Title: Economic concert, cooperation and trade specialisation of India in comparison with the rest of BRICS nations
Authors: Pooja Kansra; Pawan Kumar; Sushanta Kumar Mahapatra; Sumit Oberoi
Addresses: Department of Economics, Mittal School of Business, Lovely Professional University, Punjab, 144411, India ' Department of Marketing, Mittal School of Business, Lovely Professional University, Punjab, 144411, India ' Department of Economics, ICFAI Business School (IBS) Hyderabad, The ICFAI Foundation for Higher Education (IFHE) University, Dontanapally Campus, Shankerpally Road, Hyderabad, 501203, India ' Mittal School of Business, Lovely Professional University, Punjab, 144411, India
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.
International Journal of Trade and Global Markets, 2021 Vol.14 No.6, pp.580 - 602
Received: 12 Mar 2020
Accepted: 25 May 2020
Published online: 10 Nov 2021 *