Question

explain the recent trends in foreign trade of India

Answer 1

As per the commodity-wise exports data released by Directorate General of Commercial Intelligence and Statistics (DGCI&S) during 2011-12 (April-June), manufactured goods continued to maintain the largest share with 66 per cent, followed by petroleum products (18.4 per cent) and primary products (13.2 per cent). The rise in the share of manufactured goods essentially emanated from improvement in the share of engineering goods. Reflecting the robust demand in the new markets like Latin America and Africa, exports of engineering goods during April-June 2011 were more than double the level recorded during the corresponding period of previous year. Within engineering, exports of all major categories, viz., transport equipment, machinery and instruments, manufactures of metals, iron and steel, and electronic goods have recorded higher growth.

Answer 2

The main trends that are going on in foreign trade are as follows:

• Cooperation among countries – In this, the countries are corporation on the basis of international organisations, consultations, and even the treaties.

• Even the dynamism is forced upon the cultural, political and even economy.

• Technology transfer is the process that helps in the dissemination of commercial technology.