Business Governance & Environment - World Trade Organization & TRIPS

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Business Governance & Environment - World Trade Organization & TRIPS

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Business Governance & Environment - World Trade Organization & TRIPS

  1. 1. Business Govt. & Environment Assignment WTO & TRIPS An assignment on Business Government & Environments Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  2. 2. PurposeBusiness Govt. & Environment Assignment• To Learn why Nations Trade.• To get an overview on World Trade Organization (WTO) , it’s functions, role & Impact on International Trade.• To understand Intellectual Property Rights (IPR) and examine Trade-Related aspects of IPR (TRIPS)• Understanding impact of WTO & TRIPS through some famous disputes Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  3. 3. Business Govt. & Environment Assignment Why Nations Trade? Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  4. 4. Nations TradeBusiness Govt. & Environment Assignment• To Procure Items not available within Nation enough to fulfill domestic demands. e.g. Petrol in India• To Procure Items at Costs < Domestic cost of production. e.g. Gold & Diamond in India• To sell items that is surplus in production e.g. Tea in IndiaIn Macro economic terms• To Gain from it’s own Absolute Advantage• To Benefit from other Nation’s Comparative Advantage• Increase the Total World Output Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  5. 5. Hypothetical Examples #1 Business Govt. & Environment AssignmentConsider Simple Economy – 3 people (Ram, Rahim & Robert) – 3 needs (Roti, Kapda Aur Makan; Wheat, Clothes & House )• Ram: B.Sc.(Agri), Well Built, Produces Wheat• Rahim: Dip. In Fashion Tech. Produces all 3.• Robert: M.E.(Civil), Produces all 3.Questions• Ram need to Trade surplus Wheat to fulfill his needs, but why would others buy?• Are Trade relations required between Rahim & Robert, who are self reliant?It is evident that – Rahim & Robert cannot produce wheat as efficiently as Ram. – Clothes produced by Robert will not be of same quality as produced by Rahim – Houses constructed by Rahim will not be as strong & spacious as done by Robert.Trading will give raise to Specializations, Division of Labor & Economics to scale.Note: Just like Ram, Rahim, Robert, Nations also differ in their factor endowments (Natural Resources, HR, Capital , Wisdom) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  6. 6. Hypothetical Examples #2Business Govt. & Environment Assignment Per unit resource Prod. Mobiles Laptops Per Trade Price Ratio US with 2 unit resources 20 10 20:10 = 2:1 UK with 2 unit resources 10 15 10:15 = 1:1.5 World Output 30 25 Amount of resource used per unit output US 1/20 = 0.05 1/10 = 0.1 Mobiles < Laptops UK 1/10 = 0.1 1/15 = 0.066 Laptops < MobilesIt is evident US has Absolute Advantage in Mobiles & UK in LaptopsIf US & UK decide to trade Mobiles & Laptops respectively, then• US will use both unit resources for Mobiles increasing the world output to 40• UK will use both unit resources for Laptops increasing the world output to 30• US can procure 1 laptop for price less than 2 mobiles (for same unit resources)• UK can procure 1 mobile for price less than 1.5 laptops (for same unit resources) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  7. 7. Hypothetical Examples #3Business Govt. & Environment Assignment Per unit resource Prod. Wheat Cloth Per Trade Price Ratio India with 2 unit resources 50 50 50:50 = 1:1 China with 2 unit resources 20 40 20:40 = 1:2 World Output 70 90It is evident that India exceeds China in production of both items. But – India : To produce 1 unit of wheat , need to give up 1 unit of cloth – China : To produce 1 unit of wheat , need to give up 2 units of cloth – India : To produce 1 unit of cloth , need to give up 1 unit of wheat – China : To produce 1 unit of cloth , need to give up only half units of wheat So China has a Comparative advantage on production of cloth.If India & China decide to trade Wheat & Cloth respectively, then• India will use both unit resources for Wheat increasing the world output to 100• China will use both unit resources for Cloth increasing the world output to 80• India can procure 1 unit of Cloth for price < 1 unit of Wheat (for same unit resources)• China can procure 1 unit of Wheat for price < 1 unit of Cloth (for same unit resources) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  8. 8. Business Govt. & Environment Assignment World Trade Organization (WTO) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  9. 9. WTOBusiness Govt. & Environment AssignmentAn global international organization dealing with the rules of trade between Nations.• Location: Geneva, Switzerland• Established: 1st January, 1995• Created by: Uruguay Round negotiations (1986-94)• Membership: 157 countries on 24 August 2012• Budget: 196 million Swiss francs for 2011• Staff: 640• Head: Pascal Lamy (Director-General) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  10. 10. What is WTO?Business Govt. & Environment AssignmentAn International organization:• To liberalize trade between Nations.