Sessions on ITPD course started off today with around 40 students anxiously trying to understand the concepts of International Trade Procedures and Documentation. The sessions were very interactive, students trying to bring in the issues related to procedural bypassing of certain companies like SPEAK ASIA which by having the formation of company n Singapore managed to bypass FEMA laws and fleece the investors in India. Such discussions highlighted the loopholes and vulnerability of the exiting company laws related to companies which have used these procedural cracks to launder money internationally.
However the main focus of the sessions revolved around the importance of understanding the international trade procedures and documentation which can probably ensure strong technical skills and knowledge of international trading which can be really helpful for the students to enter into an international business career. It was highlighted that a person well versed with the ITPD can prove to be an intelligent and prudent international marketer and negotiator capable to signing favorable business contracts with least ambiguity and by ensuring happiness of the buyers overseas.
It was also a focus of the discussions that there are number of areas and steps where strong understanding of ITPD is essential. These areas range from company formation to dealing with local and foreign governments as also dealing with an array of govt. agencies during the course of international trade transactions.
In order to understand the steps involved in exporting a real life situation was given to the students to discuss the course of action which is required. The situation was well understood by the students who came forth energetically to discuss the issues and challenges involved in exporting an off track product. Several interesting alternative for export models emerged from the discussions and debate among students. The true story situation related to export of ‘pan’ by a famous Pan Wala from Delhi after he floated his website and he started getting enquiries from rich NRIs living all over the world. The challenge involved related to packing of the products, logistics, dealing with the customs, airlines, food regulatory agencies, foreign laws, documentation, payment realization from the customers, risks management, inspection of the export consignments etc. Students gave valuable solutions and identified possible procedural obstacles. The situation was well debated and brought out practical insights into steps and reasons of procedures and documentation involved in international trade transactions.
Student seemed to be very responsive and ready to take off to higher level of understanding of the subject.