IGNOU AED 01 IT APPLICATION IN RETAIL Free Solved Assignment 2022-23

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IGNOU AED 01 Free Solved Assignment 2022-23, IGNOU AED 01 IT APPLICATION IN RETAIL Free Solved Assignment 2022-23 If you are interested in pursuing a course in radio production and direction, IGNOU AED 01 can be an excellent choice. In this article, we will take a closer look at what IGNOU AED 01 is all about and what you can expect to learn from this course.

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IGNOU AED 01 Free Solved Assignment 2022-23 is a course offered by the Indira Gandhi National Open University (IGNOU) under the School of Journalism and New Media Studies. As the name suggests, it is a course on “Production and Direction for Radio.” The course is designed to provide students with a comprehensive understanding of radio production and direction and covers various topics related to this field. IGNOU AED 01 Free Solved Assignment 2022-23

IGNOU AED 01 Free Solved Assignment 2022-23

Q.1 Discuss the institutions providing technical services for the promotion of export in India. Explain the institutional setup for Government policy making and consultation for export promotion in India.

India has several institutions that provide technical services for the promotion of exports. Some of the key institutions are:

  • Directorate General of Foreign Trade (DGFT): DGFT is an agency of the Ministry of Commerce and Industry that is responsible for the implementation of the Foreign Trade Policy. DGFT is responsible for formulating and implementing policies and programs to promote India’s exports.
  • Indian Trade Promotion Organisation (ITPO): ITPO is the premier trade promotion agency of the Government of India. It is responsible for promoting India’s exports to the world market. ITPO organizes trade fairs and exhibitions in India and abroad to promote exports.
  • Export Promotion Councils (EPCs): EPCs are non-profit organizations set up by the government to promote and develop exports from various sectors. They provide technical assistance, market research, and other support to exporters.
  • Federation of Indian Export Organizations (FIEO): FIEO is a non-profit organization that represents Indian exporters. It works to promote exports, improve export policies, and provides training and consultancy services to exporters.

The institutional setup for government policy-making and consultation for export promotion in India is as follows:

  • Ministry of Commerce and Industry: The Ministry of Commerce and Industry is the nodal agency for formulating and implementing India’s export policies. It provides policy support to various institutions and agencies involved in export promotion.
  • Board of Trade: The Board of Trade is an advisory body set up by the government to provide inputs on export policies. It comprises representatives from the government, industry, and trade associations.
  • Inter-Ministerial Committee on Export Promotion: The Inter-Ministerial Committee on Export Promotion is a high-level committee set up by the government to review and coordinate export-related policies and programs.
  • Export Promotion Councils: EPCs provide feedback and inputs to the government on export policies and programs.

Overall, the institutional setup in India for export promotion involves a range of government and non-government organizations working together to promote exports and provide technical assistance to exporters.

Q.2 (a) Discuss the duties of an exporter under FOB and CIF contract. Describe the
major legal implications of FOB contract.

An exporter is a party who sells and ships goods to a buyer located in another country. In international trade, exporters often enter into two types of contracts with buyers: FOB (Free on Board) and CIF (Cost, Insurance, and Freight). Each contract carries different duties and responsibilities for the exporter.

Under an FOB contract, the exporter is responsible for delivering the goods to the port of shipment and loading them onto the ship. The exporter must ensure that the goods are properly packed and labeled, and that they conform to any relevant export regulations. The exporter is also responsible for obtaining any necessary export licenses or permits.

Once the goods are loaded onto the ship, the exporter’s duties are fulfilled. The buyer assumes responsibility for the goods from that point forward, including paying for the cost of transportation, insurance, and any other charges associated with the shipment.

In contrast, under a CIF contract, the exporter is responsible for arranging and paying for the cost of transportation, insurance, and freight to deliver the goods to the port of destination specified in the contract. The exporter is also responsible for ensuring that the goods are properly packed and labeled and comply with all relevant export regulations.

In addition to these duties, an exporter under an FOB contract faces several legal implications. One of the most significant legal implications of FOB contract is that the risk of loss or damage to the goods passes from the exporter to the buyer at the point where the goods are loaded onto the ship. This means that if the goods are lost or damaged during shipment, the buyer bears the risk and must bear the loss.

