India’s International Trade

India is one of the fastest growing economy and since liberalisation it has experienced rapid
economic development making it third in terms of Purchasing Power Parity. India exports
approximately 7500 commodities to about 190 countries, and imports around 6000
commodities from 140 countries.
India's key exports are engineering goods, petroleum products, gems and jewellery,
agriculture products and textiles. It is also a major exporter of information technology and
business outsourcing services. India major imports are petroleum products, gold and silver,
electronic goods and precious stones.
Even though India has made development in various fields, and gained a huge momentum in
export-import, it has recorded trade deficit in every consecutive year.

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Import-Export
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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
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Import Export

Government of India launched Atmanirbhar Bharat Abhiyaan(Self-sufficient India program)

on 12th May, 2020 with a special economic package valued at INR 20 lakh crores, which is
equivalent to 10% of India’s GDP with a vision to make India self- reliant and to make sure
that we are well prepared to face the challenges and threats posed by Covid-19. It is aimed to
reduce the trade deficit for the growth of economy, by manufacturing goods and services in
our country, this will help in generating employment and reducing poverty in our country.
The Indo-China rivalry over Ladakh border faceoff have given rise to a new moment of
boycotting Chinese product. China being one of the largest importers of India, plays a huge
role in India’s trade deficit. By shunning their product there is going to be huge impact on
balance of trade.
By Atmanirbhar Bharat Abhiyaan and boycotting Chinese product we can expect a reduction
in trade deficit and start our journey on a high spirit in making India self-sufficient.