In common word definition of import means to buy some product or service for business purposes form other countries rather than their own country.
In detail, the import is brought product or service by following country’s rule and regulation for commercial purpose it may happen for the quality of the product or service also it may happen if the prize of the is less then own country.
A country that faces scarcity in the supply of any commodity can purchase it from another country where there is a surplus. Importing is concerned with purchasing goods made in another country.
Definition of import
According to P.H. Collin, “Import means means bringing goods into a country form aboard for sale.”
According to Y.P. Singh and M. Saeed, “Import means goods or services purchased from other countries involving the use of foreign exchange.”
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