How has foreign trade been integrating markets

• Globalisation & Indian Economy (C10)

How has foreign trade been integrating markets of different countries? Explain with examples.

Answer

Foreign Trade is Integrating markets of different countries:

1. Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.

2. Producers can sell their products in the markets located in other countries.

3. It helps for expanding the choice of goods beyond domestic market.

4. It is a main channel connecting countries.

5. Highly helpful for extensive trade.

6. The trading interest attracts various trading companies.