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Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government , trade is administered by the Ministry of Commerce and Industry . [ 1 ] Foreign trade accounted for 48.8% of India's GDP in 2018.
The History of Indian foreign policy refers to the foreign relations of modern India post-independence, that is the Dominion of India (from 1947 to 1950) and the Republic of India (from 1950 onwards).
[371] the current Foreign minister Samuel Santos López visited India in 2008 for the SICA-India Foreign ministers' meeting and in 2013 [372] for high-level talks with the then External Affairs Minister Salman Khurshid which also expanded bilateral trade with the two countries reaching a total of US$60.12 million during 2012–13.
This is a timeline of the history of international trade which chronicles notable events that have affected the trade between various countries.. In the era before the rise of the nation state, the term 'international' trade cannot be literally applied, but simply means trade over long distances; the sort of movement in goods which would represent international trade in the modern world.
Foreign direct investment (FDI) in India has reached 2% of GDP, compared with 0.1% in 1990, and Indian investment in other countries rose sharply in 2006. [18]As the third-largest economy in the world in PPP terms, India is a preferred destination for FDI; [19] India has strengths in information technology and other significant areas such as auto components, chemicals, apparels ...
According to the Ministry of Commerce and Industry, the fifteen largest trading partners of India represent 61.67% of total trade by India in the financial year 2022–23. [1] These figures include trade in goods and commodities, but do not include services or foreign direct investment.
The Indo-Pakistani War of 1965 led the US and other countries friendly towards Pakistan to withdraw foreign aid to India, which necessitated devaluation. India was told it had to liberalise trade before aid would resume. The response was the politically unpopular step of devaluation accompanied by liberalisation.
India, however, continues to have a trade deficit, relying on foreign capital to maintain its balance of payments and as such, makes it vulnerable to external shocks. [ 49 ] Foreign investment in India in form of foreign direct investment , portfolio investment , and investment raised on international capital markets increased significantly ...