Indian ocean trade dynamics: Implications for economic advancement in the south Asian region

Abstract

This paper examines the complexities and possibilities of engaging in trade in the Indian Ocean within the South Asian context. This study will examine the historical context of Indian Ocean trade, clarifying the diverse historical, geopolitical, and ethnic factors that influence the region. The analysis will discuss the development of the Indian economy via regional and transregional trade networks inherently connected to the Indian Ocean. Additionally, it will offer a succinct analysis of current security issues in the Indian Ocean Region (IOR) and outline the economic framework of South Asia. The paper will examine the evolution of financial relationships in the region, evaluate the dual function of the environment-comprising both environmental hazards and its economic importance-and conclude with a call for the strengthening of cultural and ethnic bonds as essential components in promoting regional integration via Indian Ocean trade.