Published Paper Details:

In modern age, international trade is assumed an engine of economic growth and development. It facilitates vast international market with unlimited opportunities, technological advancement, competitive and efficient allocation of resources into units of economic size. It translates the agrain and traditional economy into the modern industrialized economy. It expands entrepreneurship and tertiary sector also. Hence, it is a great stimulus for growth and development. The entire data for the present study is collected from the secondary sources. The main objective of the paper is to study the trend of India and OECD countries. Foreign trade contributes to economic development in a number of ways. First, the primary function of foreign trade is to explore means of procuring import of capital goods, without which no process of development can start. Secondly, it provides for flow of technology, which allows for increases in total factor productivity, Thirdly,it generates pressure for dynamic change through competitive pressure from imports, pressure of competing for exports markets, and a better allocation of resources. This paper analyzes the growth of INDO-OECD countries during the period. We find that more than 50 percent trade is recorded with OECD countries during the period 1987-88 to 1999-00 but it declined 20 percent trade and is recorded more than 30 percent is recorded with OECD countries during the period 1999-00 to 2019-20.