ipl-logo

Essay On Foreign Trade

2514 Words11 Pages

Foreign trade plays an important role in the economic growth of developing economies like India. Though India is an emerging economy in the world, its foreign trade scenario is not very encouraging. India ranks 20th in merchandise export and 13th in merchandise import while it stands at 7th rank as far as commercial service export is concerned. Its share in world total export is only1.8 percent while in import it is merely 2.12 percent. India has diversified its export basket and also export market over the years but substantial diversification has not taken place. India has become an active and influential player in shaping world trade policy, it is still a small player in world trade and global market. The focus of the government trade policy has been on creating a free environment for trade, streamlining and simplifying the procedures, increasing production for export, focusing on quality of the product, technological up gradation. There are opportunities for India to capture/make access in African countries and other emerging market economies in the world. The …show more content…

Asian, Middle East and African countries are in our proximity resulting advantage in transport cost. Problems, needs and levels of development of developing countries are similar. India has been exporting consumer and capital goods to these countries due to comparative cost advantages. Demand from least developed countries for capital goods, consumer goods, technology and various services has ever been increasing. Due to sufficient development of industry, science and technology, India has been exporting these good and services to least developed countries. Crude and petroleum products are imported from OPEC countries and essential goods and services are exported to these

Show More
Related

  • International Trade Dbq Essay

    1640 Words  | 7 Pages

    In the 1500’s the world was run on an Independent world, which meant that all countries were depending on their selves. Throughout the early to late 1500’s countries were trading with each other for goods either with money or other goods that other countries were unable to produce themselves. There were trade circles all over the world that trade runners would travel to unload their cargo and stock up products they receive from trade. These countries were trading materials such as gold, sugar, tobacco, and metals, and other raw materials that were valuable. By the 1700 the world was turning more interdependent.

    Read More

  • Trans-Saharan Trade Dbq Essay

    305 Words  | 2 Pages

    The Trans-Saharan trade network was a vital factor in the affluence of Western African civilizations. In Document A, is a map of Ibn Battuta’s journey through various trade routes spreading through multiple continents during the fourteenth century. Small pictographs are drawn on the map to display the aspects of each culture that Ibn Battuta visited (Doc A). The map illustrates the extent of the Trans-Saharan Trade Network and how it connected West Africa with other regions across the globe.

    Read More

  • Assess The Impact Of Globalization On Australia Security

    1136 Words  | 5 Pages

    Currently Australia must export supplies to other countries so that it can make money to pay for the imports coming into the country. As the Dr Gupta said, Australia must exports minerals and agricultural products so they can import televisions, clothing, and cars. This comes at a cost though since the total amount of exports is solely reliable on how competitive their prices are worldwide. Thus if salaries and wages are too high and businesses are inefficient, then the cost to produce items are also higher resulting in Australia being less competitive in the global marketplace.

    Read More

  • Ap World Trade Dbq Essay

    790 Words  | 4 Pages

    For any country that wants to survive in the toughest of times, they need to have good trading capabilities. Very few countries are able to sustain themselves without indulging in intensive trade with other countries. Trading has been considered a good thing in the past, but with the changing world, there are doubts about the benefits of trading. There are some factors that lead to the development of trade networks between countries. When people started to settle in larger towns, the idea that you had to produce absolutely everything for survival, began to fade.

    Read More

  • Environmental Problems In Honduras

    841 Words  | 4 Pages

      Saudi Arabia exports, or sells, much of this oil to countries like the United States.   Oil is very important to the economy of Saudi Arabia.  “ (Natural Resources Helps Communities Grow, 1) So, if in Honduras natural resources were protected it will help the economy because they can be exported to other

    Read More

  • International Trade Dbq Essay

    465 Words  | 2 Pages

    Trade has been a driving force in global history, shaping societies and economies across the world. It helped bring in many resources to other countries through cultural diffusion and opened new opportunities for citizens. Nevertheless, trading has also caused overproduction in certain areas and limited resources available. Trade has been shown in global history through Middle Eastern trade routes (Document 1), Timbuktu during the height of the Mali Empire (Document 2), and Caravans from the northern coast (Document 2). Trade had a significant impact on culture and society.

    Read More

  • Global Trade Dbq Essay

    841 Words  | 4 Pages

    Benjamin Franklin said, “No nation was ever ruined by trade.” During the early modern era, technological advancements in shipbuilding and increased knowledge on wind and current patterns made global trading possible. The increased flow of trade in the 1300s through 1800s created important social relations and economic opportunities due to the increased integration of foreign people and desire to be wealthiest and most powerful, while improving government, culture, and ideas in the modern world. Global trading increased the spread of people, which also increased the spread of religion and culture.

