCE OF EXPORT DOCUMENTATION

• In the international trade, export documentation facilitates the flow of goods and payments across the national boundaries

• The various documents which are invariably used, serve two purposes (i) to satisfy the various regulatory provisions of the government imposed upon export/import goods and (ii) to facilitate export promotion.

• Exchange Control Regulations been standardized under Aligned Documentation System 1991.

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