Discuss briefly various initiatives outlined in the annual supplement 2005 to the foreign trade policy, 2004 - 09
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In the fast changing international trading scenario, outsourcing of manufacturing activities in the skill intensive sectors has become and essential business strategy for the developed countries. India with its large skilled work force, growing domestic market, raw material availability and the emergence of a mature supply base id set to gain enormously from this trend since the Indian advantage goes well beyond the low wage rates. While there is no doubt that knowledge based industries such as information technology offer India a smooth route to world markets.
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International trade is the trading of products and enterprises between nations. This kind of exchange offers to ascend to a world economy, in which costs, or free market activity, influence and are affected by worldwide events.
Trading universally gives buyers and nations the chance to be presented to products and enterprises not accessible in their own particular nations. Relatively every sort of item can be found on the universal market: food, garments, spare parts, oil, gems, wine, stocks, currencies, and water.
An item that is sold to the worldwide market is an export, and an item that is purchased from the worldwide market is an import. Imports and fares are represented in a nation's current record in a balance of payments.
Trading universally gives buyers and nations the chance to be presented to products and enterprises not accessible in their own particular nations. Relatively every sort of item can be found on the universal market: food, garments, spare parts, oil, gems, wine, stocks, currencies, and water.
An item that is sold to the worldwide market is an export, and an item that is purchased from the worldwide market is an import. Imports and fares are represented in a nation's current record in a balance of payments.
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