India's Foreign Trade V2
| 2012 | | LOYOLA INSTITUTE OF BUSINESS ADMINISTRATION
ECONOMIC ENVIRONMENT OF BUSINESS |
[INDIA’S FOREIGN TRADE] | Submitted by: Angela Raja (F12070), Aditi Vijayakrishnan (F12065), Rini James (F12105) |
Table of Contents History of India’s Foreign Trade 2 Post-Independence Foreign Trade 3 Trends in Indian Trade 5 How is it carried out by India? 7 Trade Performance: 2008-2012 7 India’s Exports & Imports 9 Balance of Payments 15 Foreign Trade Policy, 2009-14 25 Weaknesses & Strengths of India’s Imports and Exports 27 Rise of the Service Sector Exports 27 Impact of FDI on Indian Retail Trade: Good, bad or a mix 28 Conclusion 28 References 28
History of India’s Foreign Trade
India has always been a country with bountiful riches. This has been one of the main factors that first attracted Invaders in the ancient ages. Soon, word spread of the superior quality of our trade, leading to further trade between countries. Documentation exists of products of Indian origin in ancient Rome, Egypt and Persia
100 BC
One of the earliest records is from 100 BC. A document titled “The Peripulus of the Erythraean Sea” from Alexandria contains description about exports of several items among countries. Some of the commodities that India was said to export in then included precious and semi-precious gems such as, diamonds, sapphires, pearls etc. Apart from this, India also traded in silk, cotton, muslin and spices.
In return, India would import wine, coral, topaz, and glass, tin, copper, silver and gold from other countries like Italy, Arabia etc.
1498 AD
The next significant milestone in India’s foreign trade is the entry of the Portuguese. Vasco da Gama landed in Kozhikode in 1498 AD, which was the precursor to tremendous trade between Portugal and India. This is in turn beckoned other European tradesmen to our shores. Calicut and Kochi were the primary trading posts for the Portuguese, set up by Pedro Álvares Cabral in
ECONOMIC ENVIRONMENT OF BUSINESS |
[INDIA’S FOREIGN TRADE] | Submitted by: Angela Raja (F12070), Aditi Vijayakrishnan (F12065), Rini James (F12105) |
Table of Contents History of India’s Foreign Trade 2 Post-Independence Foreign Trade 3 Trends in Indian Trade 5 How is it carried out by India? 7 Trade Performance: 2008-2012 7 India’s Exports & Imports 9 Balance of Payments 15 Foreign Trade Policy, 2009-14 25 Weaknesses & Strengths of India’s Imports and Exports 27 Rise of the Service Sector Exports 27 Impact of FDI on Indian Retail Trade: Good, bad or a mix 28 Conclusion 28 References 28
History of India’s Foreign Trade
India has always been a country with bountiful riches. This has been one of the main factors that first attracted Invaders in the ancient ages. Soon, word spread of the superior quality of our trade, leading to further trade between countries. Documentation exists of products of Indian origin in ancient Rome, Egypt and Persia
100 BC
One of the earliest records is from 100 BC. A document titled “The Peripulus of the Erythraean Sea” from Alexandria contains description about exports of several items among countries. Some of the commodities that India was said to export in then included precious and semi-precious gems such as, diamonds, sapphires, pearls etc. Apart from this, India also traded in silk, cotton, muslin and spices.
In return, India would import wine, coral, topaz, and glass, tin, copper, silver and gold from other countries like Italy, Arabia etc.
1498 AD
The next significant milestone in India’s foreign trade is the entry of the Portuguese. Vasco da Gama landed in Kozhikode in 1498 AD, which was the precursor to tremendous trade between Portugal and India. This is in turn beckoned other European tradesmen to our shores. Calicut and Kochi were the primary trading posts for the Portuguese, set up by Pedro Álvares Cabral in
References: * L. N. Dash (2000). World Bank and economic development of India. APH Publishing. p. 375. , ISBN 81-7648-121-1.