India’s Foreign Trade
Q1) What does foreign trade refer to and why is it important for any country to participate in foreign trade. State which guiding factor and reform measures can the Government of India leverage to further boost the international trade prospects of India’s agriculture sector.
Q2) Essence of international trade lies in comparative difference rather than absolute difference in cost. State the rationale, assumptions, limitations and advantages of this doctrine in International Business. How does this lead towards international specialization?
Q3) Explain the three rules for any organization to decide on its choice of entry strategy in International markets.
a. An International food company wishes to enter India to start their operations.
b. Suggest the choice of entry strategy and which of the three rules they should follow.