    Read More

  • The Trade And Navigation Acts Essay

    1048 Words  | 5 Pages

    Every year, Americans across the country gather to celebrate their independence and freedom from the British government. On July 4th, 1776, America officially declared their independance from England, and the American people would be free from British tyranny. In the beginning, the Colonists did not want to be independant from the British Government, and were happily living in America and making money and embracing their freedoms(Notes Cite). However, the British government began to take away their freedoms and their rights by using taxes and implementing acts that upset the Colonists(Notes Cites).The colonists came to America to free themselves from persecution in Britain, and to start over and create a better life for themselves. In the

    Read More

  • Free Trade In Canada Essay

    1167 Words  | 5 Pages

    The history of Canadian public administration over the years also plays a crucial role in the system. The Canadian public administration system was initially based on the British government system but has since then transformed into a system that is unique to the country (Drysdale, p.37). That interplay evolution made an independent system for Canada, and is a “result of Canada’s political culture, and the need for public administration to adapt over time, while upholding the principles of democracy” (Drysdale, 37). Therefore, the very reason the new Canadian public administration system came to be is because of the interplay of democracy and political culture, which is arguably the greatest influence it has had. The current system in place

    Read More

  • Us Constitution Dbq

    1144 Words  | 5 Pages

    The united states constitution was starting to develop on May 25th in 1787, it was ratified on May 29th 1790. The constitution took three years to be ratified by all the colonies. The reason for this was because there were so many issues needing to be resolved between the different groups in the states, the federalists and the antifederalists, the north and the south, and all of these very contradicting groups. None of these groups actually agreed on anything and for the most part they believed the complete opposite of their counterpart. There were many compromises that had to be made in order for the constitution to be agreed upon and for the system of government that we have now to be created.

    Read More

  • The Trade Embargo

    1200 Words  | 5 Pages

    Decades of isolation and the sanctions from the trade embargo brought upon Cuba by the United States in 1962 has failed to accomplish the goal of overthrowing a Communist party and promoting a democratic society. Since the trade embargo and broken ties with the United States, Cuba has not flourished like it did before the Fidel Castro regime seized power in 1959, and it is still controlled under Communist rule today. There is still no freedom of the press, free elections or human rights in Cuba, even after 50 years of U.S. isolation and the trade embargo, so why does the U.S. keep doing the same thing and expect a different outcome? It is time to lift the trade embargo on Cuba and help lift Cuba back up economically to encourage political reform.

    Read More

  • Industrialization In America Essay

    703 Words  | 3 Pages

    The Industrialization of America no doubt was a leading factor that turned it into the super power it has become today. America was large enough, had enough supplies, and boosted its American innovators that the Industrialization of the country catapulted it into one of the most powerful nations in the world. This feat was very impressive considering how young the country was at the time and still is today. All of this, however, would not have been possible without the average American worker working the factories and making the goods. From the Civil War to the beginning of Americas imperialistic period, the worker faced hardship and adversity in their lives battling out working conditions or struggling to maintain a living with such unfair

    Read More

  • The Causes Of Globalization In Europe In The 20th Century

    1193 Words  | 5 Pages

    Throughout the twentieth century, countries were creating treaties, trade blocs and global governance institutes to promote open market and free trade. Europe’s golden age of trade with very low tariff and high economic development began mid-19th century and collapsed

    Read More

  • Advantages And Disadvantages Of Global Trade And International Trade

    998 Words  | 4 Pages

    International trade is also knows as a globe trade which give the country opportunity to expands their markets for both good and services that otherwise may not have been available in other countries. This type of trade also give advantages for world to rise the economy in term of prices, supply and customer demands, affect and are affected by global events. All of the good and services can be found on international market. International trade will involve two types of process which be export and import. Export is a function of international trade in which the goods produced in a country will be sent to another country for future sale or trade.

    Read More

  • Advantages And Disadvantages Of Import Substitution

    1399 Words  | 6 Pages

    There are many different approaches to development in which countries over the years adopted to further develop and grow their economy. Some countries adopted the approach of import substitution in which they try to decrease their dependency on other nations and protect and foster domestic small companies. The disadvantage for an import substitution based industry, ISI, is although it achieves growth it does so through a greater period of time. On the other hand, growth and development from export oriented industries, EOI, has greater results and is so much faster than import substituting industries. Examples of countries that adopted import based industries are countries of Latin America while countries that adopted Export oriented Industries are countries of East Asia.

    Read More

More about Essay On Foreign Trade

Open Document