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Q.

Today, the world has been converted into a large village with the help of efficient and fast-moving transport. Transport has been able to achieve this with the help of an equally developed communication system. Therefore, transport, communication and trade are complementary to each other. Today, India is well-linked with the rest of the world despite its vast size, diversity and linguistic and socio-cultural plurality. Railways, airways, waterways, newspapers, radio, television, cinema and internet, etc. have been contributing to its socio-economic progress in many ways. The trades from local to international levels have added to the vitality of its economy. It has enriched our life and added substantially to growing amenities and facilities for the comforts of life. For a long time, trade and transport were restricted to limited space; with the development of science and technology, the area of influence of trade and transport economy. It is, thus, evident that a dense and efficient network of transport and communication is a prerequisite for the local, national and global trade of today.
The trade from local to international levels has added to the vitality to the country's [[1]]
 


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Detailed Solution

The trade from local to international level has added vitality to the country's economy. When local trade becomes global, it increases the competition and lowers the prices of goods and services, thus increasing the purchasing power of the consumers and benefiting them. Because of international trade, other countries' goods and services become available to local consumers, thus widening their bracket of choices. It brings foreign currency when local products are exported to other countries. It breaks the monopoly in the domestic market and spurs innovation and efficiency.
 
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