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Meaning of Import Trade

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  • Meaning
  • Objectives of Import Trade
  1. Achieving Rapid Industrialization
  2. Meeting Consumer Demand
  3. Upgrading Standard of Living of the People
  4. Meeting Shortage Situation
  5. Strengthening Defence
  • Import Procedure
  1. Obtaining Import License
  2. Trade Enquiry
  3. Obtaining Foreign Exchange
  4. Placing an Indent Order
  5. Opening Letter of Credit(L/C)
  6. Receiving Shipping Document
  7. Appointment of Clearing Agents
  8. Fulfillment of Customs Formalities
  9. Taking Delivery of Goods
  10. Settlement of Import Bill
  • Import Documents
  • Intermediaries in Import Trade
  1. Indent Houses/ Import Agent
  2. Clearing Agent
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