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International business is used to define the business transactions which happen in one place to another. It talks about the part of transactions, profit and political reasons. In India, international business comes with all the possibilities. In India, the growth in business sector is more than 7% annually and there is a high and better scope of improvement if the neighboring countries stabilize.
For international business in India,
There are following sectors which have high potential:
Research and development
Banking, insurance, finance sections
Agriculture and food industry
International business helps in globalization as well to expand the business, to increase the technology part, to expand the market and to compete with the competitor’s as well as to provide the services to global countries.
There are several advantages like:
Think internationally: participating in the process and build the relation creates a thought process high and maintain a positive relationship as well as increase the knowledge and demand of the latest demand.
Protection of your brand and product at any cost: the product, the brand you are talking about is really matters a lot and it is really trustworthy. The size of your product, the brand appearance, the looks, the image and reputation as well as the rights which your brand possess and the standards of that brand volumes and so on.
It helps in stay secure and be safe in an insecure world.
It helps in keeping the data safe and secure as well as reliable and helps in maintaining the data with high goals and achievements.
For example: In case of china, China is still very competitive globally in terms of freight cost, lead time and labor productivity. China have strengthen its country’s intellectual property (IP) regime because strong intellectual property regime will increase the growth and promote the development of technical capabilities in this country by attracting foreign investment and transfers of technology.
Sourcing has proved the business in creating a successful way, today there is better possible results which could be seen from sourcing and which was not possible yesterday.
It makes the work easier and creates low cost. In terms of Asian countries, company have to pay very low budget and they do the job and business. People outsource the work because of high advantage and high benefits. Outsourcing to Asian countries especially China, India, Philippines, Korea, and Japan generated good thing for business. For various genuine reasons, industry decides to outsource the operations, jobs and manufacturing. They experience lack of in-house expertise and cost-effectiveness. The Quantitative easing make most of the Asian currency appreciates against USD: USD value when compared in Asian countries is very less and they low volume and low value to US. The conversion of money in US and Asian countries is very easy. In countries like Japan, Malaysia, china, India, Singapore, Vietnam and Korea have low value of USD. China is launching its 12th 5 years plan. Transforming from export oriented economy to consumption oriented economy. Pursuing high value added activities which no longer low cost manufacturing base especially the coastal area. The increased labour cost has prompted speculation that global electronic makers for consumers considers moving their factories to neighboring countries where the wages and compensation of employees are lower such as in India, Vietnam, Indonesia and Thailand. In china, there are low labour costs but they have sound infrastructure, huge domestic market and high quality and labour sills.
Thus international business includes several advantages in terms of increasing the revenue in low cost and generates high profits.
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