How important is the foreign trade to our country?

Topics to be discussed

-what is foreign trade?

- is it necessary to our country?

-what is the history of the foreign trade?

-which countries are competent to us?

-how it impacts us?

-is foreign trade should be forbidden or encouraged?

Introduction to the topic

Foreign trade means dealing with international countries to import or export the goods in terms like oil, money, and other goods. It plays the vital role in rising the GDP of our country. At present scenario India exports approximately 7,500 commodities to about 190 countries and imports around 6000 commodities from 140 countries all over the world. Kerala, what's the only major outliner state in India because the state GDP per capita was very high compared with other state in India because in Kerala there is is high literacy rate and the state will have more exports than imports.

History of the foreign trade

Initially, in India the first successful voyage to India was Vasco da Gama in 1498 when after selling the cape of good hope arrived in Calicut now present in Kerala upturned permission from saamothiri rajan for trading. That how it taken foreign trade in India.

At present foreign trade

Typically, the strength of the currency of a country is determined by the the exports and imports of that country to the international markets If a country has high exports then imports to two international countries then the the country currency will be stronger in the international market. In this way how the strength of the currency will be e decided.

India's largest trading partners are UAE China , USA ,South Africa and many other which are maintaining very good relations with India.

India's foreign trade policy provides a basic framework of policy and strategy for promoting exports and imports of trade according to the the foreign trade policy 2015-2020 focuses on improving India's market share in international markets.

Problems of the foreign trade

The most common barriers of trade are tariffs and quotas and non tariff barriers. It is a tax on imports which is collected by the government. And many other taxes will be collected by the respective governments on basis of imports and exports to the country.

Prior to 1991 economic liberalisation in India was closed . since the liberation was broken in, India's economy was improved highly due to the increased foreign trade .this how the foreign trade helps the country in shaping it development.

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