Agriculture Trade Linkages of India with the BIMSTEC Region
DOWNLOADJuly 10, 2024
The report, Agriculture Trade Linkages of India with the BIMSTEC Region, examines the agricultural trade dynamics between India and BIMSTEC member nations. It outlines the macroeconomic growth of the BIMSTEC region, driven by increased agricultural trade, and highlights how trade liberalization has improved resource allocation and production capacities.
The study identifies several barriers to enhanced trade, such as tariff and non-tariff barriers, as well as the challenges of poor infrastructure and fiscal constraints. India, as the dominant economy in the region, plays a central role in agricultural exports and imports, particularly in the fats, oils, and fruits sectors. The report underscores the need for trade facilitation measures like harmonized standards and the reduction of barriers to unlock the full potential of agricultural trade in the region.
The report concludes with recommendations for improving regional trade, such as strengthening agricultural machinery markets and promoting mutual recognition agreements (MRAs) to support intra-regional trade and cooperation. It emphasizes that targeted policies and infrastructure development will be essential to enhance agricultural trade competitiveness in the BIMSTEC region.