Question

Explain any four points of the role of foreign trade in India.

Hint:

Foreign trade plays a key role in boosting economic development by expanding markets and improving efficiency.

Answer 1

Step 1: Define Foreign Trade.
Foreign trade refers to the exchange of goods and services between different countries. It plays a vital role in the economic development of a nation.

Step 2: Four points on the role of foreign trade in India.
1. **Economic Growth**: Foreign trade helps in the growth of the economy by promoting the exchange of goods and services.
2. **Employment Generation**: Export activities create jobs, especially in sectors like agriculture, manufacturing, and services.
3. **Foreign Exchange Earnings**: It helps the country earn foreign exchange, which is crucial for financing imports and maintaining a stable balance of payments.
4. **Technology Transfer**: Foreign trade facilitates the transfer of technology and knowledge, helping India upgrade its industries and improve productivity.

Final Answer: \[ \boxed{Foreign \; trade \; contributes \; to \; economic \; growth, \; employment, \; foreign \; exchange \; earnings, \; and \; technology \; transfer.} \]