Every concern is trying to expand its business by entering external markets. More companies that engage in international business are involved in exporting and importing than in any other type of business transaction.
Foreign Trade is becoming increasingly significant in the present environment.The application of information technology, liberalisation of domestic economies and combining of world trading systems under the aegis of World Trade Organisation have resulted in a dramatic shift in the way international business is being conducted.
India is forging ahead as one of the economic powers of the globe and this is possible because of the concerted efforts of Trade, Industry and Government.
Trade propels growth of economy and domestic development. The direct purpose is not the mere earning of external exchange, but the stimulation of greater economic activity. Foreign trade policy plays a critical role in the promotion of trade .
The policy is based on two major objectives
- Double the percentage deal of global goods trade within the incoming five years.
- Effective driver for economic growth giving a thrust to employment generation.
No comments:
Post a Comment