Describe the recent changes in the …

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Meghna Thapar 4 years, 10 months ago
Analysis of direction of trade reflects on regional direction of country’s foreign trade from where trade is originated. It would be quite important to analyse the direction of India’s foreign trade and the transformation that has taken place in details. In the pre-independence period, the direction of India’s foreign trade was determined by the colonial spirit prevailing between India and Britain.
Accordingly, India’s trade was mostly connected with Britain or its colonies or allies. After independence, this trend was continued for some years. As in 1950-51, U.K. and U.S.A. contributed about 42 per cent of India’s total export earning and about 39 per cent of India’s import requirement was met by these two countries.
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