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    Aarush Gupta
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    17 views20 pages

    BST 10

    Uploaded by

    Aarush Gupta

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 20
    International Trade CBSE Sy International tr be After going through this unit, the student/ learner would be able to: rade: concept and benefits After goin e » the student/ learn Id be abl “ Export e MES Nesting and procedure Understand the concept of international trade Describe the scope of international trade to the nation and busines 1 Inport Trade - Meaning and procedure re firms. a inte in International ge Sate the meaning and obj f d earmegrcels fe lavenaion mS meaning and objectives of export trade. i, shipping jg Explain the important steps involved in executing export trade. #, shipping bi ia g bills, mate's receipt (DAY ge Discuss the importat velop an undersanding. ofthe various documents used in ; the meaning and objectives of import trade. World ne steps in i dade OFGimization (WTO) nt steps involved in executing import trade. meaning and objectives wo international 1s Identify the specimen of the various doc rade ‘uments used in international wade. fm Highlight the i swith internation: Scare the meaning of Discuss the objectives o rernational trade. — —o portance of the doctments needed in connection al trade transactions World Trade Organization. f World Trade Organization in promoting Perea eee BUSINESS ‘penance Enepving Say JOTE Orr Sac pn rot DEL Eel ile components. His factor Mr. Happy Manchanda is a small manufacturer of eae 4 oo ane = plant eal locad Gurgaon and employs about 55 workers with an investment of AV MY Te A At Ae mihi Due to recession in the domestic market, he foresees prospects of | ‘onal. Some of kis aaa in the domestic market. He is exploring the possibility of going internacional. Some of his compa are already in export busines. A casual talk with one of his close friends in the tr business ree gt there is a substantial market for automobile components and — ruth-East Asia and East. But his fiend als tes him, “Doing busines internationally is not the same as carrying outhaing within the home country. International business is more complex as one has to operate under mae conditions that are different from those that one faces in domestic business”. Mr. Manchanda is, mor, not sure as to how he should go about setting up international business. Should he himself identify yg ‘contact some overseas customers and start exporting directly co them or else route his products thang export houses which specialise in exporting products made by others? Mr, Manchanda’s son who has just returned after an MBA in USA suggests that they should st y a fully owned factory in Bangkok for supplying to customers in South-East Asia and Middle Fax, Serting up a manufacturing plant there will help them save costs of transporting goods from Ind, This would also help them coming closer to the overseas customers. Mr. Manchanda is in a fixasw what to do. In the face of difficulties involved in overseas ventures as pointed out by his friend, b is wondering about the desirability of entering into global business. He is also not sure as to wht the different ways of entering into intemational market are and which one will best suit his purpox Introduction Countries all over the world are undergoing a fundamental shift in the way they produce and i various products and services. The national economies which so far were pursuing the goal of self are now becoming increasingly dependent upon others for goods and services. Due to increased cross border trade and investments, countries are no more isola Prime reason behind this radical change is the development of communication, technology in etc, Emergence of newer modes of communication and development of faster and more efficient transportation have brought nations loser to one another. procuring as well as supplying various nas yoann Mrfataring and trade beyond the i al or exter tundaries of one’s oy herefare, be defined 1 unt is known as international business. weston I business can, th eal frontiers. Tt involves not only ned as tho the Anternatio, se business activities that ce place across the jqtemational trade comprises exports trademarks, knowhow and copyrights, fecause goods are tangible, Items of visi tach gehandise (goods). It is also called ‘visible trade’ ema €: moveme: Top Tip ofiternational business. But of ate the

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