Description

International Business & Export Import Management
April 2024 Examination
1. You are working as an EXIM Manager in an international organization. A Finance
Manager has joined your organization and met you during his induction programme.
He requests you to brief him on Foreign Trade in India. Give a small write up on
Foreign Trade in India. (10 Marks)
Ans 1.
Introduction:
Foreign trade plays a pivotal role in shaping the economic landscape of India, contributing
significantly to its growth and development. India has a rich history of engaging in
international trade, dating back to ancient times when it was a prominent player along the Silk
Route. Over the years, foreign trade has evolved, and India has emerged as a key player in the
global market. As an EXIM Manager in this dynamic landscape, understanding the intricacies
of foreign trade is crucial for effective decision-making and strategic planning.
Concept and application
Foreign trade in India is a multifaceted concept that encompasses the exchange of goods and
services across international borders. The country’s approach to foreign trade has evolved over
the years, driven by historical, economic, and policy factors. Understanding the key
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2. You handle international purchases in an organization. Company has recruited a
team of 3 staff under you to expand your dept. Your boss advises you to give a small pep
talk to these 3 staff about Global Sourcing. Please explain them the different steps
involved in the procurement cycle of global purchase. (10 Marks)
Ans 2.
Introduction
Global sourcing is a critical aspect of international business and plays a pivotal role in the
success of an organization operating on a global scale. As the head of the international
purchases department, it is crucial to guide and inspire our newly recruited team to understand
the intricacies of global sourcing. In today’s dynamic business environment, companies are
increasingly relying on global procurement to access cost-effective resources, diverse
suppliers, and innovative technologies. This necessitates a comprehensive understanding of
the procurement cycle involved in global purchases.
In this pep talk, we will delve into the various steps of the global procurement cycle,
3. Your company has got an enquiry for export. The importer asks your company to
select an incoterm between FOB and CIF. You are asked to explain the following to the
Management to understand the terms better:
a) What is INCOTERM? (5 Marks)
Ans 3a.
Introduction
International commercial transactions involve various complexities, and Incoterms
(International Commercial Terms) play a pivotal role in defining the responsibilities and
obligations of buyers and sellers. When faced with the choice between Free On Board (FOB)
and Cost, Insurance, and Freight (CIF) incoterms, it becomes crucial for the management to
have a clear understanding of these terms to make informed decisions and ensure smooth
b) Explain FOB and CIF (5 Marks)
Ans 3b.
Introduction
In international trade, the choice between Free On Board (FOB) and Cost, Insurance, and
Freight (CIF) Incoterms is a critical decision that influences the distribution of responsibilities
and risks between buyers and sellers. Understanding the nuances of FOB and CIF is essential