India should ally with the West as US decouples with China: Arvind Virmani
1 year, 2 months ago

India should ally with the West as US decouples with China: Arvind Virmani

Live Mint  

New Delhi: India should sign trade agreements with the Western powers like the US, the EU, Germany and Japan to take advantage of the supply chain diversification arising from the decoupling in trade and technology exchange between the US and its allies, and China, Niti Aayog member and eminent economist Arvind Virmani said on Thursday. " We can expect two major economic blocs, with greater trade happening within these blocs as compared to between them," Virmani said. Speaking at an FICCI event, Virmani said India's decision not to be a part of the Regional Comprehensive Economic Partnership bloc was a correct one, as being a part of the bloc would be equivalent to signing a back-door free trade agreement with China. Virmani said supply chain diversification will be critical in coming decade as the world decouples into two major trade blocs.

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History of this topic

India, Asean to gain as looming US tariffs shake up global trade: BCG
1 day, 16 hours ago

India, Asean to gain as looming US tariffs shake up global trade: BCG

Live Mint  

New Delhi: India and Asean bloc stand to gain as looming tariffs under the second Donald Trump administration in the US and geopolitical tension reshape global trade flows over the next decade, according to a Boston Consulting Group report. India’s economic growth, combined with favourable policies aimed at boosting its manufacturing capabilities, positions it as a key player in the …

Dollar trade finance dips as demand for local currencies rises: JPMorgan's Zhang
1 week, 6 days ago

Dollar trade finance dips as demand for local currencies rises: JPMorgan's Zhang

Live Mint  

Mumbai: There has been a mild decline in the use of US dollars for trade finance in the Asia Pacific region on the back of higher interest rates, with demand for local currency financing increasing to fill the gap, according to a senior banker at JPMorgan. “Notably, US dollar trade finance has experienced declining momentum in the last two years, …

What India-US trade could look like after Trump takes office
3 weeks, 5 days ago

What India-US trade could look like after Trump takes office

Live Mint  

By Manoj Kumar NEW DELHI, Dec 19 - India is preparing for possible trade talks with the United States, aiming for increased investments from U.S. companies and higher exports once President-elect Donald Trump takes office. Here are key commercial issues between the two countries: TRUMP POLICY ON CHINA India seeks to leverage Trump's policy by capitalising on U.S. trade tension …

Indian manufacturing must adapt to constant flux in a dynamic world
3 weeks, 5 days ago

Indian manufacturing must adapt to constant flux in a dynamic world

Live Mint  

The global economic landscape is becoming increasingly interlinked and dynamic. Despite multiple shifts, 2023 saw global merchandise exports worth over $24 trillion, an increase of 6% over 2019, demonstrating resilience in the face of disruptions. Focused reforms since then, including the production-linked incentive schemes and ‘Make in India’ initiative, combined with infrastructure development programmes, trade agreements and stronger participation in …

India should not shy away from Chinese investment: Arvind Panagariya explains why
1 month ago

India should not shy away from Chinese investment: Arvind Panagariya explains why

Live Mint  

India should remain open to investments from China like other developed countries like the United States and Germany, with an expectation from a handful of sectors, reported the news agency PTI on Thursday, December 12. The activities from which you want to exclude are relatively few because I don't see other countries restricting Chinese investment in large number of sectors,” …

India to work with rest of Brics countries to further ease trade
1 month ago

India to work with rest of Brics countries to further ease trade

Live Mint  

India's trade with BRICS countries may be poised for a take-off as officials work to extend customs-related privileges to trust ed merchants from these nations, which would also fetch similar benefits to Indian exporters to those markets, two persons familiar with the matter said. A second person said the road is clear for negotiating a similar deal with China, a …

India faces high exposure to US trade policy shift
1 month, 1 week 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 …

China+1 plan: India’s limited gain
1 month, 1 week ago

China+1 plan: India’s limited gain

New Indian Express  

NEW DELHI: Government think tank Niti Aayog has admitted that ‘India has seen limited success so far in capturing the China Plus One strategy. It attributes factors like cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing free trade agreements have played a key role in helping these countries expand their share of exports. The US has raised …

Piyush Goyal calls for stronger India-France trade ties, technological collaboration
1 month, 2 weeks ago

Piyush Goyal calls for stronger India-France trade ties, technological collaboration

