Chapter Overview
This chapter focuses on the nature, direction, and composition of India’s international trade. It discusses export and import commodities, major trading partners, recent trade policies, and the role of trade in economic development. It also highlights the challenges faced and initiatives taken to improve trade efficiency and global integration.
Important Keywords
- International Trade: Exchange of goods and services across international borders.
- Export: Selling goods/services to other countries.
- Import: Buying goods/services from other countries.
- Balance of Trade: Difference between export and import values.
- Trade Deficit: When imports exceed exports.
- Free Trade: Unrestricted international exchange of goods and services.
- Major Ports: Gateways for trade like Mumbai, Chennai, Kolkata.
- Special Economic Zones (SEZs): Zones with tax incentives to boost exports.
Detailed Notes
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