State the features of changing nature of world trade? How far the ‘Make in India’ and ‘Digital India’ programmes are in tune with changing nature of world trade?

The changing nature of world trade is characterized by several significant features that reflect the evolving dynamics of the global economy. One of the foremost features is the increasing interdependence among nations due to globalization. Countries are now more connected than ever, with supply chains spanning multiple continents. This interconnectedness allows nations to specialize in certain industries and import goods that are produced more efficiently elsewhere, leading to a greater flow of goods, services, and capital across borders.

Another prominent feature is the rise of emerging markets, particularly in Asia, which are playing an increasingly pivotal role in global trade. Countries like China and India have become major players in the global economy, attracting foreign investment and expanding their manufacturing capabilities. This shift has led to a rebalancing of global economic power, where traditional Western economies are no longer the sole drivers of global trade.

Technological advancements also significantly influence the changing landscape of world trade. Innovations in communication and transportation have drastically reduced costs and improved efficiency, enabling businesses to operate on a global scale. The rise of e-commerce and digital _______ _______ __________ ____ _______ ______ _______ ________ ______ _____ ________ _______.
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