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India-U.K. Trade: A phenomenon of sliding scenario

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Author(s): Dr. S M Shafi

Journal: Australian Journal of Business and Management Research
ISSN 1839-0846

Volume: 1;
Issue: 9;
Start page: 37;
Date: 2011;
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Keywords: India | England | Imports | Exports | CAGR | Commodity Groups | Harmonized System | DGFT.

ABSTRACT
Until 1973 when U.K., was not the member of European Community (now European Union , India’s trade was not geographically as diversified. This was purely due to the reason that India’s Trade was almost exclusively with U.K. Indian merchandise would find other destinations in the European continent only as re-exports from Britishers. India’s trade relations with U.K., are based upon long nourished relationship fostered during British rule in India with British East India Company as its promotor plateform. Based upon mutual trust between the trading communities of the two countries and facilitated with market opportunities, the relationship got further stronger even after India’s independence from Britain. However, with U.K. joining European Union, India’s trade started getting diversified and trade volumes with U.K started showing falling trends. The present paper traces out the behaviour of falling trade scenario with U.K.

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