(vi) Reciprocity and Exchange-based Specialization
The homegrown and imports are equally appreciated and lead to export of culture, faith, values, natural materials as well as home grown and homemade materials, goods and services. At a base level it shows respect for the other side of exchange that offers a value in exchange.
Historically, India, the Middle East and Europe are good examples of trading cultures. The whole of Southeast Asia is the best example since World War II. It is the trade which really connected India to all parts of the world.
Post-independence India is rediscovering the importance of international trade as a source of its economic growth and richness. Ideas, people, materials, goods, services, monies are all beginning to flow both ways again based on specialization and comparative cost advantage.
India has consolidated its base of confidence in itself first fifty years or so that it is open for business in the twenty-first century without fear of colonization revisiting India. The growth of international trade and investments from 1993 to 2013 presents a clear evidence of India engaging with the rest of the world and continuing growth of this engagement in the future.
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