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First I started to gather materials on globalization which is a basic foundation for export. I tried to explain globalization in detail to have a clear idea about export. It took a little bit of more time to understand about export lead growth. It was interesting to gather information about countries like India and China. The materials which I gathered for export lead growth is very much vague and it is not relevant to the topic. Then I went to search on the library and gathered materials.
Countries like India and China struggled a lot to overcome the barriers in trade. The economic development of the two countries was although at a same track China export was increased in the last few years. This is mainly due to the ministry of commerce which is the governing body of China. They take care of the export duties and it is also been outsourced under their guidance. China organizes more trade fairs and exhibitions compared to India. This creates awareness to the exporter and also to the globalised world. It tempts or strives the manufacturer to export their products.
Once the exporter's product is recognized in the global market, the demand for the product increases, as a result the exporter increases the quantity of the product to be exported. If the demand of the product is not meet, then the manufacturer or the exporter decides to start another organization abroad. As a result the MNC companies were established and the economy of the country increases.
Globalization makes all the things possible in the world. Any product produced in any part of the nation is available all over the world. It has made the world to shrink into a small country. All the things are made possible due to the development and advancement of technology. It is very great that how our ancestors made the economy to be molded in a form that it makes the development in the life style of people.
For each and every product there are councils in India, but the councils do not effectively perform the activities. So there are no effective results for the export and the exporters. Compared to China the Trade fairs and Exhibitions are very low in India. India also conducts fairs and exhibitions under the councils they also have the web sites for apparel councils and other councils. But the main drawback for the Indian councils is that the services and benefits provided b them does not reach the exporters that is they do not advertise or propaganda about the incident. They must make the exporters feel that the councils will help them.
In China the MOFCOM organizes the trade fairs and exhibitions in a periodic interval of time. The canton fair is the world famous trade fair held in China and it is also given more importance. Some fairs and exhibitions are held during the seasons they are known as seasonal fairs. They are held in that season of every year. I think the seasonal fairs will remain in the minds of people for a long time, they will be expecting the fairs in that particular season. When I collected materials regarding these fairs I came across some pictures, where the people are very happy in participating the fair.
As a first part of my project I collected the information about globalization, export lead growth, Inco terms, and about the documents required for export. It gave me a clear idea about the exporting activities and it was also interesting to know about it in detail. I was planning to start the second part of my project, but unfortunately I meet with a minor accident, by god's grace I was only injured. There was a deep bruise on my right wrist and was advised by doctor not to move, but I carried on to work, as I was not on schedule. I was advised not strain or use computer as regular as I used to and should take regular breaks if at all I am to work. So I was not able to work on my project in the scheduled manner.
I started to think how I can make the project more interesting and useful for the others to understand it. So I thought that I can give a brief introduction about the countries which I selected for analyzing. Then I started to collect information about Indian economy, Chinese economy, present and past India China trade relation etc. which will provide some information about the trade in both the countries. I realized the past country map when I came across the word Indo-China. That is when India and China were both combined as Indo-China. At that time they had only barter stem of trade.
Once I started to learn about the history of trade, I recognized how difficult it is to start and develop the export. Before starting the export there are many procedures to be followed by the exporter. On my point of view it is difficult to manage both the organization and the exporting activities. There should be some other manager allotted to take care of the exporting activities. So that the process can be made quick and easy for the development of the trading activities.
The process of export promotional activities is under the export councils in India. There are separate councils for each and every product. And each product councils will arrange trade fairs for their product. All the activities regarding the product and its trade are under the council, which in turn is governed by the government of India. In China the MOFCOM arranges the fairs and exhibitions. They also have the council, but the councils does not deal with a particular product, they export varieties of product which is under their control.
I came to know about the importance of Trade fairs and exhibitions only when I started to do my project. Before this I used to think why they conduct the exhibition and fairs, but now I came to know about the competition in the global market and the need of fairs and exhibitions. It not only improves the economy of the country but also increases the standard of life of the people.
For creating the awareness in the mind of people the councils are conducting the fairs and exhibition. By conducting the fairs exporter came to know about the recent trends in the market. And they try to manufacture the product similar to that type, which in turn creates a competitive market. By this I came to know the life cycle of trade activities in the global economy.
I think how the people adopt to change very easily, but once I started to work on the project I realized how it works out. The well known common example is pizza which is a food for US people has now been to India and other parts of the world this is due to globalization and it means the people also require a change in their life. And a fashion for jeans is only in countries like America and Britain, because they experience a cool climatic condition, so that type of clothing will be suited for them. But as there is a fashion in design the jeans clothing is welcomed all over the country. There is a link between globalization and export. It is a wonder to experience that fashion in one end of the world is spread all due to globalization.
I thought the project will be boring and dry as it deals with economy and export. But my assumption was false, it is really interesting to work on the topic. There are lots to know about export and its activities. Each country exporting activates is different from other country. There is lot of procedures and documentation to be followed by the exporters. The Indian government has the EXIM policy that is the Export Import policy. These policies are framed for every five years, and the exporters need to know about the policy in detail to have a clear picture of exporting.
I doubted whether the export promotional councils organize the fairs and exhibitions in a periodic manner. At that time I came to know about the handloom fair which is going to be conducted in my nearby town. So I thought to attend the fair. I was able to meet a member of the handloom council, and I heard a few words about the council, and he told me that the government is not allotting the required subsidies for the councils to take necessary improvement measures required for the council. There is much political interference for developing the councils.
It was very difficult for me to collect about the promotion council; the council were not categorized in an order. The activities of the promotional council differ from council to council. All the councils do not provide the same promotional activities. They take up the activities according to their need. The exporters suffer when the councils remain stagnant that is when they do not conduct any promotional activities for the product.
