...Asia-Pacific Research and Training Network on Trade Working Paper Series, No. 99, April 2011 Utility of Regional Trade Agreements: Experience from India’s Regionalism by Sejuti Jha* * PhD Scholar, Indian Institute of Foreign Trade, New Delhi. The author is grateful to Biswajit Nag, Rajan Sudesh Ratna and Mia Mikic for valuable comments. The paper benefited from the comments received from the participants at the second Empirical Issues in International Trade and Finance conference, organized by IIFT at New Delhi, 16-17 December 2010. The opinion, figures and estimates are the sole responsibility of the author and should not be considered as reflecting the views or carrying the approval of the United Nations, ARTNeT and the Indian Institute of Foreign Trade. Any errors are the responsibility of the author, who can be contacted at sejuti.jha@gmail.com. The Asia-Pacific Research and Training Network on Trade (ARTNeT) is aimed at building regional trade policy and facilitation research capacity in developing countries. The ARTNeT Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about trade issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. ARTNeT working papers are available online at www.artnetontrade.org. All material in the working papers may be freely quoted or reprinted, but acknowledgment is requested, together with a copy of the publication containing...
Words: 10042 - Pages: 41
...2011 is far more open to the external sector than it was in 2006 07. India's total trade in goods (exports plus imports) as a percentage of GDP increased from 32.9% in 2006 07 to 39.7% in 2008 09, though it came down to 33.7% the next year as a fallout of the global economic crisis (see Table 3). This increased openness has enhanced productivity and competitiveness, as reflected in India's export performance in recent years. Table 3 Merchandise trade: exports, imports, trade balance, and trade openness (US$ billion, unless otherwise specified) Year Exports Imports Trade balance Trade openness Exports as % of GDP % growth Imports as % of GDP % growth Trade balance as % of GDP Trade as a % of GDP 2004 05 83.5 11.6 30.8 111.5 15.5 42.7 ( ) 28.0 3.9 27.1 2005 06 103.1 12.4 23.4 149.2 17.9 33.8 ( ) 46.1 5.5 30.2 2006 07 126.4 13.3 22.6 185.7 19.6 24.5 ( ) 59.3 6.3 32.9 2007 08 163.1 13.1 29.0 251.6 20.3 35.5 ( ) 88.5 7.2 33.4 2008 09 185.3 15.1 13.6 303.7 24.6 20.7 ( ) 118.4 9.5 39.7 2009 10 178.8 12.9 3.5 288.4 20.8 5.0 ( ) 109.6 7.9 33.7 2010 11 245.9 14.2 37.5 350.7 20.3 21.6 ( ) 104.8 6.1 34.5 Source: India's Trade at a Glance, Department of Commerce, May 2011. (i) Merchandise exports 12. The growth of India's exports has been robust at over 20% since 2002 03. The global recession only slightly moderated this growth, to 13.6% in 2008 09. The compound annual growth rate (CAGR) of India's merchandise exports during the five year period 2004 05 to 2008 09 was...
Words: 787 - Pages: 4
...Executive Summary Foreign trade has been considered as an engine of economic growth. The progress of a country to a large extent depends on their ability to trade relatively freely with the rest of world. The rapid export growth not only contributes directly to economic growth but it permits more imports and rapid modernization of production. It is necessary to understand Indian Fertilizers Industry position in world trade and their promotional strategy for integrating India with the world trade. In terms of Indian Fertilizer Industry, Composition of Foreign Trade, Direction of Exports and Imports and Major Problems of Indian Fertilizer Export Sector will be analyzed. Overall the industry specific export-import scenario, avenues and prospects, India’s competitive advantages and disadvantages and suitable export strategies to boost the exports of carpet related products will be discussed. Though economic relations between India and Korea have been strengthening, the current size of trade and investment between the two countries is relatively low compared to the size and structural complementarities of the two economies. In this context, the present paper analyses trade and investment relations and explores future areas of potential co-operation between India and Korea. We find that the increase in merchandise trade between the two countries has been mainly because of the changing demand structure and comparative advantages of both the economies in complementary sectors in...
