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 employment within countries, have so far been outside the mainstream because their ideas run counter to the dominant school of free trade economics. Our economists must move on from the debate of whether pre-1990s socialism was better for India’s masses or the post-1990s adoption of capitalism. Trade economists, labour economists, industrial economists and all other types of economists must step outside their specializations, and see reality from many perspectives together.

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History of this topic

Ajit Ranade: India needs more sectors to be reliable dollar earners
1 day, 7 hours ago

Ajit Ranade: India needs more sectors to be reliable dollar earners

Live Mint  

India presently has more than a quarter trillion dollars of essential imports. Domestic production capacity for all these is unlikely to become ‘ atma nirbhar ’ in the near future, even as demand will grow as India chugs at a 7% or 8% growth rate. In a report, Ajay Srivastava, founder of Global Trade Research Initiative, analysed the structural changes …

The UK is open for business and India features high on its speed-dial
2 weeks, 2 days ago

The UK is open for business and India features high on its speed-dial

Live Mint  

Prime Minister Keir Starmer and Prime Minister Narendra Modi sat down together at the G20 Summit in Brazil for what both have described as an extremely productive meeting. And initiatives like the UK-India Infrastructure Financing Bridge between Niti Aayog and the City of London are bringing the UK’s financing expertise to bear in supporting India’s growth. A new National Wealth …

India should reconsider its rejection of the RCEP trade bloc
1 month, 1 week 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 …

The IMF's WEO and the Rise of China: A Cautionary Tale for India
1 month, 4 weeks ago

The IMF's WEO and the Rise of China: A Cautionary Tale for India

Hindustan Times  

The IMF's World Economic Outlook report sheds light on the competitive edge China holds in the electric vehicle (EV) industry. The report highlights the sharp rise in labor productivity in China, which has enabled them to produce EVs at lower costs compared to their European counterparts. This competitiveness could lead to a global disruption in the EV market, which is …

IMF Sees India's Economic Growth and Outlook as Stable
2 months ago

IMF Sees India's Economic Growth and Outlook as Stable

New Indian Express  

India remains the world's fastest-growing economy, with inflation expected to decline to 4.4% in FY24-25. IMF Director Krishna Srinivasan highlights the country's strong macroeconomic fundamentals, including a large and growing population, favourable harvests, and a stable fiscal situation. Srinivasan suggests that the country focus on creating jobs, removing trade restrictions, and investing in infrastructure and education to strengthen its economy …

India's Economic Potential Soars as Global Landscape Shifts
Trending News
2 months ago

India's Economic Potential Soars as Global Landscape Shifts

The Hindu  

India is well positioned to capitalize on new growth opportunities due to its robust macroeconomic fundamentals and strategic shift towards strategic economic partnerships. The country's focus on domestic capacity building and resilience against external shocks will be key to its success. Ms. Sitharaman emphasized India's potential to become a key partner for many countries seeking to diversify their sources of …

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 …

Is the spike in India’s trade deficit a worry?
3 months ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Don’t take India’s strong services exports story for granted: Goldman Sachs
7 months, 3 weeks ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

Ideas of India 3.0: India, UK Can Secure A Mutually Beneficial Trade Deal, Says British Politician Suella Braverman
10 months 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’s rival is Vietnam in the game of attracting global manufacturers
10 months, 1 week ago

India’s rival is Vietnam in the game of attracting global manufacturers

Live Mint  

If India wants to build a robust computer and electronics manufacturing industry, it needs to shift focus, fast. The latest reminder of this urgency came last week with a US appeal for New Delhi to make the business environment easier and more transparent to navigate, or keep losing out on foreign direct investment. Though India is getting a lot of …

Terms of Trade | Is ‘Bharat’ the new Davos?
10 months, 2 weeks ago

Terms of Trade | Is ‘Bharat’ the new Davos?

