Print Media

The total number of newspapers and periodicals being published was over 42,000 on December 31, 2006. Hindi publication has the largest share of over 40 per cent of the total. Books are an equally important means of communication for preserving and propagating knowledge, information and entertainment to posterity.

A flow of commodities from producers to consumers is known as trade. It is an important tertiary sector of economy which is carried out at the local, regional, national, and international levels.

India has a long tradition of trading with countries located far and near. Today we are living in a fast shrinking world mainly because of tremendous advances in both transport and communications. We are living in an economically interdependent world, where the world itself has turned into a global village with a self- contained economy. Because of fast means of transport and communications, India conducts international trade with about 200 countries with an endless list of around 8000 commodities. The share of trade in the GDP is about 15 per cent, which engages 7.3 per cent of work force in the country.

There was a time when commodities were imported only for domestic consumption. But now more and more countries including India, have been importing certain raw' or semi-processed materials, not for their own domestic consumption, but to process them further and export them after value addition. Indirectly, what the country exports are. items of human skills. For example, Japan exports cotton and woollen textiles although it imports all its requirements of raw materials from other countries. The same is true of mineral based industries. India imports raw cashewnuts only to re-export them after they are further reprocessed. India imports crude diamonds and other precious stones only to process them further and re-export them as highly finished fine products at a considerable upward margin. India also imports gold and silver and exporting them in the form of attractive and expensive ornaments. International or foreign trade has played a crucial role in India’s economic growth.

During the colonial days India used to export almost entirely agricultural raw materials. India’s traditional exports consisted of jute, cotton, tea, spices, hides, skins, oil-seeds, especially groundnut. At present, instead of exporting raw' materials, India is exporting jute-packing materials (gunnybags, linen, and carpets). In place of cotton, India exports quality yarn, cotton fabrics, including hosiery, readymade garments and skilled and semi-skilled workers. India also exports silk w oollen, and synthetic textiles, processed marine products, manufactured leather goods, sports goods (cricket bats, hockey sticks, etc.) engineering goods like fans, sewing machines, bicycles, three-wheelers, scooters, cars, commercial vehicles, chemicals and allied products, carpets, rice, processed food, medicines, electric goods, books and films.

Table 12.4 shows India’s total export, import, total value of foreign trade and balance of trade from the year 1990-91, 2000-01, and 2005-06,

Table 12.4 India's Foreign Trade (in Rupees crore)

Source: India 2010. p.148.

of crude oil, petroleum and allied products. Capital goods constituting 12.1 per cent of the total import ranks second, while electric goods and gold and silver rank third and fourth in the list of import respectively. Other important items of import are chemicals, pearls and precious stones followed by metal scraps and coke.

Table 12.7 India's Major Trading Partners (2005-06)

Source: The Economic Survey, 2005-06

At present India’s largest international trade partner is USA, followed by UAE, China, UK, Belgium, Germany, I long Kong, andjapan (Table 12.7). There is, however, enough scope to increase the import and export with the India’s adjacent countries.