Over the period 1951 -1990, the composition of India’s exports has undergone a remarkable change. In the beginning of the period, exports consisted largely of primary products like tea. Over the period, processed gems and jewellery, engineering goods, and textiles sharply increased their share in the export basket.
As far as imports are concerned, the government had adopted the import control policy. This included measures like import licensing, quotas, banning of some imports, as well as tariffs (that is, taxes on imports). The initial objective behind these policies was to conserve foreign exchange and protect domestic industries.
Employment generation can take place through expansion of industries large, small and cottage industries. Also the agriculture and service sectors create job: for people. However, in India employment generation has been slower than the growth in labour force. Large investment in the public sector helped in creation of employment in the organised public sector.
The slow growth in employment has been because of many factors such as slow growth in agricultural production, slow expansion of the manufacturing sector, and concentration of investment in the capital goods industry. This has resulted in unemployment in the economy.