Foreign Trade of India
Economics ⇒ Indian Economy
Foreign Trade of India starts at 11 and continues till grade 12.
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Define foreign trade. Explain its importance for the Indian economy.
Describe the composition of India’s imports.
Describe the impact of liberalization on India’s foreign trade.
Explain the concept of ‘terms of trade’.
Explain the difference between balance of trade and balance of payments.
Explain the difference between visible and invisible items in India’s foreign trade.
Explain the impact of trade barriers on India’s foreign trade.
Explain the role of Special Economic Zones (SEZs) in promoting India’s foreign trade.
Which of the following is a major export item of India? (1) Petroleum products (2) Crude oil (3) Gold (4) Natural gas
Which of the following is a major service export of India? (1) Petroleum products (2) Software services (3) Gold (4) Crude oil
Which of the following is a reason for India’s trade deficit? (1) High export of software (2) High import of crude oil (3) Low import of gold (4) High export of textiles
Which of the following is a visible item in India’s foreign trade? (1) Tourism (2) Software services (3) Machinery (4) Banking services
Fill in the blank: The ________ is a document issued by the exporter’s bank guaranteeing payment to the exporter on behalf of the importer.
Fill in the blank: The ________ is the difference between the value of total exports and total imports, including both visible and invisible items.
Fill in the blank: The ________ is the difference between the value of visible exports and visible imports.
Fill in the blank: The ________ is the government agency responsible for formulating and implementing India’s foreign trade policy.
State whether the following statement is true or false: India is a member of the World Trade Organization (WTO).
State whether the following statement is true or false: India’s foreign trade has shifted from primary products to manufactured and service exports over the years.
State whether the following statement is true or false: India’s foreign trade policy encourages both export promotion and import substitution.
State whether the following statement is true or false: India’s major imports include petroleum, gold, and electronic goods.
