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Title: A Study on the Trend Analysis of India’s Trade Relations with SAFTA Nations: A Review

Abstract: Countries participating in a regional trading arrangement (RTA) are typically heterogeneous, as evidenced by their variations in geographic size, population, gross national product (GNP), economic systems—reflected in the various types of commodities and services manufactured when traded — and the policy instruments employed through monetary, financial, and trade-related measures that affect national production and trade activities. The diverse attributes of the South Asian Free Trade Area (SAFTA) members significantly impact their benefits from a Regional Trade Agreement (RTA). The South Asian nations within the SAFTA distinctly illustrate their intrinsic disparities while also highlighting an unsettling situation about the inequitable distribution of prospective benefits from through regional collaboration initiative. Although the members of SAFTA members have low-income and the nations are developing, among these —Bhutan, Bangladesh, Nepal and Maldives, —are classified as least developed countries (LDCs) due to many significant challenges that impede their business expansion and development. Thus, the extent to which these issues may impact the SAFTA agreement and the measures India must implement is a crucial inquiry, which serves as the primary purpose of this article. This research also considers the influence among the SAARC members. Analysis of data from several pertinent sources covering the period from 2016-17 to 2022-23 reveals that commerce among SAFTA members has not expanded as considerably as anticipated. The statistical analysis conducted validates the suspicions of numerous scholars, indicating that the SAFTA countries are not genuine trading partners; instead, they frequently compete by exporting identical product categories. Given that this context renders significant growth in mutual trade improbable, the paper finishes with views on enhancing India's regional commerce.

By Manish Upretya, Pankaj Kumar Shah
In Volume: 14,Issue: 1
Title: Islamic Banking in Bangladesh: A Case Study of FSIBL and Implications for Indian Islamic Banking Prospects and Societal Banking

Abstract: Islamic banking is reshaping Bangladesh’s financial landscape by offering a Sharia-compliant alternative to conventional banking, particularly through innovative community-driven micro-savings and micro-investment models. This qualitative study analyzes First Security Islami Bank Limited (FSIBL), Bangladesh’s first full-fledged Islamic bank (est. 1999), to draw insights for India’s emerging Islamic banking sector. FSIBL’s success in applying profit-loss sharing (PLS) models—such as Mudarabah-based micro-savings pools converted into agricultural investments and Bai-mode financing for SMEs—alongside mobile banking-enabled societal banking initiatives, demonstrates how Islamic finance can bridge financial inclusion gaps in developing economies. The bank’s CSR-linked community investment programs, which transform small deposits into Waqf-funded local projects, offer a replicable template for India. However, recent governance lapses and liquidity crunches highlight systemic risks in scaling these models without robust safeguards. The study addresses two questions: (1) How does FSIBL’s integration of microfinance with Islamic principles validate its viability in emerging markets? (2) What lessons can India adopt to leverage societal banking wings for grassroots capital formation while avoiding governance pitfalls? Findings reveal that participatory micro-investment frameworks require three pillars: strong Sharia governance (e.g., community oversight committees), depositor protection mechanisms (e.g., taka ful-backed micro-savings), and adaptive asset-liability management (e.g., blockchain-tracked PLS ventures). By examining FSIBL’s journey, the paper proposes actionable strategies for India to harness Islamic banking’s dual social-commercial mandate, advocating for regulatory sandboxes to pilot community savings-to-investment chains and tax-neutrality for micro-investment products. The study concludes that India’s vast SHG networks and digital infrastructure position it to outperform Bangladesh’s model—if integrated with ethical resilience and operational transparency.

By Abu Sayed, Nabila Aktia Chowdhury
In Volume: 14,Issue: 1
Title: The Impact of Pawnbroking on Local Communities with special reference to Bangladesh

Abstract: This study examines pawnbroking's impact on social entrepreneurship and its implications for social development. It posits that Pawnbroking aids vulnerable entrepreneurs, often excluded from formal credit, in accessing quick financial resources, thereby enhancing social entrepreneurship. Through a meta-analysis and literature review, including three case studies from Bangladesh, the findings indicate that, despite exploitative practices, pawnshops are vital for providing the impoverished with financial access and supporting social welfare. However, risks such as asset loss, debt cycles, and exploitation of desperate borrowers are also highlighted. The study emphasizes the need for regulatory oversight and more accessible financial systems that protect borrowers while maintaining accessibility. Overall, pawnbroking offers both advantages and challenges for local communities in Bangladesh, necessitating a balance between quick cash access and consumer protections to promote healthier community dynamics.

