International Trade
Q) What is the percentage growth in India's international trade in 2016-17 over 1950-51?
Answer: 36000%
Q) What are the reasons for the sharp rise in India's overseas trade?
Answer: The momentum picked up by the manufacturing sectors, the liberal policies of the government and the diversification of markets.
Q) How has the nature of India's foreign trade changed over the years?
Answer: The value of imports continuing to be higher than that of exports. The share of agriculture and allied products has declined, whereas, shares of petroleum and crude products and other commodities have increased.
Q) What are the main reasons for the decline in traditional exports?
Answer: The tough international competition. What is the share of the manufacturing sector in India's total exports? 73.6% of India's total value of export in 2016-17.
Q) What were the major items of India's import in the 1950s and 1960s?
Answer: Foodgrain, capital goods, machinery and equipment.
Q) What changes have taken place in the composition of India's imports?
Answer: A steep rise in the import of petroleum products, a steady increase in the import of capital goods, and a decline in the import of food and allied products.
Q) What are the reasons for the steep rise in the import of petroleum products?
Answer: Its use as a fuel and industrial raw material, and the rising international price.
Q) What are the main items of India's import basket?
Answer: Petroleum products, capital goods, machinery and equipment, food and allied products, pearls and semi-precious stones, gold and silver, metalliferrous ores and metal scrap, non-ferrous metals, and electronic goods.
Q) With which countries and trading blocks does India have trade relations?
Answer: Most of the countries and major trading blocks of the world.
Q) What are the measures taken by India to double its share in the international trade?
Answer: Import liberalisation, reduction in import duties, delicensing and change from process to product patents.
Q) How is most of India's foreign trade carried out?
Answer: Sea and air routes.
Q) What is the role of ports in India's international trade?
Answer: Provide gateways for the movement of goods.
Q) What are the major ports in India and their hinterlands?
Answer: Kandla, Mumbai, Jawaharlal Nehru Port, Marmagao, New Mangalore, Kochchi, Kolkata, Haldia, Paradwip, Visakhapatnam, Chennai, and Ennore. Their hinterlands vary depending on the location and type of cargo.
Q) What is the role of air transport in India's international trade?
Answer: Plays a crucial role in the international trade of high value or perishable goods over long distances.
