India's external trade grew from Rs. 1,214 crore in 1950-51 to Rs. 77,19,796 crore by 2020-21. True or False?

True. This represents significant growth in India's international trade over the decades.

India's trade expansion can be attributed to the acceleration of its ___ sectors, government liberalization policies, and diversification into new markets.

Manufacturing

What were the key drivers of India's international trade growth as outlined in the content?

The key drivers included the acceleration of manufacturing sectors, government liberalization policies, and strategic diversification into new markets and product segments.

Fill in the blank: The historical growth of India's trade illustrates the country's integration into the ___ market.

Global

True or False: The chapter emphasizes that India's trade has become less significant in the context of global economic interdependencies.

False. The chapter highlights India's trade as increasingly significant in global economic interdependencies.

Short Answer: What is the significance of infrastructure development in the context of India's international trade?

Infrastructure development facilitates smoother trade operations, enhances connectivity, and supports the growth of export and import activities.

Fill in the blank: The percentage growth of India's external trade from 1950-51 to 2020-21 can be calculated to understand the extent of its ___ over time.

Expansion

Short Answer: How did liberalization policies impact India's international trade?

Liberalization policies opened up the Indian economy, reduced trade barriers, and encouraged foreign investment, leading to increased trade activities.

The share of agricultural and allied products in India's exports has seen a ___ in recent years.

Decline

True or False: Manufactured goods and petroleum products have decreased in their contribution to India's exports.

False. Manufactured goods and petroleum products have surged in their contribution.

The shift in India's import structure after the 1973 oil crisis focused on the import of ___ and ___ due to increased domestic needs.

Fertilizers and petroleum

What has significantly contributed to the growth of India's engineering goods sector?

Increased domestic production and global demand for engineering goods.

Fill in the blank: India's trade deficits over the years illustrate that imports have generally ___ exports.

Exceeded

True or False: The success of the Green Revolution reduced India's reliance on food grain imports.

True

Identify one factor that has led to a sophisticated import regime in India.

Economic development and the need for high-value capital goods and electronic components.

India's trade partnerships are influenced by changing geopolitical landscapes and policy reforms. True or False?

True. India's trade partnerships reflect an integrated approach to global economics shaped by these factors.

India's significant trade relationships include the United States, the European Union, and ___ regions.

ASEAN and East Asian nations.

What are the main types of commodities traded by India with regions like Europe and North America?

India trades a diverse range of commodities including technology products and consumer goods.

Fill in the blank: India's participation in agreements like SAFTA and the ASEAN Free Trade Area is crucial for understanding trade flows and ___ strategies.

Tariff.

True or False: India aims to enhance its global trade share through policy liberalization and infrastructural upgrades.

True. These are part of India's future strategies for trade enhancement.

What role do trade agreements play in India's economy?

Trade agreements facilitate trade flows, reduce tariffs, and enhance economic cooperation with partner nations.

Fill in the blank: Regional trade dynamics highlight the diversity of traded commodities, ranging from technology products to ___ goods.

Consumer.

India has a total of ___ major ports and around ___ minor or intermediate ports.

12 major ports and around 200 minor or intermediate ports.

True or False: Mumbai Port is the largest port in India and serves as a crucial trade point with the Middle East.

True

Fill in the blank: The partition in 1947 resulted in the loss of key ports like Karachi and Chittagong, leading to the development of ___ and ___ in India.

Kandla and Diamond Harbour