These days corporate world is extremely competitive with everyone out to maximize profits and expand at a minimum cost. The result is that manufacturers have become exporters, and trading firms and MNCs are taking advantage of enhanced opportunities in an expanding market, growing resources and a widening customer base. This foreign business orientation has both increased the scope of business for Indian companies and extended their operations. They produce according to the market, establish channels of distribution, buy insurance and deal with customs authorities while facing the challenges of the new world trade order.
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