Experts..Pls answer this question....
The nature of India’s foreign trade has changed over the years.. Though there has been an increase in the total volume of import and export, the value of import continued to be higher than that of exports.
Analysis shows that After the first year plan ,there was almost 25.22% rise in total trade in second year plan and a little rise of 4-5% in the third year plan. Overall every plan give some raise in volume of trade.
The table shows that the expansion was very fast after a decline in 6th plan. The pattern of India’s foreign trade was completely change as a result of economic development and industrialisation during the planning period.
The value of India’s imports has increased from 3651 in1951-56 to 13189647 in 2012-17, thus registering an about 3612.61 times increase.
The value of India's exports has increased from 3109 in 1951-56 to 9001485 in 2012-17, thus registering an about 2895.30 times increase.