1. Packing Credit: It refers to pre-shipment credit which is provided by commercial banks for a period of upto 180 days before shipment of goods to meet working capital requirements, such as :
a) Payment of wages.
b) Payment of raw materials.
c) Payment of factory overheads, etc.
2. Product Life Cycle: Products pass through a life Cycle. Normally, the product passes through four phases or stages. They are :
a) Introduction Stage. b) Growth Stage.
c) Maturity Stage, and d) DeclineState.
3. Product Positioning: It can be defined as an effort aimed at creating and maintaining in the mind of target customers intended image for the product or brand, relative to other brands so that they will perceive the product as possessing the attributes they want.
4. Proforma Invoice: The proforma invoice gives a clear idea to the importer in respect of terms and conditions of sale and the price of goods; that would be purchased by the importer. The proforma invoice helps the importer to obtain a LC and in obtaining import licence.
5. RCMC: It stands for registration-cum-membership certificate. It is issued by export promotion council and FIEO to those exporters who are its registered members.
6. Seed Capital: It is promoters’ contribution towards equity. The seed capital is provided by financial institutions like State Financial Corporations.
7. Services Exports: It refers to marketing of services in other countries. The services exports include banking, transport, travel, communications, insurance, software, etc. In 2006- 07, 41% of the services exports came from software services.
8. SEZ: SEZ is a specifically delineated duty free area and shall be deemed to be foreign territory for the purposes of trade operations and duties and tariffs.
9. Star Export Houses: The Foreign Trade Policy (2004- 09) has introduced the concept of star export houses in place of export/trading houses. The Star Export Houses are given additional benefits.
10. Trading Bloc: It is a group of countries, which come together to increase trade and development. It reduces or removes trade barriers on member nations. Some of the examples include : NAFTA, ASEAN, EU, etc.
11. TRIMS: It stands for trade related investment measures. It is a special agreement of WTO. The TRIMS agreement requires the member countries of WTO to treat foreign investment at par with domestic investment. The investment measures that discriminate foreign investment must be withdrawn by the member nations.
12. TRIPS: It stands for trade related intellectual property rights. It is one of the agreements signed by the members of the WTO. The TRIPs agreement provides protection for intellectual property rights including patents, industrial designs, trademarks, and copyrights.
13. UNCTAD: It stands for United Nations Conference on Trade and Development. Its members consist of developed and developing nations. The main objective of UNCTAD is to promote trade and development of less developed countries.
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