INTERNATIONAL TRADE
The exchange of goods among people, states, and countries is referred to as trade. The market is the place where such exchanges take place. Trade between the two countries is called international trade. It may take place through the sea, air, or land routes. While local trade is carried in cities, towns, and villages, state-level trade is carried between two or more states. The advancement of international trade of a country is an index to its economic prosperity. It is, therefore, considered the economic barometer for a country.
As the resources are space-bound, no country can survive without international trade. Export and import are the components of the trade. The balance of trade of a country is the difference between its export and import. When the value of export exceeds the value of imports, it is called a favorable balance of trade. On the contrary, if the value of imports exceeds the value of exports, it is termed an unfavorable balance of trade.
India has trade relations with all the major trading blocks and all geographical regions of the world. The commodities exported from India to other countries include gems and jewellry, chemicals and related products, agriculture and allied products, etc.
The commodities imported to India include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture, and allied products. India has emerged as a software giant at the international level and it is earning large foreign exchange through the export of information technology.
Source: This topic is taken from NCERT TEXTBOOK
TOURISM AS A TRADE
Tourism in India has grown substantially over the last three decades.
More than 15 million people are directly engaged in the tourism industry. Tourism also promotes national integration, provides support to local handicrafts and cultural pursuits. It also helps in the development of international understanding about our culture and heritage. Foreign tourists visit India for heritage tourism, eco-tourism, adventure tourism, cultural tourism, medical tourism and business tourism.
There is a vast potential for the development of tourism in all parts of the country. Efforts are being made to promote different types of tourism for this upcoming industry.
Activity:
1. On the map of India show important tourist places of your State/UT and its connectivity with other parts of the country by railways/ roadways/airways.
Discuss in the class:
* What type of tourism may be developed in your state/UT and why?
* Which areas in your state/UT you find more attractive for the development of tourism and why?
* How tourism may be helpful for the economic development of a region adopting a sustainable development approach?
2. Prepare a project on heritage tourism in India.
Source: This topic is taken from NCERT TEXTBOOK