broad trends in india's exports in recent years
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The export of merchandise has changed over the years in India. Until 1991 there were hardly any exports. But due to some reforms in policies and rules, exports raised. With this increase in exports, the composition and direction has also changed. Even with the adverse conditions, India has managed to shift from conventional to non conventional products. Along with this from developed trading partners to
developing trading partners.
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India became a part of free trade by joining the globalisation movement of fast growing economies of the world in 1991. Ever since then, India's exports have risen by leaps and bounds. A country which had been a traditional exporter of jute products and tea, today boasts of exports of automobiles, engineering goods, ready-made garments, chemicals and metals. Many export-oriented units have come up across the country and India has signed bilateral preferential trade agreements with several countries which has given a tremendous thrust to our exports.
In the services sector, the sunrise Information Technology, or IT, industry has taken quantum leaps year on year ever since we declared a liberal economic policy. Indian hotels have set up establishments abroad, which too is earning valuable foreign exchange for the country.
In the services sector, the sunrise Information Technology, or IT, industry has taken quantum leaps year on year ever since we declared a liberal economic policy. Indian hotels have set up establishments abroad, which too is earning valuable foreign exchange for the country.
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