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2 cards from this section. Quick, good the night before a test.
What is a trade deficit?
Think about what happens when you buy more than you sell.
Name one major item India imports.
Consider India's energy needs.
What was the value of India's imports in 2021-22?
Remember the numbers related to trade in the section.
Is it true that India has a trade surplus?
Look back at the definitions of trade surplus and deficit.
If India aims to double its share in international trade in the next five years, what strategies could be employed to enhance exports? Discuss the potential impacts.
Consider factors like innovation, government policy, and market access.
Evaluate the effects of the rising import of petroleum on the Indian economy.
Think about the correlation between energy needs and economic growth.
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