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International Trade
Question
Mention the characteristics of the India's foreign trade.
Solution
The characteristics of India's foreign trade are mentioned below:
1. India has a share only 0.75% (2003–04) in the total world trade. About 90% of India's foreign trade is done through the sea. Countries sharing a land border with India are either economically backward or they have a political rivalry.
2. As a result of very large population and a small amount of trade, the per capita foreign trade of India is quite low in comparison to that of developed and developing countries. India has an unfavourable balance of trade.
3.The total imports of India amounted 608 crores increased to 349931 crores in 2003–04 and the export during these years increased from 606 crores to 286442 crores. Most of the foreign trade is handled by only by the 11 major ports of the country
4. Today India exports goods to more than 200 countries and imports from more than 180 countries of the world. We export more than 8250 types of goods and the diversity of goods imported has also increased.
5. Project exports : This is an invisible item of export. It refers to export at skills include contracts of consultancy, construction and industrial projects. Exports of electronics, computer hardware and software had increased significantly during the recent years.
Some More Questions From International Trade Chapter
Which one of the following is India's largest trading partner in 2003–04 ?
Mention the characteristics of the India's foreign trade.
Distinguish between a port and a harbour.
Explain the meaning of hinterland.
Name important items which India import from different countries.
Name the ports of India located on the eastcoast.
Describe the composition of export and import trade of India.
Write a note on the changing nature of the international trade of India.
Name any four major international airports of India.
Mention any four important items which India exports to other countries.
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Mock Test Series
Mock Test Series