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Indias Foreign Trade

Presented By: Vaibhav Varma Roll number: 100906113

Contents
Definition Importance of foreign trade(imports) Importance of foreign trade(exports) Who are engaged in foreign trade? Composition of Indias imports Composition of Indias exports Inference from composition of trade Direction of imports Direction of exports Inference from direction of trade

Definition
Buying of goods and services from other countries (import) and selling of goods and services to other countries (export) is called foreign trade Special feature- Exports are a source of financing imports

Importance of foreign trade(imports)


Help in development of economy To meet shortages Imports for better living standards Improving quality of production

Importance of foreign trade(exports)


Help in growth of economy 1. Exports help in increasing production 2. Exports help in employment and income generation 3. Expansion of related industries 4. Overall increase in demand for other goods Source of foreign exchange

Who are engaged in foreign trade?


Before independence, foreign trade was mainly carried on by private sector After independence, foreign trade was carried on by both government and private sectors Government setup agencies like STC, MMTC With economic reforms share of government agencies in foreign trade is reducing

Composition of Indias Imports


S.NO Commodity Group 1. 2. 3. 4. 5. 6. 7. 8. Petroleum, crude and products Capital goods Gold and silver Organic and inorganic chemicals Coal, coke and briquettes, etc. Fertilisers Metalliferrous ores, metal scrap, etc. Iron and steel Percentage share(2011-12) 30.6 19.9 12.6 3.9 3.7 2.6 2.8 2.5

9. 10.

Pearls, precious and semi-precious stones Others


Grand Total

6.7 14.6
100

Composition of Indias Exports


S.NO Commodity Group 1. Primary Products -Agricultural and allied products -Ores and minerals Manufactured goods -Leather and manufactures -Chemical and related products -Engineering goods -Textiles and textile products -Gems and jewellery Petroleum products Others Grand total Percentage share(2011-12) 13.8 11.2 2.6 60.6 1.6 12 21.9 9 15.1 19.1 6.4 100

2.

4. 5.

Inference from composition of trade


In past, India has been exporting primary products and importing industrial goods Now, Indias exports include engineering goods, handicraft, readymade garment, pearls, gems and jewellery etc. Now, Indias imports include capital goods and machinery, petroleum and petroleum products, which are required for economic development This reflects changing structure of our economy, an economy that is developing fast

Direction of Imports
S.NO Region/Country Percentage share(2011-12)

1.

OECD countries -EU -France -Germany -UK -North America -US -Asia and Oceania -Other OECD countries
OPEC Eastern Europe Developing countries -Asia -SAARC -Other Asian developing countries -Peoples republic of China -Africa -Latin America Others/Unspecified Grand total

30 11.9 0.8 3.3 1.7 5.5 5 5.7 6.9


34.6 1.6 33.4 27 0.5 26.5 12.4 4.1 2.3 0.4 100

2. 3. 4.

5.

Direction of Exports
S.NO Region/Country 1. OECD countries -EU -North America -US -Asia and Oceania -Other OECD countries Percentage share(2011-12) 33.6 17.5 11.7 11.1 2.7 1.7

2.
3. 4.

OPEC
Eastern Europe Developing countries -Asia -SAARC -Other Asian developing countries -Peoples republic of China -Africa -Latin America Others/Unspecified Grand Total

18.5
1.1 40.3 29.3 4.1 25.2 5.8 6.6 4.4 6.5 100

5.

Inference from direction of trade


Before independence, Britain was our major trade partner Now, we trade with a lot of other developed countries as well With free trade agreements and various other policies and exemptions , trade with developing countries is on the rise

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