• To legalize the ground-rules for International commerce.• To help Governments to negotiate trade agreements.• To Solve trade disputes between Nations.The main goal is to protect & give confidence to producers of goods and services, exporters, and importers to conduct their business across globe, and thus help Nations to meet their social and environmental objectives. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  11. 11. Evolution of WTO Business Govt. & Environment Assignment The World Economic climate:• U.S. speculative Mkt. boom 1920, Smoot–Hawley Tariff import Act 1930, Plunge in Intl. Trade, Mkt. Crash, 9k Bank Fail, Domino effect across world resulted in Great Depression of the 1930.• Climate of extreme protectionism, Imports reduction, declining output and trade among Nations.• Economic Needs, Trade Bias, Ignorance, Envy & Greed among Nations led to World War 2 between 1939 – 1945.• Lessons learned, need for economic security and better instruments of international cooperation.• U.S. Bretton Woods Conference in 1944, IMF & World Bank created to deal with currency instability & post war reconstruction finance Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  12. 12. Evolution of WTO Business Govt. & Environment Assignment Birth of GATT:• Nations realized that for post war economic recovery & progress: – Open markets & liberalized trade are needed. – Degree of stability and predictability in system are required for secure Trade• An interim agreement was reached between a 23 Nations with a mutually agreed set of rules, binding on all members and enforceable through dispute settlement.• This arrangement took the form of General Agreement on Tariffs and Trade (GATT )in 1948.• Now Trade were to be conducted according to rules & not power of individual nations. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  13. 13. Evolution of WTO Business Govt. & Environment Assignment GATT Principles:• Each member Nation’s trade policies must treat all GATT members equally.• No member shall discriminate between the members of GATT in the conduct of international trade.• Members of GATT agree to apply principle of ‘most favored nation’ to all trade duties (refraining from discriminatory Tariff rates) .• National Treatment : Foreign goods, services, or investment are to be treated “no less favorably” within a Nation’s domestic markets than competing products or services produced locally. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  14. 14. Evolution of WTO Business Govt. & Environment Assignment Effectiveness of GATT:Achievements:• World trade grows @6% PA vis-a-vis world output @4% PA• One quarter of world production are traded• 18-fold increase in world trade volumes• Exports of manufactured goods are now 43 times higherWeaknesses:• GATT was ad hoc and provisional• Had contracting parties• Allowed continuance of existing domestic legislation even if its in violation of Trade Agreements• Was less powerful, dispute settlements were slow & less efficient, its ruling could easily blocked Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  15. 15. Evolution of WTO Business Govt. & Environment Assignment GATT MTN Rounds:• Geneva Round - 1945 (23 nations) GATT formation, 45,000 tariff concessions affecting $10 billion of trade• Annecy Round - 1949 (13 nations) Countries exchanged some 5,000 tariff concessions• Torquay Round - 1951 (38 nations) 8,700 tariff concessions were made• Geneva Round - 1955-1956 (26 nations) $2.5 billion in tariffs were eliminated, Japan Included• Dillon Round - 1960-1962 (26 nations) $4.9 billion reduction in tariffs, creation of EEC.• Kennedy Round - 1962-1967 (62 nations) $40 billion in tariffs were eliminated. Anti dumping(import SP< Local SP)• Tokyo Round - 1973-1979 (102 nations) Regulations for non-tariff barriers and voluntary export restrictions. Concessions of $190 billion. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  16. 16. Evolution of WTO Business Govt. & Environment Assignment Birth Of WTO:Uruguay Round - 1986-1994The main objectives were:• Expand the competence of the GATT to important areas like services, capital, intellectual property, textiles, and agriculture• To reduce agricultural subsidies• To put restrictions on foreign investment, and• To open trade in banking and insurance.• Draft a code to deal with copyright violation and other forms of Intellectual Property Rights.The Round transformed the GATT into the World Trade Organization Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  17. 17. WTO Principles Business Govt. & Environment Assignment• Non discrimination• Free Trade between nations through MTNs.• Stability in the trading system: Member countries are committed not to raise tariff and non tariffs barriers arbitrarily.• Promotion of Fair Competition: WTO provides for transparent, fair and undistorted competition.• It discourages unfair competitive practices such as export subsidies and dumping. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  18. 18. WTO better than GATTBusiness Govt. & Environment Assignment• WTO and its agreements are permanent• WTO has members instead of contracting parties• WTO Trade Agreements are binding on existing domestic legislation.