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Synopsis The book covers everything one needs to know to understand the evolution of Balance of Payments in India right from Independence to the present day along with various theories on Balance of Payments as well as India's Trade and payments policies thereof and researchers' contribution on the theme. Of interest to academics studying India's international trade, this book is also guaranteed to be extremely useful for students studying at different colleges and universities, researchers, professional economists and those involved with policy-making in different developed and developing countries. There is very little research that employs a fully specified holistic or integrated framework for open economies so as to include the insights of alternative theoretical strands and use it to identify the major factors that have hitherto influenced India's Balance of trade and balance of payments over time. This book attempts to fill this gap.