With advances in communication, infrastructure, and logistics technology, the world is getting smaller day by day. As a result, we are witnessing an unprecedented connection between different regions of the world, unobstructed by borders. This translates to businesses as well. Companies are looking to expand their operations that cover multiple regions to tap into these markets. This phenomenon is not borne of expansionist ideals but is the basis of survival for businesses as competition increases, resources become scarce, and risk becomes more eminent.