Growth and structure of India’s foreign trade since the post reform period

Abstract

In 1991, the Gulf War led India to a recession in the balance of payments. The people started to lose confidence in current policy. Together these trends undermined investor confidence in the Indian economy, which culminated in a fall in the country's credit ranking on the international capital market. Trade reforms, which are an integral part of the broader structural reform process, were essential at the moment. In an attempt to improve the efficiency and competitiveness of Indian industries 'New Economic Policy' was introduced to open the economy for rest of the world. The present paper has been compiled with a view to analyze the change and progress in exports and imports in post economic reform period from 1990-91 to 1917-18.