Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 10: Foreign Trade of India
Q.4. Answer the following
3. Explain the trend in India's imports.
Trends in Imports:
Petroleum: Petroleum has always remained the most important item of imports in India’s trade in the pre as well as post-reform period. It had a share of 27% of total imports in 1990-92 which currently stands at around 31%.
Gold: After petroleum, the second most imported item is gold. It has been observed that there is a significant drop in gold imports during 2013-14. The gold imports declined from 53.3 billion dollars in 2011-12 to 27.5 billion dollars in 2013-14. This was primarily due to a fall in international gold prices and various policy measures taken by the government to curb gold imports.
Fertilizers: The share of fertilizers in import expenditure declined from 4.1% in 1990-91 to only 1.3% in 2016-17.
Iron and Steel: The share of iron and steel in import expenditure declined from 4.9% to 2.1% in 2016-17.
