Indian economic development
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Transcript of Indian economic development
INTERNATIONAL INTERNATIONAL TRADETRADE
Sayed Eqbal 120633
WHAT IS INTERNATIONAL TRADE?WHAT IS INTERNATIONAL TRADE?
THE EXCHANGE OF GOODS & SERVICES BETWEENCOUNTRIES.
INVOLVES A LOT OF THINGS LIKE:INVOLVES A LOT OF THINGS LIKE:
+ JOBS + CONSUMPTION
+ THE FIGHT AGAINST POVERTY
+ NATURAL RESOURCES
+ FASHION
EXPORTS – Goods or merchandise that are sold to other countries in order to earn dollars.
IMPORTS – Goods or merchandise bought
from foreign countries.
Some terms……
TRADE DEFICIT – Occurs when value of a nation’s export is less than the value of its imports.
Exports < Imports
TRADE SURPLUS – occurs when value of nation’s export is greater than the value of its imports.
Exports > Imports
ImportanceImportance
1.Political Risk.2.War and Uncontrollable Events.3.Regulatory Risk
Limitations
International
Trade in INDIA
1. Backbone of the Indian economy. 2. Textiles and spices were the first products to be
exported by India.3. The Indian trade scenario evolved gradually
after the country’s independence in 1947.
IMPORTSIndia’s major imports comprise of crude oil machinery, military products, fertilizers, chemicals, antiques and artworks.
US $ 38242.96 million (Rs.228427.88 crore)
ExportsExportsEngineering and textile products, precious stones, jewelry, sugar, steel chemicals, zinc and leather products.
US $ 26479.72 million (Rs.158165.21 crore)
Thank you