Why the US economy’s jitters should worry India, Auto News, ET Auto
Before Liberalisation in the 1990s, many sectors of the Indian economy were not integrated with the rest of the world. Until 1990, India’s trade – sum of exports and imports of goods and services – amounted to 15% or less of its GDP. It weathered the 1997 Asian ﬁnancial crisis well because trade made up just over 20% of GDP at the time. But by the 2008 global meltdown India’s trade-to-GDP ratio had crossed 50%, so its impact was strongly felt. At present, India’s trade-to-GDP.
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