History of Indian Trade
India, as a country with immense resources available through it’s length and breadth, has enabled it to gain a foothold in the major and the not so major economies of the world.
The objective of this brief paper is to highlight the immense and diverse sources of Indian trade with all the major regions and countries of the globe spanning right from the Americas, the UK and other European Union countries to the Middle Eastern nations to China as well as to the South East Asian tiger economies .
During the time India gained Independence from the Britishers in 1947, the economy was entirely geared to only trade and there was hardly any manufacturing facilities at all to provide for the colossal Indian population. Hence, it has now taken all of the 60 years of toil and industry to create manufacturing capacities across the board to manufacture everything from satellites to hairpins. Needless to say, even the infrastructure has had to be created though a lot yet needs to be done in terms of airports, shipping ports, roads, etc.. The government has now rightly been focusing on the same to enable broadbasing the development to move the economy from an underdeveloped status to being a developed nation. India is now already a $1 trillion economy.
India has given to the world Darjeeling tea, Indian khadi cotton, Bombay Duck, Kashmiri carpets, Indian spices and dry fruit and the varied cuisines right from the mountains of Kashmir in the north to God’s own country of Kerala in the south of India. London itself has approx. 7000 restaurants serving the various Indian exotic cuisines. Chicken curry is now almost considered a part of British cuisine. Any major financial or tourist destination across the globe has to, perforce, have some Indian cuisine available.
Also, as economic levels have improved in the urban and semi-urban areas, there has also been increased penetration of literacy leading to higher consumption patterns for all kinds of goods across all sections of the society. This has led to more awareness of the availability of goods from all parts of the world and this has resulted in more trade with other countries.
This has resulted in surpluses being generated in some goods whereas other goods are being imported to satisfy the needs of the population. Overall Indian trade has benefited and so has the world. At the end of the day, it is all about maximizing use of one’s resources.
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