Dynamics and Determinants of Trade Exchange Between the European Union and India

• Autorzy: Grzegorz Bywalec
• Języki publikacji: EN

Abstrakty

EN

Purpose - This article attempts to identify and assess trade exchange between the European Union and India, including an indication of the main determinants of the process. Research method - Descriptive analysis based on numerical data from various statistical sources together with a review of specialist literature. Results - Trade exchange between the EU and India is particularly important for India. Exports to the EU account for around 17-20% of Indian exports in total. On the other hand, the EU's share in Indian imports amounts to 10-12% of all imported goods. Trade with India looks different from the EU side. India's share in both exports and imports presents a margin for EU trade in goods of 2-3%. The share of services in the trade between the EU and India is high. It accounts for 25-30% of mutual turnover. These are usually modern services based on the offshoring principles, such as IT, business, transport, consulting, science, and tourism. Among the European Union Member States, India's main trading partners in goods are Germany, the United Kingdom, Belgium, France, the Netherlands, and Italy. These six countries account for ca. 85% of the EU-India trade exchange. In 2007, negotiations started to create an EU-India Free Trade Area. Due to the large differences in the positions of both parties, these discussions were not finalised and were subsequently suspended in 2013. However, after the reactivation of talks in 2016, there is still a possibility for the creation of an EU-India Free Trade Area of 1.8 billion people. Originality /value / implications /recommendations - At the beginning of the 21 st century, in terms of GDP (according to PPP), the European Union (understood as one economic entity) became the second largest economic power globally (after China), while India advanced to fourth position (after China, the EU and the USA). An analysis of trade exchange between these two economic powers allows for a clearer understanding of the modern global economy, as well as the processes and mechanisms of its functioning. (original abstract)

Słowa kluczowe

EN

Trade exchange; Economic policy; Economic reforms

PL

Wymiana handlowa; Polityka gospodarcza; Reformy gospodarcze

• Czasopismo: Optimum : studia ekonomiczne
• Rocznik: 2020
• Numer: nr 3(101)
• Strony: 123--139

Twórcy

autor

Grzegorz Bywalec

• University of Lodz

Bibliografia

• Bywalec G., 2015, Reformy ekonomiczne i polityczne a rozwój gospodarczy Indii (1991-2012), Wydawnictwo Uniwersytetu Łódzkiego, Łódź.
• Bywalec G., 2011, Rozwój wymiany handlowej oraz bezpośrednich inwestycji między Unią Europejską a Indiami, "Ekonomista", nr 3, s. 431- 445.
• Domżalski S., 2017, Indie w gospodarce światowej. Słoń, który pragnął latać, Wydawnictwo Asian Century Biblioteka Jedwabnego Szlaku, Warszawa.
• Felbermayr G., Mitra D., Aichele R., Gröschl J., 2016, Europe and India: Relaunching a Troubled Trade Relationship, Ifo Forschungsberichte, Leibniz Institute for Economic Research at the University of Munich, Munich, no. 8, https://www.econstor.eu/bitstream/10419/167440/1/ifo-Forschungsberichte-80.pdf [date of entry: 20.02.^2020].
• Gomułka A., 2016, Determinanty rozwoju outsourcingu w Indiach, "Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu", nr 448, s. 118-130, DOI: 10.15611/pn.2016.448.09.
• India. Economic Survey 2012-2013. Statistical Appendix, 2013, Government of India, Ministry of Finance, New Delhi.
• India. Economic Survey 2016-2017. Statistical Appendix, 2017, Government of India, Ministry of Finance, New Delhi.
• India. Economic Survey 2019-2020. Statistical Appendix, 2020, Government of India, Ministry of Finance, New Delhi.
• Majumdar S.K., 2012, India's Late, Late Industrial Revolution. Democratizing Entrepreneurship, Cambridge University Press, Cambridge-New York.
• Pant H.V, 2016, Indian foreign policy. An overview, Manchester University Press, Manchester.
• Sing A.P., 2014, Peformance of Foreign Trade in India in the Post Liberalisation Era, "International Journal of Humanities Social Sciences and Education", vol. 1(10), pp. 11- 17.
• Trade and Development Report 2019, 2019, United Nations, Geneva.
• Wróbel A., 2013, Rola sektora usług w tworzeniu gospodarki opartej na wiedzy w Indiach, "Prace Komisji Geografii Przemysłu Polskiego Towarzystwa Geograficznego", t. 21, s. 332-347.
• www 1, Countries and Regions-European Commission, 2019, https://ec.europa.eu/trade/policy/countries-and-regions/ [date of entry: 18.12.2019].
• www 2, European Union. Trade in goods with India, 2019, European Commission. Trade.Countries and regions, https://webgate.ec.europa.eu/isdb_results/factsheets/ country/details_india_en.pdf/ [date of entry: 22.01.2020].
• www 3, Government of India, 2020, Ministry of Comerce &Industry, https://commerce-app.gov.in/eidb/default.asp [date of entry: 17.01.2020].
• www 4, Ministry of Comerce and Industry Government of India, 2020, Year WiseServices Trade data Financial Year 2016-17-2018-2019, https://www.indiaservices.in/Service-Trade-Data [date of entry: 21.02, 2020].
• www 5, The World Bank, 2019, GDP, PPP https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD [date of entry: 19.01.2020].
• www 6, The World Bank, 2019, Goods exports https://data.worldbank.org/indicator/BX.GSR.MRCH.CD [date of entry: 23.01.2020].
• www 7, The World Bank, 2019, Service Exports https://data.worldbank.org/ indicator/BX.GSR.NFSV.CD [date of entry: 26.01.2020].
• www 8, The World Bank, 2019, Exports of goods and services, https://data.worldbank.org/indicator/NE.EXP.GNFS.ZS [date of entry: 12.01.2020].
• www 9, The World Bank, 2019, GDP Growth, https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG? end=2018&locations=IN&start=1990 [date of entry: 21.01.2020].

Identyfikatory

DOI

10.15290/oes.2020.03.101.10