Hindustan Times  

The last budget of the second Narendra Modi government and now a White Paper on the state of the economy strike a very unusual political economy note. India’s trajectory towards a neoliberal economy which is programmatically wedded to the idea of fiscal conservatism and unregulated markets has been completed while negotiating political roadblocks on the way. These three factors, when …

Terms of Trade | Move over socialism, the joke’s on liberalism now
10 months, 4 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 …

A tale of India’s two big export industries: And a lesson on incentives
11 months ago

A tale of India’s two big export industries: And a lesson on incentives

Live Mint  

India boasts of vast production capacity in one industry. Almost all its raw material is imported, resulting in the highest foreign value-added content in Indian exports among all industries, and low employment generation via backward linkages. Entrepreneurs in both sectors realized that by entering these, they can avoid dependence on India’s poor physical infrastructure, stringent labour laws and multiple licensing …

Terms of Trade | Why is the BJP immune from the anger of a K-shaped economic recovery?
11 months, 1 week ago

Terms of Trade | Why is the BJP immune from the anger of a K-shaped economic recovery?

Hindustan Times  

The first advance estimates released by the National Statistical Office expect the Indian economy to grow at 7.3% in 2023-24. Global growth rankings aside, what does this number actually mean as far as India’s political economy is concerned? Anybody who has been following India’s political economy in the past decade will agree that all three are true in some way. …

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 …

India’s global exports in labour-intensive sectors declined in last 5 years: FIE
1 year, 2 months ago

India’s global exports in labour-intensive sectors declined in last 5 years: FIE

Live Mint  

With India experiencing a decline in global market share across segments during the last five years, the labour-intensive export sectors such as apparels, marine products, plastics, and gems and jewellery are showing a "troubling pattern", news agency PTI quoted FIEO report as saying. "An analysis of sector-wise export performance for the last five years reveal the troubling pattern that India …

ECONOMIC PERSPECTIVES | Is the Indian economy booming in the 76th year of independence?
1 year, 4 months ago

ECONOMIC PERSPECTIVES | Is the Indian economy booming in the 76th year of independence?

The Hindu  

Published : Aug 24, 2023 11:00 IST - 6 MINS READ On the completion of 76 years since Indian Independence, a wide range of “informed” opinions from government spokespersons, non-government analysts, and large sections of the domestic and foreign media, enthusiastically or grudgingly declared that, as an economy, India is doing very well. This bounce back from the 5.8 per …

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; …

At the root of India’s manufacturing challenge
1 year, 6 months ago

At the root of India’s manufacturing challenge

The Hindu  

The issue of manufacturing or services as the desirable path for India’s economy makes the rounds in public fora periodically. In the early part of this century, when India’s software exports were booming, it had been asked why India’s services sector should not leapfrog over manufacturing to propel the economy forward. Unimpressive record After the economic reforms of 1991, the …

Terms of Trade | What ails competitive capitalism in India
1 year, 8 months ago

Terms of Trade | What ails competitive capitalism in India

Hindustan Times  

In a paper which is likely to create a big debate in India, New York University professor and former deputy governor of the RBI, Viral Acharya has argued that India needs to do five things to exploit its true economic potential. What this week’s column intends to do is take Acharya’s claims at face value and situate them in India’s …

The global economy needs a new powerhouse. India is stepping up
1 year, 11 months ago

The global economy needs a new powerhouse. India is stepping up

Live Mint  

India’s economic transformation is kicking into high gear.Global manufacturers are looking beyond China, with Prime Minister Narendra Modi stepping up to seize the moment. “India is on the cusp of huge change,” said Nandan Nilekani, a founder of Infosys Ltd., one of the nation’s largest technology services companies. “A lot of companies feel that given its size, given its young …

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 …

India is a glimmer of hope in a slowing world
1 year, 11 months ago

India is a glimmer of hope in a slowing world

Live Mint  

As we welcome 2023, there is much to be optimistic about and as much to reflect on. From bringing global manufacturing and supply chains to India to striking astute bilateral trade deals to building the much-needed infrastructure at a steady pace, the Prime Minister has dramatically altered not only the ease of doing business but also rendered the country a …

