Impact of saarc on indian economy project
Answers
Saarc includes 7 nations namely Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Srilanka to create trade bloc and also created platform for South Asian people to work in sprite of trust, friendship and understanding. Sri lanka, Bangladesh and Nepal import goods from India account for 6.6 % of India's total export for financial year 2014-2015. India being the most populated country revitalizes the SAARC as a leading assembly of regional cooperation and economic integration. Opening university, food bank and disaster management probe are some of the steps taken but does nothing to Indian economy.
The campaigns like Make in India and Start-up India can bring a lot of manufacturer to India and creating environment Indians to establish industries. SAARC countries can be at risks if cross border trade and their full liberty is promoted with removal of tariff barriers. Since India is highly populated it has greater demand for products. Hence, India can export great variety of products by using less regulated trade channels and earn foreign exchange. India can become the third largest economy in the world by 2030 if there will be no problem with neighboring countries.