21-12-2014, 08:18 PM
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recent trends in foreign trade of india ppt
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16-03-2017, 04:11 PM
The main current trends in foreign trade are as follows:
Current trends are towards increased foreign trade and the interdependence of firms, markets and countries.
The intense competition between countries, industries and companies worldwide is a recent event due to the confluence of several important trends. Among these trends are:
1) Forced Dynamism
2) Cooperation between countries
3) Liberalization of transboundary movements
4) Technology Transfer
5) Growth in Emerging Markets
Trends in India's Foreign Trade
Trade Performance of India
India's merchandise exports reached a level of US $ 251.14 billion during 2010-11, registering growth of 40.49 percent compared with a negative growth of 3.53 percent during the previous year. The export sector in India has shown remarkable resilience and dynamism in recent years. Despite the recent setback in India's export sector due to the global slowdown, merchandise exports recorded a Composite Annual Growth Rate (CAGR) of 20.0 percent between 2004-05 and 2010-11.
World Trade Scenario
According to the IMF's World Economic Outlook October 2011, world trade recorded its largest annual increase in 2010, as merchandise exports rose 14.4 percent. The volume of world trade (goods and services) is projected to decline by 7.5 per cent compared with 12.8 per cent in 2010. World trade growth is projected to decline in 2012 to 5, 8% IMF projections.
The IMF has moderated its projections for world output growth to 4 percent in 2012. Advanced economies are expected to grow to 1.9 percent in 2012, while emerging and developing economies will grow to 6.1 percent hundred. The projected growth rates in different countries are expected to determine markets for our exports.
According to the 2010 WTO international trade statistics, in merchandise trade, India is the twenty-largest exporter in the world with a share of 1.4 percent and 13 percent with a share of 2.1 Percent in 2010.
The year 2011 has been a difficult year with Japan facing an earthquake and a tsunami, swelling instability in Middle East oil-producing countries, slowing US economy and euro zone facing major financial turmoil. The current global economic slowdown has its epicenter in the euro region, but contagion is being observed in all the major economies of the world. As a result, India's short-term growth prospects have also been affected.
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