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Synopsis Since early 1990s world economies have witnessed a paradigm shift towards market-oriented economic policies and a careful dismantling of obstacles in international trade. This has helped developing countries like India to gain access to world markets, modern technologies and collaborations. This has also given them a window to the developed world and helped them to understand role of foreign trade as an effective instrument of economic growth and employment generation. Beginning 1991, Government of India has introduced a series of reforms to liberalise and globalize the India economy. Reforms in the external sector have helped to integrate India with the world economy.

In recognition of the growing importance of foreign trade in the Indian economy, this book provides a comprehensive description and analysis of post-Independence development in India's foreign trade and allied sectors with focus on post-1991 period.

The book covers the following specific topics:
•    Changing Pattern of International Trade
•    Pre- and Post-Independence Developments in India's Foreign Trade
•    Compositional and Directional Shifts in Exports from India
•    Compositional and Policy Shifts in Imports into India
•    Foreign trade Policy in Recent Years
•    Rationalistion, Simplification and Moderation of Customs Tariff Regime
•    Current Account Convertibility and Flows
•    Capital Account Convertibility and Flows
•    Exchange Rate Determination and Management
•    Foreign Exchange Reserves
•    External Debt and Aid
•    Foreign Direct Investment (FDI)
•    Foreign Portfolio Investment

The book provides special coverage to the following topics:
•    Globalisation and International Trade
•    Global Economic Crisis and International Trade
•    India's Regional Trade Agreements (RTAS)
•    World Trade Organisation (WTO) and India’s Foreign Trade
•    Global Economic Crisis and the Indian Economy

Besides, it contains annual review of developments in India's foreign trade from 1947-48 to 2008-09; 7 appendices containing relevant information on India's foreign trade; glossary of trade-related terms and time-series statistics of India's foreign trade.