Question

Define Trade Policy. What are the recent changes in Trade Policy in India?

Answer 1

The integration of the domestic economy through the twin channels of trade and capital flows has accelerated in the past two decades which in turn led to the India’s GDP reaching Rs 170.95 trillion (US$ 2.47 trillion) in 2017-18*, and Rs 190.54 trillion (US$ 2.76 trillion) in 2018-19**. Simultaneously, the per capita income also nearly trebled during these years. India’s trade and external sector had a significant impact on the GDP growth as well as expansion in per capita income.