Economic concert, cooperation and trade specialisation of India in comparison with the rest of BRICS nations

Pooja Kansra, Pawan Kumar, Sushanta Kumar Mahapatra and Sumit Oberoi

International Journal of Trade and Global Markets, 2021, vol. 14, issue 6, 580-602

Abstract: Economic integration is an absolute necessity for sustainable economic growth and helps economies to focus on issues that encourage trade by reducing the incompetence and inability of the nation. The study aims to analyse economic performance, trade intensity, and trade specialisation of India in comparison with the rest of BRICS nations by using the 6-digit level of harmonised standard (HS) product clusters. The data was analysed using trade intensity index (TII) and Lafay Index (LFI). The analysis was carried under six distinctive industry levels as proposed by Basu and Das. Ex-post results of economic cooperation between India and BRICS nations reveal that, as far as trade is concerned BRICS nations specifically China has gained more export surplus than India.

Keywords: trade specialisation; HS; harmonised standard; BRICS; Lafay index; TII; trade intensity index; economic performance; cooperation; economic integration; EII; export intensity index; import intensity. (search for similar items in EconPapers)
Date: 2021
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