Answer:
This
statement is true because
(i) As the resources are space bound, no country can survive without
international trade.
(ii) Goods or resources possessed by one country are
required by other and vice versa. These differences create conditions for
international trade.
(iii) Foreign trade has helped India to improve its productivity
of manufactured goods. International trade contributes to India's economic
growth, raising income levels of people.
(iv) In the recent years exchange of commodities and goods
have been superseded by the exchange of information and knowledge.
(v) India has emerged as a software giant at the international
level and it is earning large foreign exchange through the export of
information technology.
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