Category: Trade

Chinese market is a huge one and expanding at a fast rate. In 2002, Chinese imports were $ 295 billion compared with Indian imports of $56 billion. It is for this reason that even countries like USA are eager to strengthen their trade ties with China.Studies show that there is vast scope for expansion of Indo- Chinese trade. To avail of this opportunity, however, India would have to learn the reasons for rapidly expanding Chinese foreign trade and its ability to attract huge amounts of FDI.Currently, both India and China are actively engaged in expanding their mutual trade. Government of India and Indian business community are both participating in this venture. previews.123rf.com ADVERTISEMENTS: FICCI has established links with China Council for Promotion of International Trade (CCPIT), and has opened an…

Television is one of the latest inventions of science. It is only since late 1970’s that the television has become an indispensable household gadget in the developing countries.However, television has become the most popular pushing behind all other mass media. It helps disseminate knowledge and information among the entire global population. The prominence and utility of the television has risen with the development of satellite links which enables telecasting live programmes from all corners of the world.The presence of a television in a home has both advantages and disadvantages. Advantages are not far to seek. News feature, for example, has the added advantage of visuals which show to the viewers the fury of nature in form of tremors and earthquakes, floods and famines, as also the ravages of war, the…

Labour, as we all know, means work. What do we give an accent to this word and say dignity of labour. We can recall different kinds of work – from the physical labours of a farm-hand to the white-collar job as an executive in a large organisation. The highly placed executive, after years of successful career, begins to attach much dignity and self- respect to his job.If he has travelled for years in a car, he thinks it is below his dignity to travel in a bus. One cannot expect such a person to do the job of an attendant even when it necessitates him to carry his own luggage. Though it may not affect any other individual, yet there is something in human about his sense of dignity and…

From (Company Name) (Address) (Date)To The Manager (Company Name) (Address)Dear Sir, ADVERTISEMENTS: Our business dealings with you have been almost a year old now. So far we have been buying goods from you on cash basis, but now we would like to place this order on charge account with bimonthly settlement. Our Order No. ____________ for gift items with their rates is enclosed. You may check our credit status and rating with our bankers ____________(Name), ____________ (Bank Name and Address).You may also check our financial soundness with ____________ (Name), the General Manager, ____________, ____________ (Company Name and Address). We may give you a couple of more very good trade references if you so like. Image Source: c2.staticflickr.comWe look forward to your early and favourable response. ADVERTISEMENTS: Yours faithfully, (Your Name)…

Barriers to trade have existed since time immemorial. To begin with, it was the natural barriers in the form of mountains, seas, rivers and geographical remoteness. But continuous innovation in transportation has helped to overcome this problem. The biggest obstacle to trade now is the man- made.Despite national trade policies marching on to be outward-oriented, in the global trade it is global to find significant trade barriers to protect a country’s market from intrusion by foreign firms. All nations apply barriers, obstacles or trade impending factors – the difference is only that of degree. “Protectionist barriers to economies are what steroids are to athletes – a temporary fix and a long-term disaster.” Image Source: b2b498fa173fe1c8c461-97707f5c7d17291ba358946428536a09.r5.cf2.rackcdn.com Protectionism ultimately hits the protectionist. The National Trade Estimate Report on Foreign Trade Barriers has…

The relations between the two have become an issue to watch for the world especially’ after they exploded their respective nuclear powers in 1998.The world gets on the edge whenever there is a tension between the two, as was the case after the terrorist attack on Indian Parliament in December, 2001, or after the November, ’08 terrorist strike in Mumbai – it can always trigger a nuclear conflict between the two neighbours. The terrorist attack on November 26, 2008 has caused renewed tension in Indo-Pak relations. ADVERTISEMENTS: The fear of military confrontations was high but sanity prevailed and the crisis defused. Earlier, Pakistani trained terrorists had struck in Jaipur (May, ’08), Bangaluru (July, ’08), Ahmedabad (July, ’08), New Delhi (September, ’08), A few of the terrorists were home-grown belonging to…

(a) A suit by a guardian for the custody of his ward;(b) A suit for damages for infringement of a trade mark;(C) A suit against a corporation;(d) A suit for mesne profits; ADVERTISEMENTS: (e) A suit for specified performance of a contract of sale of immovable property; and(f) A suit for a tort.(a) A suit by a guardian for the custody of his ward may be brought in the court of the place from where the ward was removed or at the place to which the ward was removed. Image Source: scfamilylaw.com ADVERTISEMENTS: (b) A suit for damages for infringement of a trade mark may be brought in the court of the place where the defendant resides or in the court of the place where the defendant publishes advertisements constituting…

“Under the Hindu Jurisprudence there was only a law of prescription and now no Law of Limitation as such. For the acqui­sition of title by prescription, a period of 10 years was laid down by certain smriti writers, though others differed regarding the length of the period.The main occupation of the people being agriculture and there being very little of commerce or trade, concentration was more on the land and the rights therein. This was the position not only in Hindu society but also in other countries; thus in England, before the James Statute of 1623 there was no specific law of limitation.Before 1858, two systems of law of limitation were administered by the Courts in India. In the territories within the original jurisdiction of the Courts established by Royal…

Important Salient Features of the Consumer Protection Act, 1986 are given below:1. The Act provides speedy redressal to consumer complainants. The Bill provides for setting up of a Consumer Redressal Forum in every district, a commission at the state level and the National Commission at the Centre. The Forum in the District will have original jurisdiction to redress complaints up to claim of Rs. 1 lakh (after amendment up to 10 lakhs).The State Commission will be original jurisdiction to settle claims up to the amount Rs. 10 lakhs (after amendment 20 lakhs). The National Commission can entertain any claim for damages above Rs. 10 lakhs (after amendment above 20 lakhs). The State Commission will be vested with appropriate Appellate and Revisional powers. ADVERTISEMENTS: 2. To promote voluntary consumer movement and…

1. Condition is a term which is essential to the main purpose of the contract. Warranty is only a collateral term. It is subsidiary to the main purpose of the contract.2. Breach of a condition gives the aggrieved party a right to repudiate the contract. It also creates a right to get damages. Breach of warranty entitles the aggrieved party to claim damages only.3. A breach of condition may under certain circumstances, be treated as a warranty. But a warranty cannot become a condition. Image Source: alarabrecruiting.com Implied Condition and Warranties: ADVERTISEMENTS: A stipulation (or term) in a contract of sale of goods may be express or implied. Express terms are those which have been expressly agreed upon by the parties. Implied terms are those which have been enacted in…