Words: 3290 - Pages: 14
...India’s Trade with SAARC Countries (Value in US $ Billion) | 2006-07 | 2007-08 | 2008-09 | 2009-10 | 2010-11 | 2010-11 (April-Oct) | 2011-12 (April-Oct) | Exports | India’s Total | 126.41 | 163.13 | 185.30 | 178.75 | 251.13 | 123.17 | 170.11 | % share of SAARC countries | 5.12 | 5.91 | 4.62 | 4.69 | 5.13 | 4.65 | 3.76 | Imports | India’s Total | 185.74 | 251.65 | 303.70 | 288.37 | 369.77 | 208.821 | 277.26 | % share of SAARC countries | 0.81 | 0.84 | 0.60 | 0.57 | 0.59 | 0.55 | 0.52 | Source:DGCI&S Highlights of Trade with SAARC | * During April-October 2011-12, Sri Lanka was the largest trading partner of India in SAARC region. * During April-October 2011-12, India has recorded a negative growth rate of exports with Nepal and Pakistan in SAARC region. * During April-October 2011-12, the lowest decline in growth of exports was recorded for Pakistan at (-) 34.93%. * Except for Bhutan, India runs a trade surplus with all other trading partners. | Bilateral Trade with Pakistan (Value in US $ million) Year | Exports | Imports | Total Trade | Balance of Trade | 2006-07 | 1350.09 | 323.62 | 1673.71 | 1026.47 | 2007-08 | 1950.53 | 287.97 | 2238.50 | 1662.56 | 2008-09 | 1439.88 | 370.17 | 1810.05 | 1069.71 | 2009-10 | 1573.32 | 275.94 | 1849.26 | 1297.38 | 2010-11 | 2333.67 | 332.51 | 2666.18 | 2001.16 | 2010-11 (APril-Oct) | 1066.90 | 201.16 | 1268.06 | 865.74 | 2011-12 (APril-Oct) | 694.25 | 226.16 | 920.41 | 468.09 | Source:...
Words: 1215 - Pages: 5
...markets for non-textile related goods and India for textiles. China has some restrictions right now on the import of textiles, whereas India does not. It will most likely be easier to find an English speaking vendor in India. China is currently the world’s biggest trading nation as of last year, measured by the sum of both exports and imports of goods. China’s exports and imports of goods last year came to a total of $3.87 trillion. India’s current GDP in PPP is 7,393,076 million. China’s current GDP in PPP is 18,030,932 million. Both China and India constitute unprecedented stories of economic development. They have already reached heavyweight status in the global economy due to the vibrant growth rates in the last decade. For many of the countries around the world, China is rapidly becoming the most important bilateral trade partner. At this rate, many European countries will be doing more individual trade with China than with European partners. Merchandise trade is a factor that is impacting global trade today. Both China and India’s merchandise exports are dominated by manufactures. The composition of these manufactures and the approach to their production...
Words: 644 - Pages: 3
...Faculty of Business Studies Module: Presentation and Communication Skills Examiner: Dipl. Ök. Marina Alvares-Wegner The BRIC countries Leslie Authier Matr. No.: 7007017 E-Mail: leslieauthier@orange.fr Diana Carolina Ramirez R. Matr. No.: 7004479 E-Mail: dianacarolina_puebla@yahoo.de Maya Höpfner Matr. No.: 7003768 E-Mail: maya.hoepfner@googlemail.com Table of content 1 Introduction...................................................................................................... 2 2 The Federative Republic of Brazil .................................................................... 3 2.1 General information on the Federative Republic of Brazil....................... 3 2.2 Brazil’s connection with the European Union.......................................... 4 2.3 Brazil’s financial situation........................................................................ 5 2.4 Brazil’s imports and exports.................................................................... 6 2.5 Brazil’s leading companies ..................................................................... 9 3 The Russian Federation................................................................................. 10 3.1 General information on the Russian Federation ................................... 10 3.2 Russia’s connection with the European Union...................................... 11 3.3 Russia’s financial situation.................................................................... 12 3.4 Russia’s imports...
