Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / The untapped potential of Saarc trade
BackBack

The untapped potential of Saarc trade

India's trade with neighbours has lagged behind its trade with the rest of the world

Prime Minister Narendra Modi signs a paper as he takes charge of the prime minister’s office (PMO) at South Block in New Delhi on Tuesday. Photo: Reuters Premium
Prime Minister Narendra Modi signs a paper as he takes charge of the prime minister’s office (PMO) at South Block in New Delhi on Tuesday. Photo: Reuters

Narendra Modi’s invitation to leaders of neighbouring countries for his swearing-in ceremony could pave the way for better relations. If ties improve, one clear beneficiary will be regional trade. Over the past decade, India’s trade with South Asian Association of Regional Cooperation (Saarc) nations has lagged behind its trade with the rest of the world, commerce ministry data show.

When India helped set up Saarc in 1985, it was expected to boost trade in the region. But the grouping has failed to live up to its promise. While India’s trade with members of the Association of South East Asian Nations (Asean) grew at an above-average pace over the past decade, the growth in trade with Saarc grew at a below-average pace compared with the rest of the world.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 27 May 2014, 02:03 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App