ManuScript Details
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Paper Id:
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IJCIRAS1967
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Title:
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TRADE INTENSITY BETWEEN INDIA AND UK
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| Published in: |
International Journal Of Creative and Innovative Research In All Studies |
| Publisher: |
IJCIRAS |
| ISSN: |
2581-5334 |
| Volume / Issue: |
Volume 7 Issue 1 |
| Pages: |
5
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| Published On: |
6/10/2024 1:14:15 AM (MM/dd/yyyy) |
| PDF Url: |
http://www.ijciras.com/PublishedPaper/IJCIRAS1967.pdf |
Main Author Details
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Name:
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Kiran |
| Institute: |
Department of Economics, Punjabi University Patiala, Punjab, India |
Co - Author Details
| Author Name |
Author Institute |
Abstract
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Research Area:
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Economics |
| KeyWord: |
Bilateral Trade, Free Trade Agreement, Trade Intensity Index, Export Intensity Index, Import Intensity Index. |
| Abstract: |
Trade dynamic between India and the UK epitomizes a North-South relationship, reflecting the intricate interplay between an economically advanced nation and a developing nation. The UK, as an economically advanced global North, possesses a significant capacity for high-value manufacturing, technology, and innovation. In contrast, India, representing the global South, offers a rich reservoir of raw materials, labor-intensive goods, and emerging markets .To advance trade and investment relations, both countries formally launched negotiations for a Free Trade Agreement (FTA) on January 13, 2022. The India-UK bilateral trade relationship is already significant, and both countries have agreed to double bilateral trade by 2030 as part of the Roadmap 2030 announced in May 2021. The proposed India-UK FTA provides a great opportunity to remove trade barriers and realize the full potential of bilateral relations between the two countries. This study has attempted to analyze the trade intensity between India and the UK for the period 1995-2022. It has been found that the trade intensity between India and the UK has been declining from 1995 to 2022, with the exception of some initial years. During this period, India's trade intensity with the UK was recorded at 85 per cent, while the UK's trade intensity with India was 105 per cent. Several factors have contributed to this decline, including the formation of regional blocs like SAARC and BIMSTEC for India, the EU for the UK, and the impact of the global financial crisis. The UK's withdrawal from the EU has had a favorable impact on its trade intensity with India. It is crucial for India to focus on strengthening its trade ties with the UK due to the UK's growing significance. |
Citations
Copy and paste a formatted citation or use one of the links to import into a bibliography manager and reference.
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IEEE
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Kiran, "TRADE INTENSITY BETWEEN INDIA AND UK", International Journal Of Creative and Innovative Research In All Studies,
vol. 7, no. 1, pp. 1-5, 2024.
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MLA
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Kiran "TRADE INTENSITY BETWEEN INDIA AND UK." International Journal Of Creative and Innovative Research In All Studies,
vol 7, no. 1, 2024, pp. 1-5.
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APA
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Kiran (2024). TRADE INTENSITY BETWEEN INDIA AND UK. International Journal Of Creative and Innovative Research In All Studies,
7(1), 1-5.
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TRADE INTENSITY BETWEEN INDIA AND UK
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