Geography
Write a note on the changing nature of the international trade in the last fifteen years.
Transport
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Answer
The changing nature of the international trade for India, in the last fifteen years has been marked by several key trends such as:
- India has developed trade relations with all the major trading blocks and all geographical regions of the world over the last fifteen years.
- India's services sector, particularly information technology (IT), software services, and business process outsourcing (BPO), has been a major contributor to its international trade.
- India has emerged as a major supplier of generic pharmaceuticals and healthcare services.
- The e-commerce boom has expanded global digital trade, with Indian companies and platforms taking advantage of this trend to sell products and services globally.
- India has increased its agricultural exports, including rice, cereals, spices, and fruits, to various countries.
- Tourism in India has seen substantial growth and helped in international trade. India is one of the top destinations for medical tourism, educational tourism, holidays and business tourism.
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