Performance of Indian Agricultural Foreign Trade in Pre and Post Reforms Era An Empirical Investigation

Abstract

Indian agriculture has undergone a remarkable transformation in the second half of the newlinetwentieth century including the 1991 reforms and establishment of WTO. These reforms have newlinecaused agriculture to move in the direction of commercialization and diversification which newlinehas triggered the development and innovations in this sector. Thus, this study focuses on the newlinePerformance of Indian Agricultural Foreign Trade in Pre and Post Reforms Era- An Empirical newlineInvestigation by analyzing trends, structural composition, trading blocs, export newlinecompetitiveness, the direction of trade and terms of trade in the economy s growth from 1980- newline81 to 2019-20 which is divided into two sub-periods i.e., Pre reform (1980-81 to 1990-91) and newlinePost reform (1991-92 to 2019-20) period by employing various statistical techniques. The newlinefindings showed that in the post reform period, the average quantity and value of agricultural newlineexports and imports was highest. The CAGR with respect to quantity and value was highest newlinefor agricultural commodities exports except tea and cashew in post reform period, whereas newlinewith respect to agricultural commodities imports, the CAGR in terms of quantity and value newlinewas highest in post reform period. Among the selected agricultural commodities oil meals and newlinerice, exports had maximum percentage composition during the pre and post reform period, newlinewhilst with respect to imports edible oils and cereals and cereals preparations have maximum newlinepercentage composition during pre and post reform period. During pre and post reform period, newlineamong the entire trading blocs, majorly India exported tea and rice to West Asia, coffee and newlinetobacco to EU and cashew to North America whereas, spices was exported to West Asia in newlinethe pre reform period and EU in the post reform period. In case of EU, during pre reform newlineperiod India exported, tea, rice, tobacco and spices to the UK, whereas, coffee to Germany newlineand cashew to the Netherlands. Whereas, during post reform period, coffee and tobacco to newlineItaly, tea to Poland, rice and spices to UK and cashew to