Words: 6703 - Pages: 27
...exchanges of knowledge, skills, resources and technical know-how. Main features of South South Cooperation basically comprises of flow of Foreign Direct Investment in South South countries of the Earth, increased volume of trade, shift towards regional integration, technology transfer, sharing of know-how and other exchanges. One of the best suited models of South South Cooperation is the trade relation between India and Africa which geared up with the surge of globalization in new millennium. India’s trade relation with African continent is as long back as in 16th century. However, with Independent India this relation stepped up in Nehru’s regime but this time it was mainly confined to the political handshake as they shared the common past that witnessed struggle against colonialism, poverty and illiteracy. The relation further grew up with various Afro Asian conferences and ITEC programme (particularly useful framework in which ICT skills transfer take place). The trade relation mainly swung after 2000-2001 where the Trade Balance is sharply in the favour of Africa. Bilateral trade was worth $1 billion in 1995. By 2008, that figure had hit $36 billion, according to the African Development Bank Group, and in 2011 it had risen to $45 billion. By 2014, bilateral trade is anticipated to climb to more than $75 billion. Within Africa, till 2000-01,...
Words: 338 - Pages: 2
...cent of FDI and 16.3 per cent of global trade in 2010. However, despite the existence of the huge trade (and investment) potential on account of similar consumer preferences, comparable per capita income, and often complementarities of resource endowment, the intra-regional trade among BRICS nations isn't even 10 per cent of their total trade. INDIA'S TRADE When it comes to India's trade (export and import taken together) with the BRICS, it has grown from roughly US$ 9 billion in 2000-01 to US$ 106 billion in 2010-11. As a result, its share in India's merchandise trade has almost doubled (from 9.4 per cent to 17.1 per cent) in this period. This is quite in contrast to the share of India's traditional trading partners — EU-27 and North America — which has declined from 36.5 per cent in 2000-01 to 22.6 per cent in 2010-11. When it comes to India's export, this decline (in the share of EU-27 and North America) is sharper i.e. 29.3 per cent in 2010-11 from 46.3 per cent in 2000-01. This underlines the growing importance of the BRICS region as a key export market vis-à-vis the developed markets. However, growth in India-BRICS trade isn't homogeneous across all member countries. A deeper analysis of the trade data shows that (i) roughly three-fourth of India's trade with BRICS is accounted for by China & Hong Kong (ii) trade with Russia hasn't kept pace with the growth of either India's overall trade or trade with the BRICS region; India's export to Russia has increased by...
Words: 1154 - Pages: 5
...Business in Asia Country Based Business Opportunities Project Housing Opportunities in India Entering the Indian Housing Market ASIAM 2005 Due: 16th September 2005 Submitted: 10th September 2005 Submitted by: Please return graded assignment to: Brendan O’Farrell – 15 Tandanya Street Deakin Uni - S/N 201027576 Mansfield QLD 4122 TABLE OF CONTENTS 1. Executive Summary 3 2. Introduction 4 3. Country Profile 5 3.1 Population & Demographics 5 3.2 Raw Materials and Infrastructure 6 4. Socio-culture 7 4.1 Religion and Language 7 4.2 Indian Housing 7 4.3 Regional Development 8 4.4 Business Environment 9 5. Political, Security and Legal 10 6. Current and Future Environmental Factors now and as at 2008 11 6.1 Economical 11 7. Industry and Competitor Analysis 13 8. Strategy and Planning 14 8.1 Product Description 14 8.2 Product Manufacturing 14 8.3 Product Distribution Channel 15 8.4 Resource Delivery and Labourer Relations 16 8.5 Product Advantage 16 9. Mode of Entry 17 9.1 Options for Mode of Entry 17 9.2 Recommended Mode of Entry 18 9.3 Organisational Structure and Compensation 20 10. Monitoring and Control 21 10.1 Product Monitoring 21 10.2 Performance Measurement 21 11. Future and Exit Strategy 22 12. Conclusion 23 13. References 24 14. Appendices 27 1. Executive Summary This report was commissioned to examine and analyse environmental information on India to produce...
