crude oil (34%), electronics and machinery from EU, SaudiArabia and China
what does India export? to who?
jewellery, chemicals, clothing and engineered goods. goes to USA, EU, UAE
how has India changed?
1990s = trade liberalisation, removed the strict importsubstitutionpolicy and reduced tariffs.
GDP growth is 7% a year
2x merchandise and 5x services.
India & the UK
a 70 year long relationship, currently working to make it easier for them to have companies in eachothers countries (will increase jobs, investment and multiplier effect) they collaborate on issues such as finance and climate change, and have closely knit social communities
India & China
there are 100 chinese companies in india, 165 indian companies in china. merchandise exports to china from india are 19 billion, and from china to india they are 48 billion. (increased jobs and living standards) previous conflict was reduced by trade, they now have a cooperation plan for emergency flood management
what are India's government policies
Increased investment in education, increased FDI, trade liberalisation and increased investment in technology, communications and transport
how has India's trade been successful
multiplier effect, HDI increased to 0.586, exports of merchandise have increased to 1.7%, the gini coefficient has fallen from 36.8 to 33.6
