Chapter 10: Foreign Trade of India Q.7. Answer in detail 2. Explain the recent trends in India’s exports.

Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board 

 

Chapter 10: Foreign Trade of India

Q.7. Answer in detail

2. Explain the recent trends in India’s exports.

Following are the recent trends in India’s exports:

Engineering goods: According to the Engineering Goods Export Promotion Council (EGEPC) Report, the share of engineering goods was 25% in India’s total exports in 2017-18. Within this category, some of the prominent exported items are transport equipment including automobiles and auto components, machinery and instruments. During the period 2010-11 to 2014-15, exports of transport equipment have grown from 16 billion dollars to 24.8 billion dollars.

Petroleum products: India’s petroleum capacity increased significantly since 2001-02, due to which India turned as a net exporter of petroleum refinery products. Petroleum products had a share of 4.3% in India’s total exports in 2000-01, which rose steadily to 20.1% in 2013-14.

Chemicals and chemical products: An important export item that has performed reasonably well over the last few years is chemicals and chemical products. The share of this item was 10.4% in 2014-15.

Gems and Jewellery: Gems and jewellery are one of the major contributors to export earnings in India, having a share of 13.3% in India’s merchandise export in 2014-15.

Textiles and readymade garments: Textiles and garment exports together accounted for 11.3% of India’s exports 97in 2014-15. In fact, India is one of the leading exporting countries of textiles and readymade garments in the world.