Lee introduced CIA’s World Factbook of the Country Comparison System, where a na

Question

Lee introduced CIA’s World Factbook of the Country Comparison System, where a nation’s GDP at purchasing power parity (PPP) can be compared from https://www.cia.gov/library/publications/resources/the-world-factbook/rankorder/2001rank.html#in. Dr. Lee also introduced The Economist, Intelligence Unit System where each country can be explored by its politics, economy, risk, regulations, business, and industry from http://country.eiu.com/AllCountries.aspx. Suppose that you’re a global marketer who wants to export your product to one of the BRICS countries and in the progress of your country analysis using the two resources noted above. Please summarize the useful information you found about the country. And provide your logical explanation why you think the information is important and useful for your exporting activities within the country.

Explanation / Answer

The BRICS country that I want to export to is INDIA.

The CIA’s website shows that India’s GDP at purchasing power parity to be at $9,447,000,000,000. This is as per 2017 estimates. India has the fourth highest GDP (on the list) and is only behind China, European Union, and United States. This information is highly useful as it has established the attractiveness of India as an export destination. Its GDP at purchasing power parity is higher than that of Russia and Brazil – the other two BRICS countries.

The Economist’s website provides comprehensive qualitative as well as quantitative information with regards to India’s economy, its politics, its regulation environment, its industries and its business environment. Forecast updates, analysis, long term outlook, charts and tables, information with regards to credit risk, regulatory assessment, position with regards to corporate and personal tax, trade policies, market opportunities and business environment and comprehensive information about different industries like energy, automotive, consumer good etc. are the useful information that I found.

The provided information is highly useful for my exporting activities within India as it has enabled me to determine the size of the Indian market and the potential it holds for my export venture. I have been able to create a demand forecast and a revenue forecast for my venture using the provided information. I have also been able to determine the taxation and tariffs that my products will be subjected to. The information on regulatory environment has also helped me to ascertain the different trade licenses and permissions I will have to take and how much time will I need to set up my venture after completing all formalities.

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