1Department of Master of Business Administration, CMR College of Engineering and Technology Hyderabad, Andhra Pradesh
2ING Vysya Bank, Karimnagar, A.P.
India has adopted globalization policy since 1991. In this paper an attempt is made to examine the exports and imports behavior during pre and post reform period. Exports and Imports are two sides of the same coin, and it is necessary to maintain a balance between the two for a sustainable economic development. In the face of global slowdown and financial crisis, Indian exports have shown a good measure of resilience during 2008. In fact, India recorded a marginally higher growth rate of 21.8 percent during 2008 as compared to 21.5 percent during 2007. Trade driven globalization is also manifested in the changing geography of the world economy today. Its key features include the emergence of a dynamic South as an additional (to the North) motor for world trade and investment, and an expansion in South-South trade in goods, services and commodities.
This paper aims to study Trends of World Trade Performance and India's share in International Trade and to examine the Merchandise Trade Performance and Service Trade Performance in the Second Phase of Post Economic Reforms. The findings of study revealed that during 1980–2007 World Trade Exports Performance share of India has increased from 0.42 percent to 1.05 percent. During 1980–2007 World Trade Imports Performance India's share in world imports has increased 0.72 percent to 1.53. India's Merchandise exports Trade in 2008–09 reached to US$ 168.7billion with a growth of 3.6 percent despite global recession, thus achieving 96.4 per cent of the revised export target Merchandise imports grew by 35.4 percent. Sen/ices Exports have not been as affected as exports of merchandise. The study revealed that India has been deemed as a major exporter of services in the world with a market share of 2.72% in 2008 as against 0.6% in 1995. India's services sector has matured considerably during the last few years and has been globally recognized for its high growth and development. The study also revealed that Imports of commercial sen/ices have become important in recent years reaching US$ 52.5 billion in 2007–08 though its growth moderated to 18.5 per cent in 2007–08. The efforts are needed to balance the trade and consider expansion of trade in other countries of the world. Major trading partners should be given importance and more of liberalizing attitude is to be followed.
