Swot Analysis Of International Trade

892 Words4 Pages

International trade is exchange of capital, goods, and services across international borders or territories.India’s major imports comprise of crude oil machinery, military products, fertilizers, chemicals, gems, antiques and artworks. Indian exports comprise mainly of engineering and textile products, precious stones, petroleum products, jewellery, sugar, steel chemicals, zinc and leather products.
Year Merchandise in Million $ % Growth Services in Million $ % Growth
2014-15 -144179 -2.32% 75683 3.73%
2013-14 -147609 -24.56% 72965 12.40%
2012-13 -195656 3.11% 64915 1.27%
2011-12 -189759 49.04% 64098 45.41%
2010-11 -127322 7.72% 44081 22.39%
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Countries like China, japan and Taiwan has improved their efficiency in production and are able to reduce the price of the product, and India being country with huge consumer base and high Demand has become their prime market. Also the goods produced by Indian manufacturer are being exported to neighbouring countries like Bangladesh; Srilanka, Nepal has made India to focus in Asian countries for their trade.
India has always followed a development model for its International trade since the liberalization in 1990s.The services sector in India has shown a tremendous growth which can be attributed to ever increasing IT sector in India. Manufacturing sector on the other hand has grown in comparatively slower pace. The overall performance of the Indian manufacturing sector has widespread implications for various aspects of the economy; employment, being one of the chief areas of impact. Since this sector generates large scale employment for low and medium skilled workers, it is imperative to develop features which will create a conducive environment for industries to grow further. The Make in India campaign by the government has given the much needed push to the manufacturing sector. So we can say that India is performing decently and there is huge opportunity for India to grow and increase forex reserve and attract more FDI and FII by expanding its International
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