Live Mint  

Union commerce and industry minister Piyush Goyal on Wednesday urged France and India's Asia-Pacific partners to strengthen trade ties, advance technological collaboration to tackle global challenges like climate change, and expand defence partnerships. Speaking at the 2024 Asia-Pacific Forum of the French Foreign Trade Advisors, Goyal expressed optimism about strengthening the India-France partnership and emphasized the need for faster growth …

India-China trade: An alarming $18 billion discrepancy
1 month, 2 weeks ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

India should reconsider its rejection of the RCEP trade bloc
2 months ago

India should reconsider its rejection of the RCEP trade bloc

Live Mint  

Five years ago, on a November morning in Bangkok, just on the verge of signing the Regional Comprehensive Economic Partnership agreement, India abruptly walked out of it. India’s RCEP participation should be based on a broad set of metrics—not merely the trade deficit, but also investment inflows, employment creation and participation in new regional value chains. A 2022 assessment by …

Sanjaya Baru | India and East Asia: It’s a return to geo-economics
2 months ago

Sanjaya Baru | India and East Asia: It’s a return to geo-economics

Deccan Chronicle  

Something interesting is happening on the external economic policy front. Following up the suggestion made in the Union finance ministry’s Economic Survey 2023-24, that India should welcome foreign direct investment from China, the chief executive officer of the Niti Ayog, the Union government’s economic policy think tank, has publicly advocated India joining the Regional Comprehensive Economic Partnership trade bloc. However, …

India could benefit from re-orientation of global supply chain away from China after Trump victory: Report
Trending News
2 months 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 …

India could benefit from re-orientation of global supply chain away from China after Trump's victory
Trending News
2 months ago

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

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 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 said …

India's decision to opt out of RCEP agreement strategically sound: GTRI
2 months ago

India's decision to opt out of RCEP agreement strategically sound: GTRI

Deccan Chronicle  

New Delhi: India's decision to opt out of the trade bloc RCEP was strategically sound as the country has the largest trade deficit and trust issues with China, think tank GTRI said on Friday. "Had India joined RCEP, the situation could have worsened drastically, as it would face zero-tariff imports from China, risking further imbalance," the Global Trade Research Initiative …

America First, round two: What Trump's trade agenda means for India and the world
2 months, 1 week ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

BRICS+ Share Soars, Outperforming G7 in Global Goods Exports
2 months, 2 weeks ago

BRICS+ Share Soars, Outperforming G7 in Global Goods Exports

The Hindu  

BRICS+ group's share in global goods exports can overtake G7 by 2026, according to EY India. The BRICS+ group's share of global merchandise exports has risen from 10.7% to 23.3%, marking an impressive increase of 12.6 percentage points. In contrast, the G7's share has seen a notable decline, dropping from 45.1% to 28.9%. This trend highlights the growing prominence of …

India-China Border Deal: A Long-Overdue Resolution
2 months, 3 weeks ago

India-China Border Deal: A Long-Overdue Resolution

News 18  

Prime Minister Narendra Modi and Chinese Premier Xi Jinping will hold first bilateral talks in five years on Wednesday on the sidelines of the 16th BRICS Summit in Russia. Both countries reached an agreement to resume border patrolling operations along LAC following the disengagement process along the disputed areas.

World Bank Calls for Tariff Reduction and Ease of FDI in India to Unlock Growth Potential
2 months, 4 weeks 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 …

How India can fix the Chinese imports problem
3 months, 1 week ago

How India can fix the Chinese imports problem

Live Mint  

India last month extended countervailing duties of 12-30% on certain steel imports from China and Vietnam, following requests from local producers to safeguard against cheaper imports. Read this | Mint Primer | China’s stimulus: What it spells for India & the world A growing economy like India’s naturally requires more imports to meet rising consumption and manufacturing demand, with cost …

Weighing in on business as usual with China
3 months, 3 weeks ago

Weighing in on business as usual with China

The Hindu  

Recent media pieces have speculated on whether India’s fraught relations with China are headed towards a relative thaw and suggestions are being put forward for a more liberal attitude towards foreign direct investment from that country. The economic commentary Despite this national security situation, the Economic Survey 2024 has favoured India plugging itself into China’s supply chains through Chinese investments …

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI
4 months, 1 week ago

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI

The Hindu  

India has recorded trade surplus with as many as 151 countries such as the U.S. and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. "Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent …

