Explain the changes that have taken place in Indias international trade in recent years in three points.
Answers
Answer:
Inadequate Growth of Exports:
Another very peculiar situation that the country has been facing is a very slow growth in respect of its exports. In the initial period, total value of exports in India rose marginally from Rs. 947 crore in 1950-51 to Rs. 1,535 crore in 1970-71, showing an increase of only 62 per cent.
Answer:
Inadequate Growth of Exports:
Another very peculiar situation that the country has been facing is a very slow growth in respect of its exports. In the initial period, total value of exports in India rose marginally from Rs. 947 crore in 1950-51 to Rs. 1,535 crore in 1970-71, showing an increase of only 62 per cent.
Change in composition of exports : The export trade has undergone many changes. India used to export tea, jute, leather, iron ore, spices etc. The manufactured goods are now exported such as engineering goods, readymade garments, handicrafts etc.
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