Question

changes in the pattern of import & export of different product

Answer 1

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Among several features of globalization, one relates to increasing interactions among nations and removal of barriers to facilitate movement of goods, capital, labour and technology. It is a process that renders various activities and aspiration worldwide in scope or application. As a part of this process of increasing integration of the world, many countries have adopted economic reforms and liberalization in their own ways. The rapid integration of Brazil, Russia, India, China and South Africa into the world market was an important element of globalization. Trade is the primary manifestation of this increasing integration and changing organizational structure of the global economy which has been much more extensive than in the past involving more countries & regions. In the similar way, it is also much more intensive as foreign trade became a key component of most countries economic activities.

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Answer 2

Explanation:

India exported Non-agglomerated iron ores and concentrates , worth US$ 541,204.22 million. India exported Petroleum oils, etc, (excl.Its top imports are Crude Petroleum ($74.7B), Gold ($39B), Diamonds ($20.7B), Coal Briquettes ($19.4B) and Petroleum Gas ($12.2B). The top export destinations of India are the United States ($44.3B), the United Arab Emirates ($28B), China ($14.8B), Hong Kong ($12.7B) and Germany ($9.9B).