|
Answer» India’s Share in Global Trade: - India’s share in the world trade has remained low but as a developing nation India plays an important role in determining direction of world trade
- In india the growth rate of imports has been higher than the growth rate of exports. Hence, imports constitute a greater percentage of GDP than exports.
- India is able to export more because it is now able to produce better and desirable quality of goods at a competitive price and is able to generate more exportable surplus.
- Share of India’s total trade in world trade was about 2.07% in the year 2014-15.
- Share of India’s exports in the world exports was 1.7% in the year 2014 and the rank of India in world’s export was 19.
|
