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    TABLE OF CONTENT

    INTRODUCTION 3

    STUDY AREA:- 3

    OBJECTIVES:- 3

    DATA AND RESEARCH METHODOLOGY:- 3

    SOURCE:- 7

    EXPORTS:- 7

    IMPORTS:- 7

    TRADE BALANCE:- 8

    INTRODUCTION 10

    MEANINGS OF INTERNATIONAL TRADE:- 12

    BENEFITS OF INTERNATIONAL TRADE 14

    TRENDS IN INDIA'S FOREIGN TRADE POLICY 16

    INDIAS TRADE PERFORMANCE 17

    WORLD TRADE SCENARIO 17EXPORTS 18

    IMPORTS 19

    TRADE BALANCE 20

    FOREIGN TRADE POLICY, 2009-14 21

    EXPORTS OF PRINCIPAL COMMODITIES 21PLANTATION CROPS 23

    AGRICULTURE AND ALLIED PRODUCTS 23

    ORES AND MINERALS 23

    LEATHER AND LEATHERMANUFACTURES 23

    GEMS AND JEWELERS 24

    CHEMICALS AND RELATED PRODUCTS 24

    ENGINEERING GOODS 24

    ELECTRONIC GOODS 25

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    TEXTILES 25

    HANDICRAFTS AND CARPETS 25

    PROJECT GOODS 25

    PETROLEUM PRODUCTS 26

    COTTON RAW INCLUDING WASTE 26

    IMPORTS OF PRINCIPAL COMMODITIES 26FERTILIZERS 27

    PETROLEUM CRUDE &PRODUCTS 28

    PEARLS,PRECIOUS AND SEMI-PRECIOUS STONES 28

    CAPITAL GOODS 28

    ORGANIC AND INORGANIC CHEMICALS 28

    COAL,COKE &BRIQUETTES 29

    GOLD &SILVER 29

    DIRECTION OF INDIAS FOREIGN TRADE 29

    FINDINGS & CONCLUSIONS 31

    TRENDS IN EXPORT 37

    TRENDS IN IMPORT 44

    BIBLIOGRAPHY:- 47

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    INTRODUCTION

    Since independence the number of changes has been took place in all most all sectors of the

    Indian economy, As far as foreign trader is concerned India has adopted an inward-oriented

    restrictive trade policy till 1960"s. Since 1960"s, India has adopted the import substitution

    policy, however the liberalisation era was started in 1970"s, but it is a mild in nature, in the late

    1980"s and early 1990"s the drastic changes have been took place under the leadership of our

    late Prime Minister Mr. P.V.NarshimhaRao, and the finance minister Dr. Manmohan Singh.

    Indian economy has shifted towards the globalization and our economy is linked with world

    economy. During 1950-1951 to 2003-2004 the Govt, of India have been implemented number of

    foreign trade policies, these policies have brought a tremendous changes in Indians foreign trade.

    Study area:-

    In the present work an attempt has been made to the study the Trends in Indias foreign trade

    since planning period In order to study the trends in foreign trade the three components of trade

    are considered i.e. Exports, Imports, Trade balance .

    Objectives:-

    To examine the impact of Govt, foreign trade policy on (A) Exports (B) Imports (C) Trade

    balance

    Data and research methodology:-

    The entire data used for the present study have been obtained from the secondary sources; the

    data required for the analysis of different periods are collected from the following sources.

    1. R.B.I. Annual Reports and Monthly Reports various issues

    2. Economic and Political Weekly - Various issues.

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    3. Foreign TradeReview various issues

    4. Internet.etc

    5. Economic surveys- Ministry of finance, Govt of India various issues.

    As far as research methodology is concerned the data has been analyzed by using simple to

    moderate statistical tools like Averages, Percentages, and Graphs are used for analyzing the data.

    International trade or foreign trade implies that the trade between two or more countries. It is one

    of the important macro- fundamental variables of an Economy. The Foreign trade is considered

    as Engine of growth this Engine of growth is depend upon the various factors such as the ratio

    of foreign trade of an economy with world trade, terms of trade, volume of export, volume of

    import and trade balance etc. As far as foreign trade policy is concerned number of changes have

    been took place during the planning period i.e. 1951-1952 onwards

    In the initial period of planning India has adopted restrictive trade and import substitution policy

    till 1970s during this period public sector has assigned a major role to play in economic

    development of the country, on the other hand private sector play its role with regulation

    However, at the end of 1970s and beginning of 1980s India has changed its foreign trade policy

    from restrictive trade to liberal trade policy During 1980s and 1990s the drastic changes have

    been took place in the economies of the world. Economic power centres in the world have

    shifted over the years and the Engine of growth has also altered, the late 1980s and early

    1990s have seen a new wave towards globalisation of finance and greater integration of

    production through trade under different political conditions including trade policies in order to

    share the benefits of globalisation. Since planning period Indias foreign trade has passed

    through the above mentioned foreign trade policies which has impacted on the volume of

    imports, exports, trade balance etc. Impact of foreign trade policy on Indias foreign trade is

    shown in the following table and graphs.

