Trends of Trade Shares:
India's share in total world exports in 1950 was 1.85 percent and the share in total world imports was 1.7 1 percent. The share of both exports and imports in total world trade was 1.78 percentages. These shares have decreased to 0.42 percent, 0.72 percent and 0.57 percent in 1980. This shows that India has poorly performed in trade and many economists argue that this dismal performance was entirely due to India's restrictive trade policies. However, intensities of restrictiveness have been decreasing since the 1980s and we observe this in gradual rising of these shares since 1980. Both exports and imports have registered a significant increase over the years both in terms of value and its share in world trade.
The export has increased from 8586 million dollars in 1980 to 17969 million dollars in 1990 and to 71786 million dollars in 2004. India's share in world export has increased over the years. It has increased from 0.42 percent in 1980to 0.80 percent in 2004. Similarly, India's imports too have experienced a significant rise over the years. It has increased from 14864 million dollars in 1980 to 94060 million dollars in 2004.
The share of imports of India in world imports' has also increased from 1.01 percent in 1980 to 1.52 percent in 2004.