Essay on International Trade Between India And Brics Nations
From the above description it can be concluded that in the entire period of trade, India remains in trade deficits, but export and import are increases manifold from 2001 to 2014. In 2011, import has increased sharply as compared to export which leads to high trade deficit. Trends of international trade between India and BRICS are discussed in the next section.
Fig1 shows Trend in international trade between India and BRICS nations during a period 2001-2014 shows that there is an upward trend with a slight growth till 2009. According to the trade database, there was incremental in the trade of manufacturing goods, after 2010 import rate shoot up exponentially and coefficient of growth is around 24 which mean in economic terms that commodities reaches diversification and it is highest in 2011 as compared to other years. Figure Source: ITC calculations based on UN COMTRADE statistics
also shows the export trend between India and BRICS nations and…