indian economic development
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INTERNATIONAL INTERNATIONAL TRADETRADE
Sayed Eqbal 120633
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WHAT IS INTERNATIONAL TRADE?WHAT IS INTERNATIONAL TRADE?
THE EXCHANGE OF GOODS & SERVICES BETWEENCOUNTRIES.
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INVOLVES A LOT OF THINGS LIKE:INVOLVES A LOT OF THINGS LIKE:
+ JOBS + CONSUMPTION
+ THE FIGHT AGAINST POVERTY
+ NATURAL RESOURCES
+ FASHION
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EXPORTS – Goods or merchandise that are sold to other countries in order to earn dollars.
IMPORTS – Goods or merchandise bought
from foreign countries.
Some terms……
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TRADE DEFICIT – Occurs when value of a nation’s export is less than the value of its imports.
Exports < Imports
TRADE SURPLUS – occurs when value of nation’s export is greater than the value of its imports.
Exports > Imports
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ImportanceImportance
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1.Political Risk.2.War and Uncontrollable Events.3.Regulatory Risk
Limitations
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International
Trade in INDIA
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1. Backbone of the Indian economy. 2. Textiles and spices were the first products to be
exported by India.3. The Indian trade scenario evolved gradually
after the country’s independence in 1947.
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IMPORTSIndia’s major imports comprise of crude oil machinery, military products, fertilizers, chemicals, antiques and artworks.
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US $ 38242.96 million (Rs.228427.88 crore)
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ExportsExportsEngineering and textile products, precious stones, jewelry, sugar, steel chemicals, zinc and leather products.
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US $ 26479.72 million (Rs.158165.21 crore)
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Thank you