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Larger share in the international market makes a country more powerful in getting its needs met by others and also provides leverage in international discussions. Therefore, international trade is considered an economic barometer for the country.
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Agriculture is the mainstay of the Indian economy because:
- Two-thirds of the population is dependent on agriculture. It generates large scale employment.
- It provides food for teeming millions.
- It provides raw materials to many agro-based industries like cotton, rubber, sugar.
- Export of agricultural products like tea and spices earns valuable foreign exchange.
- It contributes 26% of gross domestic product (GDP).
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Subhi Gupta 3 years, 3 months ago
1Thank You