India's trade with SAARC countries: an evaluation

In present era of global liberalisation, every nation is associated with different countries through the way of trade blocs and regional trade agreements. Foreign trade is the way of regional cooperation and every country wants to boost its position through maximization of exports with optimization of import, results in economic development as well as availing the benefits on typical issues of peace, prosperity and social progress through regional cooperation. India also participates in several regional trade agreements and associated with different large trade blocs of the world like EU, EFTA, SAARC, ASEAN etc. and also signed free trade agreements with other countries which are not part of a trade bloc. Regional Cooperation is the spirit of sharing and helping each other in a particular group of countries of a region towards the achievement of the common objectives. These objectives mainly refer to the achievement of economic development, peace, progress and prosperity and on the other hand maintaining the strategic relationship with the big powers of the world. This paper attempts to analyse the export and import situation of India with SAARC nations, India's share in export and import to SAARC nations and their related contribution for trade development.