25-07-2012, 12:20 PM
COMPOSITION AND DIRECTION OF INDIA'S EXPORT
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Introduction
All countries need goods and services to satisfy wants of their people
No country can produce all the goods and services that it requires.
It has to buy from other countries what it cannot produce or can produce less than its requirements.
Similarly, it sells to other countries the goods which it has in surplus quantities. India too, buys from and sells to other countries various types of goods and services.
Meaning of Foreign Trade
Each country tries to increase the availability of goods and services to its people through purchase from other countries. Buying of goods from other countries is called import .
Each country tries to sell its surplus production to other countries. selling of goods to other countries is called export.
Importance of Exports
Help in growth of the economy
Exports help in increasing production
Exports helps in employment and income generation
Expansion of related industries
Overall increase in demand for other goods
Better utilization of resources
Source of Foreign Exchange
Composition of Exports
Composition of exports means goods that we are selling to other countries.
At time of Independence, our exports consisted mainly of agricultural products like tea, spices, tobacco and other raw materials etc. We were also exporting cotton textiles and jute products in large quantities.
With the industrialization of the economy, compositions of exports have undergone a change.
India Exports: November 2011
Exports during November, 2011 were valued at Rs.113519.82 Crore which was 17.34 per cent higher than the level of Rs. 96742.01 during November, 2010.
Cumulative value of exports for the period April-November 2011-12 was Rs 893094.16 crore as against Rs.661055.88 crore registering a growth of 35.10 per cent in Rupee terms over the same period last year.
Plantation Crops
Export of plantation crops during 2010-11 (April–Sep), increased by 28.1 per cent in US$ terms compared with the corresponding period of the previous year.
Export of Coffee registered a growth of 43.2 per cent, the value increasing from US$ 193.4 million to US$ 277 million.
Export of Tea also increased by 17.0 per cent.
Agriculture and Allied Products
Agriculture and Allied Products as a group include cereals, pulses, tobacco, spices, nuts and seeds, oil meals, castor oil, sugar, processed food, meat & meat products, etc.
During 2010-11 (April–September), exports of commodities under this group registered a growth of 15.6 per cent with the value of exports going up from US$5,846 million in the previous year to US$ 6,756 million during the current year.
Ores and Minerals
Exports of ores and minerals were estimated at US$ 4,410 million during 2010-11 (April-September) registering a growth of 34.5 per cent over the same period of the previous year.
Coal has a negative growth of 43.
of Mica has registered growth of 78 per cent.
Leather and Leather Manufactures
Export of leather and leather manufactures recorded a growth of 14 per cent during 2010-11 (April-September).
The value of exports increased to US$ 1,833.4 million from US$ 1,611.2 million during the same period of the previous year.
Exports of leather and manufactures have registered a growth of 15.6 per cent and Leather Footwear also registered a growth of 11.7 per cent.
Gems and Jewellery
The export of gems and jewellery during 2010-11 (April-September) increased to US$ 15,664 million from US$ 13,757 million during the corresponding period of last year showing a growth of 13.9 per cent.
Direction of Foreign Trade
Direction of Foreign Trade means the countries to which India exports its goods and the countries from which it imports.
direction consists of destination of our exports and sources of our imports.
Prior to our Independence when we were under British rule, much of our trade was done by Britain.
However, after independence, new trade relationships were established
At present India is exporting to 233 countries in the world and Government is making efforts to increase our exports to other countries also.