India has been a major producer of cotton and its fabric. India exports cotton fabrics and items to many other countries. find out ,how it helps us?
India has been a major producer of cotton and its fabric. India exports cotton fabrics and items to many other countries. find out ,how it helps us?
It helps us in various ways they are;
1) We export and import cotton so that we may make money.
2) The money is used for the development of the country and also used as income of a family.
3) The money keeps circulating and it becomes the main cause for the upliftment for the country.
4) The currency of export helps in increasing the forex reserves and thereby leads to reduction in the Balance of payments.
Hence, it stimulates foreign commerce, raises the foreign exchange, and attempts to balance the money that leaves the economy due to imports by bringing money into the nation. It boosts the nation's gross domestic product (GDP) and aids in opening up a foreign market for it.
It helps us in various ways they are;
1) We export and import cotton so that we may make money.
2) The money is used for the development of the country and also used as income of a family.
3) The money keeps circulating and it becomes the main cause for the upliftment for the country.
4) The currency of export helps in increasing the forex reserves and thereby leads to reduction in the Balance of payments.
Hence, it stimulates foreign commerce, raises the foreign exchange, and attempts to balance the money that leaves the economy due to imports by bringing money into the nation. It boosts the nation's gross domestic product (GDP) and aids in opening up a foreign market for it.
