Bilateral Trade of India with Middle East Countries : A Study of Iran
Journal Title: JOURNAL OF COMMERCE AND TRADE - Year 2016, Vol 11, Issue 1
Abstract
From the recent past, it has been seen that the structure of international trade is made simple & smoothening. India is having a good political, cultural & economic relationship with Iran. Iranian oil is very popular in India while the cereals & other food materials are popular in Iran. The need of present hour is to build stronger trade relation with Middle East nations, among them Iran is an important country. From the study it has been found that the trade balance is negative for India in the recent past. The share of total export to Iran is also very low. Hence, policies should be made to encourage this trade between the two nations. Oil is the chief commodity imported due to its natural superiority. An alternative use for oil must be developed to decrease the use of oil in the nation. Better export of arts & artifacts must be done to improve the quantity of export from India. Political relation must be made stronger to enhance the trading between the nations. Providing better environment to the exporters through subsidies, financial & technical assistance, etc. to enhance the total growth of export will be a better option.
Authors and Affiliations
Anuj Gupta, Ravi Kumar
Keywords
Related Articles
- EP ID EP244527
- DOI -
- Views 116
- Downloads 0
Renewable Energy-Solar Power in India
Renewable energy is basically the energy that comes from natural sources such as wind, sunlight, tides, rain, and geothermal heat. Generally renewable energy projects are used on a large scale, however, this does not mea...
Indian Unemployment Conundrum Natural Factors Endowments Puzzle
India’s GDP growth has recovered fast from the global crisis, nonetheless very little is reliably known on whether it has generated adequate employment opportunities or has remained jobless in nature. The rate of unemplo...
Integration & Impact of Information Technology on Indian Economy
India occupies a major place in list of developing countries and is expected to have basic capabilities to compete with world economies. Before 1991, India adopted policy of self-reliance but in this era of LPG, India’s...
Factors Involved in Success of Poultry Business in Selected Areas of Tamilnadu
The poultry industry provides a good employment opportunity for both males and females along with agricultural activities. The poultry industries were involved with live stock, which is monitored around the clock and the...
Post Reforms Growth of India’s Foreign Trade
This paper is based on the growth and structure of India’s foreign trade since 1991. India’s trade has increased significantly in the post reform period. In absolute terms, the trade volume rose from US $ 42.2 billion ($...