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India: Bilateral and Regional Economic Co-operation
By Gautam Murthy, Professor of Economics, Centre for Indian Ocean Studies, Osmania University, Hyderabad
Prior to economic reforms process initiated in 1991, India had adopted a very cautious and guarded approach
to regional economic co-operation with countries in the neighbourhood. Recognising that regional economic co-
operation would continue to feature prominently in world trade, India engaged with its trading partners/blocks with
the intention of expanding its export market and began concluding regional trade agreements (RTAs). Framework
agreements have already been entered into with a number of trading partners with specific road maps to be followed
and specified time frames by which the negotiations are to be completed.
India unveiled the Look East policy in 1991. East Asia including Japan, China, South Korea and ASEAN is today
India’s largest trading partner, ahead of European Union (EU) and the US. Proliferation of Free Trade Agreements
(FTAs) is the clearest evidence of Asian countries’ desire to forge closer economic relationships.
RTAs in the world are characterized as the spaghetti bowl in which trade criss-crosses in a complex fashion
between countries based on tariff differentials and complicated rules of origin. In recent years, India too is a part of
many regional and bilateral groupings.
Since early 1990s, world economies have witnessed a paradigm shift towards market-oriented economic policies
and a careful dismantling of obstacles in international trade. This has helped the smaller, emerging economies gain
access to world markets,modern technologies and collaborations.This has also given them a window to the developed
world and helped them understand the significant role of globalization as an instrument, which could be utilised not
just to achieve economic efficiency, but also to eradicate poverty.
This book is a timely addition to the existing body of literature on India’s economic and trade relations with
different countries of the world.
Contents
1. South-South Cooperation.
2. India’s Look East Policy – Introduction; Indian Cultural Influences in Southeast Asia;Territorial Ambit of Asia; India and ASEAN: Geo-political Realities;
ASEAN-India Economic Dimensions; Geo-economics of Indo-ASEAN Engagement; ASEAN-India Co-operation in Emerging Area.
3. India and Association of Southeast Asian Nations (ASEAN) – Relevance of Regional Groupings; Origins of ASEAN; Cooperation in Industry; Intra-
regional Cooperation; Benefits of Integration; ASEAN and India; India-ASEAN Cooperation in Tourism.
4. India and South Asian Association for Regional Cooperation (SAARC) – SAARC Charter; New Delhi Summit; South Asian Preferential Trade Area
(SAPTA); Pakistan, India and SAARC; Assessment of SAARC; ASEAN and SAARC: An Assessment.
5. India and Asia-Pacific Economic Co-operation (APEC) Forum – Divisive Issues in APEC; Open Regionalism; Osaka Declaration; India’s Standing in
APEC; Political Relations between India and the APEC Countries; Conclusions.
6. India and Indian Ocean Rim Association (IORA).
7. India and the European Union (EU).
8. Sino-Indian Economic Relations – China’s Economy: Small Steps to Giant Leaps; Trends in Chinese Trade with the World; Democracy, Communism
and Economic Restrictions; Strengths and Weaknesses of China; Strengths and Weaknesses of India; Issues of Mutual Concern; Economic Environment
in China; India’s Exports to China: Constraints; Recent Trends in Bilateral Trade.
9. Indo-Australian Economic Co-operation – Indo-Australian Bilateral Engagement; Australian and Indian Economies; Indo-Aussie Business Ties;
Summing Up.
10. India-Singapore Comprehensive – Economic Partnership; Introduction; Singapore Economy; Trade Performance and Policy Options; Investment
Climate and Policies; India-Singapore Trade; Comprehensive Economic Co-operation Agreement (CECA); Key Provisions of CECA; Conclusions.
11. India’s Regional Trade Agreements (RTAs)
12. Uruguay Round of Multilateral Trade Negotiations and India – Dunkel Proposals; Intellectual Property Rights; Indian Position on GATT; Third
World Perspectives; Options for India.
13. India and World Trade Organization (WTO) – GATT and WTO; Objectives and Functions of WTO; India and the WTO; Fifth Trade Policy Review
(TPR) of India; Recent WTO Negotiations and India.
14. Globalization and India – Introduction; Transforming Economies; Managing Different Aspects of Globalization; India’s Approach to Globalization;
Conclusions.
