Abstract: International trade is the exchange of goods and services across national boundaries. It is the most traditional form of international business activity and has played a major role in shaping world history. It is also the first type of foreign business operation undertaken by most companies because importing or exporting requires the least commitment of, and risk to, the company’s resources. For example, a company could produce for export by using its excess production capacity. This is an inexpensive way of testing a product’s acceptance in the market before investing in local production facilities. A company could also use intermediaries, who will take on import-export functions for a fee, thus eliminating the need to commit additional resources to hire personnel or maintain a department to carry out foreign sales or purchases (Daniels and Radebaugh, 2004). International trade in services has grown over the past decade at an annual rate of about 18 percent compared to that of approximately 9 percent for merchandise trade. Trade in services constitutes 25 percent of overall world trade in 2004 (WTO, 2004a). In some countries, such as Panama and the Netherlands, services account for about 40 percent or more of total merchandise trade. Typical service exports include transportation, tourism, banking, advertising, construction, retailing, and mass communication.
The vast majority of organizations, institutions, governments, academics, business managers, owners, politicians, and researchers have repeatedly underlined the importance of the existence of SMEs for every country. A large number of empirical research studies focused on the subjects of: a) the most important problems that SMEs face in their efforts to survive and grow in the highly competitive business arena, and b) the export procedure of SME.
In the era of globalization Foreign Trade has become the lifeline of any economy. Its primary purpose is not merely to earn of foreign exchange, but to stimulate greater economic activity. The Export Import policy of a nation must be of a competitive and facilitative nature that helps in nurturing local enterprises as national champions and enables them to compete globally and become world champions. The better understanding of the Export Import policy is essential for a Chartered Accountant because being a service provider for the business communities; they can ensure better compliance of law and provide valuable suggestions for improvement and strengthening the policy as well
Exports have played an increasingly important role in India’s economic growth in the last two decades. This paper analyses the performance of India’s exports and the various economic factors which have contributed to its growth
Keywords: export performance, manufacturing sector, export competitiveness, trade policy reforms Small & Large Economies, Exchange Rate, Exports, and GDP.
Title: India’s Export – Import Procedure and Documentation Impact Economic Growth Rate of Multinational Companies
Author: Obaid-Ur-Rehman
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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