Roll out a red carpet for Chinese investment—but cautiously
5 months, 1 week ago

Roll out a red carpet for Chinese investment—but cautiously

Live Mint  

In 2021-22, India received its highest foreign direct investment inflow of $84 billion. Globally, one of the biggest FDI sources is China, which last year alone poured $148 billion into other economies, the world’s third highest, at a time when global aggregate FDI flows were falling. Of the cumulative FDI received since 2000, India approved only $2.5 billion from China, …

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal
5 months, 2 weeks ago

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal

India TV News  

New Delhii: Commerce and Industry Minister Piyush Goyal said on Tuesday that there is no rethinking in the government to support foreign direct investments from China, as was pitched by the Economic Survey recently. India faces two choices to benefit from the 'China plus one strategy' -- it can integrate into China's supply chain or promote FDI from China. China …

‘India may gain more from Chinese FDI than import reliance in tapping China plus one strategy’
5 months, 3 weeks ago

‘India may gain more from Chinese FDI than import reliance in tapping China plus one strategy’

The Hindu  

Chief Economic Advisor V. Anantha Nageswaran has suggested that India may stand to gain more by “replacing some well-chosen imports with investments from China” thus helping both boost Indian manufacturing and plugging India into the global supply chain as it looks to tap advanced economies’ push to diversify beyond China through a China plus one sourcing approach. Writing in a …

India Should Think About Receiving Chinese Investments
5 months, 3 weeks ago

India Should Think About Receiving Chinese Investments

Deccan Chronicle  

Chennai: In order to boost Indian manufacturing and plug India into the global supply chain, it is inevitable that India plugs itself into China's supply chain. It is increasingly seen that emerging economies are introducing import restrictions on Chinese goods while accelerating a push for free trade elsewhere to protect their domestic manufacturers due to the threat of China’s overcapacity. …

India’s trade to improve amid easing global challenges: Economic Survey
5 months, 3 weeks ago

India’s trade to improve amid easing global challenges: Economic Survey

Live Mint  

Amid geopolitical headwinds and sticky inflation, India’s exports remained strong in the financial year 2023-24, the Economic Survey asserted, adding that trading in goods is expected to improve this year and the next. Though merchandise exports moderated owing to lower demand from major trading partners, India performed well in the export of services, lowering the country’s overall trade deficit from …

Ajit Ranade: India should reinforce its strengths on the external economic front
6 months, 4 weeks ago

Ajit Ranade: India should reinforce its strengths on the external economic front

Live Mint  

Trade openness is measured as the ratio of trade to GDP. It shows a decisive turn-away from the earlier export pessimism and trade scepticism, and India’s acceptance of trade as an enabler of economic growth. The latter two’s high dependence on foreign trade also implies high vulnerability to global business cycles and recessionary winds. For example, India has a bilateral …

Why India Isn’t the New China
11 months, 3 weeks ago

Why India Isn’t the New China

Live Mint  

China’s economy is struggling, but another Asian giant, neighboring India, is suddenly squarely on investors’ and manufacturers’ radar. India’s age-dependency ratio—a measure of the burden of child and elderly care on households—has fallen to 47 in 2022 from 82 in 1967, according to the World Bank. Only a third of India’s female working-age population was in the labor force in …

Vantage | How West's 'de-risking' is hurting China, helping India
1 year, 1 month ago

Vantage | How West's 'de-risking' is hurting China, helping India

Firstpost  

Foreign investors are diversifying their portfolios away from China, exploring alternatives in various sectors In the fast-paced world of international relations, if world leaders were on TikTok, the trending hashtag would undoubtedly be #DeRisk. According to a Reuters report, China’s manufacturing sector unexpectedly contracted in October, with exports shrinking by 6.4 per cent compared to the previous year. Foreign investment …

India will be third largest GDP by 2027, says Nirmala
1 year, 1 month ago

India will be third largest GDP by 2027, says Nirmala

Deccan Chronicle  

New Delhi: Terming the India-Middle East-Europe Connectivity Corridor as one of the most promising connectivity projects, Union finance minister Nirmala Sitharaman on Wednesday said that it would be a win-win situation for all stakeholders who are involved in bringing efficiency in transportation, reducing logistic costs, increasing economic unity, generating employment, and lowering greenhouse gas emissions. The country’s economic growth is …

