Bilateral Trade between India and ASEAN: An Analytical Study 1991–2013

The economic reforms of 1991 have changed the whole economic and foreign trade scenario of India towards the world in general and Southeast Asian countries in particular. ASEAN is today a vibrant, dynamic and rapidly growing regional group which is effectively managing its diversity and growth. In the developing world, ASEAN economies have the highest trade to GDP ratio. India has also gained a place of prominence at the global stage. As a result India and ASEAN-the two regional markets-can be combined together to provide a market of huge potential for growth and investment by both domestic and international investors. The objective of this paper is to study statistically the significance of the dependence of Indo-ASEAN trade on each other. Moreover the paper will also focus to study the association between ASEAN total imports and India's exports to ASEAN and to study the association between ASEAN total exports and India's imports from ASEAN. For this purpose the data for the period 1991–2013 has been collected regarding India-ASEAN trade.