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International Trade Between India & Africa

Most of the research focus on international trade concerns trade involving the developed economies. Within this context, researchers analyze trade among developed economies and, to a lesser extent they analyze the so-called North-South trade between major developed economies and newly industrializing, less developed, developing economies. A major focus on international trade that frequently is overlooked by researchers, however, is South-South trade - trade among economies other than the major developed economies. South-South international trade offers great potential for the creation of economic growth among the newly industrializing, less developed, and developing economies (Raafat, 2005). Further, South-South trade provides opportunities to develop mutually beneficial international trade relationships where the terms of trade are less likely to be skewed in favor of more powerful economies that tend to take much more than they give in trade agreements with newly industrializing, less developed, and developing economies (Subramanian, 2003).

One newly industrializing country that is pursuing policies designed to increase and enhance South-South international trade is India. This report examines international trade between India and Africa. Data are presented on bilateral trade between India and specific African countries.

International Trade between India and Specific African Countries

India has developed policies designed to increase and enhance its international trade with 54 African countries (Department of Commerce, Government of India, 2005). In this relatively short review, it is not feasible to examine in detail the international trade between India and all of these countries. Therefore, most of the data presented concern international trade between India and selected African countries among the 54.

During the 2003-2005 fiscal year the value of Indian exports to Africa was US$3.8 billion, an increase of 21....

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International Trade Between India & Africa. (1969, December 31). In LotsofEssays.com. Retrieved 10:53, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1696493.html