Question

Explain the meaning of Regional Economic Integrations. Critically evaluate the benefits India
as a developing nation has gained through such integrations.

Answer 1

Answer:

Regional integration helps countries overcome divisions that impede the flow of goods, services, capital, people and ideas. These divisions are a constraint to economic growth, especially in developing countries.

Answer 2

Regional Economic Integrations

Explanation:

• Regional integration aids countries in overcoming barriers to the flow of products, services, capital, people, and ideas across borders.
• Economic progress is hampered by these divisions, particularly in emerging countries.

• Regional economic integration has allowed countries to focus on issues relevant to their stage of development while simultaneously boosting trade between neighbors..

• Regional integration has the potential to generate significant economic benefits.
• Countries would benefit from regional integration in the following ways:
• Increase market efficiency; split the cost of public products or big infrastructure projects;
• Decide on policy in a collaborative manner and have a reform anchor;