• WTO is more powerful than GATT, dispute settlement faster and more efficient, very difficult for member nations to block the WTO rulings. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  19. 19. WTO Functioning Business Govt. & Environment Assignment• The institutional structure is such that it is headed by a Ministerial Conference composed of all members of the WTO and meets at least once every two years.• Below them, the General Council exercises the functions of the Ministerial Conference.• The General Council also meets as the Dispute Settlement Body and as the Trade Policy Review Body.• At the next Level are the Goods Council, Services Council & the IPR council. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  20. 20. WTO Dispute Settlement Business Govt. & Environment Assignment• First Stage (60 days): Consultation through mediation• Second Stage (45 days): Panel set up to make rulings – Each side to submit its case in writing to the Panel before hearing – First hearing: each side to present it’s case in front of the Panel – Rebuttals: To provide written Rebuttals to Panel & Argue orally – Experts: Appoints Technical expert review & advisory group – First Draft: Panel provides report of facts & arguments to each. – Interim Report: Panel provides findings & conclusions to each. – Review: each side given 2 weeks to review the report & respond• Final Report (6 Months): Final report is submitted to each• Ruling: The report becomes ruling unless rejected by consensus within 60 days.• Appeals: Both sides can appeal between 60 - 90 days Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  21. 21. Business Govt. & Environment Assignment Questions? Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  22. 22. Note on Current MTN –Business Govt. & Environment Assignment Doha The Fourth Ministerial Conference, Doha, Nov 2001 MTN• Focus is on helping developing countries to join the global marketplace, and boost their economies as a result.• Includes negotiations on agriculture and services.• Approved a linked decision on implementation — problems developing countries face in implementing the current WTO agreements.• Ministerial discussions took place in Cancún 2003, Geneva 2004, Hong Kong 2005 and Geneva in 2006 and 2008 Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  23. 23. Doha AgendaBusiness Govt. & Environment Assignment• Goal is to make it easier for goods and services to be bought and sold across national borders.• It means – cutting import taxes/ tariffs – on everything. – restricting countries use of subsidies for farmers and fishermen – lowering taxes and regulatory barriers that affect the cross-border trade in services, such as banking and consulting; – negotiating new Intellectual Property rules on things such as drugs and copyrighted works.By: Manohar M. M. Iyer Prepared XMBA Batch 19 , ITM Vashi, 2012.
  24. 24. Business Govt. & Environment Assignment Intellectual Property Rights (IPR) Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  25. 25. What is IPR?Business Govt. & Environment AssignmentThe exclusive rights given to people over the creations of their minds and use of his/her creations for a certain period of time.IPRs are divided into two main categories:• Copyright and rights related to copyright: i.e. rights granted to authors of literary and artistic works, and the rights of performers, producers of phonograms and broadcasting organizations. The main purpose of protection of copyright and related rights is to encourage and reward creative work.• Industrial property: This includes – The protection of distinctive signs such as trademarks and geographical indications – Industrial property protected primarily to stimulate innovation, design and the creation of technology. In this category fall inventions (protected by patents), industrial designs and trade secrets. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  26. 26. DifferenceBusiness Govt. & Environment Assignment• Copyrights, patents, trademarks, etc apply to different types of creations or inventions & are also treated differently.• Patents, industrial designs, integrated circuit designs, geographical indications and trademarks have to be registered in order to receive protection.• The registration includes a description of what is being protected — the invention, design, brand-name, logo, etc — and this description is public information.• Copyright and trade secrets are protected automatically according to specified conditions.• They do not have to be registered, and therefore there is no need to disclose, for example, how copyrighted computer software is constructed.• Other conditions may also differ, for example the length of time that each type of protection remains in force Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  27. 27. TRIPSBusiness Govt. & Environment Assignment• Trade Related Aspects of Intellectual Property Rights (TRIPS) is an international agreement administered by the WTO.• Negotiated at the end of the Uruguay MTN Round of GATT• Introduced IPR laws into international trading system.