RECENT TRENDS IN GLOBAL TRADE

Masters of Commerce (Accountancy)

Semester I

Submitted In partial Fulfillment of the requirements For the Award of Degree of Masters of Commerce (Accountancy) By NOORAL ALFA BASHIR

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VIVEK COLLEGE OF COMMERCE VIVEK COLLEGE ROAD, SIDDHARTH NAGAR

GOREGAON (W), MUMBAI-400 062.

VIVEK COLLEGE OF COMMERCE VIVEK COLLEGE ROAD, SIDDHARTH NAGAR GOREGAON (W), MUMBAI-400 062.

CERTIFICATE

This is to certify that NOORAL ALFA BASHIR of M.com. Accountancy Semester I (2012-2013) have Successfully completed the project on RECENT TRENDS IN GLOBAL TRADE under the Guidance of Prof:

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Internal Guide

External Guide

_____________ Co-ordinator

____________ Principal

DECLARATION

I NOORAL ALFA BASHIR the student of M. Com. Accountancy Semester I (2012-2013) hereby Declare that I have completed the projects on RECENT TRENDS IN GLOBAL TRADE

The information submitted is true and original to the Best of my Knowledge

________________ NOORAL ALFA BASHIR

Date:-

Acknowledgement

To list who all have helped me in difficult because they are so numerous and the department is so enormous. I would like to acknowledge the following as being idealistic channels and fresh dimension in completion of this project. I take this opportunity to thank the UNIVERSITY OF MUMBAI for giving me a chance to do this project. I would like to thank my principal Smt. Nandita Roy for providing the necessary facilities for the completion of this project. I take this opportunity to thank our coordinator Prof. Pradip Hathi for his moral support and guidance. I would also like to express my sincere gratitude towards my project guide Prof. Jose Augustine whose guidance and care made this project successful. I would like to thank my college library for having provided various reference books and magazines related to my project. Lastly I would like to thank each and every person who directly or indirectly helped me with the completion of the project especially my parents and peers who supported me throughout the project.

NOORAL ALFA BASHIR

EXECUTIVE SUMMARY

India's total external trade (exports plus imports including re-exports) in the year 195051 stood at Rs. 1214 crore. Since then, this has witnessed continuous increase with occasional down turns. During 2007-08 the value of Indias external trade reached Rs. 1605022 crore. India's exports of merchandise goods touched the target of US$159 billion in 2007-08 recording a growth of around 26% in dollar terms. Indias growth of exports is much higher than that of the world economy as well as many major economies of the world. At the same time, imports increased from Rs. 840506 crore in 2006-2007 to Rs. 964850 crore during 2007-2008 thereby registering a growth of 29% in rupee terms. The trade deficit in 2007-08 was increased to Rs. (-) 324678 crore as against Rs. (-) 268727 crore during 2006-07. In dollar terms, Asia & Asean accounted for 51.54 per cent of Indias total exports, followed by Europe (22.99%) and America (17.04%). Indias imports were highest from Asia & Asean (62.52%) followed by Europe (19.97%) and America (9.05%), during the same period. Frame Work Treaty for the Preferential Trade Agreement (PTA) between India and SACU countries. In a meeting of JWG held in Namibia on 6th-7th September 2004, the draft Framework Agreement was finalized. In the sixth session of the India-South Africa Joint Ministerial Commission Meeting held in New Delhi on 5-6 Dec. 2005, both sides agreed that a comprehensive Free Trade Agreement within a reasonable time, and in the interim, a limited scope agreement providing for exchange of tariff concession on select list of products between India and SACU, would give further impetus to bilateral trade. India and Southern African Custom Union (SACU) commenced negotiations for Preferential Trade Agreement (PTA) at Pretoria, South Africa on 5th-6th October, 2007. The 2nd round for PTA with SACU was held at Walvis Bay, Namibia on 21st-22nd February, 2008.

INDEX
SR.NO 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. TOPIC INTRODUCTION GLOBAL TRADE BENEFIT INTERNATIONAL TRADE ANALYSIS OF EXPORTS ANALYSIS OF IMPORTS FOREIGN TRADE IN INDIA HIGHLIGHTS IN INDIA S TRADE POLICY SPECIAL SCHEME IN TRADE POLICY INDIAS TRADE WITH DIFFERRNT COUNTRIES FREE TRADE AGREEMENT BIBLIOGRAPHY PAGE NO. 1-4 5 6-12 13-16 17-18 19-21 22-25 26-30 31-35 36