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India's Trade and Development Strategies With BRCS, EAC, and SCO in the Era of Globalization

India's Trade and Development Strategies With BRCS, EAC, and SCO in the Era of Globalization

Sandip Solanki, Krishna Murthy Inumula
Copyright: © 2020 |Pages: 18
ISBN13: 9781799817307|ISBN10: 179981730X|ISBN13 Softcover: 9781799817314|EISBN13: 9781799817321
DOI: 10.4018/978-1-7998-1730-7.ch006
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MLA

Solanki, Sandip, and Krishna Murthy Inumula. "India's Trade and Development Strategies With BRCS, EAC, and SCO in the Era of Globalization." Regional Trade and Development Strategies in the Era of Globalization, edited by Akhilesh Chandra Prabhakar, et al., IGI Global, 2020, pp. 108-125. https://doi.org/10.4018/978-1-7998-1730-7.ch006

APA

Solanki, S. & Inumula, K. M. (2020). India's Trade and Development Strategies With BRCS, EAC, and SCO in the Era of Globalization. In A. Prabhakar, G. Kaur, & V. Erokhin (Eds.), Regional Trade and Development Strategies in the Era of Globalization (pp. 108-125). IGI Global. https://doi.org/10.4018/978-1-7998-1730-7.ch006

Chicago

Solanki, Sandip, and Krishna Murthy Inumula. "India's Trade and Development Strategies With BRCS, EAC, and SCO in the Era of Globalization." In Regional Trade and Development Strategies in the Era of Globalization, edited by Akhilesh Chandra Prabhakar, Gurpreet Kaur, and Vasilii Erokhin, 108-125. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-1730-7.ch006

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Abstract

India's trade with the major economic groups BRCS, EAC, and SCO revealed that there exists a long-run equilibrium relation between BRCS and SCO group of countries trade with India's economic growth, whereas EAO group of countries does not show any long-run equilibrium relation. It is concluded that 1% change in imports from BRCS countries causes the economic growth to increase by about 0.84% meaning that in the long run, imports from BRCS countries tend to have a significant impact on economic growth, similarly a 1% change in exports to BRCS countries causes the economic growth to decrease by about 0.53%, meaning that in the long run, exports to BRCS countries tend to have a significant impact on economic growth. Similar to BRCS co-integration model, the SCO group of countries' imports are positively affecting, whereas exports are negatively affecting economic growth. The exported items to SCO countries are negatively affecting the economy meaning that exports are not contributing.

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