Now a day, export plays a vital role in the economic development of our country. Due to this small or large scale manufacturers started to export their products and services on a large scale. There may be direct exporter (person who exports directly his products or services) or indirect exporter (person who exports his products or services through recognized export houses).
Due to the existence of World Trade Organization, there exists free trade among the member countries as well as countries other than the member nations. However the exporter needs to obtain the necessary license from the respective authorities. In India, there are many industries who market their products and services in the international markets.
With the expansion of world’s economy, the importance of international trade is gaining much importance than earlier times. The greatest boost to our Indian economy is the import-export trade with China. However there exist many controls that restrict the exporters to market illegal materials.
Since trade deficit of India is high as compared to other developing nations so the government stress more attention on export in order to earn more foreign exchange. Due to this the government has simplify the trade formalities to promote free export.
Source : http://www.articlecompilation.com
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