• Requires member states to provide strong IPR protection• Contains requirements that Nations IPR laws must meet.• Details enforcement measures, remedies & dispute resolution procedures. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  28. 28. TRIPS contentBusiness Govt. & Environment AssignmentThe agreement covers five broad issues:• How basic principles of the trading system and other international intellectual property agreements should be applied• How to give adequate protection to intellectual property rights• How countries should enforce those rights adequately in their own territories• How to settle disputes on intellectual property between members of the WTO• Special transitional arrangements during the period when the new system is being introduced. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  29. 29. TRIPS Basic PrinciplesBusiness Govt. & Environment AssignmentBasic principles• National treatment: Treating one’s own nationals and foreigners equally• Most-Favoured-Nation treatment: Equal treatment for nationals of all trading partners in the WTO.• Balanced protection: IP protection should contribute to technical innovation and the transfer of technology. Both producers and users should benefit, and economic and social welfare should be enhanced Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  30. 30. TRIPS & WTOBusiness Govt. & Environment AssignmentTRIPS has so much importance in WTO that:• Ratification of TRIPS is a compulsory requirement of WTO membership• All WTO members must enact the strict domestic IP laws mandated by TRIPS Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  31. 31. TRIPS IPR requirementsBusiness Govt. & Environment AssignmentExamples:• Copyright terms must extend to 50 years after the death of the author. (Art. 12 and 14)• Copyright must be granted automatically, and not based upon any "formality," such as registrations(Art. 9)• Computer programs must be regarded as "literary works" under copyright law and receive the same terms of protection. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  32. 32. TRIPS IPR requirementsBusiness Govt. & Environment AssignmentExamples:• Patents must be granted for "inventions" in all "fields of technology" provided they meet all other patentability requirements (Art. 27.2 and 27.3)and must be enforceable for at least 20 years (Art 33).• IP laws may not offer any benefits to local citizens which are not available to citizens of other TRIPS signatories under the principle of national treatment (with certain limited exceptions, Art. 3 and 5).Note: TRIPS provisions on copyright were taken from the Berne Convention for the Protection of Literary and Artistic Works whereas Trademark and patent provisions were modeled on the Paris Convention for the Protection of Industrial Property. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  33. 33. TRIPS safeguard provisionsBusiness Govt. & Environment Assignment• Compulsory licensing: Allows Nations to permit an entity to produce a patented product for domestic usage without the Patent holders consent. This is a temporary license & is usually exercised during national emergency. The producer must pay a market-rate fee to the patent holder or enter into voluntary license agreement on reasonable commercial terms.• Parallel importing: A product produced under a patent held in one country, but sold at lower prices in another country, can be imported by WTO members from that second country without permission from the patent holder, provided the decision is cost based & not discrimination on the grounds of the nationality of the patent holder.• Bolar provisions: Allows generic manufacturers to prepare for production facility and fulfill regulatory procedures before original patents expire, so that products are ready for sale as soon as the patent ends. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  34. 34. Business Govt. & Environment Assignment Understanding impact of WTO & TRIPS through some famous disputes Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  35. 35. Disputes case #1 –Business Govt. & Environment Assignment HealthcareAIDS in South Africa - Public health or corporate profits?• Anti-retrovirals significantly decrease the virus replication speed• U.S. and European pharmaceutical companies have exclusive patents• These regimen of drugs for one patient at US prices costs US$15,000• In South Africa nearly 1 in 10 citizens are HIV positive i.e. 4.2m• Only .001% of Africas AIDS patients receive anti-retroviral treatment• Drug companies had been unwilling to reduce prices.• South Africas 1997 Medicines Act allowed Compulsory licensing for generic versions & parallel importing.• 39 Western pharmaceutical companies filed suit with WTO• However Government of South Africa ultimately won Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  36. 36. Disputes case #2 –Business Govt. & Environment Assignment Bio-piracyThe Neem Tree• In 1971, an US timber company found neem trees (Azadirachta indica) usefulness as pesticide & patented the process.• In 1992, W.R. Grace secured the rights to formula for making pesticide from Neem trees seeds.