study in detail the SAARC and its impact on indian economy
Answers
The South Asian Association for Regional Cooperation (SAARC) is regional intergovernmental organization and geopoliticalunion in South Asia. Its member states include Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka. SAARC compromises 3% of the world's area, 21% of the world's population and 9.12% of the global economy, as of 2015.
SAARC was founded in Dhaka in 1985. Its secretariat is based in Kathmandu. The organization promotes development economics and regional integration. It launched the South Asian Free Trade Area in 2006. SAARC maintains permanent diplomatic relations at the UN as an observer and has developed links with multilateral entities, including the EU. However, the organization continues to face many challenges. Disputes between nuclear rivals India and Pakistan have often clouded the union's potential and progress.
India has always been a key player in the subcontinent politics.
SAARC gives nations of this region a platform to pool their bargaining power at international forums.
It also promotes regional trade and peace.
SAARC is very important to india both economically and politically.