INTERNATIONAL TRADE IN INDIA SCIENCE 1991

Foreign trade plays a vital role in Indian economy. As the country need to import diverse product so the foreign trade is extremely important to a country. India export vast number of product and also import equal amount of other product. Although India has steadily opened up its economy, its tariffs continue to be high when the compared to the other countries and its investment norms are still restrictive. This leads some to see India is a ‘rapid Globalizer’ while others still it is a ‘highly protectionist’ economy. Nonetheless , in recent year Government’s stand on trade and investment policy has displayed a marked shift form protecting ‘producer’ to benefiting ‘consumers’. India is now aggressively pushing for more liberal global trade regime, especially in services. This paper is an attempt to analyses the major change in volume, composition and direction of Indian foreign trade