How trade has impacted the economic condition of India?

India is a developing country where their economy has suffered many changes in the past decade. Being involved in trades with other countries has made their economy grow faster and become a nation more globalized. Moreover,  they are in a process of restructuring their economy in order to elevate their position in the world. 

India has with a very high population, therefore, it is very important for them to be economically interdependent in order to sustain themselves, and for this, they must be involved in trade surplus policies.

Globalization also means foreign companies investing in new territories. India has all the potential to receive multinational companies, adding this a positive effect on their economy and labor situation. Although, several companies already have plants in India.

India still adopted a very restrictive policy as regards foreign equity, capacity expansion for economies of scale and private participation in infrastructure and other strategic sectors (Singh, 2012).

To conclude, trade can positively impact India if they become more open to new markets. For example, they can start by reducing import duties and restriction, and foreign investment barriers. India has all the potential and comparative advantage of multiple resources in order to gain from trades.