A Comparative Analysis on India’s Relation to the SAARC with Reference to Foreign Trade

Economic reforms in early 90s gained an interactions and benefits of opening trade were realized by the pioneer of East Asian Nations, especially the ASEAN nations. South Asian nations also attempted to go with the flow through South Asian Association Regional Cooperation (SAARC). There is total eight nations. Working together to accelerate development is one of the goals of SAARC nations. SAARC also aim for strengthening cooperation with other developing nations and also to cooperate with international and regional organizations with same kind of goals and purposes. Out of the total eight nations, India is playing a significant role in promotion of trade and economic cooperation with SAARC nations. The main aim of this study is to examine the foreign trade of India with the SAARC nations followed by recent Trends of export-Import under the BJP led NDA government during 2014-2024 (current decade) with SAARC nations. India’s export import trend with SAARC countries shows increasing pattern with holding a noteworthy trade surplus with the most members nations such as Bangladesh, Nepal, Sri-Lanka and Pakistan. The study is tried to elaborate how An Export and Import of India have been increasing and changing over a period of time. Indian economy is also considered as a stable and dynamic within the SAARC region with estimated growth rate approximately of 7 percent.