INDEXSr. No. Title Author Subject Page No.

1 The Balanced Scorecard: As A Performance Measurement System

Dr. Vinod K. Ramani Accountancy 1-2

2 Corporate Mergers and Acquisitions: Legal, Accounting and Strategic Issues

Mira J. Bhanderi Accountancy 3-4

3 Morphometric analysis of the Sisi river basin, North-East India and some geo-environmental implications

Dr. Uttam Goswami Applied Geology

5-6

4 Careful Evaluation of CARE’s Performance Dr. Bheemanagouda Commerce 7-8

5 Advertisements on Passenger Cars - An Innovative Idea for Outdoor Advertising

Dr. Sangapa Rampure Commerce 9-10

6 Knowledge Management And Knowledge Process Outsourcing

Dr.Santos Singh Bais Commerce 11-13

7 A Study on Micro, Small and Medium Enterprises, Using Sms Marketing as a Tool

Dr.S P. Mathiraj, Mr Anil B. Malali

Commerce 14-16

8 Economic Value Added Dr. Kishor V. Bhesaniya Commerce 17-20

9 CHALLENGES IN COMMERCE DUE TO GLOBALIZATION

Mr. T. Kalimuthu, Dr. R. Ganapathi

Commerce 21-23

10 Estimating Reliability of Component Based Software Using Artificial Neural Network

Mr. Harish Rathod , Mr. Mahesh Parmar, Miss. Rekha Teraiya

Computer Science

24-26

11 Foreign Direct Investment (Fdi), Special Economic Zones (Sezs) And Economic Developments In India: An Empirical Study

M. Marimuthu Economics 27-29

12 Environmental Impact On Agriculture: WTO And Indian Economic Reforms

Dr.Shivasharanappa Dhaba

Economics 30-31

13 Study of regional rural water supply scheme-Kutch Niketa Patel Economics 32-34

14 An Overview of Indian economy of Unemployment in Depression

Dr. Dilip Arjune, Dr. Pawar Ashok S.

Economics 35-37

15 Kendriya Aarthsankalp 2011-12 and 2012-13 ke Tulnatmak Adhayan

Dr. Pawar Ashok S., Dr. Sunita J. Rathod, Shri. Budhwant R.G.

Economics 38-42

16 ADEPTS: Innovative Self-Evaluation Technique for Teachers

Dr. Pawar Ashok S., Dr. Vishal Tayade,Dr. Sunita Rathod

Economics 43-44

17 Bharatiya thet parikiy gunvantkiye dhoran Dr. Pawar Ashok S. Economics 45-48

18 European Euro Sankat and Vyaparchakrache Jagtik Parinam

Dr. Pawar Ashok S., Dr. Sunita J. Rathod, Umare Vilas Devchand

Economics 49-52

19 Higher Education in India: An Appraisal Dr. Sukhwinder Singh jolly

Education 53-56

20 An Investigation on test Anxiety In L2 Learners S. Gandhimathi , Dr. R. Ganesan

Education 57-58

21 Organizational Commitment and Self esteem of Faculty Members of Secondary Level Teacher Training Programme in Mysore

Mr. Moslem Cherabin, Dr. Praveena K. B.

Education 59-61

22 Comparative Analysis on Various Coded Cooperaative Networks

Pallavi Ingle Electronics and Communication

62-64

23 Effect of Plasma Arc Cutting Speed-voltage On the Unevenness of Hardox-400 Material

A. A. Darji, S. P. Patel, J.V.Desai

Engineering 65-67

24 Design and Simulation of High Speed,Low power Preamplifier Based CMOS Comparator

Gireeja Amin Engineering 68-70

25 Analysis of box culvert considering soil structure interaction

M.G. Kalyanshetti,S.V. Malkhare

Engineering 71-74

26 Soil erosion & Advance Techniques of Soil Conservation Manish Gujarati,Prof. H. M. Gandhi

Engineering 75-77

27 Cotton Crop Performance and Economics under Drip Irrigation at Various Water Application Levels

Jignesh. A. Shah Engineering 78-80

28 Cotton Crop Response to Thermal Regimes under Surface Irrigation at Stress Free Water Application Level

Jignesh A.Shah Engineering 81-82

29 Simulation of Line and Phase Voltages of Inverter Using Switching Function Concept

Prachi M. Palpankar, A.Y.Fadnis

Engineering 83-85

30 Microgrid : A Planning Based on Renewable Sources In Amravati District

Shweta. L. Tiwari, Dr.R.M. Moharil

Engineering 86-89

31 “Phenomenological Modeling of Four Stroke Compression Ignition Engine Processes”

