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Mode of Entry into International Business, I. Exporting and Importing, , Exporting refers to selling of goods and services, from the home country to a foreign country while, importing refers to purchase of foreign products, and bringing them into one’s home country., , Il. Contract Manufacturing, , When a firm enters into a contract with one or a, few local manufacturers in foreign countries to, get certain goods produced as per its, specification sit is called contract, manufacturing. It is also known as outsourcing, and it can take place in following forms., , (a) Production of components like automobile, components to be used later for making final, product like car., , (b) Assembling of components into final, products such as assembling of tyres, seat etc in, a scooter., , (c) Complete manufacture of products such as, garments.