Indian Investment And Trade : India Essay

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Indian investment and trade
India is the second-most populous country with over 1.2 billion people which located in South Asia. India is the world’s seventh-largest economy based on nominal GDP and is the third-largest purchasing power parity. Following market-based economic reforms in 1991, India became one of the fastest-growing economies country and began to implement export-oriented foreign trade policy. However, before the reform due to the long-time of the implementation of Inward-looking import economic development strategy, the domestic market is highly protected in India which lead to the slow development of India 's import and export trade and stay in the trade deficit situation for a long time. As well as the contribution of foreign trade to GDP is low, ultimately affect the Indian economy development speed. Now, it is one of the most attractive country of the BRIC markets, which also includes Brazil, China and Russia. Sino-India trade relationship began in 1951 and start rapid growth in the 90s, now India has become the biggest trading partner of China in the area of South Asia. In recent years, Indian foreign trade growth is slow which influenced by the factors such as the world economic situation, the depreciation of the rupee. However, due to the import growth rate is higher than the exports has led India’s trade deficit increase. According to the Indian Business Information and Statistics Department of the Ministry of Commerce of India, the trade of goods

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