Foreign Trade (1947-1990)

Scenario
Restrictive trade practices.

Difficulty in undertaking trading

activities.

Excessive control on foreign exchange

transactions.

Imports always exceeded imports.

Major imports
Crude oil

Capital goods

Defence equipments

Chemicals

Food grains
Major exports

Textiles

Handicrafts

Chemicals

Exports were mostly lagging because

there was rarely any surplus.
 Some trends

Time period GDP Imports Exports

1970-79 79772.7 3769.8 4511.3

1980-89 281689.l2 13174.45 19897.6
The composition of goods and services
changed over time.

With the green revolution food grain

imports were drastically reduced.

Export of services was also a new and

emerging trend at this time.