Starting a business involves a high capital investment, huge risks and requires good management capability. It provides self-employment and also decreases the job crisis to some extent. Businesses involve getting goods from foreign countries, which is known as importing and transporting goods to other countries known as exporting. It also involves transaction of services, resources etc. within 2 different countries.
International business is undertaken by both private and government organizations. Private companies grab the international business opportunity to gain profit. It requires huge a number of manpower for performing various jobs. Thus provides job offers for many people.
International business helps in maintaining friendly relations between companies in other countries, exchange of resources, skills, services, market expansion and risk minimization.
When a product is of international quality everybody tends to get a good impression on those products and thus helps in marketing and sales. It helps in occupying a permanent place in the market. This helps in expanding the business, which in turn provides job opportunities to a lot of people.
Business expansion can also be done through the Internet since it is one of the fastest means to reach people in any location in the world. The details of a product, company etc. can be established in the net by creating a website. This is the most economical way of expanding sales and the easiest way for advertising.
India's growth in the international business sector is 7 percent annually. But this is expected to increase in days to come since the stock market growth has attracted the attention of other countries.
Many countries are exploring business opportunities in India, since we have skilled manpower, good services etc. Growth in the international sector can be ensured as long as the relationship between countries is stable.