AN ECONOMIC ANALYSIS OF INDIA’S SPICES EXPORTS
Keywords:Economic Analysis, Spices Exports, Multiple Regression Model.
The Spices is one of the key sectors of the Indian economy. It is the economically and commercially significant agriculture crops in the world. Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. Traditionally, spices in India have been grown in small land holdings, with organic farming gaining prominence in recent times. The following objectives are made of the present study. (i) To analyze the trends and growth rate of spices exports in India during 1991-92 to 2016-17. (ii) To examine the impact of liberalization on spices exports in India. (iii) To identify the determinants of spices exports in India. The study was mainly based on secondary data on various aspects of determinants of spices exports in India. Secondary data and information have been collected from various sources like Journals Directorate General of Commercial Intelligence and Statistics (DGCI&S), World Trade Organization Trade Statistics, Hand Book of statistics on Indian Economy, Reserve Bank of India (RBI), United Nations Trade Data, Commodity Trade Statistics, World Bank database, Spices Board of India. The data were analyzed using descriptive statistics such as tables, percentages, Annual average growth rate. Similarly, an attempt is made in this part to present collected data through line graph, bar diagram etc. Linear Model has been applied to analyze the trends and growth rate of spices exports in India. Semi Log Model and Compound Growth Rate has been applied examine the impact of liberalization on spices exports in India. Multiple Regression Model is also used to get an idea about the determinants of spices export in demand side and supply side during the study period.