8th FIEO-IIFT Short Term Refresher Programme
on International Trade in Delhi
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Dr.R.K. Dhawan, Chairman, FIEO(NR) addressing the participants. On the dais, from left: Mr. Sunil Agnihotri, Director, FIEO(NR); Mr. Ajay Sahai, Director General, FIEO; Mr. K.T. Chacko, Director, IIFT; Mr. R. M. Joshi, Chairperson(MDP), IIFT; Prof. Harkirt Singh, Programme Director, IIFT. |
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8th FIEO-IIFT Short Term Refresher Programme on International Trade was organized from March 31 to April 4 at New Delhi. Thirty-five export executives representing various sectors attended the programme.
Explaining the objective of the course, FIEO’s Northern Region Chairman Dr R.K. Dhawan said that regular training interventions were crucial for exporters to keep themselves abreast with the latest in international market and to learn about the updated rules and regulations, policy matters, international financing issues, latest techniques to manage foreign exchange and credit risks. "With rupee moving north and the world economy slowing, it is important for the exporters to know how to hedge their risks by forward booking or other means," he added.
In his inaugural address, IIFT Director Mr. K. T, Chacko also said that such training programmes were crucial for the exporters to learn various tools and mechanism in order to safeguard themselves from the challenges and threats emerging from external environment, especially when the going was getting tougher.
FIEO Director General Mr. Ajay Sahai, however, hoped that the rupee would stabilize soon but he suggested that new exporters should explore new export destinations and also look for new products to insulate themselves from the impact of currency movements. ‘We must explore Africa as our new export destination and focus high-tech products like automotives and industrial machinery which constitutes 60% of the current world trade," he said.
Dr. R. M. Joshi, Chairperson (MDP), IIFT, while correlating globalization with current economic scenario, advised the participants to look for specific solutions for their products to meet the emerging challenges.
Professor Harkirat Singh, Programme Director, IIFT, introduced the subjects to be covered under the five-day programme as understanding of foreign trade policy, contemporary issues in international marketing, location of buyers and understanding marketing environment, and understanding schemes of managing currency risk in export transactions etc.
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CBEC issues instructions for timely payment of service tax refund claims to exporters Central Board of Excise and Customs has issued instructions (F.No.341/15/2007-TRU dated 17th April, 2008) to all field formations to ensure timely and expeditious payment of refund claims to exporters. A monitoring system to ensure timely payment of refund claim has also been put in place. Any refund claim, which is not finalized within a period of 30 days from the date of filing, is now required to be reported by the Commissioner to the concerned Chief Commissioner and any refund claim, which is not finalised within a period of 45 days, for whatsoever reasons, is required to be reported to the CBEC. Field officers have also been asked to make special efforts to dispose of refund claims of small and medium exporters on priority basis. Government of India has already notified refund of service tax paid on following sixteen taxable services, whether or not input services, use of which could be attributable to export goods, based on verifiable methods: 1. Port services, 2. Transport of goods by roads, 3 Transport of goods by rails, 4. Other port services, 5. General Insurance, 6. Technical testing and analysis, 7. Technical inspection and certification, 8. Storage and warehousing services, 9. Specialized cleaning services (Fumigation and Disinfection), 10. Courier Agency, 11. Transport of Goods directly from the Factory by road, 12. Transport of Goods directly from the factory by rail, 13. Customs House Agents, 14. Banking charges 15. Commission paid to foreign agents subject to a ceiling of 2% of FOB value, 16. Business exhibition services; |
