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Latency and Economic Concert of India’s Trade with Russia: An Empirical Investigation

Wani, Nassir Ul Haq (2020): Latency and Economic Concert of India’s Trade with Russia: An Empirical Investigation.

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Abstract

This article focuses on Indo-Russia trade relations and evaluates the economic performance of trade in terms of symmetry, complementarity, intensity and similarity and future prospects for Indo-Russia trade relation and the change in the economic scenario over a 24-year period from 1995 to 2018. The article attempted to evaluate Indo-Russia trade using Thiel’s symmetry criteria, trade complementarity index (TCI), and export similarity index (ESI) analysis in exports and imports in different types of goods categorized on the basis of their production. In terms of symmetry, trade is increasingly asymmetric for Russia-India and is much more visible during 1995 as compared to 2018. Moreover, the declining complementarity trend (in 2010 and 2018) is a result of production specialization. Regarding the export similarity of India against Russia, India enjoys a competitive edge in the basic agricultural Commodities. During 2005-2010, the trend reversed as India’s exports were getting much more specialized and back in 2015 the trend of similarity remained in India’s favor.

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