Foreign Trade of India — Economics STD 12 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsForeign Trade of India4 Marks
Question
India is importing only petroleum from other countries.
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Answer
No, I do not agree with this statement. India is importing many commodities like :
Electronic goods : In the total import of country, share of electronic goods in 10.9% in the year 2016-17.
Pearls and Gems : In the total import, share of peals and gems was 6.2% in the year 2016-17.
Edible oils : India also imports edible oil from Malaysia and Indonesia and its share is 2.8% in the year 2016-17.
Gold : There was growing demand for gold in the Indian market. In the year 2018-19, the value of gold imported was upto $32.8 billion.
Fertilizers : India is importing fertilizers from China, US, Iraq, Russia. In the year 2016-17, the share of fertilizers was 1.3% in the total import of country.
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