International Trade
India's foreign trade and its balance
Calculate trade balance and percentage growth.
No country is self-sufficient: each has things others need. So trade benefits both sides.
India's share of world trade is only about one per cent. But its trade has changed greatly in volume (how much), composition (what is traded) and direction (with whom).
India's total trade rose from ₹1,214 crore in 1950-51 to about ₹77 lakh crore in recent years.
What drove the rise? Growth in manufacturing, more liberal (open) trade policies, and new markets abroad.
But imports have stayed higher than exports: India has a negative balance of trade (a trade deficit). Trade grew, but the gap stayed.
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