Sustainable Trade Partnerships: Comparing India's Economic Integration with BIMSTEC, ASEAN, and SAARC towards Achieving the SDGs
Year: 2025
Type: article
Abstract: Objective: This study examines India's economic integration with the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), comparing it with its integration with the Association of Southeast Asian Nations (ASEAN) and the South Asian Association for Regional Cooperation (SAARC). The objectives are to identify the relationship between India's trade with BIMSTEC nations and to analyze trade trends within the bloc. Theoretical Framework: The theoretical framework aligns with the United Nations' Sustainable Development Goals (SDGs), focusing on sustainable development through economic, social, and environmental cooperation. Method: The study employs secondary data sources, including government reports and journals, and uses formulas to calculate total trade, trade balance, and share in total trade of Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. Results and Discussion: Results indicate that India maintains a significant trade surplus with BIMSTEC nations, particularly Bangladesh and Nepal, and that BIMSTEC offers a more vibrant platform for economic cooperation compared to SAARC and ASEAN. The research highlights the potential for BIMSTEC to contribute to regional prosperity and global sustainable development efforts. Research Implications: Implications suggest that strengthening BIMSTEC could enhance India's economic growth and support the SDGs. Originality: The study's originality lies in its comprehensive comparison and its focus on sustainable development within regional trade blocs.
Author: Umar Yusuf
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4410413381