JEMTEC

Recently the Ministry of Commerce and Industry has released India's foreign trade statistics for the last financial year 2018-19. According to them, in the year 2018-19, India's exports grew by 9 percent to about $ 331 billion. Although this is a record level of exports, it is well below the $ 350 billion export target. Similarly, in the last financial year, the country's imports also increased by about 9 percent to about $ 507 billion. That is, during the last financial year, the trade deficit increased to a record level of about $ 176 billion, which was $ 162 billion in 2017-18. What is trade balance? The difference between import and export is called Balance of Trade. When a country imports more than exports, it faces a trade deficit. That is, that country is not able to produce enough goods and services according to the demand of its people, so it has to import them from other countries. Conversely, when a country exports more than imports, it is called Trade Sur...