Title: Policy synthesis for sustainable trade: a panel data gravity model approach of India with European Union and ASEAN countries

Authors: Shikha Singh

Addresses: Symbiosis Centre for Management Studies (SCMS), (Constituent of Symbiosis International (Deemed University (SIU), Pune), Block – A, Plot – 47 & 48, Sector – 62, Noida 201301, India

Abstract: More than 26 years of economic and trade reforms have helped the Indian economy to increase trade volumes. This paper reviews India's free trade agreements (FTAs) with Association of Southeast Asian Nations (ASEAN) countries and its proposed FTA with European Union (EU). Annual data of India's exports, imports, and trade volume with EU and ASEAN countries is employed to study the gravity model. Variables studied include distance, population, FTA (dummy variable), and gross domestic product of EU and ASEAN countries for a period of 19 years from 1996 to 2014. The panel ordinary least squares regression method is applied to analyse the relationship between different variables. With the available data set, experiments signify the gravity model for India with EU and ASEAN countries. Different factors are found with respect to the two blocs, and the results are as per the synthesis in this theory.

Keywords: international trade; FTA ; free trade area; ASEAN; Association of Southeast Asian Nations; EU; European Union; India; gravity model.

DOI: 10.1504/JGBA.2025.149994

Journal for Global Business Advancement, 2025 Vol.17 No.2, pp.256 - 276

Published online: 21 Nov 2025 *

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