The second edition of the book carries a holistic approach on the business environment (both Indian and global) with a contemporary and pragmatic appeal for learners. The text provides an incisive insight into the subject via simple, elegant and explicit presentation that ties theory logically and rigorously with the practical aspects bearing on business environment. Divided into 24 chapters, this thoroughly revised book dexterously assimilates the latest statistics of the national as well as global perspectives to enhance a broader understanding of the concepts and their applications. This is purely a text intended for the undergraduate and postgraduate students of Commerce and Management. Besides, the book is of immense value to the aspirants of civil services, officials and professionals working in government departments, embassies in India, Indian missions abroad, Chambers of Commerce, NGOs and policy think tanks. NEW TO THE SECOND EDITION: Incorporates latest developments, viz. Demonetisation, Union Budget 2017-18, GST, BREXIT, Sustainable Development Goals (SDGs), and other policy aspects. Comprises new sections on Global and Indian Economic Scenarios, NITI Aayog, Manufacturing in Defence Sector, Some Other International Conventions Promoting Trade and Commerce, Doing Business in Asia and the Pacific region, and so on. Incorporates various updated sections, sub-sections, and revised tables and figures to represent the latest scenario, in most cases till 2015-16. Includes new government policies influencing business environment. Presents recent developments in business environment in relevant chapters. HIGHLIGHTS OF THE BOOK: Each chapter commences with an opening case, which emphasises the topic of importance, and ends with a closing case that helps in satisfying a learner from the point of view of understanding the chapter. Relevant box items are incorporated in the text, which carry practical examples and experiences to support in-depth learning. Case questions and review questions help in checking the learner's ability to understand the basic concept of the chapter. The text is supported by the companion website http://phindia.com/ahmed containing useful resources for the teachers and study aids for the students. The book is supplemented with Solutions Manual for instructors.