Some of the changes in the international trade in the last fifteen years are as follows:
a). Bulk imports as a group registered a growth accounting for 39.09 per cent of total imports. This group includes fertilizers (67.01 per cent), cereals (25.23 per cent), edible oils (7.94 per cent) and newsprint (5.51 per cent).
b). International trade has under gone a sea change in the last fifteen years. Exchange of commodities and goods have been superseded by the exchange of information and knowledge.
c). India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
