In almost all the products, for which the pre-shipment inspection scheme has been introduced, great care has been taken to accept the buyer’s requirements, wherever known, as the basis of inspection. In many cases, where the buyer’s requirements are known through-an approved sample of, for example, footwear or handicrafts, inspection is carried out on the basis of the approved sample. However, for items involving safety, such as cables and conductors, only the national standards, either Indian or those of the importing country, have been adopted. In the case of commodities involving ...

In today’s sophisticated world market, a product can move with any measure of success only if it is competitive enough in price and quality. Our export can be sustained and improved only be raising the quality of our product as it would be very difficult to reduce the price in our present day high-cost economy, with a view to achieve this objective of raising the quality of our export products, the Government of India enacted the legislation entitled “The Export (Quality Control and Inspection) Act” in the year 1963, and the Export Inspection Council was also set up with effect from 1st ...

Counter trade constitutes an estimated 5 to 30 percent of total world trade. Counter trade greatly proliferated in the 1980s. Perhaps, the single most important contributing factor is Least Developed Countries (LDC's) decreasing ability to finance their import needs through bank loans. Counter trade, one of the oldest forms of trade, is a government mandate to pay for goods and services with something other than cash. It is a practice, which requires a seller as a condition of sale, to commit contractually to reciprocate and undertake certain business initiatives that compensate and benefit ...