| Over the past few decades international trade | | | | e-logistics, offshore manufacturing to name a |
| and e-commerce have grown at a phenomenal | | | | few. It can be noticed that the common factor |
| rate combined with rising import/export and | | | | amongst most of these is the 'e' which stands |
| global sourcing policies. International trade | | | | as an acronym for the word 'electronic'. |
| also took place long time back even when | | | | Nevertheless it must be kept in mind that |
| there were not advanced telecommunications or | | | | more often than not, the word electronic |
| other networks and goods were exchanged in | | | | refers to the medium of internet and other |
| import/export in those days. With the | | | | networks, when the current times of |
| advancement of technology the impetus given | | | | e-commerce, import/export, global sourcing |
| to import/export of trade and global sourcing | | | | and international trade are considered. In |
| was tremendous and one of the latest tools in | | | | fact the term has become so popular now that |
| the armour is that of e-commerce. Basically | | | | even small scale individual entrepreneurs are |
| e-commerce refers to the carrying out of | | | | utilising the technology of e-commerce to |
| trade by use of electronic media mainly the | | | | carry out international trade, import/export |
| internet for doing international trade, | | | | and global sourcing targets. |
| import/export and global sourcing. Obviously | | | | |
| the advantages of this are many and will be | | | | Last but not least it can be concluded that |
| discussed separately in a different article | | | | e-commerce has made the world a global |
| but it should be sufficient to know at this | | | | village where tasks like import/export, |
| stage that various activities related to | | | | global sourcing and international trade which |
| import/export, global sourcing, international | | | | were hitherto quite tedious, costly and time |
| trade and procurement and sales of goods and | | | | consuming to carry out, are not done within |
| services comes under the purview of | | | | the flick of an eye at relatively much lower |
| e-commerce mainly because of the ease of | | | | costs. It is hoped that in the times to come |
| communication and the wide and extensive | | | | the technology of e-commerce will prosper |
| reach it provides, combined with huge savings | | | | even more and will contribute much more to |
| both in terms of time as well as money, which | | | | the carrying out of international trade |
| together constitute one of the biggest | | | | between various nations, global sourcing to |
| factors in the life of any business or | | | | find out the best suited commodity or service |
| organisation. | | | | at the most reasonable price and import |
| | | | export of goods and services freely across |
| The range of businesses which are involved in | | | | the border making the earth a single unit at |
| active utilisation of e-commerce is quite | | | | least commercially speaking if not |
| broad and includes those of e-banking, | | | | politically. |