World Trade Organization – Objectives, Functions,Structure,Benefits and Drawbacks

World Trade Organization  The Uruguay round of General Agreements on Tariffs and Trade (GATT) (1968-93) gave birth to World Trade Organization (WTO).  World Trade Organization was formed as a replacement for General Agreements on Tariffs and Trade in 1995 with the purpose of supervising and liberalizing international trade.  Unlike GATT, World Trade Organization is a permanent organisation which has been […]

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Liberalization – Need and Measures for Liberalization

Liberalization Liberalization of the economy means to free it from direct or physical controls imposed by the government. It refers to the removal or reduction of restrictions or barriers on the free exchange of goods between nations. It is the relaxation of existing or previous Government restrictions usually in areas of social, political or economic policy which results in greater participation of […]

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Globalizaton – Meaning, Parameters, Features, Conditions, Types, Process, Advantages and Disadvantages

Globalization Globalization means integrating the economy of a country with the economies of other countries under conditions of free flow of trade and capital and movement of persons across borders. IMF defines globalization as “The growing economic interdependence between countries through increasing volume and variety of cross-border transactions in goods and services and of international capital flows and also through […]

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World Bank-IBRD-Membership, Objectives, Organizational structure, Capital Structure, Functions, Criticism, India and the World Bank

International Bank for Reconstruction and Development – World Bank   The International Bank for Reconstruction and Development (IBRD) commonly referred to as World Bank, is an international financial institution whose purposes include assisting the development of its member nation’s territories, promoting and supplementing private foreign investment and long term balance growth in international trade. World Bank was established in July […]

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Export Promotion measures in India – EPZ, FTZ, SEZ – Meaning, Objectives and Benefits

Export promotion measures are public policy measures taken by the government of a country to potentially enhance the exporting activities and employment of that country. In India, a number of export promotion schemes have been in existence for some time which promote the industries that have a potential for developing and competing with foreign industries. A good example of export promotion in […]

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Multinational Corporations – MNC

Multinational Corporations (MNC) – MNC`s are huge business organizations which extend their business operations beyond the country of its origin. They are multi-product and multi-process enterprises who extend their business activities in various countries through a large network of industries and marketing operations. A MNC can be simply defined as a company which owns or controls production facilities in more […]

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Non Banking Financial Company (NBFC) in India – Role and Importance

Non Banking Financial Company (NBFC) A Non Banking Financial Company is a financial institution that does not have a full banking license and facilitates bank related financial services.  It means – (a) A financial institution that is a company (b) A Non-banking institution that is a company whose principal business is the receiving of deposits (c) Such other institution registered […]

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Securities and exchange board of India – SEBI

The Securities and exchange board of India – SEBI was constituted on 12th April, 1988 as a non-statutory body through a resolution passed by the Government of India for dealing with all matters relating to development and regulation of securities market, protect the interests of investors and advice government on all these matters. It was given statutory powers on 30th […]

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Price control – Meaning, Objectives, Measures, Tools

Price control is a regulatory mechanism used by the government to achieve the social-economic goals of the country by supplementing efforts with direct and indirect control instruments. Price controls are simply government restrictions on prices of goods and services in the market. It is a regulatory tool that aims at controlling the prices of commodities in order to maintain availability […]

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