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 this ‘principled trade’ aspiration of the western bloc. In the long run, India stands to gain more from unfettered access to the western bloc markets for Indian exports under the established trading order than from discounted commodities purchased under new bilateral currency arrangements that seek to create a new and parallel global trade structure. India thus needs not just a non-aligned doctrine for the looming new world order but also a non-disruptive geo-economic policy that seeks to maintain the current global economic equilibrium.

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History of this topic

India’s trade braces for an action-packed 2025
2 hours, 37 minutes ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

Rupee at 85 to a Dollar: Sinking Towards 100?
20 hours, 27 minutes ago

Rupee at 85 to a Dollar: Sinking Towards 100?

The Quint  

India has indeed developed a strong export franchise in not only IT services but also in setting up global capability centers that employ over 1.5 million talented Indians for highly productive use. India, in contrast to its merchandise counterpart, import much less of services, and generate good surplus despite Indians’ itch to travel abroad and seek overseas education. India exported …

The great unknown: how a Trump presidency could affect the world, in five charts
1 week, 5 days ago

The great unknown: how a Trump presidency could affect the world, in five charts

Live Mint  

US President Harry S. Truman once famously asked for a “one-handed economist" because he was tired of economists who, instead of giving decisive answers, would say, “On the one hand, this, and on the other hand, that." A plan to impose across-the-board tariffs on Mexico, Canada and China reinforced the view that tariffs would increase prices and keep US interest …

Why India’s efforts to engage Global South is a forceful idea
1 week, 6 days ago

Why India’s efforts to engage Global South is a forceful idea

Firstpost  

Today, about 40 per cent of global trade, 50 per cent of manufacturing and a significant share of high-tech products are accounted for by the Global South As the Global South continues to evolve, there is much speculation about its future form and structure, especially considering the rise of economic and geopolitical powers like China and India within the non-West …

The UK is open for business and India features high on its speed-dial
2 weeks, 1 day 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 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 …

India confident of better trade ties with US under Donald Trump: Piysuh Goyal
3 weeks, 4 days ago

India confident of better trade ties with US under Donald Trump: Piysuh Goyal

Live Mint  

Union commerce and industry minister Piyush Goyal on Thursday expressed confidence in the resilience of India-US relations as Donald Trump gears up for another term in the White House. India's exports Meanwhile, Goyal said India's total exports, including merchandise and services, are expected to cross $800 billion in 2024-25 despite challenges related to the pandemic and geopolitical crises like the …

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 …

India to achieve $100-billion trade with Russia well before 2030 target: Jaishankar
Trending News
1 month, 1 week ago

India to achieve $100-billion trade with Russia well before 2030 target: Jaishankar

Hindustan Times  

India is confident of achieving commerce worth $100 billion with Russia before the target date of 2030 though the two sides need to address constraints to ensure trade is more balanced, external affairs minister S Jaishankar said on Tuesday. The two sides have seen “perceptible progress” in tackling challenges to trade, especially issues related to payments and logistics, but there …

India stresses need to address trade imbalance with Russia
Trending News
1 month, 1 week ago

India stresses need to address trade imbalance with Russia

Hindustan Times  

New Delhi 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 …

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 …

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 …

Will India triumph or be Trumped?
1 month, 2 weeks ago

Will India triumph or be Trumped?

Live Mint  

If you are the CEO of a global multinational corporation or the chief investment officer of a large global pension fund or a sovereign wealth fund or an insurance company, or an asset manager with a high allocation to emerging markets, India should be the least of your concerns for now. Trump’s ‘America First’ and ‘Make America Great Again’ rhetoric …

America First, round two: What Trump's trade agenda means for India and the world
1 month, 2 weeks 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 …

Transforming Ties: India's Evolving Foreign Policy Towards China and Other Neighbours
Trending News
1 month, 4 weeks ago

Transforming Ties: India's Evolving Foreign Policy Towards China and Other Neighbours

Firstpost  

India's evolving foreign policy towards China and other neighbors is evident in the recent development of a significant agreement between the two countries on a comprehensive economic and maritime security partnership. This move signifies India's ability to adapt its foreign policy to suit changing circumstances and prioritize its interests, despite facing challenges from China's assertive posture. The agreement also highlights …

Himalayan Thaw Sends Shockwaves Across the World: A Multipolar Showdown
Trending News
1 month, 4 weeks ago

Himalayan Thaw Sends Shockwaves Across the World: A Multipolar Showdown

India Today  

The Himalayan thaw sends shockwaves across the world, with India and China breaking their decades-long border standoff. Both sides have agreed to restore stability on the border, marking a significant shift in their relationship. The timing of the meeting is seen as apt, given the changing geopolitical landscape and the chaos in US domestic politics. The focus on economic cooperation …

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 …

India poised to capitalize on new growth opportunities as global economic landscape shifts
2 months ago

India poised to capitalize on new growth opportunities as global economic landscape shifts

New Indian Express  

Finance Minister Nirmala Sitharaman highlights India's potential to capitalize on new growth opportunities amidst a challenging global economic environment. She emphasizes the country's focus on boosting domestic capacities and building resilience against external shocks. The shift towards a more fragmented global economy could work to India's advantage, as the country seeks to become a key partner for many countries seeking …

Rebalancing India's Great Power Relations: A Crucial Moment for the Indo-Pacific
2 months, 2 weeks ago

