Question

Describe the direction of foreign trade of India.

Answer 1

Direction of foreign trade means the countries to which India exports its goods and the countries from which it imports. Thus direction consists of destination of exports and sources of our imports. ... Therefore, UK used to hold the first position in India's foreign trade.

Answer 2

The direction of Indian foreign trade is a way in which India exports it’s a product to other countries and imports it from different countries.

Explanation:

Foreign trade of India means where the Indian products are exported to other countries and in the same way India imports goods from different countries. Before Independence of India, under British rule, most of the trade had been done with Britain but, now USA holds the first position.

In the session of 2009-2010, the share of Asia and ASEAN region countries like East Asia, Mid- Eastern, South Asia, and Gulf countries regarded 55% of India’s total exports and India imports 61.3% from Asia and ASEAN countries. In the period of April-September 2009-2010 the total imported goods were Rs 29,256.29 and compared to the last year it increased by 38.1%.