foreign trade of India during planning period

Hello,

The volume of India's foreign trade has increased considerably during the planning period. It has increased from Rs. 1250 crores in 1950-51 to Rs. 3169 crores in 1970-71, Rs.Rs. 19260 crores in 1980-81 and Rs. 2286500 crores in 2009-10.

• The expansion was particularly very fast after 1970-71. The pattern of India’s foreign trade was completely change as a result of economic development and industrialisation during the planning period.
• It is no longer confined to a few countries or few commodities. Now India has trade relations with almost all the countries of the world.
• Exports cover over 9300 commodities to about 220 countries. Imports from about 180 countries accounts for over 8200 commodities.
• After independence, India has been constantly experiencing an adverse balance of trade (i.e., the difference between the value of exports and the value of imports) during most part on the planning period.

Indian foreign trade registered a number of structural changes during the planning period. The percentage of non- traditional goods in total export has increased i.e, export of chemical and engineering goods have shown a good rise. Some other items are gems and Jewellery.

Hope this helps!!!