After independence India’s trade:
England: 1960-61: 19% imports of total imports
- After 2007: Fell to less than 2 % 1960-61:26.8% exports of total exports
- After 2007: Reduced to 4 %
USA: 1960 -61:29% imports of total imports
- After 2007: Fell to less than 8 % 1960-61: 16% of total exports
- After 2007: Fell to 12.7%
OPEC: Due to industrialization and development imports of petroleum increased.
- 1960-61: Merchandise export was 4.1%
- After 2007: Increased to over 16 %
Russia:
- Our imports from Russia were high. Which declined since 1980 after the economic crisis in Russia.
- Total merchandised exports declined from 4.5 % to 0.6 % after 2007.
Trade with traditional partners (England, USA, OPEC, Russia, declined gradually and trade with developing countries (East Asia, Central Asia, Africa) started increasing.
Developing countries: 1960 – 61: Imports were 11.8%,
- After 2007: Increased to 32 %
- 2014 – 15: Increased to 59 %
- 1960-61: Exports were 14.8%
- After 2007: Increased to 42.6 %
Thus, India has made successful attempts to its trade with different countries and in different directions.
