Trade between two countries is called International trade. International Trade of a country is an index for its economic prosperity. It is considered as the economic barometer for a country. International trade helps in exchange of surplus goods with those of deficit countries through foreign trade. Features of India’s International Trade:
(i) International trade has helped India in increasing its productivity and improving quality of its products and then exporting the manufactured goods.
(ii) India exports agriculture and allied products, ores and minerals gems and jewellery, chemical and allied products, engineering goods and petroleum products.
(iii) The commodities imported to India include petroleum and petroleum products, pearls and precious stones, inorganic chemicals, coke and briquettes and machinery.
