AND CHALLENGES. OPPORTUNITIES in the. Edited by V K GAUTAM B S BHANDARI S M ANAS IQBAL VIVEK KAPRE

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1 OPPORTUNITIES in the AND CHALLENGES Edited by V K GAUTAM B S BHANDARI S M ANAS IQBAL VIVEK KAPRE INTERNATIONAL INSTITUTE OF FOREIGN TRADE AND RESEARCH (IIFTR) EXCEL BOOKS

2 Contents Foreword Preface Acknowledgements Appreciation About the Editors Chapter 1 Chapter 2 SECTION I: ENTRY INTO THE GLOBAL BUSINESS xiu xv xvii xix xxi International Market Entry Strategies: Study of Pharmaceutical Companies 3 Dr. Justin Paul Global Participation of Indian Information Technology (IT) Industry: A Niche to Strengthen Indian Economy 11 Dr. S.M. Anas Iqbal, Dr. A.Q. Khan and Dr. M. Fayaz Chapter 3 Opportunities and Challenges in the Global Business 18 Priyanka Sehgal Chapter 4 Localization - Changes of Global Brands into Domestic Brands 24 Richa Darshan Chapter 5 FDI in India's Hotel and Tourism Industry: Its Impact on Indian Economy 29 N. Bajaj, S. Malviya and S.N. Tiwari Chapter 6 Managing Employee Benefits in International Scenario 37 Prof. Kalpana Agrawal Chapter 7 Managing Knowledge Workers - A Key Challenge 48 Vasanthi Reena Williams Chapter 8 Chapter 9 Constraints in Export of Herbal Ayurvedic Products to EU (with special reference to Germany) 52 Rajendra Jain and Dr. B.S. Bhandari Multi Branding and Brand Prototyping: The Panacea for the Combat of "Making of Tomorrow's Customers" 59 Dr. K.K. Maheshwari, Shruti Awasthi and Shikha Upadhyay Chapter 10 The Emergence of Indian Multinationals in the New Global Order 63 Ashish Gupta Chapter 11 Chapter 12 India's Economic Growth and the Role of Foreign Direct Investment 73 Bhumija Chouhan and Tej Singh Chouhan Opportunities and Challenges in the Global Business for Indian SMEs 80 Durgesh Sharma and Nitin Upadhe

3 VI Opportunities and Challenges in the Global Business Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18 Facing Challenges and Opportunities in the Global Business through Mergers and Acquisitions 84 Svetlana Tatuskar and Gazia Sayed Role of Emotional Maturity and Leadership Styles with Special Reference to Army Employed Globally 94 Dr. V. K. Gautam, Aditi Naidu and Dr. V.S. Karnik Portrayal of HR Processes as Proactive Transition Facilitator in the Dynamically Changing Scenario 102 Deepali Bhatnagar Promotional Strategies,used by different Banks in Punjab: With Reference to NRI Deposits 109 Ranjeev Handa, Dr. B.S. Bhandari and Dr. Ram Kumar Jha Foreign Direct Investment: A Lead Driver for Sustainability of the Indian Economy 117 Sneha Bajaj Globalization Demands: Cross Cultural Adaptability in Management 123 Deepa Katiyal and B.L. Malhotra Chapter 19 Nature and Structure of FDI Inflows into India 130 Ashish Pandya Chapter 20 Do Consumers in Developing Countries Gain or Lose from Globalization? 137 Aparana Khare Chapter 21 Expatriate Workforce, in India: Issues & Challenges 142 Indranil Bose Chapter 22 Foreign Direct Investment - An Impetus to Global India 148 Indrajit Bandyopadhyay Chapter 23 FDI in India and its Impact on Indian Economy 153 Dr. A.S. Pandey and Dr. M.A. Beg Chapter 24 Chapter 25 Jest Practice: An Upcoming Tool to Enlighten Work Place Environment 161 Pallavi Bhatnagar Impact of Cultural Differences in the Global Market with Reference to Tea Exports 168 Raksha Thakur Chapter 26 Decision Making Skills in Global Leaders and Managers 175 Sayed Murtaza AH Chapter 27 BIG vs BIG: A Boost for United States Cross Border Area Retailers 181 Dr. Gouher Ahmed and Dr. Mohammed Akbar AH Khan

