Labeling is an important element for products for exporting/importing a container out of/into the country. Primarily, labeling is the technique of identifying the cargo during the operation till the cargo touches the importer’s doorstep. The label on the consignment also gives information about how the package or product should be used.
Labeling on the product provides the following important information:
• Shipper’s mark
• Country of origin
• Weight marking (in pounds and in kilograms)
• Number of packages and size of cases (in inches and centimeters)
• Handling marks (international pictorial symbols)
• Cautionary markings, such as “This Side Up.”
• Port of entry
• Labels for hazardous materials
In terms of the Ministry of Commerce notification dated November 24, 2000, all pre-packaged commodities (intended for direct retail sale only) imported into India must carry the following declarations on the label:
So compliance with the above-stated requirements must be ensured before the import consignments are cleared by Customs in India.
Do note: Pre-packaged food products meant for institutional use do not require the MRP, but a ‘Not for Retail Sale’ declaration on the label is required.
The marginal cost of capital (MCC) is the total combined cost of debt, equity, and…
The weighted average cost of capital (WACC) is the average rate that a business pays…
The Reserve Bank of India (RBI) defines a personal loan as a type of unsecured…
A share is a unit of ownership in a company and has an exchangeable value…
The cost of debt is the interest rate a company pays on its debt, and…
This article explains the assumptions and key aspects of approaches to capital structuring, including the…