Rice Importers in India

Rice Importers in India

1. As soon as the wave of Globalisation and Liberalisation washed over the world, there was an industrial
renaissance that took place. Corporations from all across the world realised that they could make and/or
save a fortune by outsourcing their production, and supply needs to different parts of the world. In
simple terms, they could get people from other countries to do something for them at a much cheaper
rate than their home countries, because of lower costs in the foreign developing nations. Soon,
production units started springing up in various Asian countries namely China, Vietnam, India,
Bangladesh and the list goes on. Another perk which globalisation brought along was that now
everything could be made available everywhere, for the right price. Thus, imported goods like German
cars, Italian Clothing, French perfumes, American packaged foods, electronic items soon started flooding
the markets of many developing nations. Both of these, and many other factors drove the foreign trade
businesses to the Moon!
exporters in india directory
But as the corporations increased their footprints across the globe, they were made subject to stricter
and more foreign regulations and laws. Every country they worked in had a different set of laws, and
thus legislative tussles often proved to be expensive. Thus, International Commercial Terms, also known
as Incoterms were formed. These are shipping terms which help define the roles and responsibilities of
exporters and importers in a trade deal, as they clearly demarcate the activities to be performed by
exporters and importers. These activities include paying the freight/shipping charges, loading and
unloading of cargo, getting insurance cover for the goods, paying customs and excise duties, among
other things. Incoterms are universally accepted, recognised, adhered by all the signatory member
countries of the International Chamber of Commerce( ICC ). Incoterms are usually incorporated into
Proforma, and Commercial Invoices used for the trade deal, or any other contractual document which
holds importance in that deal.
Rice Importers in India
Some popular Incoterms are:

- Ex-Works( EXW ): Under this Incoterm, the exporter has to handover the goods to the importer at his
premises, which can be the exporter's factory/warehouse etc., as will be agreed upon by both the
parties. Such goods are due for export clearance, and the importer has to take the complete
responsibiity and also bear the costs of getting the goods from the exporter's premises to his own
country, and to his own premises. Under this Incoterm, the exporter's risk is the minimised.
Spices Exporters in India
- Free Alongside Ship( FAS ): Previously known as Free On Wharf( FOW ), under this Incoterm the
exporter has to deliver the cargo to the port nominated by the importer. That port may or may not be
the port of departure, as there may be ports behind main port of departure in case of countries with
strong inland waterways connectivity.

- Free On Board( FOB ): This is perhaps the most popular Incoterm used in Foreign Trade Logistics. Under
this Incoterm, the exporter is responsible for delivering the goods to the named port of shipment and

2. loading the goods onto the arriving ship nominated by the importer. Once the goods are loaded on the
buyer's appointed ship, all costs and risks shift from the exporter to the importer. The exporter is under
the obligation to prepare all the necessary export-import documents, take care of customs clearance
and logistics cost involved in activities before the container is loaded on to the ship.
Chemical material products Exporters in India
- Cost Insurance Freight( CIF ): Under this Incoterm, the exporter is liable for making goods available at
the nomiated port of destiantion by the importer, but not unloading them from the ship. The exporter
needs to bear the costs of loading the cargo on the ship, paying for the freight, and paying for the
insurance cover on the cargo. Once, the ship reaches the destination port of the importer, the
responsibilty of the exporter ends, and the risk is transferred to the importer. The importer then needs
to do all the necessary custom compliances and also pay for unloading the goods, customs clearances,
and transportation from the port to the importer's premises.
Petroleum Products Exporters in India
There are various Incoterms, which are used in foreign trade like Cost and Freight( CFR ), Free Carrier(
FCA ), Delivery Duty Unpaid( DDU ), Delivery Duty Paid( DDP ) etc. If you want to learn more about these
Incoterms, you can refer to the book International Trade Logistics by Ram Singh, which we have referred
to for writing this piece. Also, there are some fantastic Youtube videos on the same, which you could
check out.