Question

Direction of india's foreign trade indicate that india's foreign trade has become more diversified and its excessive dependence on which country has declined

Answer 1

By direction of trade we mean the countries with which India keeps international trade relations. It also helps us to understand the diplomatic relations maintained by India with other countries in direction of trade.

For the purpose of direction of trade, the countries to which India exports are broadly divided into following five groups

The group of countries to which India Exports are :-

Organisation for Economic Co-operation & Development (OECD) comprising of USA, Canada, European Union (EU), Australia and Japan.

Organisation of Petroleum Exporting Countries (OPEC) which includes Kuwait, Iran, Iraq, Saudi Arabia and others.

Eastern Europe which includes Romania, Russia and others.

Developing Nations which includes China, Hong Kong, South Korea, Singapore and Malaysia.