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Characteristics & performances of exports in India

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  1. Summary
  2. Introduction
  3. Efforts to integrate with the world economies
    1. Export import (EXIM) policy
  4. Export trends in India
    1. Share of china and india in ASEAN's total imports
    2. GDP growth rate of india vs world average
    3. Goods and services traded
    4. Openness of Indian economy: Trade to GDP ratio
    5. Share of commodities in total exports
    6. Share of labor intensive sectors in exports
    7. Share of technology intensive trade in exports
  5. Swot analysis
  6. References

India has registered outstanding growth performances in recent years. Its growth along with that of China has been anticipated to help sustain growth of global economy as economic prospects world over are not bright. Indian economy grew at more than
8% after 2003. India's trade has shown impressive increase at the growth rate of 11% after 1978 which is much above economy's growth rate. Its export share has grown from 0.4% to 1.2%. But still it is a minor in terms of its share. In spite of this, expectations are huge regarding India's growth, as China's expansion may be constrained by its rising cost and comparative disadvantage of geographical dividend with respect to India. India's trade restructuring has not been very intensive. Service trade is very important from India's perspective, as this also forms major chunk of economy. China on the other hand has focused more on manufacturing and hence been able to transform from low technology labor intensive to more technology and capital intensive goods. This difference is mainly because of role of foreign direct investment in China, which in turn was determined by overall business friendliness and openness to world economy. The outlook for trade of Indian economy is not very certain. India's trade has not undergone complete restructuring unlike China. It continues to depend upon exports of low skilled labor intensive goods. Moreover as India still spends huge amount of precious foreign exchange on import of energy needs, it is very risky because of price fluctuations.

[...] Further, huge fiscal deficits and low efficiency in tax collection reduce chances of decrease in tax rates. OPPORTUNITIES Scope of FDI: Patterns over the previous years suggest that owing to future opportunities, FDI has been continuously increasing. This reflects huge gains in terms of excellent managerial practices, transfer of advanced technology and good corporate government practices. Increasing average global incomes: Over the years national incomes of the various economies all over the world have been increasing owing to tremendous GDP growth rates. [...]

[...] SHARE OF CHINA (series1) & INDIA (series in ASEAN's TOTAL IMPORTS Although overall trade of India has increased but it has suffered trade deficit largely. Also share of manufactured goods in total trade has not increased while overall trade has rapidly increased. India's GDP growth has been remarkable after 1992 and it has surpassed global average quite satisfactorily as shown by the figure below where series 1 is India, series 2 is world average. GDP Growth Rate of INDIA(series1) vs WORLD AVERAGE(series2) India's trade performance has been impressive since 1978, after which its average growth rate in exports is huge 11%. [...]

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