KEY DRIVERS FOR SALES ON HIGH SEA TRANSACTIONS: ISM ENABLED EVIDENCE FROM INDIAN TRADING FIRMS

Abstract

Trade benefits all and no nation is ever ruined by foreign trade. Globally, the policy makers have considered foreign trade as an engine of economic growth, employment generation and foreign exchange accumulations. Sales in High Sea Transaction, also known as High Sea Sales or “String Sales” which takes place beyond the territorial waters of the country of export and the country of import, are considered vital to the economic needs of developing countries like India for a variety of reasons. With disruptions in global supply chain operations due to global pandemic, protective national polices, country-specific trade policies, there is an increasing trend towards the High Sea Sales transactions. In this context, an Exploratory Pilot Survey is conducted to identify the key drivers/motivations for Sales on High Seas factoring feed of larger import firms, bankers, logistics practisers and trade specialists. Subsequently; ISM enabled Modeling is leveraged to understand the key drivers shaping the Sales on High Seas Transactions in India. In this least researched area of prime importance for development and evolution of an enabling trading environment, this study provides insights on key drivers of HSS transactions based on relational mathematical techniques
called Interpretive Structure Modeling (ISM). The study lays the base for future research in this unexplored area of trading in regulated markets of the developing countries like India.