4 Contents Chapter 28 Chapter 29 Chapter 30 Chapter 31 Chapter 32 Chapter 33 Chapter 34 Chapter 35 Chapter 36 Chapter 37 Chapter 38 Chapter 39 f Chapter 40 Chapter 41 India: A Catalyst in Global Restructuring 188 Dr. G.D. Gidwani and Dr. Pratima Jain IT - Outsourcing in India: SWOT Analysis 193 Smritijain, Shwetajain Challenges in Global Advertising: Neo Cultural Mooring and Global Advertising 200 Sandeep Singh and Dr. A.K. Sapre Gender Role in Advertising: A Study of Print Media 205 Vijaylaxmi Iyengar, Neha Chauhan and Vivek Sapru Emergence of IndianTelecom Industry in Global Business due to Liberalization 215 Astha Bhanot Challenges in Global Brand Advertising 221 Ambika Goyal SECTION II: LOGISTICS FOR INTERNATIONAL BUSINESS Reverse Logistics in Industrial Maintenance: A Competitive Advantage for Global Business 229 Mahesh Pophaley Management of Resources by Implementing ERP 236 Swati Sood and Yogita Mandhanya Influence of Quality Certification on Managing Global Supply Chains 243 Dr. Lakshmi Jagannathan The Role of ICT in Logistics for Promoting Competitive Advantages of the Firm 250 Pooja S. Kushwaha Challenges and Opportunities in Global Supply Chain Management 257 SaifSami and Dr. Salma Ahmed Role of ICT in Helping Indian SMEs withstand the Challenges Posed by Globalisation 262 Nihit Bansal Supply Chain Management: A Collaborative Approach towards Accuracy and Real-time Data 268 Avinash S. Desai and Dr. Anand Sapre Opportunities and Challenges in Global Logistics and Supply Chain Management (GLSCM) 272 Prof. KG. Garg - ^ vu

5 viii Opportunities and Challenges in the Global Business SECTION III: FOREX MANAGEMENT (TREASURY MANAGEMENT) Chapter 42 Mutual Fund Indian Investor's Delight 283 Dr. P.K. Dutta Chapter 43 The Impact of Credit Risk on Performance of Scheduled Commercial Banks (Public Sector Banks, Indian Private Banks and Foreign Banks) 297 Manmeet Singh, Dr. R.KVyas and Ravindra Yadav Chapter 44 International Banking: Comparisons and Perspectives 304 Rekha Jain and Saurabh Jain Chapter 45 Foreign Exchange Market and Economic Changes in India 310 Anamika Dang, Madhura Jauhari and Deepesh Agrawal Chapter 46 Forecasting of Dollar-Rupee Exchange Rate with the help of Macro Economic Factors 316 Swati Khatkale Chapter 47 Foreign Direct Investment (FDI) in Emerging Economy: A Study 324 Dr. Pralhad P. Rathod Chapter 48 FII Flow in Indian Stock Markets and the Index Returns: A Causality Analysis 328 Suddhasanta De Chapter 49 Indian Banking - 'Towards the New Horizon" 335 Parul Saxena and Amber Tiwari Chapter 50 Volatility of Underlying Asset on the Performance of Dynamic Hedging 341 Faiz Mohammad Chapter 51 Role of External Commercial Borrowings 347 Prashant Raman Chauhan Chapter 52 Future of Foreign Exchange Market in India 353 Ankita Sharma, Pushpendra Singh and Ashish Kumar Pandey Chapter 53 Post 1991 Banking Reforms & its Impact on Indian Economy. 359 Dr. B.S. Bhandari and Kiran Vijay Panchal Chapter 54 Emerging Issues in Financial Innovations with Special Reference to Indian Financial Market 370 Dr. Shefali Tiwari and Final Agrawal SECTION IV: SPECIAL ECONOMIC ZONES (SEZ) Chapter 55 Special Economic Zones in India: Lessons from China 379 Dr. P. Arunachalam Chapter 56 Special Economic Zone: Boon for Economic Development 398 Pratima Jain and Dr. Deepak Shrivastava

6 Contents * ix Chapter 57 Special Economic Zones - Colonization in a New Form: With Special Reference to Pithampur (MP-India) 405 Shraddha Sharma and Neha Sharma Chapter 58 Special Economic Zones: Prospects and Hurdles in India 410 Navneet Kaur Bhatia Chapter 59 Role of SEZ in Development of States 415 Poornima B.G. Chapter 60 Private Participation in SEZ 421 Sri Ranjini S. Chapter 61 Special Economic Zones: Investment and Employment 427 Dr. J.H. Vyas, Imran N. Siddiqui and Jay K. Dewangan Chapter 62 Special Economic Zone in India and China 432 Chapter 63 Chapter 64 Dr. Shuchi Srivastava, Pratima Jain and Deepak Shrivastava SECTION V: IMPACT OF WTO The Indian Pharmaceutical Industry, Innovation, Intellectual Property Regime Post-WTO 441 Dr. Kavita Mathad Management of Small Enterprises under WTO with Special References in N.E. Region 448 Dr. Balin Hazarika and Dr. Bipul Sharma Chapter 65 WTO and Indian Agriculture 457 Dr. Ram Kumar Jha, Pradeep Kumar and Tattwamasi Paltasingh Chapter 66 WTO and International Marketing Avenues: Asian Tiger under WTO Umbrella 466 Namita Singh Chapter 67 WTO and Indian Agriculture and Allied Industries 478 Dr. Ila. A. Thanki, Dr. Bhavna R. Keshwala and Dr. V.R. Godhania Chapter 68 Customer's Post Dissatisfaction Behaviour: A Review of Research 488 A. Dhanalakshmi and A. Latha f. Chapter 69 The Impact of WTO on Small and Medium Enterprises with Special Reference to Patenting Rights 493 Dr. R. Balasubramaniyan Chapter 70 India's Agriculture and WTO: Commitments and Implementation 499 Manikant Dubey and Siddharth Verma SECTION VI: GLOBALIZATION OF EDUCATION AND CHALLENGES AHEAD Chapter 71 Globalization Globalization of of Research Research Methods Methods 513 Prof. B.K. Passi Chapter 72 Lateral Thinking: A Success Mantra in Globalized Era Dr. G.D. Gidwani and Dr. Shraddha Ashapure 517

