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Impact of Economic Tsunami of International Trade on Emerging Business Opportunity in India

Journal: International Journal of Science and Research (IJSR) (Vol.9, No. 8)

Publication Date:

Authors : ; ;

Page : 1539-1543

Keywords : Active Pharmaceutical Ingredients; Business opportunity; Cost-push inflation; Demand-pull inflation; Economic tsunami; Foreign trade;

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India is focusing on growth and development in International trading to increase GDP for sustainable growth. Success stories of Indian economy proved by the improvement in trade in recent years. India is in 13th rank in global trade export. The overall trade export of India has been increased from 1.58% to 1.71% from 2017 to 2019. Indian Foreign trade accelerated over the former porcelain as GDP reached Rs.190.10 trillion in 2018. This contributes sustainable growth and development created employment opportunities. The actual issue of the Indian economy is inflation& its control. The National Statistics report forecasted India's GDP to glide to an 11-year short of 5% in 2020. Manufacturing growth rate is discerned at 2% yearly, which is a 15-year short, as against 6.9% growth in 2019. India incurs a trade deficit over a decade due to the Demand-pull inflation and Cost-push inflation. Based on this, we analyzed the growth of Indian foreign trade across a decade and the measures taken by the Government of India to overcome this economic tsunami for the country's sustainable growth& development. When compared to India's merchandise trade for the past 10 years, the performance of India is good but the trade balance is not achievable. To reduce inflation, the Government encourages more number of entrepreneurs in various sectors. As per 'Make in India' campaign, 2014 paved the way for entrepreneurs to create job opportunities. We recommend the blooming business opportunity for API manufacturing industries in this pandemic period in Global trade.

Last modified: 2021-06-28 17:10:27