Fluctuations in India’s Export during last 15 years (1997-98 to 2011-2012)

Abstract

One aspect of liberalization of the Indian economy has been an increasing openness and the result has been a significant increase in both exports and imports. The policy of export promotion is considered important for economic development. With 1.2 billion people and the world’s fourth-largest economy, India’s recent growth and development has been one of the most significant achievements of our times. Over the six and half decades since independence, the country has brought about a landmark agricultural revolution that has transformed the nation from chronic dependence on grain imports into a glo This paper analyzes the importance of trade as a contributing factor to economic growth in India. The present study entitled “The fluctuations in India’s Export during last 15 years (1997-98 to 2011-2012) tries to examine the variability in the exports of agriculture and allied products, ores and minerals, manufactured goods. Since liberalisation, the value of India's international trade has increased sharply,^[201] with the contribution of total trade in goods and services to the GDP rising from 16% in 1990–91 to 47% in 2008–10. India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade worldwide. In 2006–07, major export commodities included engineering goods, petroleum products, chemicals and pharmaceuticals, gems and jewellery, textiles and garments, agricultural products, iron ore and other minerals. Major import commodities included crude oil and related products, machinery, electronic goods, gold and silver.