A Study on the Tendencies in the Trade Balance of the Indian Economy

Abstract

India has always been a hopeful trade destination for the rest of the world. Even before the formation of British rule in India, Is known for its exclusive and quality goods. Over time, trade became an essential part of the economy and after the opening up of the Indian economy after the enforcement of the New Economic Policy in 1991; India unlocked the doors to new openings for evolving its trade and for developing as a potential trade destination for the contemporary world. India has been able to attain its goal. Today India positions to be the eighth largest exporter of commercial services in the world by holding 3.7% of the global share. India’s trade has been rising but the issue that India looks at is that the rate of imports has been more than its exports important to an enormous trade deficit in the economy. This paper aims to study the trade and trade in India during the period extending from 1999 to 2019. The study has been conducted to know more about the national and international motives behind the rise and fall of the trade balance that was observed by the Indian economy during the Indian study.