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The government is looking at ways to simplify procedures and reduce transaction costs for the country's exporters and a task force will submit its report on the issue by June-end, Minister of State for Commerce and Industry Jyotiraditya Scindia said in New Delhi on Tuesday.

The Federation of Indian Export Organizations on Monday urged the banks to cut down charges to bring down transaction costs for exporters and help them counter the sluggish global market demand and price sensitive markets.

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What is dumping in international trade? Dumping is, in international trade, a situation where the price of a product when sold in the importing country is less than the price of that product in the market of the exporting country. For example, dumping occurs when a product from country A is sold in domestic market at price X but is exported to country B at price Y (Y < X). According to WTO, this can be considered as an "unfair competition behavior" by foreign producers, foreign exporters towards importing country's domestic manufacturing industries. Anti-dumping cases and the following anti-dumping measures (if any) are a way to limit this kind of behavior. What is anti-dumping duty? Anti-dumping duty is the most widely used anti-dumping measure. It can be imposing on products which is investigated and determined that it being dumped into the importing country and cause material injury to the country's domestic manufacturing industries. Basically, this is an import duty, charged in addition to normal customs duty, can be apply on imported products which is the object of the decision of application of anti-dumping duty. What is an anti-dumping case? An anti-dumping case is a procedure consists of four steps: Initiate - Investigate - Conclude - Apply Anti-Dumping Duty (if any). This procedure will be proceeded if there is reason to suspect that a product is being dumped injuriously. Despite being called a "case", it is not a judicial procedure, but an administrative procedure is carried out by the importing country's administrative authorities. The aim of this procedure is to settle the dispute between the domestic manufacturing industry and the foreign producer, foreign exporter. It is not concern the governmental relationship between the two countries. Because this procedure and other related issues are carried out in a similar way to the conduct of a judicial procedure, it can be seen as a "semi- judicial procedure". Also, if disagree

The Legal Metrology Act defines certain rules and regulations for the trading of products of weights and measures. Certain specific standards of the metrology act are to be followed by every business that deals in import, export, selling, or trading of products of weights and measurement. Department of consumer affairs under the Ministry of Consumer Affairs defines the standards, rules, and regulations of this Act. Obtaining this license is mandatory as non-licensed firms may have to face heavy penalties. This Act also benefits the company as it reduces their transaction cost, it helps them prevent any unlawful trading of products, it helps them to reduce technical barriers and makes the trading smooth, and builds consumers' trust. So get your company your legal license and avoid any penalties. Consult an expert now!