Question

Analyse the position of India as a producer and exporter as well in the world market

In reference to class 10 economics

Answer 1

India is the 17th largest exporting country in the world as per the Economic Complexity Index (ECI) of 2017.

India produces and exports many products to many countries worldwide.

Some of the top export products from the country include Refined Petroleum, Packaged Medicines, Rice, Diamond and Jewellery.

Apart from them, tea, spices, and herbal products are also produced and exported in large amounts to many countries.

Answer 2

India has a large number of manufacturing industries which contribute substantially the

country’s income. Following is the India’s position as a producer and exporter of some goods in the world trade markets:

• India is one of the leading producers and exporters of agricultural goods in the world

markets.

• Textile industries make a significant contribution to the Indian economy. Its foreign exchange earnings are about 24.6%. According to recent published data, India is the second largest exporter of textile goods in the world market.

• India is the largest cultivator and producer of jute fiber in the world. However, Bangladesh is the leading exporter of jute products in the world. India stands second in the production of sugar in the world.

• The iron and steel industry is considered as basic industry in the world. According to the latest figures, India is the fourth largest producer of crude steel and the largest producer of crude iron the world.

• Chemical industry is one of the oldest industries in India. It is the third largest in Asia and twelfth largest in the world. India is one of the top five producers of agro chemicals, plastics, polymers and various organic and inorganic chemicals in the global market.

• Indian IT industry is famous for providing cheap and efficient services to the major companies in the world market.