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    YEAR EXPORT IMPORT TRADE BALANCE

    1 2 3 4

    1 9 5 0 - 5 1

    1 9 5 1 - 5 2

    1 9 5 2 - 5 3

    1 9 5 3 - 5 4

    1 9 5 4 - 5 5

    1 9 5 5 - 5 6

    1 9 5 6 - 5 7

    1 9 5 7 - 5 8

    1 9 5 8 - 5 9

    1 9 5 9 - 6 0

    1 9 6 0 - 6 1

    1 9 6 1 - 6 2

    1 9 6 2 - 6 31 9 6 3 - 6 4

    1 9 6 4 - 6 5

    1 9 6 5 - 6 6

    1 9 6 6 - 6 7

    1 9 6 7 - 6 8

    1 9 6 8 - 6 9

    1 9 6 9 - 7 0

    1 9 7 0 - 7 1

    1 9 7 1 - 7 2

    1 9 7 2 - 7 3

    1 9 7 3 - 7 4

    1 9 7 4 - 7 5

    1 9 7 5 - 7 61 9 7 6 - 7 7

    1 9 7 7 - 7 8

    1 9 7 8 - 7 9

    1 9 7 9 - 8 0

    1 9 8 0 - 8 1

    1 9 8 1 - 8 2

    1 9 8 2 - 8 3

    1 9 8 3 - 8 4

    1 9 8 4 - 8 5

    1 9 8 5 - 8 6

    1 9 8 6 - 8 7

    1 9 8 7 - 8 8

    606

    716

    578

    531

    593

    609

    605

    561

    581

    640

    642

    660

    685793

    816

    810

    1157

    1199

    1358

    1413

    1535

    1608

    1971

    2523

    3329

    40365142

    5408

    5726

    6418

    6711

    7806

    8803

    9771

    11744

    10895

    12452

    15674

    608

    890

    702

    610

    700

    774

    841

    1035

    906

    961

    1122

    1090

    11311223

    1349

    1409

    2078

    2008

    1909

    1582

    1634

    1825

    1867

    2955

    4519

    52655074

    6020

    6811

    9143

    12549

    13608

    14293

    15831

    17143

    19658

    20096

    22244

    -2

    -174

    -124

    -79

    -107

    -165

    -236

    -474

    -325

    -321

    -480

    -430

    -446-430

    -533

    -599

    -921

    -809

    -551

    -169

    -99

    -217

    104

    -432

    -1190

    -122968

    -612

    -1025

    -2725

    -5835

    -5802

    -5490

    -6060

    -5399

    -8763

    -7644

    -6570

    Table showing volume of exports, imports, trade balance during pre and post liberalization

    period

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    1 9 8 8 - 8 9 20232 28235 -8003

    1 9 8 9 - 9 0 27658 35328 -7670

    1 9 9 0 - 9 1 32533 43198 -10645

    1 9 9 1 - 9 2 44041 47851 -3810

    1 9 9 2 - 9 3 53688 63375 -96871 9 9 3 - 9 4 69751 73101 -3350

    1 9 9 4 - 9 5 82674 89971 -7298

    1 9 9 5 - 9 6 106465 121647 -15182

    1 9 9 6 - 9 7 118817 138919 -20102

    1 9 9 7 - 9 8 130100 154176 -24067

    1 9 9 8 - 9 9 139753 178332 -38579

    1 9 9 9 - 0 0 159561 215236 -55675

    2 0 0 0 - 0 1 203571 230872 -27301

    2 0 0 1 - 0 2 209018 245199 -36181

    2 0 0 2 - 0 3 255137 291133 -35996

    2 0 0 3 - 0 4 283605 346474 -62869

    Graph showing volume of exports, imports and trade balance since

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    Source:-

    1) Economic survey Govt of India 2002-2003

    Table No.6.3 Page.No.101 2) Annual Report RBI 2003-

    2004. Page No.94. 3) Economic and Political Weekly

    May 15-21. 2003- 2004 Page 1982.

    In the above table and graph the volume of export, imports and trade balance is shown from

    1950-51 to2003-2004. Since planning period there is increase in the volume of all factors either

    positively or negatively.

    Exports:-

    In the year 1950-51 the volume of exports were Rs.606/-crores and it has increased up to

    Rs.1413/- crores in 1969-1970 in the initial years of pre liberalization period the volume of

    exports have been increased gradually, However in the liberalization period volume of exports

    has been increased up to Rs1531/- in 1970-71, in 1989-90 it has increased up to Rs27658/-crores

    in the post liberalization period the volume of exports has increased up to Rs283605/-crores i.e.

    In 2003-2004.

    Imports:-

    In the initial year of planning period the volume of imports were Rs608/-crores i.e. is in 1950-51,

    after two decades it has increased up toRs1582/- crores in 1969-70, during the liberalization

    period the volume of imports has increased from Rs.1634/-crores in1971-

    72 to Rs.35328/- in 1989-90, in post reform period it has increased from RS44041/- crores to

    Rs.346474/- crores in 2003-04.

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    Trade balance:-

    The volume