GROWTH , COMPOSITION,DIRECTION AND BALANCE OF TRADE(BOT) POSITION OF FOREIGN TRADE OF INDIA DURING LAST FIVE YEARS

Abstract

Trade is crucial for the growth and development of a country.Trade can be domestic and International trade. When goods are brought  and sold within the territory of a country, it’s known as “Domestic trade”.On the other hand ,International trade or foreign trade means exchange of goods and services from one country to another country.Foreign trade is an important element of world economy.The specific objective of the research is to evaluate theGrowth,composition ,  Direction& Balance  of trade position  of   foreign trade of India during the study term(2013-14 to 2017-18). The collected data has been analysed with the assistance of varied statistical techniques like average,  percentage, annually rate of growth ,compound annual rate of growth, tabular and graphs. The finding of the paper isthat compounded  Annual rate of growth(CAGR) of export were 0.66 % whereas percentage of Imports were 2.53. It can be conclude that   Balance of trade  position of India’s were always negative during the study period, due to excessive imports on exports. Composition of Major Exports were included:  Tea & coffee Ores and Minerals, Leather & leather product,Ceramic Products & Glassware, Gems &Jewellery,Chemicals & Related Products, Engineering and Electronic Goods,Textiles & Textile Products, Petroleum Products. During the year 2017-18 maximum exports were  Rs.133732 crore to  developing countries whereas minimum exports were Rs.229 crore to other countries.Further, It can be conclude that developing countries and OECD Countries  were the main markets for exports from India.India should think about to increase of exports and restriction on Imports which would help in improve the balance of trade position  of the country .