V. M. Makwana Engineering 90-94

32 Designing Aspects of Cryogenic Attachment For Uv/Visible Spectrophotomer

Yagnesh B. Chauhan, Hardik B. Patel, J.M.Patel, Dr. U.S.Joshi

Engineering 95-98

33 Comparison Of Conventional 60/70 grade of Bitumen with CRMB60 for Roads

Zala Kartik S., Mandowara Nirajkumar P., Prof. C.B.Mishra, Dr. F.S.Umrigar

Engineering 99-100

34 Modelling And Analysis of Faults In Wind Based Doubly-Fed Induction Generator

K. Keerthi Deepika,A. Srinivasa Rao

Engineering 101-104

35 Multipoint Hand Gesture Recognition Using Robotic Arm Control

Nishant Madhukar Labhane, Prashant Harsh, Meghan Kulkarni

Engineering 105-107

36 Assessment of Sediment Distribution Hiral Shah, N. N. Borad, R. K. Jain

Engineering 108-111

37 Review and Analysis of Drought Monitoring and Management

Patel Jaydeepkumar J., Prof. G.V.Dihora

Engineering 112-114

38 Flow Forecasting of Tapi River At Mandvi Station By ANN Gajjar Kamleshkumar Hasmukhbhai,Prof. H.M.Gandhi

Engineering 115-118

39 Implementation of Digital Watermarking by Combined Transform Domain Algorithm for Copyright Authentication using Matlab

Raval Keta J., Mrs. Sameena Zafar

Engineering 119-121

40 Use of Rubber Dam In Tapi River Front Development At Surat City

Sagar D Patel, Kiran R.Shah, PROF.R.B.Khasiya

Engineering 122-124

41 Mahatma Gandhi's Ultimate to the Globalization Dr. Ashok Shankarrao Pawar

Engineering 125-129

42 Determination of Reservoir Operating Rules for A Single Reservoir - A case study (March 2012)

J.C.Solanki,B. K.P.Sthar, C. Prof.A.T.Motiai

Engineering 130-132

43 Flow Equation For Elliptical Weir Jigar H. Gamit Engineering 133-135

44 Reducing the Effect of Flood through River Training Work on Shedhi River at Khumarvada Village of Kheda District, Gujarat

Suthar Kandarp kumar P. , Solanki Jitendrasinh C.

Engineering 136-138

45 Case Studies in Community Initiated Rainwater Harvesting Dr Mahalaxmi Krishnan Environment 139-140

46 Impact of Human Activities on Mangroves Ecosystem Arvind A. Dhond Environment 141-143

47 Equator Principles an Innovative Tool for Environmental and Social Sustainability

Ashok R. Bantwa Finance 144-146

48 Investor Activism – The Icahn Effect Ch. Chaitanya Finance 147-149

49 Dividend policy – A fundamental signal Krunal K Bhuva, Dr. Vijay Vyas

Finance 150-151

50 Infrastructure Creation And Utilisation In Railways Mrs. K. Revathi,Dr. R. Ganapathi

General Management

152-154

51 Impact of Environmental Parameters on the Worker’s Work Capacity Involved in Organized Poultry Farm

Tulika Srivastava,Dr. Aditi Vats

Home Science 155-156

52 Impact of Electronic Communication Media on Consumers Sandhya Rani,Dr. Chhaya Shukla

Home Science 157-159

53 A Study On Employee’s Performance Appraisal With Reference To Mitsubishi Heavy Industry Tools Limited.

S.Ragothaman, D.Yuvaraj, S.Sridhar

Human Resource Management

160-162

54 Roles of the Expatriate Kapil Dev Upadhyay, Dr. (Prof.) Vijay Kumar Soni

Human Resource Management

163-164

55 English in Multicultural Society of Asia Bhaveshkumar Rana Literature 165-167

56 Need to Reform General English Syllabus at UG Level in the Affiliate Colleges of the University of Jammu: An Experimental Study

