L8 - India, EDC
- Created by: Hadley023
- Created on: 22-03-19 11:23
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- India, EDC
- Imports - 1990
- Until the early 1990s, India adopted a trade policy on import substitution with high tariffs on imported goods and restrictions on foreign investment.
- Protects domestic agriculture and manufacturing industry.
- Until the early 1990s, India adopted a trade policy on import substitution with high tariffs on imported goods and restrictions on foreign investment.
- Imports - 2013
- India imports lot of raw goods from nearby countries e.g. China, UAE.
- 2.2% from Japan, 2.9% from South Korea.
- Exports - 1990
- During this period, India doubled its global share of merchandise exports and share of services exports increased fivefold.
- 14% to the USSR, 9.2% to Japan.
- Exports - 2013
- Higher order goods for exports. Total exported goods are worth $142bn.
- Increasing exports to African countries.
- Political conflicts
- Lingering border disputes between India and China but the improved trade relations have helped in stabilizing political conflicts.
- The governments of India and China have common goals.
- Improving living standards.
- Sharing information and best practice regarding domestic economic issues.
- India has border conflicts with China, Bangladesh and Pakistan.
- Economic conflicts
- Growing relationship between China and India has contributed to growth in GDP, further investment and employment opportunities and raising incomes at all levels.
- China was India's biggest trading partner in 2014.
- Environment conflicts
- Conflict over water supply, deforestation, and land degradation in the Himalayan border areas.
- China provides India with flood season hydrological data.
- Beginning of co-operation between India and China over emergency flood management in the Brahmaputra basin.
- Both India and China have signed climate change treaties.
- Imports - 1990
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