Indian Economy: Indian economy gets flight from trade with other countries more than China and US.
New Delhi: The Indian economy is growing rapidly. India has trade relations with many countries including China, Europe, US. Talking about the financial year 2022, India’s trade GDP ratio was more than 45 percent. This was higher than both the US and China. In the pre-liberalisation era, India was less integrated with the world economy, which made it less vulnerable to global financial crises. However, this has changed in recent years. The degree of globalization is lower than that of large European economies such as Germany and France. In this, despite being the largest trading partner for most economies, mainly because of the EU’s integrated trade regime, China and we also have huge domestic markets that reduce the risk of global shocks. Indian economy is getting flight only because of trade relations with the countries of the world. The Indian economy has grown rapidly. India’s trade with many countries of the world is continuously increasing. Let us tell you with which countries of the world India has had trade in the past years.
India has trade relations with these countries
India has good trade relations with China and US as well as with countries like South Africa, Brazil, Indonesia, Germany, Canada, France, Australia etc. According to the World Bank report, the GDP trade ratio of the world’s two largest economies, the US and China, has decreased. Talking about China, its GDP trade ratio has come down from 50 percent to 37 percent. On the other hand, if we talk about the US, then its GDP trade ratio has fallen from 30 percent to 25 percent. According to the World Bank report, if we talk about trade as a share of GDP, then in the year 2011, South Africa’s GDP trade ratio was 54.6 percent. Brazil’s was 23.9, Indonesia’s 50.2 and China’s 50.7 percent. On the other hand, talking about the year 2021, South Africa has 56.2 percent, India 45.3 percent, Indonesia 40.4 percent, Brazil 39.2 and China 37.5 percent.
Fast growing Indian economy
Indian economy is growing rapidly. During the Corona period, there was a decline in the economy of all the countries of the world. During this period the Indian economy also declined. However, when the companies reopened after the end of the Corona period, there was an improvement in it. The Indian economy has grown faster than the rest of the world. Many economists of the world have praised the Indian economy. If the Indian economy continues to grow like this, then in the coming years, India’s economy can reach at par with the economy of the top countries of the world.
