mention any 5 features of foreign trade.(5 marks)
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1. More Share of GNP:
India's foreign trade has great significance for its GNP. In 1980-81, India's foreign trade constituted 12% of its G.N.P. In 2001-02 it increased to 23.4% of gross national product.
2. Less Percentage of World Trade:
India's share in world trade has been sliding down. In 1950-51, India's share in total import trade of the world was 1.8% and in total export trade was 2%. In 2001-02, it came down to 0.5% in import trade and to 0.2% in export trade.
3. Change in Composition of Exports:
After independence, there was change in the composition of India's export trade. Before, independence, India used to export agricultural products and raw materials. Now on export side, various types of finished products have been added to the number of export commodities.
4. Change in the Composition of Imports:
In the post independence era, composition of India's import trade has also undergone a change. Prior to independence, India used to import finished products comprising of medicines, cloth, motor vehicles, electrical goods, iron and steel etc. But now, its imports comprises of largely petrol, machines, chemical fertilizers, oilseeds, raw materials, steel, oil etc.
5. Dependence on Few Ports:
India's foreign trade is handled mainly by Bombay, Calcutta, Madras ports. Therefore, these ports remain over busy. During planning period Government of India has developed three more ports viz; Kandla, Cochin and Vishakhapatnam
hope it's help u if u like the answer mark as a brain list dear...!!
I hope it will help you dear...
1. More Share of GNP:
India's foreign trade has great significance for its GNP. In 1980-81, India's foreign trade constituted 12% of its G.N.P. In 2001-02 it increased to 23.4% of gross national product.
2. Less Percentage of World Trade:
India's share in world trade has been sliding down. In 1950-51, India's share in total import trade of the world was 1.8% and in total export trade was 2%. In 2001-02, it came down to 0.5% in import trade and to 0.2% in export trade.
3. Change in Composition of Exports:
After independence, there was change in the composition of India's export trade. Before, independence, India used to export agricultural products and raw materials. Now on export side, various types of finished products have been added to the number of export commodities.
4. Change in the Composition of Imports:
In the post independence era, composition of India's import trade has also undergone a change. Prior to independence, India used to import finished products comprising of medicines, cloth, motor vehicles, electrical goods, iron and steel etc. But now, its imports comprises of largely petrol, machines, chemical fertilizers, oilseeds, raw materials, steel, oil etc.
5. Dependence on Few Ports:
India's foreign trade is handled mainly by Bombay, Calcutta, Madras ports. Therefore, these ports remain over busy. During planning period Government of India has developed three more ports viz; Kandla, Cochin and Vishakhapatnam
hope it's help u if u like the answer mark as a brain list dear...!!
I hope it will help you dear...
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