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FOREIGN TRADE — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE3 Marks
Question
Discuss India’s share in world trade.
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Answer

  • If we look at the growth of world trade then wq can see that India’s share in the world trade has remained low.
  • However, in present times India is playing an important role as a developing nation in determining the direction of world trade.
  • India’s exports have grown significantly. Moreover, rise in exports are also playing an important role in increasing our $GDP.$
  • The down side is that even though India’s exports are rising significantly, our imports are still higher than our exports. Imports also constitute a greater percentage of $GDP$ than exports.
  • Rising imports is a sign that India is developing and so it is demanding more and more goods.
  • Rising exports means India is able to produce exportable surplus of desirable , quality and sell it at competitive prices in the world market.
  • Share of India’s total trade in world trade in $2014-15.$ was about $2.07\%$ at $19th$ rank.
Share of India’s exports in the world exports
Financial Year Share in global merchandise exports Rank
$2005$ $0.9$ $29th$
$2010$ $1.5$ $19th$
$2012$ $1.6$ $19th$
$2013$ $1.7$ $19th$
$2014$ $1.7$ $19th$

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