International Trade

What is for?

1. India is the world's largest democracy, with a 1.3 billion population. It is also the world’s second largest country, after China’s 1.4 billion population.

2. In the Hindu calendar, there are six seasons or ritus: vasant Ritu (spring), grishma ritu (summer), varsha ritu (monsoon), sharad ritu (autumn), hemant ritu (pre-winter), and shishir or sh*ta Ritu (winter).
And The Most Religious Countries, Ranked by Perception ]

3. There are more than 19,500 languages or dialects spoken in India as mother tongues. The country is one of the most diverse cultures on the planet with various regions corresponding to different languages and customs.

4. Shampoo is said to have been originated in India in 1800 A.D. “Champo” was first discovered by early colonial traders visiting India, together with body massage, and it was brought back to Europe under the name “champing.”

5. In 2022, India plans to launch its first manned space mission. The Indian government announced it will allocate $1.4 billion for the proiect.

6. Indian cuisine, one of world’s best-known type of food, is said to be have six types of tastes: sweet (madhura), salty (lavana), sour (amala), pungent (katu), bitter (tikta) and astringent (kasya).

Pakistan Overview
Pakistan has important strategic endowments and development potential. The increasing proportion of Pakistan’s youth provides the country with a potential demographic dividend and a challenge to provide adequate services and employment.

Pakistan’s Gross Domestic Product (GDP) growth slowed as economic policies to address the twin deficits took effect. Growth slowed to 3.3 percent in FY19—a 2.2 percentage points decline compared to the previous year, due to the stabilization measures undertaken by the authorities. Over the past year, the exchange rate was allowed to depreciate, with a cumulative depreciation of 25.5 percent, the development budget was cut, energy prices were increased, and the policy rate was raised by 575 bps. As a result, private consumption growth decelerated from 6.8 percent in FY18 to 4.1 percent in FY19 while investment contracted by 8.9 percent. On the supply side, the industrial sector growth slowed to 1.4 percent in FY19 compared to 4.9 percent in FY18. The services sector grew at 4.7 percent—1.5 percent lower than in FY18. Adverse weather conditions have dampened agricultural performance and reduced growth to 0.8 percent in FY19, significantly lower than the targeted growth of 3.8 percent. Average headline inflation increased to 7.3 percent in FY19 compared with 3.9 percent in FY18, primarily because of the exchange rate passthrough.
The Current Account Deficit (CAD) declined. The CAD narrowed to US$13.5 billion (4.8 percent of GDP) in FY19 compared to US$19.9 billion (6.3 percent of GDP) in FY18. The decline was primarily driven by lower import growth (goods imports declined by 7.4 percent while services imports fell by 14.9 percent). The largest decline in imports was for transport and machineries, because of the slowdown in investment and industrial growth, followed by food items and metals. However, petroleum related imports continued to grow (5.0 percent), albeit at a lower rate than last year (25 percent). Exports, on the other hand, did not respond to the exchange rate depreciation, as regaining competitiveness after an extended period of an overvalued exchange rate will take time. The growth in remittances by 9.7 percent year-on-year in FY19, due to higher flows from USA, Malaysia, and GCC countries, also supported the current account. The narrowing of the CAD has continued in FY20, as the CAD declined to US$1.3 billion in Jul-Aug FY20, compared to US$2.9 billion in Jul-Aug FY19. Imports declined by 23.4 percent year-on-year in Jul-Aug FY20, while exports recorded a marginal recovery of 1.4 percent year-on-year.
Aided by bilateral, IMF, and other multilateral flows, international reserves have started to recover. Financial flows had a boost in FY19 due to a significant increase in central bank deposits and bilateral inflows from China, UAE and Saudi Arabia. The approval of the IMF Extended Fund Facility in July 2019 coupled with the resumption of multilateral budget support have contributed to an increase in the international reserves to US$9.4 billion (1.9 months of import coverage) in September 2019 compared to US$7.6 billion (1.6 months of import coverage) in January 2019. The gradual accumulation of reserves is also being supported by reduced pressures on the exchange rate.

