Globalisation is dying; India needs sound industrial policy
2 years, 4 months ago

Globalisation is dying; India needs sound industrial policy

Live Mint  

The fairy tale of free market globalization, in which money, goods, and knowledge flow freely around the world unimpeded by national boundaries, which was spun into economics science in the past 40 years, has been exposed for what it was. Writers of the fairy tale of ‘free trade’ are mostly naïve economists who believe politics and power struggles—global as well as domestic—can be stripped out of their economic models. India needs ‘productive’ economic policies to increase domestic manufacturing for the defence of its national sovereignty and resilience in its economic growth. China and India, the two largest ‘emerging’ economies in the world, entered the mainstream of global trade at roughly the same time around 1990, with economies of similar sizes. Therefore, India’s trade policies must be guided by a sound industrial policy, rather than trade policy controlling industry, which has been the paradigm of policymaking since the 1990s’ liberalization of the Indian economy.

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India should have balanced approach to trade with China, says Jaishankar
2 weeks, 4 days ago

India should have balanced approach to trade with China, says Jaishankar

Hindustan Times  

NEW DELHI: India should adopt a balanced approach to business with China due to the troubled political relationship over the past four years and the need to avoid becoming overly dependent on a single supply chain, external affairs minister S. Jaishankar said on Thursday at an event organised by the Associated Chambers of Commerce & Industry of India. Jaishankar cautioned …

India faces high exposure to US trade policy shift
2 weeks, 4 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

Trump’s policies may open new doors for India’s defence sector: Report
Trending News
4 weeks, 1 day ago

Trump’s policies may open new doors for India’s defence sector: Report

Live Mint  

New Delhi, November 25 : The "America First" trade policy promoted by upcoming U.S. President Donald Trump has far-reaching implications for global trade and geopolitics. It said "Indian businesses in sectors such as pharmaceuticals and defense might also find new opportunities, especially if U.S.- India collaboration strengthens. The report said "increased tariffs might prompt retaliatory measures from trade partners, potentially …

India-UK trade talks to focus on key tariff barriers and emerging sectors
1 month ago

India-UK trade talks to focus on key tariff barriers and emerging sectors

Live Mint  

The India-UK free trade agreement talks that are set to resume in early 2025 will focus on a range of critical areas including market access, regulatory frameworks, and tariff barriers. A successful FTA would facilitate increased trade across sectors like technology, agriculture, and manufacturing, while also deepening diplomatic ties, said Abhash Kumar, assistant professor of economics at Delhi University. India …

Non-tariff barriers, regulatory impediments must be addressed: EAM on India-Russia trade
1 month, 1 week ago

Non-tariff barriers, regulatory impediments must be addressed: EAM on India-Russia trade

Hindustan Times  

The imbalance in India-Russia trade needs to be addressed urgently, including steps to remove non-tariff barriers and regulatory impediments and facilitate the settlement of trade in national currencies, external affairs minister S Jaishankar said on Monday. Jaishankar’s remarks, made while addressing the India-Russia Business Forum in Mumbai alongside Russia’s first deputy prime minister Denis Manturov, came against the backdrop of …

India bets on Modi-Trump warmth to navigate choppy future with US
Trending News
1 month, 2 weeks ago

India bets on Modi-Trump warmth to navigate choppy future with US

Al Jazeera  

New Delhi, India — During his campaign for re-election, Donald Trump repeatedly threatened major tariffs on imports from a range of countries. Now, Trump’s “America First” agenda — which aims to offset domestic tax cuts by imposing higher tariffs on imports — could disrupt that relationship. “During the first term, Trump got into this whole ‘protectionist mode’, but upon his …

India poised to gain from Trump’s potential tariff hike on China, says report
1 month, 2 weeks ago

India poised to gain from Trump’s potential tariff hike on China, says report

Live Mint  

Following Donald Trump's victory in the U.S. presidential elections, a report from CareEdge suggests that India could benefit from potential shifts in global trade dynamics if Trump moves forward with plans to impose high tariffs on Chinese imports. Such policies aim to reduce the U.S. dependence on Chinese imports, a move that could disrupt established trade channels and prompt companies …

India could benefit from re-orientation of global supply chain away from China after Trump victory: Report
Trending News
1 month, 2 weeks ago

