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 o f both Capitalism and Socialism A s a result the econom y became an inward looking and import substituting economy and failed to take advantage o f 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 fo r econom ic development and g row th ,international trade gained importance day by day .With the form ulation o f WTO and the advent o f globalization ,the whole world became a single market .The global economic outlook is a major determinant o f the export performance of any company.