Principles of International Business Management Essay - 1

Principles of International Business Management - Essay Example The ICT services sector is the fastest growing sector in the country, with software development, ITES, BPOs and call centres earning good deal of foreign exchange. Combined with low labor costs, highly skilled manpower and good investments in human capital India is fast exploiting the opportunities of the global economy. India has signed treaties with its neighbors and other countries in the Asian region and streamlined its trade with these countries with the help of Asia-Pacific Trade Agreement, ASEAN and SAARC. But India’s main exporting arena remains the EU and America, as it gets good value for its products and services from these nations. India’s export figures for 2005-06 are US $ Million 103,090.54, while import figures are, US $ Million 149,165.73 (Govt. of India, 2007). The gap between import and export is not much compared to the situation prevailing in pre-liberalization era. During those days India’s exports used to be miniscule in comparison with its imports. But now the manufacturing industry has come to age, while clothing and items like pearls, stones have remained its forte for quite a while now. India’s export to EU Countries stand at US$ Million 23,120.38 as per the Government of India figures (2007). Main components of this export include; Imports to India from the EU nations on the other hand stand at US$M 25,704.03, while from North America this figure is US$M 10,374.61. This shows the edge in favor India in merchandise trade. India has signed bilateral and multilateral agreements to promote economic development through a continuous process of trade expansion, in the form of ‘India-EU Strategic Partnership1, US -India Trade Policy Forum and India-United States Commercial Dialogue2 to further the cause of the trade and industry requirements. The French economy is considered a developed economy as compared to

Legalization of marijuna Essay Example | Topics and Well Written Essays - 750 words

Legalization of marijuna - Essay Example A professor of economics at California State University suggests that the legalization of marijuana would have considerable positive economic consequences. The taxation and regulation processes involved with decriminalization would provide the federal government with $6.2 billion worth of tax revenues (Grammy 2). When adjusting for inflation, this total increases to over $8 billion (Grammy 2). For just one state, California, legalization is estimated to be an opportunity to produce an additional $151.8 million (Grammy 2). Another economist significantly inflates the aforementioned projections, suggesting that in California alone, legalization would provide the state with between $1.5 billion and $4 billion of new tax revenues (Wolff 2). These are significant improvements in the strength of state level economies which, under current prohibitive economic environments, are not achievable through any reputable taxation program. Additionally, marijuana prohibition under the current nation al drug enforcement policy is considerably expensive. In Alaska, these costs total $24 million (Bates v). None of these costs have been able to be compensated for with grants or imposed fines associated with marijuana consumption. A professor of economics at Boston University estimates that in Massachusetts, the costs of enforcement equal $120.6 million (Miron 1). The state-level expenditures for enforcing marijuana prohibition are paid by taxpayers, which represents a burden for hard-working Americans that must service enforcement programs whether or not they agree with the policies. These are significant state-level costs that could easily be avoided by legalizing the substance. Furthermore, the criminal justice system is fraught with problems associated with prison over-crowding, which also imposes costs on society and state/local budgets. Many local jails and prisons are at maximum capacity, continuing to be a problem as non-violent offenders arrested for marijuana production an d consumption contributes to this problem. The estimated costs of police protection under the prohibitive policies are $2.55 billion annually (Grammy 2). Judicial and legal costs under this policy are estimated at $7.76 billion annually (Grammy 2). Furthermore, the total cost of national corrections is projected to be $776.2 million (Grammy 2). These are rather outrageous costs that are imposed that could be better allocated to more socially-centric programs such as violent offender rehabilitation or other preventative programs that would provide better protections to society against violence. Taxpayers should not be financially supporting these inflated and rather ridiculous costs that are incurred for a policy that is largely ineffective. The White House, however, is a stoic opponent of legalizing marijuana, despite the aforementioned financial gains that could be incurred through legalization. The Office of the President believes that legalization would do little to prevent furth er drug violence. The White House is firm that members of drug cartels would simply attempt to create an undercutting pricing structure to ensure they maintained their long-standing market share on marijuana sales (ONDCP 3). Drug cartels are usually involved in violent behavior and, under the White House’