India could benefit from re-orientation of global supply chain away from China after Trump victory: Report

Op India  

After the victory of the Donald Trump in the US Presidential elections, India could benefit from any re-orientation of the global supply chain away from China says a report from Care Edge As per the report, Trump has proposed imposing high tariffs on imports from China, which could lead to changes in global trade dynamics, creating opportunities for India. It …

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential
2 months, 1 week ago

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential

Live Mint  

World Bank economist Franziska Ohnsorge urges India to reduce tariffs and ease foreign direct investment restrictions to unlock its full potential. She highlights India's small market share but emphasizes that it can still capitalize on opportunities due to its proximity to global supply chains. The World Bank expects South Asia to remain the fastest growing among emerging market and developing …

Terms of Trade | Turbulent geopolitics calls for serious economics
2 months, 2 weeks ago

Terms of Trade | Turbulent geopolitics calls for serious economics

Hindustan Times  

The ongoing conflict has claimed one of the highest civilian casualties in recent history. If the western world caught an inflation cold because of a war with Russia, it will definitely face economic turmoil in case there is a military conflict involving China, the world’s second-largest economy and the largest exporter. In fact, given India’s trade dependence on China, a …

Watch | Trade diplomacy | What’s the status of India’s Free Trade Agreements?
9 months, 1 week ago

Watch | Trade diplomacy | What’s the status of India’s Free Trade Agreements?

The Hindu  

March 15, 2024 08:53 pm | Updated 09:18 pm IST As India signs a Free Trade Agreement with 4 European Nations, is there hope for other negotiations- from the UK and EU to Oman, Gulf and Eurasian countries? Let’s start with this week’s developments, and a flurry of activities around India’s Free Trade Agreement negotiations just ahead of elections being …

FTA ‘possible’ before India elections, says U.K. Trade Minister Kemi Badenoch
9 months, 2 weeks ago

FTA ‘possible’ before India elections, says U.K. Trade Minister Kemi Badenoch

The Hindu  

A trade deal being negotiated with India is "possible" to be concluded before a general election in the country but Britain does not want to use that as a deadline, U.K. Secretary of State for Business and Trade Kemi Badenoch has said. The Minister in charge of signing off on the free trade agreement, now in its 14th round of …

Ideas of India 3.0: India, UK Can Secure A Mutually Beneficial Trade Deal, Says British Politician Suella Braverman
9 months, 4 weeks ago

Ideas of India 3.0: India, UK Can Secure A Mutually Beneficial Trade Deal, Says British Politician Suella Braverman

ABP News  

British politician and member of the Parliament, Suella Braverman, said on Saturday that India and the UK have an opportunity to collaborate and work together on the world stage. That is why the post-Brexit UK heralds a great opportunity for a UK-India trade deal, the works for both our nations to double the trade to potentially 86 billion pounds, doubling …

Terms of Trade | India needs a White Paper on agriculture
10 months, 1 week ago

Terms of Trade | India needs a White Paper on agriculture

Hindustan Times  

A thorough, and more importantly, serious debate on agriculture is absolutely essential for India’s future for two basic reasons. One, agriculture still employs almost half of India’s workforce even though it contributes just around 15% of India’s GDP. One, any effort to reduce agriculture’s employment share will have to be mindful of the fact that without any additional skill sets …

India ‘most protectionist’ country, claims Trump’s top trade adviser in new book
10 months, 1 week ago

India ‘most protectionist’ country, claims Trump’s top trade adviser in new book

Hindustan Times  

WASHINGTON: When Robert Lighthizer, who served as President Donald Trump’s trade representative between 2017 and 2021, prepared for trade negotiations with Indian counterparts, he kept the biographies of 15 Indian billionaires on his desk. Former US Trade Representative Robert Lighthizer claimed that he told PM Modi in 2019 in the presence of Trump, that the US believes that India is …

Terms of Trade | Move over socialism, the joke’s on liberalism now
10 months, 3 weeks ago

Terms of Trade | Move over socialism, the joke’s on liberalism now

Hindustan Times  

When the Communist Party of India met in its second party congress in 1948, its 44-year-old secretary Bhalchandra Trimbak Ranadive came up with the famous line of “ Yeh aazadi jhoothi hai, desh ki janata bhookhi hai ”. The economic model after Independence BTR’s post-facto realisation of the global revolution having run its course before it could reach India would …