7 Chapter 73 Opportunities and Challenges in the Global Business Six Sigma in Education: An Initiative to Develop Total Quality Students Dheeraj Mehrotra and Raksha Thakur Chapter 74 Profit Provision of Higher Education in the Context of Globalization 527 Abha Herur Chapter 75 Impact of Globalization on Job Opportunities for Differently Abled Persons 531 Nandita Chatterjee Chapter 76 Ageing Gracefully in India 536 Anjum Ahmed and Aftab A. Ansari Chapter 77 Chapter 78 Impact of Globalization on Special Education for Differently Abled Persons 543 Prachi Tiwari, Chitra Parashar and R.P. Pandey A Study of Para Language Skill to Improve Teaching for Differently Abled Person 549 Sangeeta Chourey, H.K. Jain and Poornima Joshi Chapter 79 Preparation of Budding Generation for the 21st Century 554 Dr. H'.K. Jain and Shweta Chauhan Chapter 80 Chapter 81 UN Convention on Disabilities and Integration of World under International Law 560 J.P. Gadkari and Vijaykant Towards Sustainability: Integrating Life Skill Education with Curriculum 563 Meenakshi Trivedi and Pratima Barman Chapter 82 Higher Education in Global Era 568 Dipesh Agrawal, Col. R.C. Sarin and Tar ana Koshal Chapter 83 Impact of Globalization on Special Education for Mentally Retarded Persons: An Analytical Study of their Behaviour and Activities 576 Dr. Sojitra Jamkuben Chapter 84 Unfolding Challenges of Teacher Education for Sustainability 581 Pratima Barman and Meenakshi Trivedi Chapter 85 Women's Education as a Tool for Rural and Global Development 585 Dr. R.P. Pandey, Archana Goyal, Prachi Tiwari and Dr. Renu Jha Chapter 86 Education in 21st Century: An Indian Perspective 589 Bhavna Prajapati Chapter 87 Globalization and Challenges in Teacher Education 594 Prof. P. Basava Kumar and Prof. C. Hop Chapter 88 Role of Co-curricular Activities for Sustainable Education 597 M.R. Joshi, P.R. Prajapati and KB. Joshi 522

8 Contents * xi Chapter 89 Sustainable Education System in the 21st Century 600 Bhavna R. Dave and Smita R. Dave Chapter 90 Identification of Gaps in Management-education in the Army (With Special Reference to the Mechanized Infantry) 605 Dr. V. K. Gautam, Dr. D. Kaul and Dr. P. K. Gupta Chapter 91 Open Book Test: A New Concept of 21st Century 611 S.R. Joshi, K.S. Garasia and B.S. Solanki Chapter 92 Profit Provision of Higher Education: View and Review 614 D.K. Parekh, H.L. Rathva, B.CSSolanki Chapter 93 Service Quality in Technical Education: A Conceptual Study 619 Karuna Jain, Dr. Sangita Jain and Dr. V.K. Jain Chapter 94 Chapter 95 Chapter 96 School Education at Senior Secondary Level: A Study of Satisfaction - Dissatisfaction Continuum 626 Swati Aidasani and Dr. V.K. Jain A Study of the Trainees' Requirements According to Maslow's Doctrine in Teachers' Training College 633 Ila P. Virani Sustainability of Education System in the 21st Century through E-learning and M-learning 640 Chitra Parashar, Prachi Tiwari and Ram Prakash Pande Chapter 97 WTO, GATS and Concerns of Higher Education in India 644 Dr. Aditi Dubey and Dr. Anjali Mishra Chapter 98 Value Based Education through Knowledge 650 Dr. Seema Kohli Chapter 99 A Case Study - Intellectual Disability: A Challenge to a Mother and a Family 655 Indrani C. Chakraborty and Meenakshi G. Trivedi