Dr. Wajahat Hussain Literature 168-169

57 A Study On Employee Retention for Sustaining the Talented Employees in Health Care Industry in a Private Multi-Speciality Organization

Dr C Swarnalatha,TS Prasanna

Management 170-172

58 Present Status Of Women Self Hep Groups In Tamilnadu M.Gurusamy, P.Uma Maheswari, C.Sangeetha

Management 173-175

59 Volatility In Indian Stock Markets Mr. Santanu Kumar Das

Management 176-180

60 Women Entrepreneurs: Role, Development and Contribution in Indian Economy

Siddharth Raval, Yupal Shukla

Management 181-182

61 Talent Management: A Bird Eye View Kalaspathi Vishwakarma

Management 183-184

62 Efficient Positioning For Sustained Leadership Ms.Asha Anotny , Ms.S.Anbu Selvi

Management 185-188

63 “An Imperical Study on Women’s Approach Towards Equity Market”

Ritesh Hasmukhlal Amarsela

Management 189-193

64 A Study on the Role of Securities Exchange Board of India (SEBI) Towards Insider Trading Practices in Indian Capital Market

V. Arockia Jerold Management 194-197

65 Profitability Of Commercial Banks With Special Reference To Indian Overseas Bank

Ms. R. Gokilavani,Dr. R. Ganapathi

Management 198-200

66 Brand Preference For Mineral Water With Reference To Pollachi

Dr. R. Ganapathi,G. Murali Manokari

Management 201-205

67 “ISO 9000 - Impact of Quality Systems on Business Performance”

