I (Meaning and importance of Exports) Unit Structure

 
Check Your Progress 
1. Define the terms: 
a. Sunrise products 
b. Services 
c. Engineering goods 
d. Composition of export 
2. 
“Indian is one of the leading exporters of services in the world.” 
Explain. 
2.6 
DIRECTION OF INDIA‘S EXPORTS SINCE 2000 
By direction of export trade, we mean the countries to which 
we export goods and services. India has trading relations with large 
number of countries. The process of trade liberalization and world 
trade dynamics have brought out major shifts in the directional 
pattern of India‟s foreign trade. For the purpose of direction of 
exports, the countries to which India exports are broadly divided 
into five groups that is 
– 
Organization for economic co-operation and development 
(OECD) comprising of USA, Canada, European Union, Australia 
and Japan. 
Organization of Petroleum Exporting Countries (OPEC) which 
includes Kuwait, Iran, Iraq, Saudi Arabia, UAE and others. 
Eastern Europe which includes Rassia, Georgia and others. 
Developing countries of Asia, Africa, Latin America and 
Caribbean 
Other countries which do not fall in the above four groups 
Direction of India‟s exports (in percentage) 
Group 
2000-01 
2007-08 
OECD 
52.7 
38.4 

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23 
OPEC 
10.9 
16.3 
E. Europe 
03.0 
02.1 
Russia 
02.0 
00.6 
Developing countries 
29.2 
42.6 
Others 
04.2 
00.4 
Total (parentage) 
100.0 
100.0 
Total US $ Billion 
44.6 
163.1 
Source: - RBI handbook of statistic on Indian Economy 2007-08 
From the above table it gives proper direction of India‟s 
exports. These one explained as follows-