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Arthshastra Indian Journal of Economics & Research

ISSN: 2278-1811 Frequency: Quarterly Peer Review: Double-blind Published since: 2012 Language: English
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Services Trade : India’s Contribution to Regional Trading Arrangements Amidst COVID-19

Open Access Original Article

Services Trade : India’s Contribution to Regional Trading Arrangements Amidst COVID-19

Shirley D’silva1

1 Mumbai School of Economics and Public Policy (MSEPP), formerly known as the Department of Economics, University of Mumbai, Kalina, Santacruz-East, Mumbai - 400 098, Maharashtra

Volume 11
Issue 1
Pages 24–36
Year 2022
Published: Jan. 1, 2022
Abstract

The services trade has gained momentum in the recent past. Previously considered non-tradable, with the implementation of trade policies that cater to the liberalization of services, this sector has evolved to be one of the most dynamic sectors in the world. However, very little attention has been paid to assess the services trade contributions of a developing economy like India to regional trading arrangements. This study attempted to bridge this gap with the help of secondary data on services trade. It analyzed India’s services trade contributions to South Asian Association for Regional Cooperation (SAARC), Asia-Pacific Trade Agreement (APTA), and Brazil, Russia, India, China, and South Africa (BRICS), especially before and during the pandemic, and the results showed that the country made significant contributions both globally and regionally. Although a decline could be seen in India’s contributions in the global sphere due to the immediate shock of the COVID-19 pandemic, the country’s services trade was still increasing at the regional level. Throughout 2011 – 2020, almost 80 – 90% of the contributions within SAARC were attributable to India. Similar was the case with APTA and BRICS, where India secured the second position, closely following China.

Keywords services trade regional trading arrangements economic integration India COVID-19
How to Cite

Shirley D’silva (2022). Services Trade : India’s Contribution to Regional Trading Arrangements Amidst COVID-19. Arthshastra Indian Journal of Economics & Research, 11(1), 24–36. https://doi.org/10.17010/aijer/2022/v11i1/169677

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