Sri Lanka, Bangladesh mull over joining RCEP bloc
1 year, 2 months ago

Sri Lanka, Bangladesh mull over joining RCEP bloc

The Hindu  

Four years after India walked out of the Regional Comprehensive Economic Partnership agreement, neighbours Sri Lanka and Bangladesh are now considering their chances of membership in the 15-nation trading bloc. Vast potential The Sri Lankan Presidential Secretariat confirmed the government’s application for RCEP membership in an August statement, saying that it recognised “the potential of this vast trade block comprising …

How India is diversifying its economic partnerships to reduce a $60 billion trade deficit with China
1 year, 3 months ago

How India is diversifying its economic partnerships to reduce a $60 billion trade deficit with China

Firstpost  

By diversifying economic partnerships and fostering ties with like-minded nations, India aims to establish itself as a linchpin of stability and growth, contributing to a more balanced and multipolar world order India’s strategic pivot towards forging stronger economic alliances with nations like Korea, Japan, Europe, and the United States is emblematic of its response to evolving geopolitical dynamics. This shift …

Chinese minister says India free to join RCEP trade bloc
1 year, 4 months ago

Chinese minister says India free to join RCEP trade bloc

Hindustan Times  

India is free to join the Regional Comprehensive Economic Partnership, China's Vice Commerce Minister Wang Shouwen said on Friday in New Delhi, adding that it would boost trade between India and China which is growing "very fast". The RCEP is the world's largest trade bloc backed by China and groups 15 Asia-Pacific economies, including Australia, Japan, New Zealand and 10 …

India-ASEAN trade deal ill conceived: Goyal
1 year, 5 months ago

India-ASEAN trade deal ill conceived: Goyal

Live Mint  

India-ASEAN trade deal signed under the UPA era is one of the most ill-conceived deals, commerce minister Piyush Goyal said on Thursday at an industry event. India mostly imports capital goods, raw materials and intermediates from Asean, the tariff concessions under the free trade agreements have also been advantageous to many sectors and adversely impacted domestic companies, especially chemicals and …

India is making its mark in the world
1 year, 7 months ago

India is making its mark in the world

Hindustan Times  

India is in a rare moment of equilibrium. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund says India and China will account for 50% of the total world gross domestic product growth in 2023, …

India’s Jan.-April imports from China rise 4.6% to $37.86 billion
1 year, 7 months ago

India’s Jan.-April imports from China rise 4.6% to $37.86 billion

The Hindu  

India’s imports of Chinese goods have continued to rise in 2023, growing 4.6% in the first four months of the year to cross $37.86 billion. Two-way trade climbed 4.5% from the year-earlier period to reach $44.34 billion at the end of April, data from China’s General Administration of Customs showed. In the first four months of the year, China’s trade …

India-US Trade Camaraderie Stronger Than Before Amid Persistent Chinese Deficit Pinch
1 year, 8 months ago

India-US Trade Camaraderie Stronger Than Before Amid Persistent Chinese Deficit Pinch

News 18  

The United States has emerged as India’s top trade partner for the second consecutive year, tying up China to the second rank. Strategic and foreign trade experts see the trade numbers as a small but significant move towards decreasing India’s reliance on Chinese imports; a move they feel was urgently required given New Delhi’s overdependence on Chinese imports, its persistent …

India failed to create positive impression among businesses moving away from China, says House panel report
1 year, 9 months ago

India failed to create positive impression among businesses moving away from China, says House panel report

The Hindu  

Despite resources, India has not been able to create a positive impression among businesses moving away from China, a parliamentary panel on commerce has said in its report tabled in the Rajya Sabha on Friday. The report stated that India has not been able to take advantage of the “China Plus One Strategy,” through which multinationals shifted manufacturing and production …

India Is Trusted And Stable But ‘More Expensive’ Than China, Vietnam For Businesses: US Trade Body
1 year, 11 months ago

India Is Trusted And Stable But ‘More Expensive’ Than China, Vietnam For Businesses: US Trade Body

ABP News  

New Delhi: India continues to be ‘more expensive’ compared to China, Mexico or Vietnam for American businesses even as they expect greater “transparency and predictability” in the upcoming finance budget, according to Atul Keshap, President, US-India Business Council at the US Chamber of Commerce. Lauding some of the programmes rolled out by the government such as the ‘PM Gati Shakti …

Agreement injects impetus into Asia-Pacific trade
2 years ago

Agreement injects impetus into Asia-Pacific trade

China Daily  

While most people were enjoying a good rest to usher in the New Year, warehouses in Guangxi Wuzhou Rixin Plastics Industrial Co Ltd were moving into top gear for a new consignment of exports. The RCEP agreement, which entered into force on Jan 1, 2022, comprises 15 Asia-Pacific countries, including 10 ASEAN member states and five major trading partners — …

Aakar Patel | If our trade with China can see a rise, why not with our neighbours?
2 years ago

Aakar Patel | If our trade with China can see a rise, why not with our neighbours?

