Presented to depend on other countries for the

 Presented By:Ankit (GEN) 2nd1612410Normally, their is no country which is self-sufficient.  Their is need to depend on other countries for the purpose of importing goods and services  which is non-available with its own country. Similarly, they can export goods, which are in surplus or is in demand of other outside countriesForeign trade is stand for trade between the two and more then two countries. Foreign trade also involves different types of currencies relates to different countries and trade is regulated by rules and regulations of the countries concerned. Thus, foreign trade is more difficult and complex network.? Definition? According to Wasserman and Haltman, “International trade consists of transaction between residents of different countries”.? According to AnatolMarad, “International trade is a trade between nations”.? According to Eugeworth, “International trade means trade between nations”.? Composition of India’s Foreign TradeThe Foreign trade show a vital role in the growth  of economy of every country. It is a primary link of integration of our economy with other economies of world. India is no exception to it and being a developing economy, the foreign trade has long lasting ramifications on the economic health of the country. In recent times of slowdown across global economies , India is considered to be one of the most exciting markets for foreign trade with a large base of export and import centric industries. Considering the merchandise trade, India’s share in total world exports is 1.6 % while that of imports is 2.4 %. On the other hand, the share of services exports in the world is 3.2 % and that of imports is 3.0%.Given the significance of India’s trade, an attempt has been made hereby to give an overview of India’s foreign trade in 2015-16 and its comparative performance over the last year. The analysis has been undertaken for merchandise trade as well as trade in services. Exports and imports have been studied from the perspective of composition and direction of trade. In addition, the link between merchandise trade and Index of Industrial Production (IIP) has been explained. Key highlights:Merchandise Trade? Exports declined by 15.8% primarily due to decrease in oil exports, owing to subdued global demand and fall in oil prices while imports shrank by 15.3% y-o-y. Gold imports declined by 7.8% pertaining to reduced domestic demand and fall in prices.? India has emerged as the net beneficiary of the collapse in oil prices. In 2015-16, the trade deficit remained at $118.5 bn, lowest in last 5 years.? The domestic production for some of the major industries such as transport equipment, petroleum products, textiles, iron and steel is positive, however, the export and imports of these have decreased.? At the commodity level, exports of petroleum and crude oil products have dropped drastically by 49.4 %. The imports of petroleum crude and products have decreased by 40.5 % y-o-y, on account of slide in the crude oil prices in the international market, declining the import bill.• Export profileComposition of India’s exports for the first 11 months, the largest share is registered by manufactured goods in the total exports that is 74.1 %. The large share of engineering goods, chemical products and miscellaneous category contribute to the share of manufacturing goods. In 2015-16, all components of exports except chemical and related products and readymade garments registered negative growth. The exports of crude oil and petroleum products have diminished by 49.4 %. Manufactured goods, that has highest share in exports, have fallen by 8.0%. This fall can be primarily attributed to decline in the exports of iron and steel, which recorded a dip by 36.5% in 2015-16. The exports of agriculture & allied products have diminished by 18 %. The jewellery and gems industry, accounting for 15 % share in the total exports, has witnessed decrease in growth by 6.21