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Separate Administrative Set-up for Exports:
It may be worth examining the setting up of Foreign Trade Board, similar to what obtains in Japan (JETRO) and South Korea (KETRO). Further, a professional cadre for export may also be created as a part of the administrative services in the form of an Indian Foreign Trade Service (IFTS). Candidates specialising in export services will need to be trained in a whole range of professional skills such as international marketing, export incentives and investment management, export administration and regulatory implications. There is a need to develop synergy between large-scale sector and small-scale sector.
The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product. For example, the quantity demanded
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Severe drought hit the coffee industry hard this year; as a result, more people are now switching to tea. The first table below shows the original supply and demand quantities in t
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INTERNATIONAL DEVELOPMENT ASSOCIATION: International Development Association (IDA) is an affiliate of the IBRD. It was established in 1960 to provide "soft loans" to economica
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Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu
Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are o
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