Issue

Vol. 5 No. 2 (2016)

India’s Trade Integration with the East African Community: Present Scenario and Future Potentials

https://doi.org/10.56279/jhss.v5i2.144
Debashis Chakraborty
Sahu

Corresponding Author(s) : Debashis Chakraborty

Debashis.Chakraborty@ind.com

Journal of Humanities & Social Science (JHSS), Vol. 5 No. 2 (2016)

Abstract

Since the initiation of economic reforms in 1991, India adopted an outward-oriented
strategy for development. After the inception of the World Trade Organization (WTO) in
1995, the country initially relied on multilateral trade reforms for export growth, but
slow progress of the Doha Round negotiations over the last decade caused it to explore
the regional trade agreements (RTAs) route as well from 2003-04 onwards. While in the
initial period India focused on deeper trade relationship with Asian partners—namely,
the Association of Southeast Asian Nations (ASEAN), Japan, South Korea, etc.—as
preferential trade allies, the perceived need to diversify the export markets has led the
country to focus on potential trade partners in Africa, Europe, North and Latin America
as well in recent times. On the other hand, the economies of East Africa are also
embracing the RTA route for their trade promotion, and the growing Indian market
offers an opportunity for them as well. The present analysis attempts to understand the
trade potential between the five East African Community (EAC) countries and India in the
sphere of merchandise and services trade by looking through various trade indices. The
empirical results indicate that bilateral trade between the two regions have a strong
potential, which can be aided further through policy reforms at both ends.

Keywords

trade policy, international trade organizations, economic integration, EAC, India
India’s Trade Integration with the East African Community: Present Scenario and Future Potentials. (2022). Journal of Humanities & Social Science (JHSS), 5(2). https://doi.org/10.56279/jhss.v5i2.144
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India’s Trade Integration with the East African Community: Present Scenario and Future Potentials. (2022). Journal of Humanities & Social Science (JHSS), 5(2). https://doi.org/10.56279/jhss.v5i2.144
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