Paper Title
Composition of India’s Foreign Trade
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Registration ID: IJNRD_326087
Published ID: IJNRD2606186
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Abstract
Foreign trade is very relevant in determining economic growth, development of industrialization, and competitiveness of a country. This paper examines the shift in the composition of foreign trade in India between 2000- 2024 and specifically on the top 5 export and top 5 import products of India. It is majorly done through secondary information which will be acquired using international trade databases like UN Comtrade and other available sources of published trade statistics. The data is broken down to HS-2 digit commodity classification and in the US dollar million in order to make comparative analysis. According to the study findings, there has been a major growth in the volume of foreign trade of India over the last 20 years which depicts the increased integration of India in the global economy. The demanded export structure has been slowly transformed to the traditional and primary products to the manufactured and highly valuable products like machinery, electrical equipment and refined petroleum products. Meanwhile, the mineral fuels, electrical machinery, industrial machinery, precious metals and stones, and organic chemicals continue to dominate the import structure. This is indicative of reliance of India in imports of energy and hi-tech products. The paper also examines the relationship between exports and imports on the basis of the regression analysis which indicates that there is a positive statistically significant relationship between exports and imports. Besides, the paper examines how the global economic phenomenon like the 2008 worldwide financial crisis and the COVID-19 pandemic have affected the foreign trade of India. The conclusions indicate that despite India recording a high index of export diversification, the decline of imports in energy and high-technological fields is still a major challenge. This paper highlights the importance of domestic manufacturing or increase, high value export, and energy self-reliance with regard to the Developed India @2047 objective.
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Deshraj Verma & Dr. Nafees Hashim Rizvi (June-2026). Composition of India’s Foreign Trade. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 11(6), b741-b752. https://ijnrd.org/papers/IJNRD2606186.pdf
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Volume 11 Issue 6, June-2026
Pages : b741-b752
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Paper Reg. ID: IJNRD_326087
Published Paper Id: IJNRD2606186
Research Area: Other area not in list
Author Type: Indian Author
Country: Lucknow, Uttar Pradesh, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2606186.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2606186
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