We are providing many paragraphs, Essay in very simple language with the boundaries of different words here. Here you can find Essay on Advantages of International Trade in English language for 5,6,,7, 8, 9, 10, 11, 12 Students and banking or other competitive exams students in 2275 words.
The protection of people in the time of natural calamity comes from international trade. During a famine situation in a particular country, foods can be obtained from the international market and millions of priceless lives can be saved.
There is a large scale competition among the quality and value of goods between countries. Buyer countries buy cheapest and best accessories. USA, France, Germany, UK, etc., produce and sell weapons at affordable rates due to mass production. U.S.A. Due to mass production, it produces affordable cars. Similarly, there is a case with Japan (cars), China (toys) and Switzerland (watches).
Many countries do not have raw materials. This prevents their industrial progress. These countries buy raw materials from other countries and convert it into finished products. It helps in their international business. Japan does not have cotton, iron ore etc. But by importing these raw materials from other countries, Japan has become one of the world's greatest industrial veterans.
Especially in the days of war, dependence on foreign trade is risky. Apart from this, if the country relies on industrial industrial goods, then the country's own industrial growth becomes dim.
Indian goods like spices, handicrafts, jewelers, garments etc. were marketed in some neighboring countries as 3000 BC.
When the time changed, the amount of foreign trade changed, mercy and direction. However, due to the increase and diversification of the Indian economy, there was a real change after independence.
At present, India exports more than 7500 items and imports nearly 6000 and has business relations with more than 150 countries of the world. In comparison to Rupee, the change in foreign trade has increased beyond the imagination of Rs. 4, 29, 246 crores (2000-2001)
Since ancient times, India is famous for its silk, spices, jewelry, jewelers, artifacts, brain, cotton cloth etc. Arrival of Europeans and Arabs by the Silk Route or the Sea is a sufficient evidence of India's attraction as a business partner.
Arrived here for British business but ruled the country for almost 200 years. It was during British rule that business pattern was severely affected. India was reduced to the production of raw materials and importer of finished products from the UK or its other domains.
By the time the British left, by the two hundred years of subordination, India had been economically backward. Production of most indigenous products such as moslin, jewelery, etc. which became an important part of the export goods was severely affected during the British rule. The country was dependent on most of the British made of fully manufactured goods.
Since the 1950s, there is a negative balance of payments in India's foreign trade, i.e. the import has always been more than export but the items have changed in the import-export list. By the year 1970, India was importing cereals. Now the major import is crude oil and petroleum products. Export of tea, jute and coffee in the past few years has reduced, while computer software and project exports have become important.
India is the world's fifth largest economy and on the basis of purchasing power power (PPP) is the second largest gross domestic product in emerging economies. In the 1980s, the Indian economy went into a high growth path, the economic growth rate was 5.5% per annum annually.
With the adoption of policy of reform and adoption policy in 1991, there has been an increase in economic development. Presently, savings rate is 25.6% of GDP and inflation is less than 6%. About 31% of India's GDP is in primary sector, 28% in manufacturing and 41% in service sector.
Private sector is the basis of the economy, 75% of GDP is growing, whose share is growing rapidly. The liberalization of the economy has increased the competitiveness of Indian firms and has created exciting new opportunities for domestic and foreign investors.
Acceptance reforms are in the policies related to economy, trade, industry, foreign investment, finance, taxation and almost every sector of the public sector. After successfully achieving macro-economic stabilization, the economy is now clearly on the path of global integration, rapid growth, better productivity, innovation and international competition.
Most controls on trade, foreign investment and foreign currency have been relaxed or eliminated. The Indian Rupee is now variable over the current account and the convertibility on capital account is closed. Private participation is allowed in almost all industries and foreign investment is generally treated as domestic investment. The Indian government has set a goal of attracting $ 10 billion foreign investment every year. Foreign investment is especially welcome in the basic investment sector.
A dynamic and outsider business policy is an important component of India's economic reform program. Recent liberalization measures include significant scaling of tariff barriers, virtual removal of the system of import and export licenses, simplification of processes and liberalization of exchange rate mechanism.
