Updated: June 02, 2023, 12:11 AM IST
team mint
This video is about India’s trade-to-GDP ratio (TG… MoreThis video discusses India’s trade-to-GDP ratio (TGR) and the factors that have contributed to its decline in recent years. One factor is the price of crude oil, which has always been a major part of India’s imports. Another factor is the disappointing global growth in the last decade, which affected India’s exports. However, the recent recovery in India’s exports of goods and services is a potential turning point, indicating that improvements in processes and physical infrastructure are beginning to enhance the competitiveness of India’s merchandise exports. India’s openness to trade is not just limited to exports, as the country continues to follow an open-minded and pragmatic approach to international trade. It also suggests that India’s declining TGR is not a sign of increased isolation or withdrawal from the global trading system, but a reflection of underlying factors, and that India’s policies to support its industries and trade with other countries are well-positioned. working since.