Deccan Chronicle  

Reserve Bank governor Shaktikanta Das said last week that the government and the RBI were in discussions with South Asian countries to enable cross-border trade in the rupee. The World Bank says that trade between South Asian nations accounts for only five per cent of the region’s total trade. The World Bank says “border challenges mean it is about 20 …

Yellen visits India to shore up US-Indo-Pacific partnership
2 years, 2 months ago

Yellen visits India to shore up US-Indo-Pacific partnership

Associated Press  

NEW DELHI — Supply chains, Russia’s war in Ukraine and the impact of COVID-19 were top issues for U.S. Treasury Secretary Janet Yellen as she met with Indian government and business leaders Friday in New Delhi. Both Yellen and Indian Finance Minister Nirmala Sitharaman called for the strengthening of supply chains with trusted trading partners in the Indo-Pacific region to …

China’s total trade surplus with India ‘surpasses $1 trillion’
2 years, 2 months ago

China’s total trade surplus with India ‘surpasses $1 trillion’

The Hindu  

The favourable trade balance that China has enjoyed with India, since bilateral commerce began to boom in the early 2000s, has cumulatively exceeded $1 trillion, according to estimates. In 2021, annual two-way trade crossed $100 billion for the first time, reaching $125.6 billion, with India’s imports accounting for $97.5 billion, pegging the imbalance at close to $70 billion. Trade ties …

Trade pacts, Aatmanirbhar Bharat vision: PM Modi shares report card of 8 years
2 years, 7 months ago

Trade pacts, Aatmanirbhar Bharat vision: PM Modi shares report card of 8 years

Live Mint  

Sharing details of various initiatives, Prime Minister Narendra Modi on Saturday asserted that his government has made a series of pro-people decisions to help the poor, youth, farmers, women and the marginalised. He also shared articles from his website that had details of the government's reforms in the defence sector with a focus on indigenisation, making of defence corridors and …

India’s Q1 imports lift trade with China to record high
2 years, 9 months ago

India’s Q1 imports lift trade with China to record high

The Hindu  

A sharp increase in India’s imports of Chinese goods in the first quarter of 2022 lifted bilateral trade by 15% to a record $31.96 billion, trade data released by China on Wednesday show. In 2021, India’s trade with China surpassed the $100 billion mark for the first time to reach $125 billion, driven by demand for electronic products, chemicals and …

What explains India's high import traiffs
2 years, 10 months ago

What explains India's high import traiffs

Live Mint  

Decoding India’s tariff and trade policy has become increasingly difficult for trade experts. Unlike them, India’s free-trade agreement partners like the Republic of Korea and Thailand also have fairly high average autonomous tariffs, compared to countries like Australia and New Zealand. Learnings from previous agreements: India’s comprehensive economic partnership agreement with ROK has been a key learning experience in the …

RCEP galvanizes Shinan's high-speed development
2 years, 11 months ago

RCEP galvanizes Shinan's high-speed development

China Daily  

With the Regional Comprehensive Economic Partnership or RCEP trading agreement having come into effect on Jan 1, Shinan district – located in Qingdao city in East China's Shandong province – is tapping its potential and moving to create an attractive and quality environment that will galvanize the development of foreign trade, according to local media reports on Jan 13. Fifteen …

India’s trade with China crosses $125 billion, imports near $100 billion
2 years, 11 months ago

India’s trade with China crosses $125 billion, imports near $100 billion

The Hindu  

India’s trade with China in 2021 crossed $125 billion with imports from China nearing a record $100 billion, underlining continued demand for a range of Chinese goods, particularly machinery. Bilateral trade reached $125.6 billion in 2021, with India’s imports from China accounting for $97.5 billion. While a break-up of imports and exports was not immediately available, India’s biggest exports to …

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