Discuss the trend of india's foreign trade from 2001 to 2010
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India has became an increasingly important part of the global economic landscape over the past decades.
Indian economy and foreign trade have are closely interlinked and they have come along way in value terms.
Indian economy has became more open to international trade, it's workforce is growing strongly and also the rate of investments have picked up following economic reforms.
The structure of Indian economy differs in some important respects from that of most other developing economies.
The services sector of the economy is larger than in other countries with similar level of per capita income.
Indian foreign trade has occurred more gradually with much of the decline in the agriculture;s share of GDP being absorbed by the service sector.
This is mainly due to the fact that manufacturing investments historically have been closely regulated, in contrast the services sectors have been subject to less regulation.
The rate of growth in investments has increased over the past decades and the investments share in India is now at a level that is consistent with those that prevailed in South Korea and China when these countries were at the same level of development.
The growth in investments was partly due to the increase in the foreign direct investment (FDI) In flows from around 1/2 percent of the GDP to above 2 percent of GDP in a very short period of time.
The Indian government posses to approve foreign investments were simplified and the restrictions on the foreign trade were relaxed hence there was free movement.
Indian economy and foreign trade have are closely interlinked and they have come along way in value terms.
Indian economy has became more open to international trade, it's workforce is growing strongly and also the rate of investments have picked up following economic reforms.
The structure of Indian economy differs in some important respects from that of most other developing economies.
The services sector of the economy is larger than in other countries with similar level of per capita income.
Indian foreign trade has occurred more gradually with much of the decline in the agriculture;s share of GDP being absorbed by the service sector.
This is mainly due to the fact that manufacturing investments historically have been closely regulated, in contrast the services sectors have been subject to less regulation.
The rate of growth in investments has increased over the past decades and the investments share in India is now at a level that is consistent with those that prevailed in South Korea and China when these countries were at the same level of development.
The growth in investments was partly due to the increase in the foreign direct investment (FDI) In flows from around 1/2 percent of the GDP to above 2 percent of GDP in a very short period of time.
The Indian government posses to approve foreign investments were simplified and the restrictions on the foreign trade were relaxed hence there was free movement.
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