A study on growing Indian Economy in relation to the International Foreign trade

Abstract

India is transforming its economy, there is infrastructure development, introduction of technology into majority of the sector. India is adopting smart technology and smart sustainable living to become self sufficient with the aim to reduce imports and promote exports in foreign trade. The country has allowed 100% FDI in a number of sectors. India is becoming an manufacturing hub with the made in India scheme being implemented in every sector from agricultural to Industrial to Service Sector.Foreign trade promotes diplomatic relation between countries. India is the largest producer of many products in the world, the defence sector has also started their own manufacturing in India, the sector has exported many missile and aircrafts adding to the GDP growth. Made in India scheme has provided employment to the young youth and many other skilled and unskilled people..The 2021 to 2026 foreign trade policy focus on small scale industries -MSME who are contributing 40% to the GDP growth and provided employment to maximum number of people after agricultural sector.