Question

What is international trade explain various trade reforms related to foreign trade announced in india in recent time?

Answer 1

International trade is the goods and services exchange between different countries.

International trade is a great boost to the world economy by affecting the price, demand, and supply.

The international market has all kinds of goods like clothes, electronic appliances etc.

They also have services like consulting,tourism,banking, and transportation.

One should remember that a product that is sold at the global market is export and which is bought from the global market is imported.

Some of the recent reforms which were introduced were Foreign Trade Policy 2015-2020.