The scenario of international business has been changing at a fast rate after 1990s. The external environmental factors have been contributing significantly for the remarkable strides in global business. The drivers of globalisation include establishment of World Trade Organisation, emergence and growth of regional integration, decline in trade barriers, decline in investment barriers, increase in Foreign Direct Investment, technological changes, growth of Multinational Companies and increase in business alliances in degree and variety like alliances, joint ventures, mergers, amalgamations and takeovers. International business has playing a major role in gross domestic product growth and economic development of a nation because international market presents more potentials than the domestic market.