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प्रश्न
Explain briefly the different types of Foreign trade?
उत्तर
A. Import Trade:
Import trade means buying goods from a foreign country for domestic use. Example. India imports petroleum products from Gulf Countries. India imports machinery, equipment, materials, etc. It is necessary to speed up industrialization, meet consumer demands, and improve the standard of living.
B. Export Trade:
Export trade means the sale of domestic goods to foreign countries.
Examples:
- Export of Iron ore from India to Japan
- Selling of Tea from India to England.
- Export of jasmine flowers from Madurai to Singapore
Export trade is necessary to sell domestic surplus goods, to make better utilization of resources, to earn foreign exchange, to increase national income, to generate employment, and to increase Government revenue
C. Entrepot Trade:
Entrepot trade means importing goods from one country and exporting the same to foreign countries. lt is also known as “Re-export trade’.
Example Indian diamond merchants in Surat import uncut raw diamonds from South Africa. They cut and polish the diamonds in their units in India and re-export them to the International Diamond Market in Amsterdam.
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संबंधित प्रश्न
Explain the meaning of Entrepot trade.
Give two examples of Entrepot trade.
Identify the correct statement from the following:
Why are tariffs imposed?
The domestic country may sell goods to the rest of the world. These are called ______
An account that records the trading of foreign assets and liabilities during the year by a country is known as ______
Identify the correct sequence of alternatives given in Column B by matching them with respective Column A:
Column A | Column B | ||
(1) | Borrowings from IMF | (a) | Current Account |
(2) | Import of shipping services | (b) | Invisible items |
(3) | Export of machinery | (c) | Accommodating items |
(4) | Foreign aid | (d) | Visible items |
After independence, India had favourable Balance of 'Ifade situations for:
Foreign embassies in India are a part of India's:
Which of the following is NOT true about foreign trade during the colonial rule?