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Tuesday, 05 August 2014 14:35

Intra-BRICS Trade and Its Implications for India

Written by Bipul Chatterjee, Surendar Singh and Purna Chandra Jena

The recently held Sixth Summit of the BRICS grouping of countries has rightly emphasised the role of intra-BRICS trade for furthering their economic cooperation.

Keeping in mind the Fortaleza Declaration, CUTS International has published a Discussion Paper titled 'Intra-BRICS Trade & Its Implications for India'. This Discussion Paper, using a series of analytical tools, illustrates the trends in trade and competitiveness between the BRICS countries as well as its implications for India.

Tellingly, the results indicate a complementarity in export and import products with low levels of competition, which can provide opportunities for enhanced intra-BRICS trade.

Download the paper Intra-BRICS Trade & Its Implications for India [1MB].

A greater openness between the BRICS countries has the potential to yield gains for all five of the member countries. Specifically for India, which showed a comparative advantage in certain products, it should re-orient its Focused Market and Focused Product initiatives in light of its ‘new trade policy’, which is expected to be announced in August 2014, to ensure greater and closer trade with its fellow BRICS members.

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