India’s economy has finally come of age. In the last five years, there has been phenomenal change in the global trade of goods and services in India. In fact, today the global trade makes up for almost fifty percent of the gross domestic product of the country. This, of course, is good news considering the fact that even after being isolated for years after independence, Indian economy is finally integrated with the global economy.
This growth in the contribution to the GDP itself is a giant leap considering that about five years ago, the goods and services sector made up for only 30.9% of the entire gross domestic product.
There has been a greater openness in the world as far as Indian services are concerned. The trade of merchandise has seen a 57% increase in the last five years. The services trade has also seen a significant growth. Though the ongoing global economic slow down has caused some unrest and has also interrupted India’s growth story, it is believed that this interruption is only temporary and brief. The continuing economic reforms and the government’s proactive interest in improving international trade and bringing India on to the map of global trade
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