Explain the importance of imports and exports in Indian economy.
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Import and export play an important role in the economy of India. In recent years foreign trade of India growing rapidly. India has a notable position in the foreign trade business. The foreign trade helps to improve the economy of India by exporting the products that are available in India. Some major export products of India are mineral fuels, metals, chemicals, and textiles.
India is an agricultural country so India is dependent on other countries for products like electronics, vehicles, gold, and petroleum. Some major trading partners of India are the United Arab Emirates, the United States of America, The United Kingdom, and China.
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