write a note on changing nature of the international trade in the last 15 years
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Over the last 15 years, the change that has occurred in India with regard to international trade has been impressive. We have got lion share with regard to Information Technology. We were able to increase our foreign exchange earning capacity with regard to our knowledge and our geographical position in map. Our outsourcing earning was because of the geographical location. Tourism, Agriculture etc., have shown very good improvement with regard to exports.
The changing nature of the international trade for India, in the last fifteen years, has been impressive. Exchange of information and knowledge has surpassed exchange of goods and commodities. Through its advanced software knowledge and excellence in the field of information technology, India has emerged as a viable contender at the international level and is earning huge amounts of foreign exchange through the same. Tourism too has added to India’s upgraded position in international trade. In 2004, there was a 23.5% increase in foreign tourist arrivals as against the number in 2003. Thus, international trade for India has undergone a cognisable change in the past fifteen years.