MAIN HR FUNCTION

-and-Development

Employers must provide employees with the tools necessary for their success which, in many cases, means giving new employees extensive orientation training to help them transition into a new organizational culture. Many HR departments also provide leadership training and professional development. Leadership training may be required of newly hired and promoted supervisors and managers on topics such as performance management and how to handle employee relations matters at the department level. Professional development opportunities are for employees looking for promotional opportunities or employees who want to achieve personal goals such as finishing a college degree. Programs such as tuition assistance and tuition reimbursement programs often are within the purview of the HR training and development area.

-and-Benefits

Like employee and labor relations, the compensation and benefits functions of HR often can be handled by one HR specialist with dual expertise. On the compensation side, the HR functions include setting compensation structures and evaluating competitive pay practices. A comp and benefits specialist also may negotiate group health coverage rates with insurers and coordinate activities with the retirement savings fund administrator. Payroll can be a component of the compensation and benefits section of HR; however, in many cases, employers outsource such administrative functions as payroll.

-Recruitment

The success of recruiters and employment specialists generally is measured by the number of positions they fill and the time it takes to fill those positions. Recruiters who work in-house -- as opposed to companies that provide recruiting and staffing services -- play a key role in developing the employer's workforce. They advertise job postings, source candidates, screen applicants, conduct preliminary interviews and coordinate hiring efforts with managers responsible for making the final selection of candidates.

-Safety

Workplace safety is an important factor. Under the Occupational Safety and Health Act of 1970, employers have an obligation to provide a safe working environment for employees. One of the main functions of HR is to support workplace safety training and maintain federally mandated logs for workplace injury and fatality reporting. In addition, HR safety and risk specialists often work closely with HR benefits specialists to manage the company's workers compensation issues.

The Role of Commercial Banks in the Economy. Many of us share a fairly basic view of banks. They are places to store money, make basic investments like term deposits, sign up for a credit card or get a loan.

to Get a Business Loan in 5 Step

1. Ask yourself, why do I need this loan?
Lenders will ask you this question, and your answer will likely fall into one of these four categories:

To start your business.
To manage day-to-day expenses.
To grow your business.
To have a safety cushion.

2. Decide which type of loan is right for you.
Your reasons for needing the loan

Your reasons for needing the loan will dictate the type of small-business loan you get.

If you’re starting a business, it’s virtually impossible to get a loan in your company’s first year. Lenders require cash flow to support repayment of the loan, so startups are typically immediately disqualified from financing. Instead, you’ll have to rely on business credit cards, borrowing from friends and family, crowdfunding, personal loans or a microloan from a nonprofit lender. Here’s more information on startup business loans.

To manage day-to-day expenses, you’ll want:

working capital loans, which give you money to cover regular expenses, for inventory purchases or to buy equipment;
a business line of credit, which allows you to borrow and repay only the money you need (similar to a credit card);
or invoice factoring, which provides upfront cash for your unpaid invoices.
If you want to grow your business by expanding to a new location, adding a new product or service or buying a new piece of large equipment, you’ll want:

business expansion loans, which provide a lump sum of cash that requires fixed payments. Your loan shouldn’t outlast the product or equipment you’re buying. For example, if you’re purchasing a new pizza oven that you expect to use for five years, get a loan with a term of about five years.
If you don’t need cash immediately but want a safety cushion in case of an emergency, you’ll want to get a line of credit or a term loan with the lowest rate possible. Ideally, you would get a bank line of credit long before you actually needed it, says Suzanne Darden, a business consultant at the Alabama Small Business Development Center. That way, you won’t have to scramble for cash when an emergency strikes.

Jump to our graphic with easy definitions of different types of financing.

3. Determine the best type of small-business lender.
You can get small-business loans from several places, including banks, nonprofit microlenders and online lenders. These lenders offer products including term loans, lines of credit and accounts receivable financing.

You should approach small-business-loan shopping just as you would shopping for a car, Darden says. Once you determine which type of lender and financing vehicle are right for you, compare two or three similar options based on annual percentage rate (total borrowing cost) and terms. Of the loans you qualify for, choose the one with the lowest APR, as long as you are able to handle the loan’s regular payments.

