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

Wani, Nassir Ul Haq (2019): Latency and Economic Concert of India’s Trade with Russia: An Empirical Investigation. Published in: Kardan Journal of Economics and Management Sciences , Vol. 4, No. 1 (25 June 2021): pp. 22-34.

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 a different type 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.

• Item Type: MPRA Paper
• Language: English
• Keywords: India; Russia; exports; imports; symmetry
• Subjects: F - International Economics > F1 - Trade > F13 - Trade Policy ; International Trade Organizations; F - International Economics > F1 - Trade > F15 - Economic Integration; F - International Economics > F1 - Trade > F19 - Other

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