By José G. Vargas-Hernández, Amina Khatun, Csongor Czipf, Absalón J. Salmerón-Zapata
In Volume: 14,Issue: 1
Title: Impacts of Covid-19 Pandemic on Indian Sugar Industry: Challenges, Disruptions and Recovery Pathways

Abstract: The COVID-19 pandemic, which began as a global health crisis, quickly escalated into a far-reaching economic disruption, significantly impacting industries across the world. The Indian sugar industry—one of the country’s most critical agro-based sectors—was no exception. As a key contributor to rural livelihoods, employment, and the national economy, the industry found itself grappling with unprecedented challenges across its entire value chain. The impact was observed from the very first stage of sugarcane cultivation, which faced labor shortages and transportation issues, to the subsequent phases of processing and manufacturing, which suffered from reduced mill capacities and supply chain constraints. Ethanol production, a major revenue source through the Ethanol Blended Petrol (EBP) programme, experienced demand fluctuations tied to global oil market volatility. Moreover, marketing and export activities came to a near halt due to domestic lockdowns and international trade restrictions, resulting in inventory surpluses and financial stress across the sector. This study provides a comprehensive analysis of the multifaceted disruptions caused by the pandemic. It highlights the systemic vulnerabilities exposed during the crisis, the operational and financial challenges encountered by stakeholders—ranging from farmers to mill operators—and the mitigating measures undertaken by both the government and industry associations. In addition, the research proposes a strategic recovery roadmap focused on diversification, supply chain resilience, policy adaptability, and long-term sustainability. By exploring these dimensions, the study aims to contribute to the development of a more robust and crisis-resilient Indian sugar industry in the post-pandemic era.

By Atul Kumar
In Volume: 14,Issue: 1
Title: Artificial Intelligence and Employment Shifts in India’s E-Commerce Sector: A Sectoral Post-Covid Analysis

Abstract: The COVID-19 pandemic accelerated digital adoption across sectors, rapidly restructuring Indian e-commerce. AI is a critical enabler of operational efficiency-from planning supply chains to automating customer support. The study attempts to understand post-COVID transformations in AI-related employment trends in various e-commerce subsectors in India. While AI threatens entry-level, routine applications, it creates a demand for professional jobs further involving AI development, data science, and digital operations. The study, thus, employs mixed methods, using secondary data sets and qualitative case studies, to comprehend the sectoral landscape of AI impacts on employment. It attempts to understand the potentials and challenges of AI, drawing on assessment of its socio-economic impact so as to arrive at recommendations on reskilling policies and inclusive employment strategies.

By S.K.S. Yadav, Samreen Khan
In Volume: 14,Issue: 1
Title: An Analytical Study of Impact of Merger and Acquisition on the Financial Performance of Selected Indian Banks

Abstract: This research paper compares pre-merger financial performance of selected public sector banks with that of post-merger financial performance. The financial performance is measured by nine different variables that are business per employee (BPE), profit per employee (PPE), net interest margin (NIM), return on assets (ROA), return on equity (ROE), CASA ratio, capital adequacy ratio (CAD), gross non-performing asset(GNPA) and earning per share (EPS). The research is purely based on data collected from annual reports of selected banks. This data is analyzed by using paired t-test and the two tailed significance value is taken for hypothesis testing. The study found a negative impact of merger on financial performance of State Bank of India. While the financial performance of Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India and Indian Bank more or less improved post-merger. All the banks except SBI showed a better utilization of human resource as the business per employee is increased significantly. Only Union Bank of India showed improvement in profit per employee variable and return one quity. Net interest margin of four banks namely Bank of Baroda, Canara Bank, Punjab National Bank and Union Bank of India improved post-merger. It is observed that overall funding cost benefits that are measured by CASA ratio is seen in State bank of India and Indian Bank. The capital adequacy ratio increased in case of Indian Bank, Punjab National Bank and Union Bank of India. No major benefit of merger is seen on gross NPA except in case of Canara Bank. Earnings per share of all six banks did not show any significant impact of merger.

By Deepak Verma, Manoj Kumar Agarwal
In Volume: 14,Issue: 1

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