India Should Actively Raise Disputes Against WTO Incompatible Measures by Certain Nations: GTRI
1 year ago

India Should Actively Raise Disputes Against WTO Incompatible Measures by Certain Nations: GTRI

News 18  

With most of the developed regions like the US and EU have turned protectionist and are taking WTO incompatible measures, India should actively raise trade disputes to counter their steps, think tank GTRI said on Monday. The Global Trade Research Initiative said for raising disputes, the government would require a professional setup akin to the US Trade Representative and a …

India's trade trajectory: FTAs and beyond
1 year, 1 month ago

India's trade trajectory: FTAs and beyond

Live Mint  

India has been refining its global trade strategy, emphasizing a fresh outlook on Free Trade Agreements. India's readiness to face these emerging challenges will determine how well it can fulfil its ambitions of becoming an export-oriented manufacturing hub Not so long ago, India embarked on a journey to strengthen its trade relations with several nations, forging FTAs that promised mutual …

Aakar Patel | It's time to rethink India\'s role in the world; if it\'s helping us
1 year, 1 month ago

Aakar Patel | It's time to rethink India\'s role in the world; if it\'s helping us

Deccan Chronicle  

The Indian government has abstained from calling for an end to the violence in the Gaza Strip in a UN General Assembly resolution in order to avoid upsetting the United States. In 2014, the BJP manifesto said it would “strengthen Saarc” and that India’s states “will be encouraged to play a greater role in diplomacy”. This approach comes from a …

India-Russia Trade: 70 Years On, Ties Still Strong And Growing. But A Balancing Act Is Needed Now
1 year, 3 months ago

India-Russia Trade: 70 Years On, Ties Still Strong And Growing. But A Balancing Act Is Needed Now

ABP News  

A recent statement by Russian Trade Representative Alexander Rybas, on the 70th anniversary of commercial ties between Russia and India, highlighted the need for increasing bilateral trade, which in the changing geopolitical framework assumes significance with the rise of China, US’s indeterminate Indo-Pacific policy, and a multi-polar Asian paradigm. Several questions arise regarding the history of India-Russia trade relations, the …

To reach its economic potential, India must abandon protectionism
1 year, 4 months ago

To reach its economic potential, India must abandon protectionism

Hindustan Times  

It is not hard to see what enthuses the many evangelists for India’s economy. India’s government is convinced that reducing imports is necessary for its security and creating manufacturing jobs, and especially hopes to reduce imports from China. In 2022 value added in manufacturing accounted for 13.3% of India’s GDP, down from 15.6% in 2015 and the lowest since 1967; …

Dilemmas of India’s great power ambitions
1 year, 5 months ago

Dilemmas of India’s great power ambitions

The Hindu  

“What kind of a global power will India be?” There are those who argue that India should aspire to be a great power and assert its growing power internationally; others argue that India should focus on the uplift of millions of its people above the poverty line, improve governance and reconcile within the country before venturing into making a better …

Our PLI schemes are in need of a coherent trade policy
1 year, 6 months ago

Our PLI schemes are in need of a coherent trade policy

Live Mint  

The recent spat between former Reserve Bank of India governor Raghuram Rajan and electronics and information technology minister Ashwini Vaishnaw over the former’s criticism of the production-linked incentive scheme for semiconductors and other manufacturing sectors is part of an ongoing debate on India’s manufacturing policies. Indeed, India’s attempts at kick-starting large-scale ICT manufacturing ignores the uncomfortable realities of GVCs, which …

Current Regime Wants to Facilitate FTA, Says UK India Business Council Chief - News18
1 year, 8 months ago

Current Regime Wants to Facilitate FTA, Says UK India Business Council Chief - News18

News 18  

As India and the UK are scheduled to hold the next round of trade talks on April 24, some top business leaders in both the countries are of the opinion that the political turmoil in the western nation has affected the agreement to a certain extent, but now with Rishi Sunak having taken over as the Prime Minister, things are …

Why Ukraine war is an inflection point for India’s foreign policy
1 year, 10 months ago

