International Trade and India

Description

International trade has influenced our lives in more ways than we recognize. This short introduction brings an exciting overview to this complex phenomenon from pre-modern to contemporary times.  Beginning with a brief discussion about the theoretical aspects of international trade, the book moves on to explore how its nature has undergone various changes over the years. This study maps India’s engagement with global commerce in the years before and after Independence and analyses how India, once a big trading nation, was transformed into a country which largely exhibited characteristics of a low-income developing country. Tracing the journey from the cautious approach following Independence, to its warming up to globalization since the mid-1980s, and economic liberalization in 1991, this lucid account of India’s relationship with international trade will equally appeal to academics, policymakers, and general readers.