I think the council head must take the responsibility for bringing up their sector. The handloom export promotion council head must take the initiative steps for bringing up the handloom sector. The councils can arrange for the meeting for upcoming their drawbacks, so that the exports can be increased which in turn increases the economy of the country. But the export promotion council is governed by the Indian government, thus the government is responsible for the promotional council.
On the half way of my project I was feeling sick due to the climatic condition. I was very much tensed about how I was going to complete the project. Already I got delayed when my eye was affected, and I don't know how I was going to complete it. Though I was provided enough time I was not able to manage the time given to me. But determination to complete my course in time and start my career life has enough for me to get on track and complete the assigned project in time.
I find it difficult to gather details about the promotional activities of China. The Hong Kong trade development council (HKTDC) promotes not only a particular product but the products available by the medium and small scale manufacturer. In china they have region wise promotional council. The HKTDC governs the export based in Hong Kong its main aim is to promote the products of Hong Kong. It has 40 offices worldwide of which 11 are in the Chinese mainland. It strives to be the best promotional organization in the world. But the HKTDC is governed b only 19 members who have experience like the business leaders and senior officials. I think for governing more the 40 offices there is a need for some more members. As the member need to look after the overseas operation there may be a need of more members for governing the council.
The bilateral trade committees promote mutual understanding between the business committees of the two economics of the country. It promotes, expand trade, economic cooperation, exchange information and make representations to the appropriate government as and when required. But I don't think so that the bilateral committees are given that much importance as described above. The importances are not recognized by the promotional councils. The exporters must be aware of the facilities provided to them, and must try to utilize the facilities provided to them.
I found it difficult to understand and analyze the process of activities undertaken by the Chinese council. The process is completely different from Indian councils. I think the strategy followed by the Chinese council is better than compared to Indian promotional council.
Though all the councils are clubbed together they organize the fairs and exhibitions in a proper defined manner. The Chinese fairs and exhibitions are more compared to the Indian fairs and exhibitions. That is the Indian council organize only few fairs that is of more importance.
Compared to China India exports valuable goods, china exports more quantity of less valuable goods so they meet the economy. But India export valuable goods like jewel and silk, of less quantity and the economy is not meet. This causes the major differences in their exporting strategies.
I fixed up some goals for my project first the goal was how to overcome the export procedures and documentation, which is one of the major activities in exporting. And the other goal was to trace out the activities of the promotion council which will provide a better guidance for the exporters.
The export procedures and documentation activities must be categorized according to the products exported. The procedures must be made short and easier for the new exporters to enter into the market. This is my suggestion for the goal. But my second goal was not accomplished as there is no clear idea or matters on the activities of the promotional councils. I was not able to clearly define the activities of the council which will be useful for the new exporters who enter into the market.
The government provides lot of subsidies and assistance for the promotion of export. But I don't have a clear idea about how they assistance and subsidies reach the exporters for the betterment of their trade. But the manufacturer and the exporter get a better price in the international market than in the local market. I think only globalization creates an opportunity to link the manufacturer and buyer in a same market. The councils provide the members a list of buyers from across the world. They also give them the popular websites where they can find the buyers. And then the manufacturer contacts the buyer directly, quote the prices, negotiate etc. and close the deal. This is possible only due to the advancement in technology; as a result there is online trade transaction.
I was able to analyze the task in a clear manner and was able to define it in a clear manner. The project will help to understand about globalization, and the changing economy in the world trade. It gives a clear view of how the exporting activities like documentation and other procedures are carried out in an effective manner. It also gives idea about the promotional activities, promotional bureau and other promotional tasks. The promotional council must adopt the strategy according to the requirement. The procedures must also be changed as per the needs of the government.
China's modernization has helped the industry to steer up the economy towards better future. The series of updated technology has created a change in the society of China. The Chinese trade promotion bureau is the trade promotion institution by the Ministry of commerce and the role's republic of China. It is a council which provides the services like information, consultation, fairs and exhibitions, training, marketing, credit availability to the exporters and buyers. It also facilitate mutual exchange and cooperation between Chinese and foreign enterprises. But it does not give a clear idea for me how it does the activities assigned to the trade promotion bureau.
The materials which I gathered do not give me satisfactory results regarding the fairs and exhibitions. The fairs and exhibitions are conducted for the particular purpose. For example it may be a new product launch, or to discuss on some important topics like marketing growth etc. But I do not get clear information about the fair, it may be my mistake I would have not searched in a clear defined manner.
The councils provide subsidies to the products which are found in abundance and restrict the products which are in scarce. As a result the country regulates the demand by keeping the economy stead in the export. I think the export promotion council must evaluate where they are and what their core strengths. The exporters must perceive their future trade and must try to adapt to the changes in the changing trade opportunities. The need of the study is to promote the promotional strategy as it reflects the changing nature of the international trade environment.
I am sure that exporting will become one of the major and important activities in the future to be performed in all the countries. Export changes the life style of people; it gives them awareness about the product and the changing economy. It creates a drastic change in the economy of the country.
After the SWOT analysis on the export promotion councils of both countries. I think all the exporters are not aware of the benefits they get from the councils and they are not making use of their opportunity. First the government must educate the exporters about services provided to them. Thus the exporters can do their export in a successful method. The government also required to fulfill the needs of the exporter.
The project will be helpful for all the people who needs to know about export and its activities. It will be also useful to know about the export promotion councils and their activities. The two developing countries promotional activities on export are being critically analyzed. This project study will also be helpful for the new exporter who enter into trade and can serve as a good base for further researches to be taken in the future. I wish that the conclusion drawn from the study and the suggestions made will act as vital input to increase export promotional activities.