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Global business

How are the national policies interrelated? In formulating the national policies the government tries hard not to have policies that override each other. Therefore, the policies support each other in reinforcing whatever plans that the government had earlier. This is achieved by involving all the stakeholders in formulating the policies.

However, when the government gets in partnership with other international bodies such as the European Union to formulate a strategy development plan, the policy may contradict the national policy because international bodies normally also have their main objectives which may not be in line with the government ones. (Philips & Wainwright, 2005) Conclusion In order to foster international business it is important for a country to have well defined economic development plans that will ensure a health business atmosphere.

As international business in India continues to grow, the country is being faced with a lot of challenge that comes with global business. Though, the government has formulated strategic plans to ensure that the country’s human capital, infrastructure, health and education is enhanced, the large Indian population and its diversity creates a major challenge to the government.

Reference:

Department of commerce (2007): India’s strategic policies; retrieved from; www. commerce. nic. in/PressRelease/pressrelease. Accessed on 11/10/07 Hill C. (2005). Global business today, 4th Ed. New York: McGraw/Irwin Kamm, J. B et al (2004): International marketing strategies, Connecticut Lee, K and Carter, S. , (2005), Global Marketing: Changes, New Challenges and Strategies. 1st Edition, Oxford Press. Philips, C. H. & Wainwright M. D. (2005) India: Policies and Perspectives; editions, London: Allen and Unwin, Planning Commission, Government of India (PCI) (2006): Tenth Five Year Plan, Chapter 8, Policy Imperatives and Programmatic Initiatives, 2005-2006