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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:

  1. India has developed trade relations with all the major trading blocks and all geographical regions of the world over the last fifteen years.
  2. India's services sector, particularly information technology (IT), software services, and business process outsourcing (BPO), has been a major contributor to its international trade.
  3. India has emerged as a major supplier of generic pharmaceuticals and healthcare services.
  4. 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.
  5. India has increased its agricultural exports, including rice, cereals, spices, and fruits, to various countries.
  6. 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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