Manisha Paliwal Management 206-207

68 Perceived Satisfaction of Mobile Prepaid Users and demographic factors

Dr. J. M. Badiyani Management 208-209

69 STUDY ON NPAs IN SBI WITH REFERENCE TO COIMBATORE

Ms. R. Gokilavani,Dr. R. Ganapathi

Management 210-213

70 Consumer Protection – Issues and Impediments In Rural Areas

Mrs. K. Revathi,Dr. R. Ganapathi

Management 214-216

71 Service Quality and Customer Satisfaction in Telecommunication Companies

Mr. Akshay Arora,Ms. Sujitha R

Management 217-219

72 To Study The Organizational Stress It’s Causes, Effects And Remedies of Private Banks At Bhavnagar Region

Mr. Vimal P. Jagad,Mr Mukesh .C Ajmera

Management 220-222

73 Case Study on Utilisation of ATM - With Reference To Erode Town

R. Gokilavani,Dr. R. Ganapathi

Management 223-226

74 Case Study Method – An Ideal Tool of Learning Mr. T. Kalimuthu,Dr. R. Ganapathi

Management 227-229

75 Ethics & Marketing: A Deep Connection Ashish Nathwani Marketing 230-232

76 The Emerging Role of HR in India Axaybharti N Goswami Marketing 233-234

77 Marketing Of Diamond Jewellery In Coimbatore – An Opinion Survey

Dr. R. Ganapathi, G. Murali Manokari

Marketing 235-237

78 A Study On Customer Satisfaction Towards Cable TV Services With Special Reference To Thirumangalam, Madurai District

K. Navarathinam,S. Anbu selvi

Marketing 238-240

79 Changing Consumer Behavior towards IPL Nirav R. Vyas,Dr. Vijay Vyas

Marketing 241-242

80 Q-Level Subnearring Of Q-Intuitionistic L-Fuzzy Subnearrings

M.M.Shanmugapriya, K.Arjunan

Mathematics 243-246

81 Effect of Selected Yogic, Aerobic Exercises and Combined Yogic and Aerobic Practices on Resting Pulse Rate

Dr. Shivarama Reddy. M , Dr. Manjappa. P

Physical Education

247-250

82 Analysis of Long Jump Performance T.Christopher Nallarasu Dr.V.Mahadevan

Physical Education

251-252

83 Panchayats and Women Self Help Groups: (A Study With Special Reference to Gulbarga District of Karnataka)

Dr. Pralhad Chengte Political Science

253-254

84 The Frustration among T.B.Patients-A Psychological study Dr.Kishor N. Mehta Psychology 255-256

85 Voice Activation Detection Algorithm for Estimating the Noise From Human Speech Signal

Kanu Patel,Sameena Zafar

Science 257-269

86 An Analysis of Changing Socio-Cultural Practices Among The Lambadas Of Andhra Pradesh

Dr. M. Sreedevi Xavier Sociology 260-262

87 Sociology of Art: A Theoretical Exploration Dr. Poonam Gandhi-Moirangthem

Sociology 263-265

88 Dalit Nari : Sthan, Paristithi avam Samsya Dr. H.L. Chavda Sociology 266-269

89 Ansuchit jatiyan me lagan sansthan bhal achal - jilla ahmedabad gujarat rajya ke vanshis sandarbhme

Dr. H.L. Chavda Sociology 270-272

90 Techniques of Steganography and Steganalysis Bhavsar Jaimin H, Imran Khan

Technology 273-276

91 Contributions of Tourism – An Analysis Dr. Bheemanagouda Tourism 277-278

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PARIPEX - INDIAN JOURNAL OF RESEARCH X 21

Research Paper

* Head of the Department, Madurai Kamaraj University Evening College, Palani

** Assistant Professor in Commerce, Directorate of Distance Education, Alagappa University, Karaikudi

Commerce

CHALLENGES IN COMMERCE DUE TO GLOBALIZATION

* Mr. T. Kalimuthu ** Dr. R. Ganapathi

Keywords :

Though India had developed well in almost all sector, it is till considered as one of the developing countries in the world. In business the producers are in a condition to adopt creativeness and innovation in their products to satisfy the needs and desire of the consumers. Nowadays almost in all businesses the business activities are carried after considering the behaviours and attitudes of the customers. In modern scenario we have to face toughest competition in the business in all levels of the business activities because of the government policy to enter in the WTO agreement. WTO agreement empowers the member countries to sell their products in any country with out paying tariff or in concessional tariff for all products. Due to globalization Indian manufacturers really face number of issues particularly to market their products and commodities both in inland trade and also in international business. The globalization paved way to Indian manufacturers to export their products to any nation in the world. In many businesses the Indians producers are the potential competitors in the global markets. Likewise the Indian manufacturers and the commerce industries face problems from foreign competitors. The foreign business men and manufacturers select India to market their products. India is considered as the potential country to market all nature of products and also to start new businesses because of the population and demands for all products. Further in India the business people can get good amount of labour force at a lower rate of wages when compared with the wage rate prevailing in the abroad countries. The government of India is continuously inviting foreign investors to start their business in India. In this regard we got considerable volume of FDI in all sectors which further increased the competition to the commerce in India. The consumers prefer god quality in commodities at a cheaper price. Due to globalization even in retail we have competitions from FDI. Maintenance of sustainable quality in the products by using advanced technology will reduce the cost of production which will lead to increase the profits and potential consumers to Indian manufacturing industries and businesses. But in most of the businesses we follow traditional system of production where more volume of manual workers is utilized in the production process instead of machineries. Till our Indian businesses suffer lot to market their products. It is the right time to make awareness to Indian businessmen about the challenges to commerce due to globalization. They must be given adequate training and awareness about the new technology to reduce the cost and to get finished products with good finishing which will attract the consumers. By keeping the above views in mind the researchers tried to write an article in the title “CHALLENGES IN COMMERCE DUE TO GLOBALISATION”.

ABSTRACT

INTRODUCTIONIn olden days goods and commodities were manufactured for self consumption. Then goods were produced and stored to meet future requirements of the family. Later, consequent to the development in business, industry and technology more goods were produced for the purpose of selling to satisfy the needs of others in domestic regions. Due to the geographical location and climate certain types of goods and commodi-ties can be produced in a specific region only. But the same product is demanded in all regions of the world. Here there was a need for export and import business. All the countries produced various products in accordance with the availability of resources in the country and sold the goods in excess of domestic consumption abroad. The developed nations like America, England, France, etc., have imposed more rules and regulations to allow the goods from other nations. In Feb-ruary 1946, the United Nations Economic and Social Coun-cil (ECOSOC) at its first session established a preparatory Committee of eighteen countries to prepare the ground work for a United Nations Conference on Trade and Development. After many discussions records of the GATT was formed and came into force on 1st January 1948. All countries in the world were instructed to become a member in GATT. But the de-veloping countries argued that the terms and conditions in GATT were favourable to developed nations and resisted to

