OPTIMUM CURRENCY AREAS

OPTIMUM CURRENCY AREA {OCA} also known as optimal currency region is a geographical arena which is meant to maximize economic efficiency in order to have entire region to share single currency.It describes the optimal characteristics for the mergers of currencies or the creation of a new currency. The OCA may be larger than a country for example creation of euro zone was that the individual countries of Europe did not reach to form an optimal…

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Logistics Hub: Govt to renovate non-functional ports

The transportation service is planning an arrangement to resuscitate a few of the nation’s 133 non-practical ports as a major aspect of a move to urge merchants to utilize India’s unlimited 7,500 km coastline for transporting nearby cargo. The service has arranged an idea note for shaping exceptional reason vehicles by Shipping Corporation of India and Dredging Corporation of India with state governments and private operators,said an authority conscious of the improvement in the logistics…

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Transportation, Globalization and International Trade

The globalization of creation is associative to the globalization of exchange as one can’t work without the other. Regardless of the possibility that universal exchange (or long separation exchange since there were no countries in the advanced sense) has occurred hundreds of years, as antiquated exchange courses, for example, the Silk Road can affirm, exchange happened at a regularly expanding scale throughout the most recent 600 years to have much more dynamic influence in the…

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Anti Dumping

Before elaborating anti dumping, we need to know about dumping first. In general terms, dumps mean deposit or dispose (unwanted materials…) typically in a careless way or in a hurried way. Let’s take a general example if we dump unwanted materials into an ocean then surely the quality of water get degraded and it affect directly flora and fauna of ocean and the whole ecological balance get disturbed. Now come to specific definition of dumping,…

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National Manufacturing Competitiveness Program [ NMCP ]

Manufacturing Sector  aims to bring momentum in ICT based Industrial Revolution Manufacturing Sector accounts about 64% India’s Export with 1.32% Global trade. With Globalization and liberalization in early 1990s India progressively deepening in global economy. Enhancement and promoting ease of Manufacturing is being continual demand to compete at world stage export and import goods. Currently India’s large skilled manpower pool attaining new dimension globally to meet the manufacturing sector needs. To harness the opportunity special…

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Duties and Responsibilities of Import Export Manager

Duties of Import Export Manager  They ensure that shipment is done in accordance with the  rules and regulation of Import and Export. They also hold counseling for clients who are having dilemma about insurance, tariffs and quotas. They make categories of the shipment according to tariff coding system. It also deals with making pace and discussing with custom agents to ensure shipment is done through customs. They also guide client on how to reduce taxes and duties  owed. Major role of these professionals lies in managing shipment of goods. They track the location of shipment. They  use best and  most economical method to prepare for goods of the shipment. They also deals with warehousing, transportation or distribution of goods. They helps the inventor to decide the amount of insurance over the shipment. Requirements for this position Most positions require a bachelor degree for this post or an experience of five years Computer and management skills are also required for this position. Proficiency in other language is also desirable Certified professional is preferred Click here for government certification in Foreign Trade

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TRADE based on ABSOLUTE ADVANTAGE

According to Adam Smith, trade between two nations is based on absolute advantage when one nation is more efficient than the other in the production of one commodity but is less efficient in the production of another commodity then both nations can gain by each specializing in the production of the commodity of its efficiency and exchange part of its output with the nation for the commodity of its less efficiency. By this process, there…

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Difference Between BOT and BOP

Difference Between BOT and BOP

What is the major difference between BOT and BOP? This article will focus on the basic concept of Balance Of Payment (BOP) and Balance Of Trade (BOT). WHAT IS BOT? It is the difference between the money value of exports and imports of material goods(includes visible items and merchandise). Clearly, the 2 transactions which determine BOT are exports and imports of goods which determine BOT. Exports and imports of invisible services such as shipping, insurance,…

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Pillars of MSME

Innovation, Economic Growth and New Employment Generation- Pillars of MSME “MSMEs Needs People Innovative Mindset for Inclusive growth and lead the Nation on path of Economic Boom”    Throughout the World, MSMEs are the engine of economic development. A MSMEs constitute over 90% of total enterprises in most of the economies and are credited with generating the highest rates of employment growth and account for a major share of industrial production and exports. In India too, MSMEs…

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