An Analysis Of Trade Relation Of India With Saarc Countries

Abstract

Regionalism, generally speaking, is a phenomenon in international trade where states create groups for the purposes of trade and to collectively reduce barriers of trade among the members of a group. Most of this phenomenon appears in the form of Regional Trade Agreements (RTA). These groups, like all trade regimes, vary greatly in terms of the scope of the goods that are covered, the institutional bylaws and guidelines of these agreements, etc. The South Asian Association for Regional Cooperation (SAARC) comprising Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka is a dynamic institutionalized regional cooperation in South Asia, basically perceived as an economic grouping to work together for accelerating the pace of socio-economic and cultural development. South Asia, comprising about 20 percent of world population and 2.7 percent of world land area but only about 2 percent of world GNP was conspicuous by the absence of regional organization until mid-1980.So it is required to have a analysis on the trade relation of India with SAARC countries and the world