From Silk Roads to Economic Corridors: India's Trade Legacy Unveiled

India's trade history is revealed, including how it could trade with every nation from the Silk Roads to the Economic Corridors.

• Modes of Transportation
• Numerous Historical Routes 

As is well known, a nation's imports andexports are crucial to its economic development. A nation's ability to manage its trade relations is aided by a number of factors, including trade agreements, theWorld Trade Organization, and multinational corporations.

However, the issue of how a nation can link to the outside world and effectively ship its commodities to outside markets,

Trading has a long and rich history in India, going back thousands of years. Throughout history, India has been a significant global trading hub, drawing traders from all over the world.

For international trade, there are a few different modes of transportation: 

a) Maritime Transportation 

 primarily using cargo ships to transport huge amounts of products and bulk materials.

b) Aviation 

utilizing cargo aircraft for the quick delivery of valuable or urgent items.

c) Road Transportation 

Trucks are primarily utilized for short-distance freight transportation.

d) Rail Transportation 

Goods are transported via trains, 

particularly on overland routes.

e) Intermodal Transportation

This is a blend of several modes of transportation, including trucks, trains, and ships.

f) Pipeline Transportation

Natural gas and oil are transported via pipelines. 

All of the aforementioned means of transportation are significant, but the most crucial factor is determining the best route to travel in order to deliver the products on time.

India has signed Free Trade Agreements (FTAs) with various countries/regions namely, Japan, South Korea, countries of ASEAN region and countries of South Asian Association for Regional Cooperation (SAARC)Mauritius, United Arab Emirates, Australia. In the past ten years, India's exports of goods to each of these nations or regions have increased.

However, the primary concern is which path to take to make India easily connected to the rest of the world, so that we can easily deliver our product to any country in the world.

There are numerous historical routes that link India to the rest of the world. These routes involve air, sea, and land transportation, and some are established by institutions and some by private individuals.

1. i) Silk Road: The Silk Road has a long and illustrious history that peaked in the Roman Empire and the Han Dynasty in China (206 BCE–220 CE).

   In the modern era, the term "silk road" refers to a metaphorically various trade and culture exchange initiatives, including China's Belt and Road initiatives. The term "silk road" originally refers to an ancient network that connected the east and west for trade and culture exchanges of silk and other goods.

1. ii) Trans-Saharan Trade Routes: An ancient network of trade routes known as the Trans-Saharan Trade Routes connected sub-Saharan Africa and North Africa by crossing the Sahara Desert. These routes were essential in enabling the flow of goods and ideas across the vast and difficult Sahara Desert as well as trade and cultural exchange.

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4. iii) Maritime Routes (Age of Exploration): European powers set out on maritime expeditions to explore, trade, and found colonies abroad during the Age of Exploration (15th to 17th centuries). These maritime routes were essential in reshaping global trade patterns and connecting various parts of the world.

1. iv) Panama Canal: By connecting the Atlantic and Pacific oceans with the strategically important Panama Canal, ships can move between them without having to go around South America's southernmost point.

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2. v) Suez Canal: An essential artificial canal that links the Red Sea and the Mediterranean Sea is the Suez Canal, which offers a vital detour for maritime trade between Europe and Asia.

The countries are searching for new ways to connect with each other for trade and economic growth as global relations and time change.

To improve connectivity, trade, and economic cooperation, a number of nations and regions have implemented or suggested the creation of infrastructure projects, including economic corridors. Here are some instances:

1. i) China's Belt and Road Initiative (BRI):

2. The Chinese government launched the massive Belt and Road Initiative in 2013, with the goal of improving investment and trade between nations, particularly those in Asia, Europe, and Africa. The 21st-century Maritime Silk Road and the Silk Road Economic Belt comprise the BRI.

3. Over 60% of the world's population and one-third of global trade and GDP are included in the Belt and Road Initiative.

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6. ii) China-Pakistan Economic Corridor (CPEC): As part of China's Belt and Road Initiatives, the China-Pakistan Corridor was formally launched in April 2015 with the goal of strengthening economic ties between China and Pakistan by promoting investment and connectivity.

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2. iii) North-South Transport Corridor (NSTC): A multimodal trade route called the North-South Transport Corridor (NSTC) seeks to link Russia, India, and Iran with other nations in the region. It is intended to offer a quicker and more effective route for shipping cargo than the conventional sea routes. Since its initial proposal in the early 2000s, the corridor project has gained momentum as a means of improving connectivity and facilitating trade and transit between Europe, Iran, and South Asia.

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2. iv) East African Community (EAC) Infrastructure Projects: Six East African nations—Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda—make up the East African Community (EAC), a regional intergovernmental organization. The goal of the EAC is to encourage cooperation and economic integration among its member nations.

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4. v) ASEAN Connectivity: The member states of the Association of Southeast Asian Nations (ASEAN) have adopted the ASEAN Connectivity strategic framework to improve institutional, physical, and people-to-people connectivity within the region. Ten nations make up ASEAN: the Philippines, Singapore, Thailand, Vietnam, Laos, Malaysia, Myanmar, Brunei, and Cambodia. Promoting regional integration, social advancement, and economic growth are the objectives of ASEAN Connectivity.

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6. vi) India-Myanmar-Thailand Trilateral Highway: A significant regional infrastructure project, the India-Myanmar-Thailand Trilateral Highway aims to improve connectivity and promote trade and economic cooperation among the three nations. The highway is a component of India's "Look East" and "Act East" policies, which aim to strengthen ties with Southeast Asian nations.

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9. vii) New Eurasian Land Bridge: The idea behind the New Eurasian Land Bridge is to connect and improve the transportation network across Eurasia through a series of infrastructure projects. It is a component of larger initiatives to improve connectivity, trade, and economic cooperation between Europe and Asia. The land bridge connects the extensive road and rail networks that enable the flow of people and products across the Eurasian continent.

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12. viii) India-Middle East-Europe Economic Corridor(IMEC):

14. Though there had been some discussion, formal agreements and specific details regarding the India-Middle East-Europe Economic Corridor (IMEC) were still in the early stages. In order to improve connectivity and economic cooperation between India, the Middle East, and Europe, the IMEC is intended to serve as a strategic economic corridor. Even before the complex land, sea, and railroad corridor details have been fully developed, the IMEC currently appears to be off course. The wider process of normalization between Israel and many Arab countries will be impacted by the Israel-Palestine conflict.

After going over the previous point—what is a transportation method—what routes were taken by ancient India and its neighbors, and what strategy does India have to expand its market share globally? India is a manufacturing hub, a country with a large population, more consumers, and inexpensive labor. I hope this article clarifies the trade routes and global market reach for you all. In 2027 (FY28 for India), the Indian economy is expected to surpass both Japan and Germany to take the third spot in terms of size.