International Trade Data- India with the world
International trade can be defined as the study of trade between different countries
happening between countries. International trade is what defines the trade agreements,
trade conditions and in some cases the price of the goods that the country is exporting
or importing. International Trade Data analysis tells us that India is quickly becoming
a major player on the stage of world trade. Some key areas of international trade where
India plays a major role are:
International Trade Data tells us that India has the monopoly to produce some
types of tea, namely, Darjeeling tea and Assam Tea. This gives India a unique
stand in tea trading. Often this trading happens by the bidding of India where
India can dictate the price and delivery time for the tea on the back of strong
demand from Europe, China & Russia. But in recent times the competition from
other Asian tea is replacing Indian tea from certain taste buds. But the difference
between demand and supply is so large that Indian tea is not only growing but
also commanding a premium.
Pharmaceutical products manufacturing have shifted to India on the back of
cheap labour and the expertise in pharmaceutical products. Some Indian
companies are exporting their drugs to stringent countries like USA where the
drug safety levels are very high. This tells us that the standard of drug making in
India is rising day by day.
International trade data tells us that India has been a traditional exporter of
good quality fabric.