Question

Comment on the changes in composition of Global trade since.1991

Answer 1

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Read this essay on the changes in the Volume of India’s Foreign Trade Since 1991 !

Volume of Foreign Trade means the total value of imports and exports. During the period ranging from 1990 to the present time, there has been a tremendous increase in its volume. In the year 1990, volume of India’s foreign trade amounted to Rs 75,751 crore and in 2009 it touched the figure of Rs15,89,540 crore.

Thus, over a period of 18 years (1991-2009), the volume of foreign trade witnessed an increase of about 21 times. During this period, imports increased from Rs 43,198 crore to Rs 10,03,947 crore whereas exports increased from Rs 32,533 crore to Rs 5,85,593 crore.

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