Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)

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The Impacts of Trade Protectionism on the Indian Economy

Authors
Xi Cheng1, *, †, Xinyue Fu2, †, Yuntian Tang3, †, Zuqian Wang4, †
1HKU Business School, University of Hong Kong, Hongkong, 999077, China
2Jinan Foreign Language School, Jinan, 250100, China
3School of Economics, Zhejiang University, Hangzhou, 310058, China
4School of English Studies, Dalian University of Foreign Languages, Dalian,116000, China
†

Those authors contributed equally.

*Corresponding author. Email: u3594197@connect.hku.hk
Corresponding Author
Xi Cheng
Available Online 15 December 2021.
DOI
10.2991/assehr.k.211209.195How to use a DOI?
Keywords
Trade protectionism; India; OLS regression model
Abstract

Since the 1970s, many countries have brought many benefits to their own countries due to the development of globalization. But some typical countries, such as India, began to show some anti-globalization phenomena. So, they put in place relevant policies to protect their national interests. Because of this situation, the theme of our study will focus on how protectionism impacts India. This paper will use quantitative analysis with the ordinary least squares regression model to research the impacts of tariffs on the economy of India. The regression models indicate a positive correlation between tariff and GDP while a weak relationship between GDP and joining a new regional trade agreement. To sum up, this paper indicates that although reducing tariff level to some extent is beneficial for the economic development in India; the country should adopt a variety of protectionism methods appropriately. In addition, with the increasingly developed pharmaceutical industries, the Indian government may open its market again gradually with fewer protectionism policies. And this result focuses not only on several industries but also on the country’s economy. Contribution and limitation will be further discussed in this paper.

Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
15 December 2021
ISBN
10.2991/assehr.k.211209.195
ISSN
2352-5428
DOI
10.2991/assehr.k.211209.195How to use a DOI?
Copyright
© 2021 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

risenwbib
TY  - CONF
AU  - Xi Cheng
AU  - Xinyue Fu
AU  - Yuntian Tang
AU  - Zuqian Wang
PY  - 2021
DA  - 2021/12/15
TI  - The Impacts of Trade Protectionism on the Indian Economy
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 1213
EP  - 1219
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.195
DO  - 10.2991/assehr.k.211209.195
ID  - Cheng2021
ER  -