How has foreign trade been integration …

Foreign trade been integrating markets of different countries by the following ways – 

(i) Foreign trade increases competition among companies in terms of quantity, quality and price.

(ii) Foreign trade enables people to sell their produce in international market rather than only in domestic market. For example, Chinese toys in India and Indian readymade garments in other countries have resulted in connecting the markets. 

(iii) Foreign trade transport of one nation’s goods to other country facilitates the exchange of tradition and culture such as garments like saris, kurta, ghaghra, etc., sold by Indian traders and jeans jerseys jackets sold by international traders to India. 

(iv) The Indian producers can sell their produce not only in domestic markets but also compete in markets located in other countries of the world. 

(v) Foreign trade increases the exchange of foreign currency.