In the last few years, India's exports are growing rapidly. In the price terms, Rs. Rs. 53,688 crores in Rs. 2, 01674 crores in 2000-2001
A look at India's business profile reflects great diversity in both structure and direction of both import and export. Major exports include gems and jewelers, readymade garments, leather and leather products, medicines and pharmaceuticals, machinery and equipment, iron ore, marine products, transport equipment and tea.
This account is for more than half of India's total exports. The United States, Japan, Russia, Germany and UK are the major destinations. For import, the major sources of India come to the United States, Germany, Saudi Arabia, Belgium and Japan.
Import of India mainly consists of crude oil and petroleum products, edible oils, iron and steel, non-ferrous metals, fertilizers, capital equipment and raw diamonds. India also imports pearls, precious and semi precious stones, machinery, inorganic and organic chemicals, artificial resins and plastics too.
France, the UK, Belgium, Netherlands, Spain, Switzerland and Italy are eight countries which are responsible for most trade with Western Europe. The main items of export in this area are gems, jewelers, handicrafts, artifacts, tea, coffee, spices, leather goods, marine products, carpets, plastic / linoleum products, computer software etc.
The main items of import from this region are semi precious stones, gold, machinery, transport equipment, metal scraps, project goods, industrial technology, defense equipment and pharmaceutical products.
Since most businesses are limited to these eight countries only, there is a great possibility for the development of trade relations with the rest of the European Union and European Free Trade Union Associations.
The main obstacle in this effort is the trade barriers kept by EU countries as anti-dumping, anti-subsidy investigations and countervailing duties, the Indian government has initiated talks on the first summit in Lisbon and the second in June 2000. New deli in November 2001. This Summit and New Exim Policy 2002-2007 is a step towards improving trade relations and increasing India's share in international trade.
India traditionally enjoyed close and versatile relations with eastern European countries such as Russia, CIS State, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Slovak Republic, Slovenia, Macedonia and Republic is. Yugoslavia
Prior to the preceding USSR break-up, India was the largest trading partner. In 1990-9, the total trade with Russia was a tune of rupees. 7,803 crores and Rs. 3,360 million with other countries in Central and Eastern Europe But according to the figures, trade with this region is on the decline.
The main reasons for the decline in trade are:
1. Centrally-planned, transition into market-oriented economies from socialist economics.
2. Contrast of old business system.
3. Serious liquidity constraints in these countries.
4. Pieces of markets.
5. High interest rates
6. An increase in the demand for sophisticated packaging and quality goods from other countries like China, Turkey and EU.
However, this area is an important trading partner and the main items of export in this area are cotton yarn, hosiery goods, clothes, textiles, coffee, tea, transportation equipment and others.
Major import from this area is heavy machinery, biological chemicals, project goods and iron and steel. India-Russian bilateral trade is responsible for 80% of the business with this area. Therefore, there is the possibility of further development of trade with other European countries.
East Asia and Oceania
Trade agreements with major countries such as Japan, China, Taiwan, S Korea, Australia, New Zealand, Malaysia, Indonesia, Vietnam, Thailand, Philippines, Cambodia and Myanmar. India is also a full dialogue partner of ASEAN. An Asian-
India Joint Support Committee has been formed to promote inter-regional trade. As a result, exports in this area have increased by Rs. In 2000-01, Rs. 60, 62, 93, Rs. 75,899.96 crore in 2001-02 During the same period, imports decreased by about 18% in the same period.
The main items of export are gems, jewelers, clothes, instruments, meat products, marine products, medicines, pharmaceuticals, semi-finished iron and steel etc. The import of this field is Arct Technology, Transport Equipment, Wood Products, Wood, Raw Wool, Pulses, Non-Ferrous Metals, Coke and Coal.
West Asia and North Africa
In this region, Saharan Africa and West Asia or Middle East and India have trade agreements with Egypt, Iraq, Iran, Jordan, Kuwait, Libya, Yemen, Israel, Saudi Arabia, Bahrain, Sudan, Morocco, Syria and Tunisia. This area is the world's largest oil producer and export area. India imports huge quantities of crude oil from this region.
