India’s global trade system is one of the oldest trade centers in the world. It has seen prominent changes in past few years. Since the Make In India was launched, it has seen significant growth. According to the ministry of e-commerce and industry. In the period of April 2021 and August 2021 India has seen a global export of estimated US $ 256.17 billion.
India’s Global Trade System
After a new Foreign Trade Policy (FTP) was launched on 1st April 2015. India’s global trade share was 2.1%. Which is US $481.74 billion out of the total of US $23,044 billion for exports. While for Imports it was 2.6% which counted US $600.62 billion of the total of US $23,112 billion.
Make In India Campaign
It Is a program that has been initiated by the govt. of India. That is focusing on the certain aspects like facilitating investment, foster innovation, enhance skill development. In the initial phase the government of India covered 25 sectors to boost the economy.
India A Trade Hub
India has been a center of attraction when it comes to trade. As it has such sea routes that are favorable for the trade through sea. In the ancient times people from west came to India for spices and other items. Now the present India has evolved in such a way. That it has quite a share in the International trade.
India’s Main Exports
The top grossing exports of Indian Sub-continent are Refined Petroleum $39.2 Billion, Diamonds $22.5 Billion, Packaged Medical instruments $15.8 Billion, Jewellery $14.1 Billion, and Cars $7.15 Billion. Exporting mostly to countries like United States Of America, United Arab Emirates, China, Hong Kong, Singapore and many more.
International Trade Index
According to the experts and the International Trade Index India stands at a 63rd position among 190 countries. Make In India campaign is framed in such a way that we increase the export and import. Also make it to the top of International Trade Index.