Analyse the changing pattern of import composition in India between 2009 to 2017.
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Solution and Explanation
International trade and India's resource demands.
Step 2: Meaning
Analyzing the shifts in the types of goods India purchased from foreign nations to sustain its rapid economic, demographic, and industrial growth during this period.
Step 3: Analysis
• Energy Demands (POL): Petroleum, Oil, and Lubricants (POL) consistently remained the largest import category. This was driven by the massive energy demands of India's growing industries and expanding transport sector.
• Capital Goods: The import of capital goods (such as heavy machinery and transport equipment) increased significantly to support the rapid expansion of domestic manufacturing and national infrastructure development.
• Industrial Raw Materials: Imports of raw materials and intermediate goods (like chemicals, plastics, and ores) grew steadily to feed the domestic industrial base.
• Gold and Silver: Gold and silver remained substantial import items due to sustained domestic cultural demand and their use as safe-haven investments.
• Agricultural Imports: Imports of certain agricultural products (like edible oils and pulses) occasionally spiked during this period to meet domestic shortages and stabilize local market prices.
Step 4: Conclusion
India's import composition between 2009 and 2017 heavily reflected its needs as an emerging economy: massive energy requirements (POL), machinery for industrialization, and raw materials for manufacturing.
Top CBSE CLASS XII Geography Questions
Read the passage carefully and answer the questions that follow:
Hunting and Food Gathering
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