Trade plays major role in India's economic growth

Trade plays major role in India’s economic growth

India's Commerce & Industry Minister Kamal Nath this week affirmed India's commitment towards doubling the country's share in the global merchandise trade and reaching $150 billion in exports per annum within four years. Discussing the country's economic reforms and growth at the India Trade and Investment Forum, the minister said that India is a diverse country with many economic paradoxes. He explained that eradicating poverty would go a long ways towards helping India overcome such paradoxes. One such paradox is agriculture. Agriculture in India is not an economic activity, but rather a subsistence activity that 600 million people depend on. Therefore, the doubling of foreign trade is important.