Abstract
At the outset of the pandemic, geopolitics and trade scenarios are undergoing massive changes calling for a detailed evaluation of development in economic strategies. India, the most populous emerging nation with economic and military capability in South Asia plays a vital role in reorienting the trade situation in the region. Interpreted as an inward-looking strategy, atmanirbhar Bharat─ a ‘self-reliant’ strategy is the latest version of Prime Minister Narendra Modi. As a successor of the ‘Make in India’ initiative, launched six years ago– the new blueprint is sought to accommodate the shortcomings of the former. South Asia contributes to the lowest trade of less than 5 percent in the region. In this paper, the trade performance of the South Asian countries is reviewed in the context of India adopting a quantitative framework to assess import and export performance post-COVID. The paper in specific, would critically review the trade policy strategy of India and detail the determinants of increasing trade. Despite the shrinking trade deficit, India suffers from certain other fundamental factors in trade strategy. Poor participation in the Global Value Chain, exporting capital intensive commodities, and lack of presence in any major trade bloc. In the crossroad of geopolitics and economics, this analysis considers India’s trade strategy in a post-pandemic world.
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
KEYWORDS
Trade, India, South Asia, Exports, Global Value Chain
