The Impacts of Trade Protectionism on the Indian Economy
Those authors contributed equally.
- 10.2991/assehr.k.211209.195How to use a DOI?
- Trade protectionism; India; OLS regression model
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.
- © 2021 The Authors. Published by Atlantis Press International B.V.
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Cite this article
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 -