Correct Option: C

India has witnessed many changes as a result of globalisation and liberalisation especially during the last decade of second millennium. We have less than 1 per cent share of world trade against more than 16% of world population. At the time of independence, it was higher at about 2% though it was forced to export more than its imports in order to meet the unilateral transfers. In 1950, the Indian share in the total world trade was 1.78%, which came down to 0.6% in 1995. According to the Economic Survey 2002-03, this percentage share of 0.6% continued in years 1997 and 1998. In 1999 this share has increased to 0.7% which clearly indicates that India has failed to increase its share in the total world trade.