Page 53 - DMGT546_INTERNATIONAL_TRADE_PROCEDURE_AND_DOCUMENTATION

International Trade Procedures and Documentation Ginni Nijhawan, Lovely Professional University

Notes Unit 3: EXIM Strategies

CONTENTS
Objectives
Introduction

3.1 Need to Go International
3.2 EXIM Business Plan and Strategy
3.3 Export Strategy Formation
3.4 Import Strategy
3.5 International Marketing
3.6 Summary

3.7 Keywords
3.8 Review Questions
3.9 Further Readings

Objectives

After studying this unit, you will be able to:

Explain EXIM Bank: Plan and Strategies
Discuss Export Strategy Formulation
Describe Import Strategy
Explain the concept of International Marketing

Introduction

Export-Import Bank of India is the premier export finance institution of the country, set up in
1982 under the Export-Import Bank of India Act 1981. Government of India launched the institution
with a mandate, not just to enhance exports from India, but to integrate the country’s foreign
trade and investment with the overall economic growth. Since its inception, Exim Bank of India
has been both a catalyst and a key player in the promotion of cross border trade and investment.
Commencing operations as a purveyor of export credit, like other Export Credit Agencies in the
world, Exim Bank of India has, over the period, evolved into an institution that plays a major
role in partnering Indian industries, particularly the Small and Medium Enterprises, in their
globalisation efforts, through a wide range of products and services offered at all stages of the
business cycle, starting from import of technology and export product development to export
production, export marketing, pre-shipment and post-shipment and overseas investment.
3.1 Need to Go International

The factors that motivate firms to go international may be broadly divided into two groups:
The pull factors, most of which are proactive reasons, are those forces of attraction which
pull the business to the foreign markets. Such attractiveness includes, broadly, the relative
profitability and growth prospects.

48 LOVELY PROFESSIONAL UNIVERSITY