Engaging with the World: An analysis of India's trade policy in the wake of the belt and road initiative

Nedumpara, James J. and Subramanian, Archana (2017) Engaging with the World: An analysis of India's trade policy in the wake of the belt and road initiative. NLS Business Law Review, 3. pp. 109-128. ISSN 2456-1010

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India's trade policy goals have turned a full-circle since its Independence in 1947. While agriculture is the backbone of its economy, more recently, India has become a powerhouse in providing manpower and backbone services to a range of sectors such as information technology and software, banking, medical, transport and logistics, telecommunications, engineering services and professional services. This article seeks to place in perspective, India's rise from an inward looking and autarkic economy to an increasingly powerful economy in the world, currently the sixth largest. The objective of this article is to examine India's economic and development paths adopted since its independence and also its engagement with countries and trading blocs through economic treaties and preferential trade agreements. Such an examination is critical as India seeks to assert its place in the global trading community. This examination assumes further significance in light of the Belt and Road Initiative (BRI) spearheaded by China. While India's participation in the BRI is dependent on a myriad of factors, the BRI project promises to shake up the landscape of international economic relations in the years to come. The BRI is not merely an economic initiative, but has strategic and nationalistic undertones, which are too important to ignore. While the contours of BRI are still unfolding, an evaluation of India's own development path and economic interests could be the key to evaluating India's approach towards it.

Item Type: Article
Keywords: World trade | Trade Policy | Economics
Subjects: Social Sciences and humanities > Social Sciences > Law and Legal Studies
JGU School/Centre: Jindal Global Law School
Depositing User: Amees Mohammad
Date Deposited: 10 May 2022 04:02
Last Modified: 10 May 2022 04:02
URI: https://pure.jgu.edu.in/id/eprint/2949


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