Prasann Kumar Das
Dept. of Economics, Kalinga Mahavidyalaya, G.udayagiri, India.
Sipali Pradhan
Dept. of Computer Science, RBVRR Women’s College, Hyderabad, India.
Sujogya Mishra, P. K. Pattnaik
Dept. Of Mathematics, College of Engineering and Technology, Bhubaneswar, Odisha, India.
Value and Trends of India’s Foreign Trade since Liberalisation
Authors
Abstract
The significant reform in economics was primarily done in the year 1991, lay emphasis on external sector. In the year 1991-1992, India followed a policy of trade liberalization wherein the protective tariff rates were slowly reduced in the budgets and subsequently restrictive import licensing regime was relaxed and simplified. The primary thrust was given on the policy to liberalize capital goods imports for industries, to encourage domestic and export orientated growth. India along with several other countries of the world joined WTO on 1st January 1995 in the acceptance of globalization policy by WTO countries by which India’s imports and exports manifolds to a greater extent. The present study deals with the value and trends of India’s foreign trade from 1991 -1992 to 2016-2017.