Furthermore, under FOB contract, the exporter has a duty to deliver the goods to the port of shipment on time. If the exporter fails to do so, the buyer may have a legal claim for damages. The exporter also has a duty to ensure that the goods are properly packed and labeled in compliance with all relevant regulations, and failure to do so could result in penalties or fines.

In conclusion, while both FOB and CIF contracts have their advantages and disadvantages, an exporter under an FOB contract has different duties and legal implications compared to an exporter under a CIF contract. Therefore, it is essential for an exporter to understand their obligations under each contract type and to ensure compliance with all relevant regulations to avoid any legal consequences.

(b) State the documents required for export. Discuss in detail the features of Commercial invoice and Bill of lading.

Documents Required for Export:

When exporting goods from one country to another, there are several documents required to ensure smooth clearance through customs and shipment of the goods. The exact requirements may vary depending on the destination country, the nature of the goods being exported, and other factors. However, some of the common documents required for export include:

  • Commercial Invoice: This document provides a detailed description of the goods being exported and their value. It is used to calculate the duties and taxes that will be levied on the goods when they arrive at their destination. It is also used by the buyer to verify that they have received the correct goods and that they have been invoiced for the correct amount.
  • Packing List: This document lists the contents of each package being shipped. It includes details such as the quantity, weight, and dimensions of each item, as well as any special handling instructions.
  • Bill of Lading: This is a document issued by the carrier or freight forwarder that confirms that the goods have been received for shipment. It includes details such as the name and address of the buyer and seller, the description of the goods, and the terms of shipment.
  • Export License: In some cases, an export license may be required to export certain goods from one country to another. This license is typically issued by the government of the exporting country and is designed to regulate the export of goods that may have strategic or national security implications.

Now, let’s discuss the features of two of the most important documents required for export – Commercial Invoice and Bill of Lading.

Features of Commercial Invoice:

The commercial invoice is a legal document that contains the following information:

  • Description of Goods: The commercial invoice provides a detailed description of the goods being exported, including their quantity, value, and any other relevant information.
  • Shipping Information: The invoice includes the name and address of the buyer and seller, as well as the name of the carrier and the place of delivery.
  • Payment Information: The invoice specifies the total amount due for the goods, including any taxes, fees, or other charges.
  • Terms of Sale: The invoice also specifies the terms of sale, including the payment method, delivery terms, and any other relevant details.
  • Signature: The invoice must be signed by the exporter or their authorized representative.

The commercial invoice serves several important functions in the export process. It provides proof of the transaction, including the value of the goods being exported, which is important for customs clearance and payment of duties and taxes. It also helps to ensure that the correct goods are being shipped to the correct buyer, and that the payment is made in a timely manner.

Features of Bill of Lading:

The bill of lading is a legal document issued by the carrier or freight forwarder that contains the following information:

  • Description of Goods: The bill of lading includes a detailed description of the goods being shipped, including their quantity, weight, and dimensions.
  • Shipping Information: The document includes the name and address of the buyer and seller, as well as the name of the carrier and the place of delivery.
  • Payment Information: The bill of lading specifies the amount due for the shipment, as well as any taxes, fees, or other charges.
  • Terms of Shipment: The document also specifies the terms of shipment, including the date of shipment, the method of transportation, and any other relevant details.
  • Signature: The bill of lading must be signed by the carrier or their authorized representative.

The bill of lading serves several important functions in the export process. It provides proof that the goods have been received for shipment, and serves as a receipt for the goods. It is also used as a legal document to transfer the ownership of the goods from the exporter to

Q.3 Comment on the following:

(a) Standard policies of ECGC cover losses of all types of risks.

The statement is not entirely accurate.

