Question

Briefly analyse the major changes in the direction of India 's foreign trade since independence .

Answer 1

Since Independence, the direction of India's foreign trade has undergone a substantial change. During the colonial period, India's foreign trade was largely restricted to England and other Common wealth countries. However, after Independence, with the initiation of planning, exports of India were widened to other nations as well such as Russia, Japan, USA, etc. Moreover, the imports of India have also spread from just UK and USA to various other nations of the world.