Insights into global trade
Reviewed by Satish Kapoor

International Trade: Text and Cases
By P. K. Vasudeva. Excel Books. Pages 512. Rs 395.

This book gives detailed information on the external trade performance of 153 countries in terms of overall trends in current value, volume, and price: the importance of trading partners and the significance of individual commodities imported and exported.

The book contains data up to 2010 on individual countries, including import and export series data; percentage breakdowns of imports by broad economic categories; percentage breakdown of exports by industrial origin; the value of import and export trade analysed by the principal countries or areas and regions of provenance and destination; and the quantity of value of imports and exports analysed by commodity.

A number of tables analyse trade in commodities by region and country, while special tables show the contribution of a country's trading industry to its region and to the world, the flow of trade between countries and regions, and the fluctuations of the prices at which goods moved internationally.

The first chapter introduces the genre of international trade, difference between international trade, international marketing and international business. While Chapter II discusses key issues and theories of international trade and India's role in international trade theories, Chapter III concerns global sourcing.

The fourth chapter discusses the role of the World Trade Organisation (WTO).

The next five chapters explain India's exports, export finance, export documentation etc.

Chapter X presents a helpful and concise explication of special economic zones: an Indian perspective, while the next four chapters identify the major issues concerning government policy on import, imports of capital goods, both new and second-hand import under the EPCG scheme, imports of raw materials and importation cycle with special reference to foreign exchange markets. The book strikes a balance between explication of the "what is" and discussion of the "how to". A sufficient foundation in important theories and concepts enables the reader to adapt to changing conditions in the international trade. At the same time, where most topics are concerned, detailed guidance on application gives users the immediate knowledge needed to manage international trade and logistics.

The strengths of this volume are its in-depth discussion about trade issues, the details provided on documentation, and a focus on conveying information useful in the actual management of international trade transactions. Each chapter is followed by review questions and a list of key terms and their location in the text. Comprehensive case studies are appended after each chapter that makes the reader understand its implications.

A careful effort by the author to define the book's audience and its intended purposes clearly underlies this volume's obvious utility for the practitioners and students of international trade. Even exporters and importers can gain from the content. It is a must for the libraries of management institutions and universities.