Performance and Trade Competitiveness of Indian Spices: A Markov Chain Approach
Price: ₹ 500
Author: Manish Sharma, Ram Singh, Anant Bahadur and Malay Marut Sharma
Author Address: Guest Faculty (Agricultural Economics), CHRS, Saja-491993, Mahatma Gandhi University of Horticulture and Forestry (IGKV campus), Durg (Chhattisgarh
Keywords: Export, import, Markov chain, spices, transitional probability matrix.
JEL Codes: P45, Q13, Q17, R11.
Abstract
A study was conducted to examine the growth performance and pattern of spice crop export destinations in India. The growth rate, balance of trade and transitional probability matrix were applied to analyse the study by utilizing the past ten years' data (2013-2022) collected from various national and international sources. The top five exported spices were selected based on their export values in 2021. The findings showed that India secured a huge surplus of ?2118426 lakhs in 2022 with the growth performance of exports (11.66 per cent) and imports (17.65 per cent) in the last ten years. Sri Lanka was the most stable country, with the highest retention capacity (86.12 per cent) for importing pepper. In contrast, China imported cumin and oleoresins (spice oil) with 86.32 and 47.04 per cent, respectively, and Germany imported mint (38.71 per cent) and Bangladesh for turmeric (74.87 per cent) from India. The study recommended that India should formulate a policy with the aim to create favourable trade relations with targeted countries, which would be a fruitful effort for earning foreign exchanges for the nation.
Description
Indian J Econ Dev, 2024, 20(3), 449-456
https://doi.org/10.35716/IJED-23468