Words: 5852 - Pages: 24
...Abstract India is a complex nation with a rich history and years of diversity. With the rise of the global economy over the last century, it is safe to say that the country has become a major multi-national player. Although outsourcing to India has been a trend since the early 90’s, the country also has a growing local economy that is primed for investment should the right opportunity arise. However, not just any company can invest in or partner with India. Because India is rich in tradition and very slow to change its views, it will take a savvy, experienced investor with a team of managers willing to take on the task of creating a successful partnership with a country whose past has been riveted with corruption and a caste system that tends to hold its citizens back from improvement. A Multi National Corporation (MNC), with the right resources, will be able to benefit from the positive attributes of the developing country while at the same time contributing to the reduction of poverty and improved lifestyle of local citizens. Q#1. What are the major elements and dimensions of culture in this region? Communication The dimensions of culture can be summed up in a few points: communication, religion, ethics, values and attitudes, manners, customs, social structures and organizations, and education. Beginning with communication is perhaps the most important aspect of culture for a business manager to address. In Cross Border Commerce, author Brian Satterlee quotes John...
Words: 8171 - Pages: 33
...India’s Trade in 2020: A Mapping of Relevant Factors Nagesh Kumar A paper prepared for the Committee on Vision 2020 for India, Planning Commission, Government of India Revised Version: 22 May 2001 Research and Information System for the Non-aligned and Other Developing Countries, Zone 4B, India Habitat Centre, Lodi Road, New Delhi-110003. Tel.: 468 2175, Fax: 468 2174; Email: nagesh@ndf.vsnl.net.in An earlier version of the paper was presented at the Fifth Meeting of the Committee on Vision 2020 for India, Planning Commission, on 8 February 2001. I benefited from discussions with Dr V.R. Panchamukhi, and from comments of Dr S.P. Gupta and other participants at the Meeting The usual disclaimer applies. India’s Trade in 2020: A Mapping of Relevant Factors Introduction India's trade has generally grown at a faster rate compared to the growth of GDP over the past two decades. With the liberalization since 1991 in particular, the importance of international trade in India’s economy has grown considerably. As a result the ratio of international trade to GDP has gone up from 14 per cent in 1980 to nearly 20 per cent towards the end of the decade of 1990s. Given the trends of globalization and liberalization, the openness of Indian economy is expected to grow further in the coming two decades. The more exact magnitude of India's trade in 2020 and its proportion to India's national income...
Words: 9141 - Pages: 37
...100 Paise | Fiscal year | 1 April – 31 March | Trade organizations | WTO, SAFTA, G-20 and others | Statistics | GDP | $1.843 trillion (nominal: 10th; 2011)[1]$4.469 trillion (PPP: 3rd; 2011)[1] | GDP growth | 6.9% (2011-12)[2] | GDP per capita | $1,527 (nominal: 135th; 2011)[1]$3,703 (PPP: 127th; 2011)[1] | GDP by sector | agriculture: 18.1%, industry: 26.3%, services: 55.6% (2011 est.) | Inflation (CPI) | 6.89% (March 2012)[3] | Population below poverty line | 37% (2010) (Note: 42% live less than $1.25 a day)[4] | Gini coefficient | 36.8 (List of countries) | Labour force | 487.6 million (2011 est.) | Labour force by occupation | agriculture: 52%, industry: 14%, services: 34% (2009 est.) | Unemployment | 9.8% (2011 est.)[5] | Average gross salary | $1,330 yearly (2010) | Main industries | telecommunications, textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals | Ease of Doing Business Rank | 132nd[6] (2011) | External | Exports | $303.7 billion (2011 est.) | Export goods | petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel | Main export partners | US 12.6%, UAE 12.2%, China 8.1%, Hong Kong 4.1% (2010) | Imports | $488.6 billion (2011 est.) | Import goods | crude oil, precious stones, machinery, fertilizer, iron and steel, chemicals | Main import partners | China 12.4%, UAE 6.5%, Saudi Arabia 5.8%, US 5.7%...
