This story is from January 22, 2018

TOI Budget 2018 special: India’s economy is more globalised than China, US

TOI Budget 2018 special: India’s economy is more globalised than China, US
Key Highlights
  • In the Budget special series, today TOI crunches numbers to find out that India's economy is more globalised than the superpowers- US and China.
NEW DELHI: One of the measures of globalisation is trade (export and import) as percentage of GDP. In 1990, trade accounted for only 15 per cent of India’s GDP, nearly half of China’s trade-GDP ratio. But the picture now is very different. In 2016, India’s trade had risen to nearly 40 per cent of GDP, whereas it was only 37.05 per cent in the case of China, and this despite a slight drop in trade.

Of course, in the case of China, trade peaked at 63 per cent of GDP before falling again, reflecting a change in the structure of the economy towards being more driven by domestic demand. Wonder what finance minister Arun Jaitley has in store in Budget 2018 to give a leg up to both trade and domestic consumption?
budget globalisation (1)

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