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Trade in India

Trade In India

Trade in India has had quite a long standing history, dating back to ancient civilizations. However, Indian trading is most likely most noted because of the East India Company, which was an English joint stock company that was set up in the Indian subcontinent and engaged in international trade with India as well as China. The Indian trading at the time consisted of cotton, opium, tea, and silk, and the trade in India would eventually lead to the colonization of the nation by the British.

In modern times, trade in India has proved to evolve, engaging trade with countries throughout the world. The United States is engaged in India trading, and the relationship has proved to be an important one in terms of international trade. One of the mainstays with Indian trading is the expanding technology field and industry in the continent, providing for great opportunity for India to enter the market, while importers can take advantage of proficient and new technology.

However, even though the United States and India have a strong international trading relationship, there is no free trade agreement in place between the two nations. This can prove to make Indian trading more complex, and has the possibility of creating situations for trade barriers as well. However, in recent years, Indian trading in the pharmaceutical field has allowed for the reduction of tariffs, which may be implemented to other trading aspects along the line.

NEXT: What You Must Know About International Trade

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