Words: 9405 - Pages: 38
...Dehradun. (Uttarakhand), INDIA __________________________________________________________________________ Abstract India’s rapid economic growth has made it the second fastest growing energy market in the world. Its domestic and international strategies has produced foreign policy differences with the United States that will require careful management on both sides. India’s basic approach to energy diplomacy has been to develop its supply potential and neutralize its potential competitors, principally China. India’s strategic interest in Iran as its energy partner and then the Iraq crisis are having a negative consequence on its economic prosperity, placing it on crossroads with the US. There is a divide between US and EU about the wisdom and desirability of imposing harsh economic sanctions on Russia. In any such confrontation, EU stands to lose much more than the US, though it can be argued that Russia will be the worst loser. In future, Russia may try to find new potential market for its gas and that could be India. So it is important for India to take its stand on Ukraine crisis carefully without tarnishing its relation with USA. India’s long-term prosperity hinges to some degree on a conflict free neighborhood; that an economically integrated region is in India’s overall security interests. Keywords: oil crisis, energy diplomacy, Ukraine Crisis, trade agreement, SAARC Nations Literature Review Indian foreign policy has always concentrated around major powerful nations...
Words: 8568 - Pages: 35
...INTRODUCTION ―The Union is founded on the principles of liberty, democracy, respect for human rights and fundamental freedoms, and the rule of law, principles which are common to the Member States.‖ - Article 6, Treaty on European Union The European Union is not a federation like the United States. Nor is it simply an organization for cooperation between governments, like the United Nations. Neither is it a State intended to replace existing states, but it is much more than any other international organization. The EU is, in fact, unique. Never before have countries voluntarily agreed to set up common institutions to which they delegate some of their sovereignty so that decisions on specific matters of joint interest can be made democratically at a higher, in this case European, level. All EU decisions and procedures are based on the treaties agreed to by all EU countries, under which sovereignty is shared in specified areas. The result is a union of 27 Member States covering 1.6 million square miles with roughly half a billion people producing almost a third of the world‘s gross national product and speaking more than 23 1 languages, bound together by a desire to promote peace, democracy, prosperity, stability, and the rule of law. The EU embraces the fundamental values shared by its Member States across a multitude of cultures, languages, and traditions. The Member States agree that democracy is the best form of government. They believe in societies that encourage...
Words: 8089 - Pages: 33
...economic framework for expanding ties and promoting economic growth. With the new expanded strategic vision – “Look East” policy 2, India has broadened the definition of its security interest in its strategic economic endeavors. It is generally seen that India’s partnership with ASEAN have had an impact on India’s economic, political, and security related involvement ‘in these larger, concentric coalitions around ASEAN…in East Asia and in the Asian Pacific’ (Gujral, 1996, p. 12). The look east policy has integrated a larger regionalization framework and strategy encompassing the Asia Pacific issues (Scott, 2007). WE ARE TECHNOLOGY THESIS EXPERTS! ORDER NOW! WWW.UKESSAYHUB.COM The Indians-ASEAN links do not only have economic frameworks but strategic underpinnings as well. As Scot (2007) has indicated, china has been a factor in all of the India’s initiatives albeit blurred in economic progressions. Some analysts have argued that the growing Chinese economic and military influence in Asia has been the anchorage on the basis of which the strategic molding of ‘look East Policy’ was structured. India’s continued influence has therefore been viewed as providing ‘a balance’ to Chinas growing influence in the region. India’s aspiration to be a major global power is indisputable. For many years, India took pride in its role as leader of...
Words: 30557 - Pages: 123
