International-Business-Dr-R-Chandran-E-book

10
International Business- Dr. R. Chandran
“made in China” and “Japan” & “made in India”. Businessmen from
India, China and Japan bring credentials to their country. When
L.N.Mittal operaters in Indonesia or Kazakhstan or Trinidad he is
perceived by the people as Indian. The stigma cannot be detached.
8. Foreign trade policy and targets
All developing countries announce their trade policies. A clear road
map is drafted and given to promotional bodies so that timely
implementation is possible. Every trade policy in India, in the past had
its agenda and action plans right from import control order in 1947.
All the trade policies had three fold objectives in their agenda-
production promotion and competitiveness.
9. National targets
By the year 2010, India aims to have a 2% share of the global market
from the current level of 1%. By the year 2009-10, our trade status
should cross $ 500 billion.
10. WTO and international agencies
The apex body of world trade, the WTO, a free, transparent and regulatory
body upholds provisions related to the elimination of tariffs and non-tariff
barriers. The International Bank for Reconstruction and Development
(IBRD), popularly called the World Bank extends financial assistance on a
soft loan basis in order to assist developing countries in their infrastructure
and industrial development. The International Monetary Fund (IMF)
maintains currency stability in various countries through regulatory
mechanisms. Many more organizations like International Maritime
Organization, International Standard Organization, International
Telecommunication Union, International Civil Aviation Organization are
major catalysts to promote trade between nations. Over the past few years
their role in promotion of trade, especially amongst developing economies is
unprecedented.
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