If you have Brazilian coffee in your kitchen , German chocolate in your refrigerator and French perfume in your dressing table then you are experiencing the impacts of International trade
International trade grants access to countries all around the map to lay out their market’s goods and services. Countries trade internationally or globally on services or goods they can manufacture efficiently, that is , more quickly and at a lower cost. If a country can not produce an item efficiently it can obtain it from another country through global trading
The two customary expressions in the International market are IMPORT and EXPORT.
The product that is sold to the global market is called export and the product that is bought from the global market is called import.
INDIA is one of the world’s ever increasing economies just after China .
The annual growth rate of India in the global market is more than 8%.
India is considered as the TREASURE TROVE for international trading as it is full of business opportunities.
The leading goods that India exports in the global market are :
- Petroleum oils (14.6%)
- Diamonds (7.9%)
- Medicament (4%)
- Jewelry products (3.8%)
- Rice (2.3%)
Now, most significant importing goods of India are:
- Coal and similar solid fuels (4.8%)
- Petroleum gas and other gaseous hydrocarbon (3.7%)
India has pulled off a monthly value of merchandise exports in June 2022 amounting USD 37.94 billion and that is an increase of 16.78% from previous valuing.
Global marketing provides several opportunities to the countries to grow financially by eradicating the hindrances of boundaries.
In businesses, the global market allures financial durability by providing them with potential clients across the globe and not just in the confined boundaries of the country.
A country or a business can be financially secured after swotting the strategies of INTERNATIONAL MARKETING.