India is the world's most populous democracy. Though one of the oldest civilization in existence. It has been a nation only since the end of British colonial rule in 1947. Historically, services and manufacturing have driven economic gains, but the majority of Indians still work in agriculture.
India was largest and intentionally isolated from the world market. India's exports were stagnant for the 15 years after independence. The predominance of tea, jute and cotton manufactures, demand for which
was generally inelastic. India's major trading partners are China, the US,the UAE,the UK,Japan and the EU. India is a found-member of general agreement on tariffs and trade(GATT) since 1947 and its successor.
India's balance of payments on its current account has been negative. As the third-largest ecomy in the world. India is undoubtedly one of the most preferred destination for foreign direct investments(FDI). India has strength in information technology and other significant areas are auto components,chemicals,apparels, pharmaceuticals and jewelery.
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