The Pharmaceuticals Export Promotion Council of India (Pharmexcil) will conduct a two-day certification course on ‘Export Import Management’ of pharmaceutical products on May 4 & 5, 2016 at Indore, Madhya Pradesh (MP) to provide knowledge about various aspects of international trade, to help the exporting members to understand the complexity of international trade documentation, procedures, FEMA guidelines and different payment mechanisms.
The council has already successfully completed the same course in Mumbai and Baddi in Himchal Pradesh. The two-day course in Indore is also expected to educate the member companies about various stages of exports and imports in a systematic and methodical way.
The two-day course will cover topics like institutional support and role of Director General of Foreign Trade (DGFT), Reserve Bank of India and ECGC. It is also expected to focus on basics of exports and mode of transportation such as sea, air, rail and road. For providing insights into the aspects of registrations and certifications, topics like importer exporter code (IEC) and RCMC etc will also be taught during the course.
For instance the course will help to understand how the registration cum membership certificate (RCMC) is issued. The current procedure for furnishing RCMC information is manual. IEC holder submits the RCMC certificate in physical form to concerned regional authority. RCMC details are keyed in into DGFT IEC database. As a part of G2G message exchange initiative, it is now decided to exchange RCMC information electronically through EDI with Export Promotion Councils (EPC). This will provide accurate and updated information about RCMC and also reduce the hardship to trade as furnishing of physical copy of RCMC will be dispensed with.
The course will also discuss topics relating to shipment terminology, payment terms, important export regulations under FEMA, export documentation, shipping documentations, licensing requirements under drugs and cosmetic act, export finance, high seas sales, topics relating to trade credits, risks, factors affecting exchange rates, etc.