Tag: globalisation and the indian economy

The Coca-Cola Company, which is headquartered in Atlanta, Georgia, is an American multinational beverage corporation, and manufacturer, retailer, and marketer of nonalcoholic beverage concentrates and syrups. The company is best known for its flagship product Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton in Columbus, Georgia.

Honda Motor Co., Ltd. is a Japanese public multinational conglomerate corporation primarily known as a manufacturer of automobiles, aircraft, motorcycles, and power equipment.

Nokia Corporation, stylised as NOKIA, is a Finnish multinational communications and information technology company, founded in 1865. Nokia is headquartered in Espoo, Uusimaa, in the greater Helsinki metropolitan area.

The Securities and Exchange Board of India (SEBI) ) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992. It was established by The Government of India on 12 April 1988 and given statutory powers in 1992 with SEBI Act 1992 being passed by the Indian Parliament.  SEBI has its headquarters at the business district of in Mumbai, and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai and Ahmedabad respectively. 

Developing economies often rely on imports of essential raw materials and industrial inputs like copper, zinc, and fertilizers to support infrastructure and agricultural growth.

It should be noted that under the cumbersome provisions of GATT (General Agreement for Tariff and Trade) India could not open up its agriculture sector for international trade. India’s exports were mainly confined to traditional items like spices, tea, coffee etc., which were having very low demand elasticity in the international market.

 Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets.

India imports 35% of its petroleum requirements from foreign. Petroleum comes from Iran, Kuwait, Iraq and Saudi Arabia. In 2004-05, petroleum worth Rs. 134095 crore were imported.

Ford Motors re-entered Indian markets in 1995 and spent Rs. 1700 crore to set up a large plant near Chennai. This was done in collaboration with Mahindra and Mahindra, a major Indian manufacturer of jeeps and trucks. 

Prior to Independence, India's foreign trade was mainly confined to Britain. But now the table have turned. At present, India has maximum imports from and exports to European Union, Role of Japan, U.S.S.R., USA and Organisation of Petroleum Exporting Countries (OPEC) in  India's foreign trade has increased substantially.

Consumer Protection Act, 1986 is an Act of the Parliament of India enacted in 1986 to protect the interests of consumers in India. It makes provision for the establishment of consumer councils and other authorities for the settlement of consumers' disputes and for matters connected therewith.