Saturday, February 8, 2020
International Business Environment Essay Example | Topics and Well Written Essays - 3750 words
International Business Environment - Essay Example India is one of the largest markets in the world in terms of its size and with the growing GDP, the spending propensity too will increase within the next decade. Although there is a certain degree of political and business risks involved in Indian investments, these do not surpass that of any other developing nation. In terms of its tourism industry, the local market is equally important as the foreign tourist inflows and the industry competitiveness is currently placed in average scale though forecasted for high growth during next decade. India has changed its stance from a closed economy to a open economy with much success with a short span of time and its ranking in global trade and FDI is very promising. Many new initiatives and policy measures have been recently introduced to promote international trade and tourism industry in particular as well as creating favourable FDI climate. However the country is still saddled with bureaucratic red tape and administrative restrictions. Me mbership in WTO and being party to many regional integration agreements place India in a reliable perspective in the eyes of potential investors. The country is also extending a high regard for intellectual property rights and has already implemented WTOÃ¢â¬â¢s TRIPS agreement. Closely managed Indian monetary system is one of the key deterrence and hindrances faced by many international investors and the close scrutiny of profit repatriation needs to be noted.