What is meant by ‘regionalism’? In this context, distinguish between bilateralism and multilateralism

Regionalism refers to the process by which countries in a specific geographic region come together to pursue common economic, political, social, or cultural objectives. This collaboration often involves creating formal frameworks or agreements to foster trade, investment, infrastructure development, or policy coordination within the region. In the context of the Indian economy, regionalism plays a critical role in shaping India’s trade policies, international partnerships, and economic diplomacy as the country seeks to strengthen its position in regional groupings like SAARC, ASEAN, and BRICS.

### Bilateralism  
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