1Management Studies, Pondicherry University P G Centre Karaikal, Pondicherry-609605.
2Commerce & Management University PG College, Kakatiya University Khammam, Andhra Pradesh-507002.
The Indian economy was very poor before the Liberalization compared with the other developed countries. In the recent past there are drastic changes in the Indian economy producing the Agricultural products and Industrial products and bi-products and became selfsufficient and competing with the developed and developing countries in the world like Agriculture green revolution, white revolution. Many of the foreign countries which are members of the trading blocs like SAARC, WTO entered into India to do export and imports ‘business trade with India, trade agreements with its neighbors and is seeking new ones with the East Asian countries and the United States, Preferential Trade Agreements with Afghanistan, Chile, and Mercosur. Exports in, 2008 are valued at Rs 839977.94 crores. Imports in, are valued at Rs 1340587.75 crores. The trade deficit in 2008 is estimated at Rs 500609.81 crores. The total imports are Rs 1,340,587.75 crores in the year 2008–09 and the exports are Rs 839,977.94 crores for the same period. It can be envisaged that India would do the better in the international trade business with their neighboring countries in future and develop the Indian economy.
