What are the three features of Indian foreign trade?

What are main features of foreign trade?

Features of Foreign Trade

  • Negative Trade.
  • Changing Imports.
  • Diversity in Exports.
  • Trading through Selected Ports.
  • Trade during Maritime.
  • Worldwide Trade.
  • Place of India in Overseas Trade.

What are the 3 types of foreign trade?

There are three types of international trade: Export Trade, Import Trade and Entrepot Trade.

What was the most important characteristics of India’s foreign trade?

A major trade characteristic of trade in the colonial period of India was its export surplus. An export surplus is when a country exports more products than it imports from other countries.

What were the main features of Indian foreign trade during the British period?

Under the British rule, India became an exporter of raw materials and an importer of finished goods. There was a huge export surplus due to excess exports. However, the export surplus was used for: i. To make payments for administrative expenses incurred by the British government in Britain, ii.

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What are the features of Foreign Trade Policy 2015 20?

FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.

What are the 3 items considered in the exchange between and among countries?

international trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food.

What are the three benefits of trade?

These benefits increase as overall trade—exports and imports—increases.

  • Free trade increases access to higher-quality, lower-priced goods. …
  • Free trade means more growth. …
  • Free trade improves efficiency and innovation. …
  • Free trade drives competitiveness. …
  • Free trade promotes fairness.

What are the types of foreign trade?

Foreign trade is of three types. Import Trade: When the goods or services are purchased from other countries it is called import trade. Export trade: When the goods are sold to other countries, it is called export trade. Entrepot trade: It is also called re-exporting.

What are the features of Indian trade?

Foreign Trade: 8 Salient Features of Foreign Trade of India – Explained!

  • Negative or Unfavourable Trade: …
  • Diversity in Exports: …
  • Worldwide Trade: …
  • Change in Imports: …
  • Maritime Trade: …
  • Trade through a few Selected Ports Only: …
  • Insignificant Place of India in the World Overseas Trade: …
  • State Trading:

What is meant by international trade state any one feature of India’s international trade?

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.

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What was the condition of foreign trade in India on the eve of Independence?

The state of India’s foreign trade on the eve of independence was as follows: Net Exporter of Raw Material and Importer of Finished Goods. India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute, etc.

What were the main items of trade in British India?

From the time of Independence India has been one of the important trading countries, exporting primary items like cotton, raw silk, sugar, wool, jute, and indigo, etc. And importer of finished consumer goods like woolen clothes, cotton, silk, and capital goods like light machinery manufactured in Britain.

What is Indian foreign trade policy?

India’s Foreign Trade Policy (FTP) provides the basic framework of policy and strategy for promoting exports and trade. It is periodically reviewed to adapt to the changing domestic and international scenario.