Advancement of international trade of a country is an index of it's economic prosperity. This statement is justified by these five arguments given below: -

(i) as the resources are limited no country can survive without International trade.

(ii) goods or resources possessed by one country are required by other and vice-versa. These differences create conditions for international trade.

(iii) foreign trade has helped India to improve its productivity of manufactured goods. International trade contributes to India’s economic growth, raising income level of people.

(iv) in the recent years, exchange of commodities and goods have been superseded by the exchange of information and knowledge.

(v) India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
Thus, it can be concluded that advancement of international trade of a country is an index of its economic property.

That's all🙂

There is no doubt that international trade plays a crucial role in the economic development of any country. International trade is the exchange of goods and services between countries. The more a country engages in international trade, the more it is likely to benefit from it. The statement "Advancement of international trade of a country is an index of its economic prosperity" is justified with the following arguments:



International trade promotes economic growth by increasing a country's Gross Domestic Product (GDP). When a country engages in international trade, it can access a larger market and sell its goods and services to a larger audience. This leads to an increase in demand for the country's products, which in turn increases production and ultimately leads to an increase in GDP.



International trade creates job opportunities for people in the country. When a country exports goods and services, it creates job opportunities for people who work in the manufacturing and service industries. Similarly, when a country imports goods and services, it creates job opportunities for people who work in the distribution and retail industries.



International trade allows a country to access new markets. When a country exports its goods and services, it can reach new customers and expand its market. Similarly, when a country imports goods and services, it can access new products and services that were not available in the domestic market.



International trade attracts foreign investment. When a country engages in international trade, it becomes an attractive destination for foreign investors who are looking to invest in the country's economy. This leads to an increase in foreign investment, which in turn leads to an increase in economic growth.



International trade leads to an improved standard of living for people in the country. When a country engages in international trade, it can access a wider range of products and services at a lower cost. This leads to a higher standard of living for people in the country.

In conclusion, the advancement of international trade of a country is an index of its economic prosperity. International trade promotes economic growth, creates job opportunities, provides access to new markets, attracts foreign investment, and leads to an improved standard of living for people in the country.