A Comparative Review of India’s Foreign Trade Pre and Post COVID-19

A Comparative Review of India’s Foreign Trade Pre and Post COVID-19

Meghadip Nandy

Student, NSHM College of Management & Technology, Kolkata

Dr. Chandrima Ganguly

Assistant professor

NSHM College of Management & Technology, Kolkata

Introduction

Foreign trade plays a vital role in promoting economic growth, providing employment opportunities, making international relations and allowing countries to access resources and products that they cannot produce domestically and those products also which has a lower production capacity in their nation. Foreign trade is essential for the domestic as well as global economy as it allows countries to specialize in producing goods and services in which they have a comparative advantage (i.e., they can produce more efficiently or at a lower cost) and to access these products that may not be available domestically not only it can be obtained at a cheaper cost from other countries.