Effect of Opening-Up of Indian Economy on Indo-Southern African Trade

Effect of Opening-Up of Indian Economy on Indo-Southern African TradeSHRI PRAKASH1, SONIA ANAND DHIR2 1. Former Professor of Eminence, Birla Institute of Management Technology, Greater Noida. e mail : shri.prakash@bimtech.ac.in2.Assistant Professor, IMS Noida, Sector – 62, Noida. e mail : soniadhir01@gmail.com Abstract Adoption of NEP in 1990-91 was designed primarily to replace slowly growing closed Indian economy by rapidly growing open economy. The study determines the degree of openness of Indian economy and the profile of time path traversed towards this goal under NEP. The opening up of the closed economy is expected to have resulted in changes in magnitude, direction and composition of trade. So, the research question is ‘has the quantum and structure of trade with traditional partners and new partners, if any, changed under NEP? The paper focuses only on Indo-Southern African trade since 1990-91. Rationale of this choice is that both Indian and some Southern African Economies are emerging market economies and these two have close relations for long. Statistical and Econometric models have been used for data analysis to furnish answers to the research question. The major findings of the study indicate that Southern African countries have emerged as new trade partners of India and highlight the need for greater policy focus in case of these new trade partners of India towards enhancing trade by exploring new opportunities.JEL code: F14 Contact info: Dr Shri Prakash : 91- 7840809072, Dr (Prof.) Sonia Anand Dhir : 91-9999693216 Key-Words : Indo African trade, NEP, Emerging Market Economies, Exports

Keywords:

Indo African trade, NEP Emerging Market Economies, Export,

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