Question

Describe the recent changes in the direction of india's exports and imports

Answer 1

Answer:

Analysis of direction of trade reflects on regional direction of country’s foreign trade from where trade is originated. It would be quite important to analyse the direction of India’s foreign trade and the transformation that has taken place in details. In the pre-independence period, the direction of India’s foreign trade was determined by the colonial spirit prevailing between India and Britain.

trade is originated. It would be quite important to analyse the direction of India’s foreign trade and the transformation that has taken place in details. In the pre-independence period, the direction of India’s foreign trade was determined by the colonial spirit prevailing between India and Britain.Accordingly, India’s trade was mostly connected with Britain or its colonies or allies. After independence, this trend was continued for some years. As in 1950-51, U.K. and U.S.A. contributed about 42 per cent of India’s total export earning and about 39 per cent of India’s import requirement was met by these two countries.

Explanation:

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Answer 2

Answer:

India has traditionally pursued an outward-looking trading policy, particularly before 1990.

Explanation:

• Because India is mostly an agricultural country, the items exchanged through the trading system are also out of date.
• So, before 1990, it was difficult to rely solely on the local market for profit, and hence outward-looking methods were widely used.
• Before 1991, India had the greatest level of export and import with the United States.
• The direction of commerce specifies which nations' goods will be circulated or traded, as every country doesn't need to specialize in manufacturing or selling the product in a comparable manner and at the same rate.'
• The quantity of a country's exports and imports is referred to as its trade direction.
• A recent shift in trade direction has been seen with a country such as the United States.
• The ratio has been somewhat reduced.

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