Year: 2019 | Month: September | Volume 64 | Issue 3
Agricultural Trade Diversity of India with Asean
Pranesh Pandey
Manesh Choubey
DOI:10.30954/0424-2513.3.2019.17
Abstract:
The ASEAN is India’s fourth-largest trading partner after the EU, the US and China. Considering the significance of trade relation between India and ASEAN, the present study has been conducted with an objective to analyse the diversity in agricultural trade between India and ASEAN nations. The study has incorporated HS-2 digit codes to classify agricultural products and selected products falling under 01 to 24 chapters, which are agricultural products. Time series data of trade from 2001 to 2015 has been used in the present analysis. To see the importance of ASEAN as a major trading partner, shares of India’s trade with ASEAN relative to world has been computed. It is apparent from the result that India’s import from ASEAN is more than its export for the entire period. Simpsons Index of Diversity has been used to know the degree of diversification in agricultural trade between the two trading partners. The findings concluded that India exports of agricultural products are comparatively diversified with ASEAN compared to its import. The result suggests that there is stability in agriculture export earnings of India from ASEAN which in long run can contribute to the Economic growth.
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