Why Ukraine war is an inflection point for India’s foreign policy

Firstpost  

India is once again being seen as the voice of the Global South that regards the West’s attention on Ukraine as a mere diversion from more pressing issues such as food security, an impending economic recession, mounting debt, and terrorism With the Ukraine war this Friday entering its second year, Tuesday saw Presidents Vladimir Putin and Joe Biden delivering two …

How the Russia-Ukraine conflict is shaping India's foreign trade
1 year, 10 months ago

How the Russia-Ukraine conflict is shaping India's foreign trade

India Today  

The Russia-Ukraine war’s fallout has been an important factor in the global slowdown. Here are facts and figures to understand India's current trade dynamics: India's imports were down by 3.5 per cent as of December 2022, while exports were lower by 12.2 per cent compared to last year of the same period In export, 19 of the 30 key segments, …

In the new evolving world, India needs a new vision
1 year, 11 months ago

In the new evolving world, India needs a new vision

The Hindu  

The year 2022 can perhaps be best summarised by a quote by Vladimir Lenin: ‘There are decades where nothing happens; and there are weeks where decades happen.’ The year began with the ostensible vanquishing of the COVID-19 pandemic, thanks to the remarkable collective vaccination efforts of science, business and governments across the world. Editorial | Clarity and confusion: On Rahul …

Free Trade Agreement with India offers hope to UK as economy shrinks and inflation rises
2 years, 1 month ago

Free Trade Agreement with India offers hope to UK as economy shrinks and inflation rises

Firstpost  

Economic experts agree on the massive scale of the challenge, even as they hold out the prospect of a free trade agreement with India as a potential generator of much-needed economic growth London: It has been anything but a smooth ride for the Rishi Sunak-led UK government, with the latest official data released this week reflecting a shrinking economy and …

World economies keen on signing Free Trade Agreements with India, says Union Commerce Minister Piyush Goyal
2 years, 1 month ago

World economies keen on signing Free Trade Agreements with India, says Union Commerce Minister Piyush Goyal

The Hindu  

Union Minister of Commerce and Industry Piyush Goyal on Friday asserted that many economies want to sign Free Trade Agreements with India to expand their trade relations and friendship to benefit from India’s larger market potential. “The economies in the world are looking for trade relations and FTAs with India to do more business as they believe that India’s potential …

Geopolitics without geoeconomics, a fool’s errand
2 years, 3 months ago

Geopolitics without geoeconomics, a fool’s errand

The Hindu  

Over the past few years, New Delhi has developed a keen desire to be part of the geopolitical developments in the Indo-Pacific and has gone about it with great aplomb. India’s decision to take to the Indo-Pacific and Quad in a big way while unwilling to join two of the region’s key multilateral trading agreements goes to show that geoeconomics …

India must be the new champion of globalisation
2 years, 5 months ago

India must be the new champion of globalisation

Live Mint  

As countries chalk out paths of post- pandemic recovery, the complex task of opening up cross-border markets for the movement of people, goods, services and capital flows, and getting back to pre-pandemic levels of international trade, will play an important role in a broad economic revival to complement and reinforce domestic recoveries. As a large and fast-growing Asian economy with …

Worldview with Suhasini Haidar | How does the wheat export ban affect foreign policy?
2 years, 7 months ago

Worldview with Suhasini Haidar | How does the wheat export ban affect foreign policy?

The Hindu  

This week the UN takes up global food security on a war footing- the Ukraine war, that is, which has led to a slump in wheat production from a region known as the world’s bread basket- Russia and Ukraine together account for 25% of the world’s wheat exports. More about the foreign policy impact: 1 As we speak, a UN …

This is India’s moment of reckoning
2 years, 8 months ago

This is India’s moment of reckoning

The Hindu  

I have been deeply saddened by recent global developments of conflict and violence in Ukraine. India’s trade is dependent on both these power blocs and on the current global economic structures of free trade, established reserve currency and transaction systems. While one may reasonably quibble about this new doctrine, India, as the largest peace-loving democracy, stands to gain enormously from …

India-Russia explore a rupee-rouble payment scheme to bypass war
2 years, 8 months ago

