Amlan Ray, Akash Doifode, None Badri Narayanan G, None Deepika M. G.
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引用次数: 0
Abstract
The Regional Comprehensive Economic Partnership (RCEP) agreement was concluded in the year 2020 between ASEAN and its five free trade agreement (FTA) partners excluding India, which was a part of the negotiation since its inception. RCEP remains important for India considering its volume of trade with member countries and FTAs it has with various members of the group. During signing of RCEP, India had FTAs with 12 members except China, Australia and New Zealand. Later, India signed an interim FTA with Australia in April 2022, followed by an Economic Cooperation and Trade Agreement in December 2022. The trade potential India has with these countries will be of interest to the policymakers for influencing its future direction of trade. India’s trade potential with Australia, China and New Zealand with whom it did not have an FTA till the signing of RCEP is important from the perspective of entering into bilateral trade agreements. In this article, the gravity model is used to measure India’s potential trade with RCEP as a block and individually with China, Australia and New Zealand. Here, a high-dimensional fixed effect Poisson pseudo-maximum likelihood model is used for measuring potential trade. A comparison of potential trade with the actual shows that India has more potential for expansion of exports than imports with RCEP as a block and in particular with China, Australia and New Zealand.
期刊介绍:
Vision-The Journal of Business Perspective is a quarterly peer-reviewed journal of the Management Development Institute, Gurgaon, India published by SAGE Publications. This journal contains papers in all functional areas of management, including economic and business environment. The journal is premised on creating influence on the academic as well as corporate thinkers. Vision-The Journal of Business Perspective is published in March, June, September and December every year. Its targeted readers are researchers, academics involved in research, and corporates with excellent professional backgrounds from India and other parts of the globe. Its contents have been often used as supportive course materials by the academics and corporate professionals. The journal has been providing opportunity for discussion and exchange of ideas across the widest spectrum of scholarly opinions to promote theoretical, empirical and comparative research on problems confronting the business world. Most of the contributors to this journal range from the outstanding and the well published to the upcoming young academics and corporate functionaries. The journal publishes theoretical as well as applied research works.