ABSTRACT
Recent global events have drawn considerable attention to the growth of emerging economies, particularly among INSTC member nations. Over the past 15 year or so, the INSTC countries’ international trade flows have dramatically increased. This chapter looks at the trade flows between India and INSTC. The Trade Intensity Index is used for the years 2003 to 2022 to analyse the level of trade between INSTC nations and India. The results of the trade intensity study revealed significant bilateral trade flows between INSTC members. It has been investigated that the export structure based on comparative advantage for India and INSTC Caspian countries. The results showed that India has a comparative advantage in distinct products than the INSTC countries. Among the Caspian countries, Azerbaijan currently offers the most significant scope for improving India’s export with very low trade intensity. Conversely, India’s trade intensity with Iran was vigorous and could be further strengthened by diversifying the export basket. Furthermore, India’s trade intensity index values were modest for Kazakhstan, Russia and Turkmenistan, presenting the need for policy intervention. To acquire a comprehensive understanding of India−INSTC commerce, however, there are few researches accessible. This chapter makes an effort to look at the trade profile of the INSTC countries both globally and within the group.