ECGC (Export Credit Guarantee Corporation of India) provides various types of insurance policies to protect Indian exporters from different types of risks associated with international trade. These policies include:

  • Standard Policy: This policy provides protection against commercial and political risks. It covers the risks of non-payment by the buyer due to commercial reasons, such as insolvency or protracted default, as well as political risks such as war, civil unrest, and exchange transfer.
  • Small Exporter’s Policy: This policy is designed for small exporters and covers the same risks as the standard policy, but with lower premiums and simpler documentation.
  • Specific Buyer’s Credit Policy: This policy provides protection against the risk of non-payment of specific export contracts that are financed on a credit basis.
  • Exporter’s Comprehensive Insurance Policy: This policy covers losses due to various risks, such as fire, theft, and accidental damage, during the shipment of goods.

Therefore, while ECGC policies do provide coverage for a wide range of risks associated with international trade, the types of risks covered depend on the specific policy chosen by the exporter.

(b) Credit is a major weapon of international competition but it involves risk.

That is correct. Credit can be a powerful tool in international competition, as it allows businesses and countries to access funding that they may not have otherwise had. With this funding, they can invest in research and development, expand their operations, and increase their competitiveness in the global marketplace.

However, credit also involves risk. When businesses or countries take on debt, they must make payments on that debt, which can be a strain on their finances. If they are unable to make those payments, they may default on their debt, which can lead to a number of negative consequences, such as lowered credit ratings, increased borrowing costs, and even bankruptcy.

Moreover, when credit is used excessively or irresponsibly, it can lead to economic instability, as we saw in the 2008 financial crisis. So while credit can be a powerful weapon of international competition, it must be used carefully and responsibly to minimize risk and promote long-term stability.

(c) Exporters and importers are not exposed to any exchange risks.

This statement is not entirely accurate. Exporters and importers are often exposed to exchange rate risk, which is the risk of fluctuations in currency exchange rates between the time a trade is agreed upon and the time payment is made. This risk can affect both the cost of goods and services being imported or exported, as well as the revenue generated from those trades.

For example, if an exporter agrees to sell goods to a buyer in a foreign currency, but the value of that currency decreases relative to the exporter’s domestic currency before payment is received, the exporter will receive less revenue than they originally anticipated. Similarly, if an importer agrees to purchase goods in a foreign currency, but the value of that currency increases relative to their domestic currency before payment is made, the importer will need to pay more than they originally anticipated.

To manage this risk, exporters and importers often use hedging strategies, such as forward contracts or currency options, to lock in exchange rates at the time a trade is agreed upon. This can help mitigate the impact of exchange rate fluctuations on the cost or revenue of the trade. However, there is always a degree of uncertainty and risk involved in international trade, including exchange rate risk.

(d) The role of marketing effort is not crucial in export promotion.

As an AI language model, I cannot provide a definitive answer to whether the role of marketing effort is crucial in export promotion, as it can depend on various factors and contexts. However, I can provide some insights that may be helpful.

Marketing efforts can play a significant role in export promotion by creating awareness, generating interest, and building relationships with potential customers in foreign markets. Effective marketing strategies can help companies differentiate their products or services from competitors, communicate their value proposition, and establish a strong brand image that resonates with customers in different cultural contexts.

In some cases, export promotion may not require significant marketing efforts if the products or services have a high level of demand or if the company has established a strong reputation in the industry. However, in most cases, companies need to invest in marketing efforts to expand their reach and compete in global markets successfully.

Moreover, marketing efforts can also help companies adapt their products or services to the needs and preferences of customers in different markets, which is crucial for export success. By conducting market research and understanding the cultural nuances and business practices of foreign markets, companies can tailor their marketing messages, packaging, pricing, and distribution channels to meet the needs of local customers effectively.

In conclusion, while the role of marketing efforts may vary depending on the product, industry, and target market, it is generally considered crucial for export promotion. Effective marketing strategies can help companies create value for their customers, establish a strong brand image, and expand their reach in global markets.

Q.4 Differentiate between the following:

(a) Pre-shipment finance and Post-shipment finance

(b) Voyage charter and Time charter

(c) Trading house and Star trading house

(d) FOB contract and CIF contract

Q.5 Write a short note on the following:

(a) Forward Contracts

(b) India Trade Promotion Organization

(c) War Perils

(d) EXIM bank

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