There is no denying the fact theta they would economy is becoming global in character barriers to trade between different countries have been reduced to a great extent. India which is also a member of the world trade organization (WTO) has also removed most of the barriers 10 trade which has paved the way for free competition. Many foreign multinational corporations have brought technology and capital into India and are now competing among themselves and with the Indian firms. Several Indian firms have opened their subsidiaries in foreign countries and have also entered into alliance with local companies in foreign countries.