An Analysis of India'S Foreisn Trade

Abstract

During the period from 1947 to 1991,the Indian Economy was a mixed economy combining the features of both Capitalism and Socialism As a result the econom became an inward looking and import substituting economy and failed to take advantage of the post war expansion of trade.Later in 1991,India adopted liberal and free market principles and liberalized its economy to international trade.Being a vehicle for economic development and growth international trade gained importance day by day.With the form ulation of WTO and the advent of globalization the whole world became a single market.