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India Moving Towards a Better Composition of Trade 2019

International Journal of Applied Marketing and Management

Volume 4 Issue 1

Published: 2019
Author(s) Name: Devesh Gupta, Geetika Shukla, Divya Gupta | Author(s) Affiliation: Assistant Professor, IIMT Group of Colleges, Meerut, Uttar Pradesh, India.
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Abstract

Foreign trade plays a pivotal role in the overall development of the economy. In the modern world of today, none of the nations in the world can survive without the indulgence of international trade. All the nations of the world are interdependent in terms of satisfying their mutual demands. India heralded in the area of international trade with different nations when it gained independence from the shackles of the British rule. When it gained independence, India was not aware of the possibilities that existed in the area of international trade, because for nearly 200 years it was under the trade norms of the British government, which exploited India both in terms of economic resources and labour resources. In the backdrop of the importance of foreign trade, present paper aims to provide a study of the composition of foreign trade of India and changes which has taken place in recent times.

Keywords: Foreign Trade, India, Composition

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