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Question
Explain the characteristics of International trade of India.
Solution
- India has trade relations with all the major trading blocks and all geographical regions of the world.
- India was able to export its manufactured goods after improving its productivity and product quality thanks to international trade.
- The commodities exported from India to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc.
- The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products.
- India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology
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