The Hindu Business Line : `India's trade with SAARC region up 19%'

INDIA'S trade with SAARC countries has gone up by 19 per cent in dollar terms during the first five months of this fiscal as compared to the same period last year, according to an analysis by PHD Chamber of Commerce and Industry (PHDCCI).

In rupee terms, it has increased by 17 per cent to Rs 10,396 crore. Sri Lanka has emerged as India's largest trading partner in SAARC (South Asian Association for Regional Cooperation). With a growth of 64 per cent in bilateral trade, which stood at Rs 4,304 crore during the period, the island nation has tapped the potential of the Indian economy to its own economic advantage. Bangladesh, which till last year was India's biggest trade partner in the region, is losing out to countries such as Sri Lanka. Ambiguous policies and investment climate in the country have deterred Indian firms from deepening their ties with Bangladesh. The country accounted for 41 per cent of India's total exports to SAARC countries in 2003-04. But in the first five months of this fiscal, it has come down to 30 per cent.

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