Socio cultural environmental factors exhibit variation from country to country and even within the same country, differing from region to region. A thorough understanding of the socio cultural environment in which a business seeks to operate or enter is therefore important for its survival and growth.
The EXIM Policy of India contains several policy measures and decisions implemented by the central government to regulate imports and exports to and from the country. In addition, it also describes the various export promotion measures, policies and associated procedures. The Central Government, particularly the Ministry of Commerce, prepares and announces the Foreign Trade Policy in our country.
The economic environment of a business enterprise consists of several external factors such as economic policies, economic systems and economic conditions. For example, the economic condition of a country can be described in the form of the per capita income, economic resources, nature of the economy, income distribution, etc.
The demographic environment refers to the study and analysis of the characteristics of a specific population or target market. It includes various factors such as age, gender, income, education level, occupation, ethnicity, etc.
The technological environment is the macro environment, which includes factors like machines, materials, and knowledge for producing various goods and services.
The Indian Constitution contains several matters that are economically very significant and have far-reaching implications. It lays down the socio-economic and political objectives of India and the basic guiding principles of State functioning.