INTERNATIONAL TRADE

Dr.V. POTHIGAIMALAI,

ASSOCIATE PROFESSOR,

DEPARTMENT OF BUSINESS ADMINISTRATION,

SENGAMALA THAYAAR EDUCATIONAL TRUST WOMEN’S COLLEGE, MANNARGUDI.

INTRODUCTION

The term International business has emerged from “International marketing”. International business involves transactions across the national boundaries. It includes the transfer of goods, services, technology, managerial knowledge and capital to other countries. International business has gained greater visibility and importance in recent years because of the large multinational corporations. International trade is referred to as the exchange or trade of goods and services between different nations. This kind of trade contributes and increases the world economy. The most commonly traded commodities are television sets, clothes, machinery, capital goods, food, and raw material, etc., International trade has increased exceptionally that includes services such as foreign transportation, travel and tourism, banking, warehousing, communication, advertising, and distribution and advertising. Other equally important developments are the increase in foreign investments and production of foreign goods and services in an international country. This foreign investments and production will help companies to come closer to their international customers and therefore serve them with goods and services at a very low rate. All the activities mentioned are a part of international business. It can be concluded by saying that international trade and production are two aspects of international business, growing day by day across the globe.