MSME ministry to organise export procedure workshop

The ministry of micro, small and medium enterprises (MSME) will organise a two-day programme (November 23-24) on export documentation and procedure, which will present an overview of opportunities in the business of exporting castings, forgings and engineering components.

The programme will take place in Faridabad, in the National Capital Region, at the MSME Technology Development Centre, according to a bulletin on the website of the Federation of Indian Micro, Small and Medium Enterprises (FISME).

The export business requires special documentation depending upon the type of product to be exported and the destination. Export documents not only give details about the product and its destination port, but are also used for the purpose of taxation and quality control certification, according to the website.

It said that the programme will help exporters understand that export documentation is far more than just shipping paperwork, and includes all the important records of an international transaction. It will explain the need to use the correct trade terminology, clearly define the transfer of interest and liability, select the right method of payment and send the best quotation possible, all of which are are key to effective exporting.

After the sale has been made, proper and timely selection, preparation and distribution of documents are also essential. Documents used in international trade are a reflection of the understanding of the agreement between the seller, the buyer, and third-party service and regulatory agencies, according to FISME.

It added that the programme will help develop the documentation skills of MSME exporters, whose vital role in exports is indicated by the fact they contribute 40 per cent of India's total exports.