India-Russia explore a rupee-rouble payment scheme to bypass war

Al Jazeera  

If this mechanism picks up, it could also open a window for Indian exporters to ramp up sales to Russia. Mumbai, India–Indian authorities are actively considering dedicated payment mechanisms for trade with Russia to enable existing trade obligations in the wake of sanctions imposed on the Kremlin, a move that will also pave the way for cheaper oil imports to …

India's legitimate energy transactions should not be politicised, say govt sources on Russian imports
2 years, 9 months ago

India's legitimate energy transactions should not be politicised, say govt sources on Russian imports

India Today  

India’s legitimate energy transactions should not be politicised and countries with oil self-sufficiency or those importing themselves from Russia cannot credibly advocate restrictive trading, sources in the government have said. RUSSIAN OIL MEETS LESS THAN 1% OF INDIA’S NEEDS However, crude oil imports from Russia account for less than one per cent of India’s requirement and does not figure among …

Russia's invasion of Ukraine leaves global trade in tatters
2 years, 9 months ago

Russia's invasion of Ukraine leaves global trade in tatters

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sanctions on Russia are starting …

A non-protectionist trade policy is what India needs
2 years, 9 months ago

A non-protectionist trade policy is what India needs

Hindustan Times  

Union finance minister Nirmala Sitharaman was conspicuously silent in her Budget speech about India’s free trade agreement negotiations. This economic philosophy is enunciated in the latest Economic Survey, which says that customs duties on certain imports have been hiked to provide “reasonable tariff support to goods being manufactured in India’’. India’s scorn for imports mirrors the Right-wing narrative against trade …

Ink India-Britain free trade, unlock new opportunity
2 years, 10 months ago

Ink India-Britain free trade, unlock new opportunity

The Hindu  

In May last year, Prime Ministers Narendra Modi and Boris Johnson announced their shared vision for a transformative decade for the India-United Kingdom partnership. Both governments have already taken action; for example, unlocking the export of British apples to India and enabling a greater number of Indian fisheries to export shrimp to the U.K. Small but meaningful steps by which …

Unpacking the resiliency of global trade, yet again
3 years, 4 months ago

Unpacking the resiliency of global trade, yet again

The Hindu  

In the last year, the devastating impact of COVID-19 pandemic has shrunk the world economy by 4.4% and global trade by 5.3%; job losses have been estimated to be to the tune of 75 million. The Second World War created sustaining multilateral institutions; besides the United Nations, the Bretton Woods Institutions such as World Bank and International Monetary Fund and …

India should now aggressively pursue free trade agreements with EU, UK: Trade experts
3 years, 11 months ago

India should now aggressively pursue free trade agreements with EU, UK: Trade experts

Live Mint  

With European Union and the UK clinching a post-Brexit trade pact, India should now aggressively pursue free trade agreements separately with both the regions, according to experts. Although it is premature to assess the gains for India from the agreement between European Union and the UK, Indian goods would not get much benefit from this pact, they said. FIEO President …

India’s mask of economic liberalism is off
4 years, 1 month ago

India’s mask of economic liberalism is off

The Hindu  

India’s External Affairs Minister S. Jaishankar recently disapproved of free trade and globalisation. Third, in blaming FTAs for the woes of India’s manufacturing, the External Affairs Minister is contradicting his own government’s economic survey presented earlier this year, which concluded that India has benefitted overall from FTAs signed so far. Fourth, the External Affairs Minister, following the finest traditions of …

Trade Wars: India wants predictability from the US
4 years, 1 month ago

Trade Wars: India wants predictability from the US

India Today  

India’s economic relationship with the US has always been a complicated one. Away from the customary PR visits to the Taj Mahal and the gifting of shawls and souvenirs, there have been difficult trade-offs and hectic negotiations—the famous “mangoes-for-bike” agreement of 2007, a swap deal under which India cleared Harley-Davidson’s proposed investment in the country in return for the US …

Opinion | The great scramble of millions to board India’s economic bus
4 years, 5 months ago

Opinion | The great scramble of millions to board India’s economic bus

Live Mint  

The covid-19 pandemic has highlighted the structural weaknesses of India’s economic model. India’s policymakers must devote much more attention to the building of India’s internal capabilities if Indians are to benefit from participation in global trade. Several economists—Dani Rodrik, Ricardo Hausmann, Ha Joon-Chang, and others—who have been advocating the need for sound industrial policies, to create more competitive enterprises and …

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