India will be big export economy; to benefit from open and connected internet: Pichai
2 years ago

India will be big export economy; to benefit from open and connected internet: Pichai

Deccan Chronicle  

NEW DELHI: India will be a big export economy and it needs to create a balance between safeguarding citizens and enabling companies to innovate with its framework, Google CEO Sundar Pichai said on Monday. While speaking at Google for India event, Pichai said that the company is focussing on startups from India and out of its USD 300 million for …

Trade tumult: The Hindu Editorial on shrinking exports
2 years, 1 month ago

Trade tumult: The Hindu Editorial on shrinking exports

The Hindu  

For the first time since February 2021, India’s goods exports shrank this October, dropping 16.7% from last year to slip below $30 billion after a 20-month-streak above that mark. While the Government acknowledged forecasts of a slump in global shipments growth to just 1% in 2023, it attributed the October trade blip to a seasonal Deepavali effect — production dips …

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 …

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 …

India Inc could play a lead role in our economy’s global emergence
2 years, 5 months ago

India Inc could play a lead role in our economy’s global emergence

Live Mint  

As India celebrates its 75th year of Independence with the Azadi ka Amrit Mahotsav, we stand at the cusp of a new emerging world order. As former PM Manmohan Singh had commented, “The brightest jewel in the British crown was the poorest country in the world in terms of per capita income at the beginning of the 20th century.” Post-independence, …

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 …

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 …

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 …

Is India on the cusp of a flurry of free trade deals?
3 years ago

Is India on the cusp of a flurry of free trade deals?

Al Jazeera  

India has shown little enthusiasm for free trade deals since Prime Minister Modi took office, but as trade imbalances rise, his government appears to be changing course. Former Prime Minister Tony Abbott, now a trade envoy for the Australian government, has indicated that Indian tariffs on his country’s wines could be slashed under the interim pact. “Because you can get …

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 Must Bridge the Last-mile Gap on FTAs for an Economic Take-off
3 years, 6 months ago

India Must Bridge the Last-mile Gap on FTAs for an Economic Take-off

News 18  

The Central Hall of Parliament broke into rapturous applause. Delivering the Nani Palkhivala Memorial Lecture last year, Tata Sons chairman N Chandrasekaran hit the bullseye in noting, “There is a massive risk aversion within the system, which has led to an ‘undesirable equilibrium’ where it is safer to avoid or delay decisions.” Alas, hardly any official has ever been sacked …

India must remain a part of global economy, open: Amitabh Kant
3 years, 11 months ago

India must remain a part of global economy, open: Amitabh Kant

The Hindu  

India must remain an integral part of the global economy if it has to grow at 9-10% over the next three decades, NITI Aayog CEO Amitabh Kant said. “If India has to grow at 9-10% over a three-decade period, it must be open, it must be an integral part of the global economy. Mr. Kant further pointed out the government’s …

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 …

Protection from imports time bound, says NITI Aayog Vice-Chairman
4 years, 1 month ago

Protection from imports time bound, says NITI Aayog Vice-Chairman

The Hindu  

Any tariff protection to promote local manufacturing in India will come with an in-built sunset clause, NITI Aayog Vice-Chairman Rajiv Kumar said on Friday, asserting that the country’s self-reliance mission must not be equated to it becoming a ‘protectionist’, closed economy. The government is set to extend the production-linked incentive scheme for manufacturing pharmaceuticals, medical devices and electronics announced under …

India Should Resist Misleading Allure of Domestic Market; Boost Export, Says Paper Co-authored by Ex-CEA
4 years, 2 months ago

India Should Resist Misleading Allure of Domestic Market; Boost Export, Says Paper Co-authored by Ex-CEA

News 18  

India should resist the misleading allure of the domestic market and should zealously boost exports, according to a research paper co-authored by former chief economic advisor Arvind Subramanian. The paper, jointly authored by Subramanian and Pennsylvania State University professor Shoumitro Chatterjee, said India is turning inward, domestic demand is assuming primacy over export orientation and trade restrictions are increasing, reversing …

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