Being in circulation for more than two decades, ESSENTIALS OF BUSINESS ENVIRONMENT has witnessed lows and highs of Indian businesses. The book was a bystander to the tightly controlled business environment and has been an eye-witness to the post-reforms period. During these periods, the book has captures all the changes and development clearly, comprehensively and objectively. No surprise, the book has gained acceptance across the country. The present edition contains cases and two new features: `Relook` and `Applying Mind`. All the chapter have been recast, and new tables and boxed items have been added. ESSENTIALS OF BUSINESS ENVIRONEMNT is now richer in contents, more comprehensive in coverage and more contemporaneous in timing. Contents : Part − A 1. Understanding the Nature of Business 2. Environment and Strategic Management Part − B 3. Meaning and Rationale for Globalisation 4. Strategies for Going Global 5. Foreign Direct Investment 6. India, WTO and the Trading Blocks Part − C 7. Technological Environment Part − D 8. Political Institutions 9. The Constitutions of India 10. Rationale and Extent of State Intervention 11. End of Government in Business? Part − E 12. Economic Environment 13. Industrial Policy 14. Industrial Licensing 15. Competition Law and Foreign Exchange Management Act 16. Companies Act, 2013 17. Public Sector Enterprises 18. Privatisation 19. Micro, Small and Medium Enterprises 20. Industrial Labour 21. Industrial Sickness 22. Exit Policy 23. Infrastructure 24. Development Banks 25. Stock Exchanges 26. Financial System 27. Fiscal System 28. Agriculture 29. Balanced Regional Development 30. Population and Human Development 31. External Sector 32. New Economic Policy Part − F 33. Cultural Environment 34. Social Responsibility of Business 35. Business and Society 36. Social Audit 37. Business Ethics 38. Corporate Governance Part − F 39. Natural Environment