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Chapter Analysis
Advanced9 pages • EnglishQuick Summary
This chapter explores the concept of international trade and its importance for India, highlighting the changes in volume, composition, and direction over the years. It discusses the significance of manufacturing growth, governmental policies, and market diversification in transforming India's trade. The chapter also examines the changing patterns in imports and exports, the impact of globalization, and the role of transportation including ports and airports in trade facilitation.
Key Topics
- •Importance of International Trade
- •Changes in Export and Import Patterns
- •Role of Government Policies in Trade
- •Impact of Globalization
- •Transportation and Trade Infrastructure
- •Trade Balance and Economic Indicators
- •Direction and Composition of Trade
Learning Objectives
- ✓Understand the significance of international trade for India.
- ✓Analyze the changing patterns in India's imports and exports.
- ✓Identify the role of transportation in facilitating trade.
- ✓Discuss the impact of trade policies on economic growth.
- ✓Evaluate the effects of globalization on India's trading practices.
- ✓Examine India's trade relations with major global partners.
Questions in Chapter
Choose the right answers of the following from the given options: Trade between two countries is termed as
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Which one of the following is a land locked harbour?
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Most of India’s foreign trade is carried through
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Mention the characteristics of India’s foreign trade.
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Distinguish between port and harbour.
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Explain the meaning of hinterland.
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Name important items which India imports from different countries.
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Name the ports of India located on the east coast.
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Describe the composition of export and import trade of India.
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Write a note on the changing nature of the international trade of India.
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Additional Practice Questions
Explain the importance of international trade in modern economies.
mediumAnswer: International trade allows countries to obtain goods and services they cannot produce efficiently themselves, increases market size, encourages innovation, and leads to better standards of living.
What are the major factors affecting India’s international trade?
hardAnswer: The major factors include governmental trade policies, global market trends, international competition, exchange rates, and domestic resource availability.
Why is the balance of trade a crucial indicator for economic health?
mediumAnswer: The balance of trade, as the difference between exports and imports, reflects a country's economic position in international markets which impacts currency value, employment, and overall economic strength.
Discuss the role of ports in India's international trade.
easyAnswer: Ports are crucial as they serve as the primary hubs for goods entering and leaving the country, facilitating trade efficiency and impacting regional development and economic growth.
Analyze the impact of globalization on Indian exports.
hardAnswer: Globalization has increased competition and market access for Indian products, leading to a shift in the types of goods exported and necessitating improvements in quality and efficiency.