This area is also an important source of agricultural and industrial inputs like fertilizers and rock phosphate supplies. During 1999-2000, export of West Asian and North African countries from India to Rs. 21792 crores and import Rs. During the period of 55617.6 million 2000-01, exports in this area from India were 11. 266784 crores from this area and non-oil import Rs. 14683.2 million due to the import of crude oil in large quantities, the balance of trade is not in favor of India.
This area is a potential market for Indian goods, especially processed foods, drugs, pharmaceuticals, gems and jewelers. Pharmaceuticals, Infrastructure Development and Information Technology (IT) are other areas which promise to increase exports in this area. In the new Exim policy, the commissions combined with some of these countries have been proposed to improve the flow of trade and to create methods for diversity.
The United States is India's largest trading partner. During 2000-2001, India's exports to the United States were Rs. 42,403.73 crore while imports from the United States of Rs. 12,812.11 million
Exports grew by 16.72 percent, while imports declined 17.04 percent compared to the previous year. The major exports of US include India of Gems and Jewelry, RMG cotton, accessories, cotton yarn, fabric, made-up, manufacturing of metals, man-made fiber, handicrafts (excluding handmade carpets). America's major imports include electronic goods machinery except electronic, other items and professional equipment.
India has a very small business relationship with Canada. During 2000-2001, India's exports to Canada were Rs 2,974.63 crore and import was about Rs. 1, 764.06 crores Exports registered an increase of 18.74 per cent and imports during the same period last year saw an increase of 6.99 per cent.
Major exports of India include Canada's RMG cotton, including accessories, cotton yarn, clothes, primary and semi-finished iron and steel, medicines, pharmaceuticals and fine chemicals, RMG man-made fibers, gems and jewelers. Major import from Canada includes newsprint, pulp and waste paper, pulses and non-ferrous metals.
Indian business with Mexico has increased over the years. During 2000-2001, India's exports to Mexico were Rs. 1999-2000 saw an increase of 54.72 percent on export of 944.57 crore rupees.
India & # 39; s exports to South America and the Caribbean in 2000-2001 4712.6 million rupees from this region and Rs. An increase of 50.47 percent in 3475.3 million exports has been recorded, while the import of this sector has come down by 22.70 percent. Despite the many obstacles, India's exports to this region have shown a healthy rate of growth in recent years.
This is largely the result of trade and industry, which responds to the special emphasis of government through the enemy-LAC program to reduce tariff and non-tariff barriers in Latin American countries and increase trade with this region. Argentina, Brazil, Chile, Peru, Mexico, Panama, Colombia, Venezuela and Uruguay are the major export markets of India in this area.
Export of this field includes textile and readymade garments, drugs and pharmaceuticals, engineering goods, two-wheelers, automotive components, diesel engines, hand tools, leather and leather color, intermediate etc. Our imports of this area include raw minerals, iron and steel and their products, non-ferrous metals, metal ore, vegetable oil, pulp and paper waste and raw wool. Sub-Saharan Africa
India has business relations with many countries of this region. The main business partners are South Africa, Nigeria, Mauritius, Ivory Coast, Tanzania, Kenya, Benin, Ghana, Ethiopia and Senegal. Since 1996-9 7, exports in this area have increased by 34%, yet they were responsible for a total of 4.08% in 2000-2001. The major export items in this area are cotton yarn, clothes, textiles, medicines, pharmaceuticals. , Chemicals, machinery and equipment, transport equipment, agricultural equipment, tractors, iron and steel, plastic and linoleum products, and agricultural chemicals.
This area has tremendous potential for expansion of business because demand for Indian goods is very high due to competitive prices. In view of this, several initiatives have been taken to promote bilateral trade relations with these countries. In India, there is a trade agreement with Burkina Faso, Ethiopia, Ghana, Angola, Cameroon, Ivory Coast, Kenya, Liberia, Mozambique, Namibia, Nigeria, Rwanda, South Africa, Uganda, Zambia, Zimbabwe, Seychelles, Tanzania, Mauritius and Botswana. During the last two years, India has signed three trade agreements with Mauritius, Tanzania and Botswana.
In recent times, many meetings and discussions have been started for business and cooperation in specific areas. Special provisions have been made in the EXIM policy to promote trade with African countries.