Which of the following statements is true about the changing pattern of India international trade?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. The share of agriculture and allied products has declined, whereas, shares of petroleum and crude products and other commodities have increased.
Over the years, India’s international trade pattern has shifted significantly. The contribution of agriculture and allied products to total exports has gradually declined due to industrialization and the growth of manufacturing and services. In contrast, the import and export of petroleum, crude products, and other industrial goods have increased, reflecting rising energy demands and economic development in various sectors.