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INDIA'S ROLE IN SAARC

SAARC was founded by the Dhaka declaration of 1985 as a regional grouping of seven South Asian developing countries viz, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri  Lanka. After successful establishment of SAARC as an association for  political affairs, all the seven countries literally agreed to form a regional block for economic activities. That dream came to realize ultimately when SAPTA was founded on 11th day of April 1993. The main aim of the present study is to analyse India's foreign trade with SAARC countries individually and with the region (which is consortium of less developing countries) as a whole under SAPTA agreement and to investigate the changes before and after the formation of SAPTA. This study on the changes in India's foreign trade from 1991-92 to 1999-2000 is expected to be useful in evolving suitable policy prescriptions that would lead to improving the trade with SAARC countries and thereby improving the country's balance of payments position. India sure does play a leading role in SAARC not only this but the combined economy of SAARC is the 3rd largest in the world in the terms of GDP (PPP).

Also, SAARC nations comprise comprise 3% of the world's area contain 21% (around 1.7 billion) of the world's total population. India makes up over 70% of the area and population among these eight nations.

And this, during 2005-10 the average GDP growth rate of SAARC stood at animpressive 8.8% p.a.., but it slowed to 6.5% in 2011 largely because of economic slowdown in India, which accounts for 80% of SAARC's economy.

India is SAARC's biggest, strongest and advanced member which gives out its technologies and experts to other SAARC members to train/get their own. SAARC members also perform excessive with each other which benefits all.

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