1 Give a brief overview of India’s foreign trade since independence.
Answer : India has formal diplomatic relations with most nations; it is the world’s second most populous country, the world’s most-populous democracy and one of the fastest growing major economies. With the world’s eighth largest military expenditure, third largest armed force, tenth largest economy by nominal rates and third largest economy in terms of purchasing power parity, India is a regional power,a nascent great power and a potential superpower. India’s growing international influence gives it a prominent voice in global affairs. The Economist magazine argues, however, that underinvestment in
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