put signature in GATT. But by the mid - 1980s its member-ship had risen to 90 countries that accounted for four-fifths of world trade. Still many countries felt that the rules and regulations in GATT was so rigid and was not acceptable by all. In the year 1994 the Uruguay Round – created a legal institution- the WTO to replace the provisional GATT. As a body of law, the WTO embodies the GATT 1994, as well as several other non - goods related Agreements (GATS and TRIPS) and has a single dispute settlement mechanism to cover all the various agreements. India has also signed in WTO. As per the terms in WTO all the nations in world can sell their products anywhere in the world. Tariffs and terms will be followed as per the provisions of the WTO. Tariff rate and procedures have to be relaxed as per WTO. In India the WTO agreements came into force from 01.01.2005. Due to globalization policy any commodity can be sold anywhere in the world with concessional tariff or without tariff. This glo-balization has both negative and positive impact on different sectors in India. For example in software and textiles industry we have positive impact. But if we consider education and machinery we have some sort of negative impact. Due to certain reasons we are not able to take competition in the global market in certain products. Many businessmen are not ready to go for international trade.

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22 X PARIPEX - INDIAN JOURNAL OF RESEARCH

OBJECTIVES AND FUNCTIONSThe WTO’s objective is to help trade flow smoothly, freely and predictably. The main functions of the WTO include:

® Administering WTO trade agreements

® Acting as a forum for trade negotiations

® Settling trade disputes

® Monitoring national trade policies® Assisting developing countries in trade policy issues,

through technical assistance and training programmes and

® Co - operating with other wings of the UNO (IMF, IBRD and its affiliated agencies).

KEY FEATURES OF THE WORLD TRADE ORGANIZATION1. Single institutional framework encompassing the GATT

(as modified by the Uruguay Round), all agreements con-cluded under it, and the complete results of the Uruguay Round.

2. Headed by a Ministerial Conference which meets once in every two years.

3. General Council of the Organization to oversee the op-erations of the organization and its ministerial decisions, and to act as a dispute settlement body and a trade policy review body;

4. General Council to establish subsidiary bodies, a Goods Council, a Services Council, and a TRIPS Council and

5. WTO framework to ensure a single understanding ap-proach results from the Uruguay Round; the membership in the WTO involves accepting all the results of the Round without exception.

BRANCHES OF COMMERCE IN INDIA1. Manufacturing and Trading2. Banking and Finance3. Transport4. Insurance5. Storage and Warehousing6. Standardization and grading and7. Education.

STATUS OF INDIA IN THE FIELD OF COMMERCEMANUFACTURING AND TRADINGIndia, after independence, continuous efforts are being taken by the Governments to establish more industries. Subsidies are also provided by the Governments wherever possible to maintain balanced growth in both rural and urban areas of the country. Due to continuous planning we experience consid-erable growth in Industrial development. In some industries our development matches even the developed nations in the world. For example in software industries India plays a vital role in the global trade. In textiles also the growth is appreci-able by and large. We are utilizing advanced technology in most of the fields. In some areas we use our own technology.

BANKING AND FINANCESince independence the participation of the indigenous banks has been considerably reduced and 14 Commercial Banks had been nationalized during the year 1969 and six more banks were nationalized in 1980. More concentration was given to promote loan facilities to almost all sectors. The government established some financial corporations like SFI, TIIC, SIDBI to provide better financial assistance to the busi-nessmen. Cash Credit, Overdraft facility, Letter of Credit for export business also have been arranged by almost all com-mercial banks. Subsidies were provided to encourage the promoters to establish industries in rural and backward areas of the country. SIDBI plays a vital role in promoting industries in all parts of the country.

