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Market Penetration:
Indian entrepreneurs have to constantly bear in mind the fast changing trade trends and re-orient their strategies to derive higher yields by way of larger shares in the markets and better unit value realisation by means of higher levels of quality and value-added products. The three-pronged thrust on their part would call for:
• a relentless attempt at recovering the lost ground by wresting a larger share in the world markets for sectors of traditional strength like tea, spices, jute, leather, mica and other miscellaneous agro-based products;
• a concerted move for maintaining and enhancing the momentum gained by commodities like oil meals, basmati rice, marine products; and
• a sustained focus being kept on the sectors which have lately fared well-chemicals, engineering components, jewellery, fabrics, handicrafts, and software. As a matter of strategy, it is also being suggested that the Government should open up the domestic market. Once their existence in India is threatened, the larger Indian companies will start looking at the global market.
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Modem theories of trade
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