Use NerdWallet’s business loan calculator to figure out your monthly payment.

USE BANKS WHEN:

You can provide collateral.
You have good credit.
You don’t need cash fast.
Traditional bank options include term loans, lines of credit and commercial mortgages to buy properties or refinance. Through banks, the U.S. Small Business Administration provides general small-business loans with its 7(a) loan program, short-term microloans and disaster loans. SBA loans range from about $5,000 to $5 million, with an average loan size of $371,000.

Small businesses have a tougher time getting approved due to factors including lower sales volume and cash reserves; add to that bad personal credit or no collateral (such as real estate to secure a loan), and many small-business owners come up empty-handed. Getting funded takes longer than other options — typically two to six months — but banks are usually your lowest-APR option.

USE MICROLENDERS WHEN:

You can’t get a traditional loan because your company is too small.
Microlenders are nonprofits that typically lend short-term loans of less than $35,000. The APR on these loans is typically higher than that of bank loans. The application may require a detailed business plan and financial statements, as well as a description of what the loan will be used for, making it a lengthy process. Also, the size of the loans is, by definition, “micro.” But these loans may work well for smaller companies or startups that can’t qualify for traditional bank loans, due to a limited operating history, poor personal credit or a lack of collateral.

Popular microlenders include Accion Kiva, the Opportunity Fund and the Business Center for New Americans.

USE ONLINE LENDERS WHEN:

You lack collateral.
You lack time in business.
You need funding quickly.
Online lenders provide small-business loans and lines of credit from $500 to $500,000. The average APR on these loans ranges from 7% to 108%, depending on the lender, the type and size of the loan, the length of the repayment term, the borrower’s credit history and whether collateral is required. These lenders rarely can compete with traditional banks in terms of APR.

But approval rates are higher and funding is faster than with traditional banks — as fast as 24 hours. See NerdWallet’s reviews of online business lenders.

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4. Find out if you qualify.
WHAT’S YOUR CREDIT SCORE?

Your place on the credit spectrum is one factor that will determine which loans you’ll qualify for. You can get your credit report for free from each of the three major credit bureaus — Equifax, Experian and TransUnion — once a year. You can get your FICO score for free from several credit card issuers as well as personal finance websites, including NerdWallet.

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Banks, which as previously noted offer the least expensive small-business loans, want borrowers with credit scores at least above 680, Darden says. If your credit score falls below that threshold, consider online small-business loans for borrowers with bad credit or loans from a nonprofit microlender.

HOW LONG HAVE YOU BEEN IN BUSINESS?

In addition to your credit score, lenders will consider how long your business has been operating. You need to have been in business at least one year to qualify for most online small-business loans and at least two years to qualify for most bank loans.

DO YOU MAKE ENOUGH MONEY?

Many online lenders require a minimum annual revenue, which can range anywhere from $50,000 to $150,000. Know yours and find out the minimum a given lender requires before you apply.

CAN YOU MAKE THE PAYMENTS?

Look carefully at your business’s financials — especially cash flow — and evaluate how much you can reasonably afford to apply toward loan repayments each month. Some online lenders require daily or twice-monthly repayments, so factor that into the equation if that’s the case.

To comfortably repay your loan each month, your total income should be at least 1.25 times your total expenses, including your new repayment amount, Darden says. For example, if your business’s income is $10,000 a month and you have $7,000 worth of expenses including rent, payroll, inventory, etc., the most you can comfortably afford is $1,000 a month in loan repayments. You can use Nerdwallet’s business loan calculator to determine your loan’s affordability.

5. Now, gather your documents.
Once you’ve compared your options, it’s time to apply for the loans that fit your financing needs and that you qualify for.

You can apply for multiple small-business loans within a short time frame (about two weeks) without a negative effect on your personal credit score.

Depending on the lender, you’ll need to submit a combination of the following documents with your application:

Business and personal tax returns
Business and personal bank statements
Business financial statements
Business legal documents (e.g., articles of incorporation, commercial lease, franchise agreement)