“The advancement of international trade of a country is an index of its economic development”. Justify the statement.
Advancement of international trade of a country is an index to its economic prosperity.
- As the resources are space bound, no country can survive without international trade.
- India has trade relations with all the major trading blocks and all geographical regions of the world.
- Exchange of commodities and goods have been superseded by the exchange of information and knowledge.
- India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
- In this way, International trade has underOgone a sea change.