• It began suing Indian companies for making the emulsion.• India has been using neem trees for over 2000 years for various purposes such as pesticides, spermicides and toothbrushes.• Per India such claims of discoveries by US are actual stealing and pirating of indigenous practices and knowledge. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  37. 37. Disputes case #3 –Business Govt. & Environment Assignment Bio-piracyBASMATI• In 1997, RiceTec Inc, was granted a patent (#5663484) by the US patent office to call the aromatic rice grown by them as Basmati‘.• This allowed the company to label its aromatic rice Basmati within the US and even for its exports.• This type of rice has been grown in the foothills of the Himalayas for thousands of years.• India was already exporting half a million tonnes of Basmati to the Gulf, Saudi Arabia, Europe and the United States worth $250 million Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  38. 38. Disputes case #4 –Business Govt. & Environment Assignment Bio-piracyTurmeric• In 1995, A U.S. patent on Turmeric was awarded to the University of Mississippi Medical Center, specifically for the "use of turmeric in wound healing."• This patent also granted them the exclusive right to sell and distribute turmeric.• Indias Council of Scientific and Industrial Research challenged the novelty of the Universitys "discovery,“• Turmeric in wound healing traditionally practiced in India for thousands of years & its proof exists in ancient Sanskrit writings which mentions turmeric’s extensive and varied use throughout India’s history. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  39. 39. Disputes on Bio-piracy…Business Govt. & Environment AssignmentPoints to ponder:• Does use of turmeric in wound healing, Neem tree as pesticide & Basmati rice should have qualified as a patentable U.S. product?• Whether it meets the legal criteria of "Novelty, Non-Obviousness, and Utility“?• Isn’t obvious that WTO rules largely mimic and support the U.S.-style patent system with same biases and pose a threat to the sanctity of indigenous knowledge?• Isn’t "biopiracy" a threat to the economies of developing Nations and their biodiversity? Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  40. 40. Disputes #5 –Business Govt. & Environment Assignment Recent CaseCipla Patent case over lung cancer drug Tarceva• In Jan 2008, Swiss drug maker F Hoffmann-La Roche Ltd , alleged that Cipla had infringed its patent by launching a generic copy of Tarceva in the local market.• This is was first launch of a generic copy of a patented drug after product patent regime for pharmaceuticals was introduced by India in 2005.• Tarceva costs about `Rs.1.4 lakh for a month’s treatment• Ciplas generic version is priced at Rs.25,000 for the same dosage.• The verdict on Sept 2012 was Cipla’s generic version was a polymorph B variant of Roche’s patented drug and it didn’t actually infringe any patent in India. Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  41. 41. Disputes case #6 –Business Govt. & Environment Assignment Bollywood• Believe it or Not One of the three case studies related to TRIPS violations published in the international WTO site is related to Bollywood. (Ref Link: http://www.wto.org/english/res_e/booksp_e/casestudies_e/case3_e.htm )• Petitioners : Miles, a very popular Bangladeshi music band.• Defendants: Mahesh Bhat (producer), Anu Malik (music director), of Amir Jamal (Singer), Saregama (India) Ltd (Music recorder) and RPG Global Music (London) (Audio Co.)• Case: Defendants had collaborated on copying core elements from the petitioners’ song ‘Phiriye Dao Amar Prem’ in the soundtrack ‘Jana Jane Jana’ of the movie Murder, gross infringement of the International IPR as well as Copyright Act’. As compensation for the ‘injury’ caused to the business interests of the petitioners, 50 million rupees were demanded• Verdict: Petitioners won the case Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  42. 42. Business Govt. & Environment Assignment Questions? Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  43. 43. More on WTO & TRIPSBusiness Govt. & Environment AssignmentSome interesting reads related to WTO & TRIPS:• Wikipedia: http://en.wikipedia.org/wiki/Agreement_on_Trade- Related_Aspects_of_Intellectual_Property_Rights• “Made in the World” http://www.wto.org/english/res_e/statis_e/miwi_e/miwi_e.htm• World Intellectual Property Organization http://www.wipo.int/portal/index.html.en• Traditional Knowledge Digital Library (TKDL) http://www.tkdl.res.in/tkdl/langdefault/common/Abouttkdl.asp?GL=Eng Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.
  44. 44. Business Govt. & Environment Assignment I thank one and all who have provided me with the opportunity to handle this responsibility and the knowledge & support to prepare this Presentation. Please feel free to forward your valuable feedback, comments, queries and suggestions related to this presentation at mumbai_man1977@Yahoo.com Thank you, Warm regards, Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012 Prepared By: Manohar M. M. Iyer XMBA Batch 19 , ITM Vashi, 2012.

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