TRANSPORTThe transport services in India have also been developed well in India. We have spent large amount in developing trans-port and communication facilities. For developing business transport plays a important role. Goods and commodities of the business can be moved from one place to other place only with the help of transport. In India we have all means of transport like Road, Rail and Air transport. The transports are owned by both the private and government. But the rail trans-port owned by the Union Government. Facilities provided are appreciable nowadays.

INSURANCEIn all nature of work we have to face risk. Likewise in all busi-nesses there will be risk sometime. If the risk is not covered, on the occurrence of any unexpected event, there will be loss to the business people. To avoid this problem insurance cor-porations have been established in India. In India both the government and private corporations cover the risk in the life of human being as well as in the goods and other assets. We have various insurance policies to cover the risks. The services rendered by the insurance industries in India is con-sidered the best in the world.

STORAGE AND WAREHOUSINGStorage and warehousing facilities are highly established in India both by the state and central governments. Some of the warehouses are operated by the private authorities. Bonded warehouses are also maintained by the central government, they sometime provide loan facilities to the business people by taking the goods and commodities as security for the loan.

STANDARDISATION AND GRADINGIn the warehouse and storage apart from storing, grading, standardization and packaging also are undertaken. Accord-ing to the necessity of the consumers the goods and com-modities are graded with various quality and quantity. The warehouse keeper provides better services to the business sectors. The quality of the service provided by the warehouse is developed tremendously when compared with the situa-tions prevailed in olden days.

EDUCATION SERVICESIn olden days education services were considered as the service to the society. But in modern scenario education is considered as a best product or commodity which earns more profit. Due to this reason all the vendors (Educational Institu-tions) try to attract the customers (students) by offering vari-ous new and innovative programmes in the field of education.

STRUCTURE OF INDIAN HIGHER EDUCATIONIn the Indian system higher education includes the education imparted after the 10+2. The Bachelor’s Degree is obtained after three years study (Liberal Arts) and four years in the case of most Professional Degrees (Four and half in the case of medicine and five or six years in case of law). The Master programme is of two years duration. The research degrees (M.Phil. and Ph.D.) take variable time depending upon the individual student. The minimum period for and M.Phil. De-gree is one and half year and Ph.D. a further two years. The highest degrees are D.Litt. and D.Sc. are awarded after the Ph.D. Degree for original contributions of the highest order. In addition to a number of Diploma and Certificate courses are available in universities.

PROBLEMS1. India being a developing nation in manufacturing and

trading, more amount of human power are utilized than machine power. It will give room for defectives in the finished products and increases the cost of production which is a hurdle while facing competition in the world-wide market. Further technically we are still backward when compared with the developed nations.

2. If we consider the Banking and Financial service in India, due to the change in policy of the government frequently

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the interest rates are changed. There are some problems in providing subsidies to the borrowers in certain sectors.

3. Transport cost is more in some means of transport like air and rail. And these facilities are not available in all regions. Rural people will not be benefited with these means of transport.

4. Cold storage facilities are not sufficient in India. In many villages people do not know about cold storage facilities for the products which are perishable in nature and

5. In educational services the infrastructure provided in In-dia is not up to the mark. In many educational institutions no water facilities, laboratory, toilet and well furnished Play Ground etc. are available.

SUGGESTIONS1. Government should frame policies to uplift the technol-

ogy in the industries whereever necessary and should en-courage innovative and creative ideas in the technology.

2. Facilities like cold storage also can be provided in rural and semi-urban areas to provide better quality products to all the citizens.

3. Best quality should be maintained in all aspects of the business to face the competition in the globalized era.

4. Traditional system of production in small scale and cot-tage industries should be replaced by introducing ad-vanced technology in production process.

5. The educational institutions should revise the fee struc-ture especially for higher education which will enable even a poor to get good higher education and

6. More infrastructure must be provided in all educational institutions. The government should strengthen rules for the educational institutions.

CONCLUSIONWe have all resources within the domestic region of our coun-try. In the modern scenario quality and service are considered to be the best way to satisfy the consumers both in domestic and international trade. Quality can be maintained only if we have latest technologies and creative and innovative meth-ods of productions. Both the government and business peo-ple should try to innovate and introduce new technology and supply of products with better quality at a reasonable rate to face and survive in the competitive and globalized era, which will surely help to make India a super nation by or before the year 2020.

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