A number of institutions and organizations have been established to meet the requirements of industry and trade. The fields in which these institutions have been active included development of export management personnel, market research, export credit insurance, export publicity, organization of trade fairs and exhibitions, collection and dissemination of market information, pre-shipment inspection and quality control, development in packing etc.
Brief review of the activities and functions of some of these institutions is given below:
Indian Institute of Foreign Trade:
Some of the principal activities of the institute are the following,
It provides training of high standard, short term and long term, for executives and personnel employed in trade and industry, export houses, export organizations, government departments, government trading corporations and Indian embassies and consulates abroad, for developing specialization in the techniques, methods and procedures of international trade.
It sponsors selected from industry and trade, export houses, government departments, trading corporations, etc for higher training abroad in export management and export techniques and for acquiring first hand knowledge of the techniques and procedures adopted by advanced countries in export marketing.
It plans, organizes, undertakes sponsors and commissions marketing research and area surveys in foreign countries in accordance with a planned program in order to ascertain the characteristics of the overseas markets and consumer preferences, assesses the current and potential demand for Indian products, and determines the scope and the techniques to be adopted for an increased absorption of Indian products in these countries. It also undertakes commodity studies within the country with a view to locating new products or developing new uses of existing products with export potential and drawing up long term plans for their development, processing and export.
The institute undertakes and sponsors practical as well as fundamental research on various problems of international trade. Besides its own research programs, the Institute undertakes research into problems referred to it industry and trade and the government.
It provides consultancy to business firms in matters relating to foreign trade.
The institute disseminates information through its quarterly journal â€œForeign Trade Reviewâ€ and reports on various products and market studies undertaken by it. Its monthly â€˜Foreign Trade Bulletinâ€™ seeks to disseminate information on new decisions and developments affecting Indiaâ€™s foreign trade.
The India Trade Promotion Organization (ITPO) has come into effect from 1-1-92 with the main objective of promoting exports and imports and up-gradation of technology through the medium of fairs to be held in India and abroad to undertake publicity through the print and electronic media, to assist Indian companies in product development, to organize programs, buyer-seller meets, contact promotion programs for specific products in specific markets. The India Trade Promotion Organization provides information and market intelligence to the business community in India. It also organizes visits of buyers and trade delegations to industry and trade establishments in India with a view to promote business contacts.
The India Trade Promotion Organization is a service organization and has close and periodical interaction wit the trade, industry and Government. It serves the industry by entering into comparatively less explored markets, provides information and support for participation in fairs, for developing exports of new items, and gathers and disseminates improved trade related services.
ITPO has four foreign offices located at New York, Frankfurt, Tokyo, and Dubai. The major activities of ITPOâ€™s foreign offices include:
* Provide necessary inputs to Head Office and Regional Offices for various ITPO activities.
* Assist in fixing appointments and business meeting for Indian exporters traveling abroad.
* Sponsoring buying delegations to India.
* Generation of trade enquiries and dissemination of trade information.
* Collect latest information on fashion trends, pricing, distribution channels, standards, specification, drawings etc.
* Mobilization of foreign participation for trade fairs being organized in India.
* Provide assistance in space booking, custom clearance and other arrangements like stand erection, decoration etc for trade fairs being organized by ITPO in their region.
* Publicize the ITPO participation in International fairs in their region by direct mailing, telephone contacts, press conference, etc.
* Invite buyers, government officials and the representatives of industry associations, etc to India pavilion at various fairs in their region.
* Follow-up of the enquiries of buyersâ€™ visit, and Indiaâ€™s participation in trade fairs abroad.
* Feedback on Indiaâ€™s participation in international trade fairs, trade delegations, arrange buyer seller meets, India promotions and other export developmental activities.
* Procurement of samples for product development and adaptation.
* Assist in setting up of joint venture and promote up-gradation of technology in India.
* Arrange visit of designers, experts, consultants etc for product development and adaptation.
* To liaise with Government offices, industry associations, chambers of commerce, standards institutions and other similar organizations.