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Foreign trade trends in India
Growth and Instability of Foreign Trade in India
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203 b
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Foreign trade between nations is very important. Commodities that cannot be produced at home can be obtained from other countries. According to latest WTO data, India s share in the world merchandise exports increased from 0.8 per cent in 2004 to 1.7 per cent in 2010. India also improved its ranking among the leading exporters in world merchandise trade from 30th in 2004 to 20th in 2010. The Indian exports value were just Rs.485 crores in the year 1949-50, it was picked up to Rs.1157475 crores in 2010-11. During this period the growth rate of Indian exports registered 13.5 per cent per annum and statistically significant at 1 per cent level respectively. The Indian imports expenditure valued at Rs. 617 crores in the year 1949-50, these imports jumped to Rs.1605315 crores in the year 2010-11. From the analysis, the trade deficit will keep increasing and reach Rs.781699 crores by 2025. Finally, this work has immense value of Indian trade. This book provides detail information on exports and imports in India and it is also more helps to know the Indian trade balance particularly to study the planning era and to know projections of India s foreign trade by 2025.
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