Question

The total value of India's international trade in 1995-96 was _________.

• A. Rs. 2,29,031 crores
• B. Rs. 28,110 crores
• C. Rs. 110 crores
• D. Rs. 1,18,110 crores

Answer 1

The correct option is A Rs. 2,29,031 crores

The indian international trade consisited of exports of 1,06,353 crore and imports of 1,22,678 crore which sums up to 2,29,031 crores.

The figures of imports and exports went up due to the following :

1. Liberalization : The act of liberaization gave the businessman to export goods and services and import new technologies which were diffcult to gain earlier.
2. Privatization : The privatization played a very important role in increasing these figures of import and export . privatization increased the efficiency of the companies and made ease in the business licensing process which lead to imports and exports on higher pace.
3. Globalization : The act of globalization had a huge contribution in imports and exports . The indian economy got connected to world economy,which helped to reach at level where the imports and exports are today.