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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