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 in recent decades has been shaped by a variety of economic, technological, and geopolitical factors. Several key features define this transformation, including globalization, technological advancement, digitalization, the rise of emerging markets, shifts in supply chains, and the increasing importance of services in trade.

1. Globalization and Integration of Markets
Globalization has led to a more interconnected world economy. The reduction in trade barriers, liberalization of economies, and the establishment of multilateral trade agreements have allowed goods, services, and capital to move more freely across borders. The World Trade Organization (WTO) and regional trade agreements (RTAs) have further reinforced this trend. India, through its trade liberalization in the 1990s, became increasingly integrated into global trade, with a rise in both imports and exports.

2. Technological Advancements and Digitalization
Technological advancements, particularly in information and communication technologies (ICT), have revolutionized global trade. The internet, artificial intelligence, automation, and the Internet of Things (IoT) have reduced the friction of trade, enabling businesses to access new ________ _________ ___ _____ ____ ____ ___ _____.
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