Bibliography; Index
2015 • Pages: 230
Hardbound • 5¾ x 9
ISBN: 978-81-7708-402-3
Price: ` 785
Published by:
New Century Publications
4800/24, Bharat Ram Road, Ansari Road, Daryaganj, New Delhi – 110 002 (INDIA)
Tel.: 2324 7798, 4358 7398, 6539 6605; Fax: 11-4101 7798; Mobile: 98112 66355
Email: indiatax@vsnl.com • info@newcenturypublications.com
www.newcenturypublications.com

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India bilateral and regional trade agreements

  • 1. www.newcenturypublications.com New Century 2 0 1 4 2 0 1 5 India: Bilateral and Regional Economic Co-operation By Gautam Murthy, Professor of Economics, Centre for Indian Ocean Studies, Osmania University, Hyderabad Prior to economic reforms process initiated in 1991, India had adopted a very cautious and guarded approach to regional economic co-operation with countries in the neighbourhood. Recognising that regional economic co- operation would continue to feature prominently in world trade, India engaged with its trading partners/blocks with the intention of expanding its export market and began concluding regional trade agreements (RTAs). Framework agreements have already been entered into with a number of trading partners with specific road maps to be followed and specified time frames by which the negotiations are to be completed. India unveiled the Look East policy in 1991. East Asia including Japan, China, South Korea and ASEAN is today India’s largest trading partner, ahead of European Union (EU) and the US. Proliferation of Free Trade Agreements (FTAs) is the clearest evidence of Asian countries’ desire to forge closer economic relationships. RTAs in the world are characterized as the spaghetti bowl in which trade criss-crosses in a complex fashion between countries based on tariff differentials and complicated rules of origin. In recent years, India too is a part of many regional and bilateral groupings. Since early 1990s, world economies have witnessed a paradigm shift towards market-oriented economic policies and a careful dismantling of obstacles in international trade. This has helped the smaller, emerging economies gain access to world markets,modern technologies and collaborations.This has also given them a window to the developed world and helped them understand the significant role of globalization as an instrument, which could be utilised not just to achieve economic efficiency, but also to eradicate poverty. This book is a timely addition to the existing body of literature on India’s economic and trade relations with different countries of the world. Contents 1. South-South Cooperation. 2. India’s Look East Policy – Introduction; Indian Cultural Influences in Southeast Asia;Territorial Ambit of Asia; India and ASEAN: Geo-political Realities; ASEAN-India Economic Dimensions; Geo-economics of Indo-ASEAN Engagement; ASEAN-India Co-operation in Emerging Area. 3. India and Association of Southeast Asian Nations (ASEAN) – Relevance of Regional Groupings; Origins of ASEAN; Cooperation in Industry; Intra- regional Cooperation; Benefits of Integration; ASEAN and India; India-ASEAN Cooperation in Tourism. 4. India and South Asian Association for Regional Cooperation (SAARC) – SAARC Charter; New Delhi Summit; South Asian Preferential Trade Area (SAPTA); Pakistan, India and SAARC; Assessment of SAARC; ASEAN and SAARC: An Assessment. 5. India and Asia-Pacific Economic Co-operation (APEC) Forum – Divisive Issues in APEC; Open Regionalism; Osaka Declaration; India’s Standing in APEC; Political Relations between India and the APEC Countries; Conclusions. 6. India and Indian Ocean Rim Association (IORA). 7. India and the European Union (EU). 8. Sino-Indian Economic Relations – China’s Economy: Small Steps to Giant Leaps; Trends in Chinese Trade with the World; Democracy, Communism and Economic Restrictions; Strengths and Weaknesses of China; Strengths and Weaknesses of India; Issues of Mutual Concern; Economic Environment in China; India’s Exports to China: Constraints; Recent Trends in Bilateral Trade. 9. Indo-Australian Economic Co-operation – Indo-Australian Bilateral Engagement; Australian and Indian Economies; Indo-Aussie Business Ties; Summing Up. 10. India-Singapore Comprehensive – Economic Partnership; Introduction; Singapore Economy; Trade Performance and Policy Options; Investment Climate and Policies; India-Singapore Trade; Comprehensive Economic Co-operation Agreement (CECA); Key Provisions of CECA; Conclusions. 11. India’s Regional Trade Agreements (RTAs) 12. Uruguay Round of Multilateral Trade Negotiations and India – Dunkel Proposals; Intellectual Property Rights; Indian Position on GATT; Third World Perspectives; Options for India. 13. India and World Trade Organization (WTO) – GATT and WTO; Objectives and Functions of WTO; India and the WTO; Fifth Trade Policy Review (TPR) of India; Recent WTO Negotiations and India. 14. Globalization and India – Introduction; Transforming Economies; Managing Different Aspects of Globalization; India’s Approach to Globalization; Conclusions. Bibliography; Index 2015 • Pages: 230 Hardbound • 5¾ x 9 ISBN: 978-81-7708-402-3 Price: ` 785 Published by: New Century Publications 4800/24, Bharat Ram Road, Ansari Road, Daryaganj, New Delhi – 110 002 (INDIA) Tel.: 2324 7798, 4358 7398, 6539 6605; Fax: 11-4101 7798; Mobile: 98112 66355 Email: indiatax@vsnl.com • info@newcenturypublications.com www.newcenturypublications.com