International Trade — Class 12 Geography

International trade is mutually beneficial because no country is self-sufficient, and India's foreign trade has changed greatly in volume, composition and direction, though India contributes only about one per cent of world trade. From Rs 1,214 crore in 1950-51, external trade rose sharply due to growth in manufacturing, liberal government policies and diversification of markets, but the value of imports has continued to exceed exports, giving a persistent trade deficit. In exports, the share of agriculture and allied products and manufactured goods has declined while crude petroleum and other commodities have risen; manufacturing alone accounted for about 67.8 per cent of exports in 2021-22, with engineering goods and gems and jewellery prominent. In imports, foodgrain was the major item in the 1950s and 1960s, but after the Green Revolution it was replaced by petroleum, fertilisers, machinery, edible oil and chemicals, with petroleum products rising sharply. India trades with most countries and major blocs, mostly through sea and air routes. Sea ports are the gateways of international trade; India has 12 major ports and about 200 minor ports, with the west coast having more ports than the east. Major ports include Deendayal (Kandla), Mumbai, Jawaharlal Nehru, Mormugao, New Mangalore, Cochin, Kolkata, Haldia, Paradip, Visakhapatnam, Chennai, Kamarajar (Ennore) and Tuticorin, each serving a hinterland. Airports also handle high-value, perishable goods despite high cost.