1.

“No country can survive without international trade in the present Global World”. Explain the statement.

Answer»

(i) As the resources are space-bound, no country can survive without International trade.
(ii) Export and import are the components of trade.
(iii) The international trade helped India in increasing its productivity and improving quality of its products and then exporting the manufactured goods.
(iv) International trade had also helped India to import recent technology to improve its productivity and the quality of the product.
(v) Government’s policy of globalization and liberalization had helped four folds in making its place in the Global world.


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