why exports are cruical for india's economic future?

Introduction

Export means the transferring of any good from one country to another country in a legal way for the purpose of trade. Export goods are provided to the foreign consumers by the domestic producers.

Discussion:

There are few problems which need to be solved before India makes a mark for itself in the export sector. The Indian goods have to be of superior quality. The packaging and branding should be such that countries are interested to export from India. At the same time India must look for potential market to sell their goods.

Indian Exports: A History
The history of Indian exports is very old. During ancient times India exported spices to the other parts of the world. India was also famous for its textiles which were a chief item for export in the 16th century. Textiles and cotton were exported to the Arab countries from Gujarat. During the Mughal era India exported various precious stones such as ivory, pearls, tortoise stones etc. But during the British era, Indian exports declined as the East India Company took control of foreign trade.

Export Trends
If the Indian economy grows at the same pace, India would most definitely export goods worth US $500 billion by 2013 and may supersede the exports of other large developing countries like Brazil.
The growth of various sectors
The share of the service industry accounts to around 54% of the annual Gross Domestic Product (GDP) of the country. Next are the industrial and agricultural sectors which contribute around 29% and 17% respectively. Some of the major agricultural export items consist of wheat, rice, tea, cotton, jute, sugarcane and so on. Some of the other allied exports consist of steel, chemical, textiles, cement, machinery, IT services and so on. Due to the development of science and technology, the number and quality of exports have also grown to a great extent which has led to favorable Indian economic growth.

Conclusion:

Export and imports are very important for a country. Imports and exports of goods creat good relation between both country who deal with us . In exports we collect the money of other country. Our market goes on top of the country.so I thing exports are crucial for the india economic future.

Submitted by: Suman kumari

Submitted to: prof. gurdeepak singh