An Analysis on India’s Foreign Trade
International trade plays an important role in the development of economy as a whole. India is the 19th largest exporter with a share of 1.7 to the total global trade and 10th largest importer with share of 2.65 to the global merchandise trade, according to the WTO ranking for the year 2018. International trade enables the countries to widen the scope of marketing for its output. Exports of goods and services of a nation provide better employment opportunities to the people and higher standard of living of home as well as host countries. Exports lead to increase the efficiency on the national output and productivity of factors of production. Export of a country may become a growth driver of national economy. Expansion of foreign trade may bring variety of benefits to the people and economy of the country.
International trade, Exports, Imports, Economy, Principal commodities, Direction of Foreign trade, FDI, Foreign Exchange Reserves
Dr. S Senthil | Dr. S Kowsalya