Question

write a note on the changing nature of the international trade in the last fifteen years

Answer 1

Answer:

Explanation:

There has been a change in the nature of our international trade:

(i) Since 2004-2005, the share of agriculture and allied products, ores and minerals, chemical engineering goods has been increasing.

(ii) Exchange of commodities and goods have been superseded by the exchange of information and knowledge.

(iii) India has emerged as a software giant at international level.

(iv) India is earning large foreign exchange through the export of information technology.

(v) Imports: Commodities imports include petroleum and petroleum products 41.87% and Coal, Coke – 94.17%

Answer 2

Trade between countries is known as international trade. International trade has undergone a

vast change in the last fifteen years. Exchange of goods and commodities have been superseded

by the exchange of information and knowledge. For e.g., – India has emerged as a software giant

at the international level, and it is earning large foreign exchange through the export of

information technology.International trade also depends on the relationship between the

countries and other external factors like duties and tariffs on the transportation of goods. In the

last fifteen years, different trade blocks have emerged which have changed how international

trade was conducted previously.