Rebalancing India's Great Power Relations: A Crucial Moment for the Indo-Pacific

The Hindu  

Prime Minister Narendra Modi's participation in the sixth Quad Leaders' Summit in Wilmington, Delaware, U.S., has raised hopes of consolidating security cooperation among the four leading maritime democracies in the Indo-Pacific. However, it was India's National Security Adviser's (NSA) trip to Russia in early September for the BRICS (Brazil, Russia, India, China, South Africa) NSA meeting, which included a high-profile …

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 …

India, Russia aim for speedy conclusion of bilateral investment treaty
3 months ago

India, Russia aim for speedy conclusion of bilateral investment treaty

Hindustan Times  

New Delhi Seven years after the expiry of the investment treaty between India and Russia, the two countries have launched negotiations to expeditiously conclude a fresh pact to ramp up investments and business cooperation, officials from both sides said. A second official said the two sides are “close to moving forward” with the investment treaty since it is a “good …

India seeks to boost exports to Russia after Modi's visit
5 months, 1 week ago

India seeks to boost exports to Russia after Modi's visit

Hindustan Times  

India is exploring ways to boost its exports to Russia, including by encouraging rupee-rouble trade and pushing Moscow to lift non-tariff barriers, New Delhi said on Monday, in the wake of Prime Minister Narendra Modi's visit to Moscow. Prime Minister Narendra Modi exchanges greetings with Russian President Vladimir Putin after receiving the Order of St Andrew the Apostle the First-Called, …

The view from India newsletter: When Modi goes to Moscow
5 months, 3 weeks ago

The view from India newsletter: When Modi goes to Moscow

The Hindu  

Prime Minister Narendra Modi will visit Russia from July 8 to 9 where he is expected to meet President Vladimir Putin to have talks on strategic, economic and defence ties between the two countries. To put this in the context, India’s crude imports from Russia was just $2.4 billion in 2021-2022, the fiscal year before the Ukraine war began. In …

India in trade deficit with nine of top 10 trading partners in 2023-24
6 months, 3 weeks ago

India in trade deficit with nine of top 10 trading partners in 2023-24

The Hindu  

India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. India's total trade deficit in the last fiscal narrowed to $238.3 billion as against $264.9 billion in the previous fiscal. Economic think tank Global Trade Research Initiative said …

EAM Jaishankar Says India’s spike in trade with Russia not a ‘temporary phenomenon
7 months ago

EAM Jaishankar Says India’s spike in trade with Russia not a ‘temporary phenomenon

The Hindu  

India's rise in trade with Russia should not be seen as a "temporary phenomenon" as more economic opportunities are emerging, India's Foreign Minister said on Friday. India and Russia have a close relationship stretching back decades, and New Delhi has refused to condemn Moscow over its February 2022 invasion of Ukraine, urging the two sides to end the conflict through …

India's exports register healthy growth to European, Latin American nations in 2023
8 months, 2 weeks ago

India's exports register healthy growth to European, Latin American nations in 2023

The Hindu  

Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday. India's merchandise export rose 2.1% to the European Union in 2023 despite headwinds being faced by large developed markets like the EU and the U.K. due to high cost of …

Still a long way from rupee globalisation
8 months, 2 weeks ago

Still a long way from rupee globalisation

Hindustan Times  

At the Reserve Bank of India’s 90th anniversary celebrations, the Prime Minister pushed for the rupee to be “more accessible and acceptable all over the world.” Through the Unified Payments Interface, Indians can already access rupees in their banks in India to make payments in a few foreign countries so far, which is a good beginning. China has been pushing …

Do India’s Free Trade Agreements with European nations benefit the country? | In Focus podcast
8 months, 3 weeks ago

Do India’s Free Trade Agreements with European nations benefit the country? | In Focus podcast

The Hindu  

On March 10th, India signed a free trade agreement with a group of four European nations, committing to reduce tariffs. The balance of trade heavily favours the EFTA, with India importing about $22 billion in 2023 from the bloc, while India exported only about $3 billion to the bloc. But such free trade deals have not largely helped India’s export …

The View from India | Tricks of trade diplomacy
9 months ago

The View from India | Tricks of trade diplomacy

The Hindu  

When India signed the Trade and Economic Partnership Agreement with a bloc of four European countries — Iceland, Liechtenstein, Norway, and Switzerland — last week, the growing role of trade in diplomacy came under sharp focus. The pact comes on the heels of a host of bilateral agreements with the United Arab Emirates, spanning both trade and investment, following the …

Opinion: India, stability, and 'new world order' - Global security from New Delhi's vantage
9 months ago

Opinion: India, stability, and 'new world order' - Global security from New Delhi's vantage

India Today  

India will head into elections from the middle of next month in what is the world’s largest democratic exercise. At the recently concluded India Today Conclave, the Prime Minister mentioned that India will offer stability and prosperity for an uncertain world in the coming five years. From an Indian perspective, the outreach to the Gulf under Modi is multilayered, ranging …

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 …

Need to reflect on WTO’s mandate
9 months, 2 weeks ago

Need to reflect on WTO’s mandate

Hindustan Times  

The 13th Ministerial Conference of the World Trade Organization has ended without an agreement on any of the major issues. Among the items which prevented a decision — they are only taken when there is unanimity — are issues central to the Global South such as agriculture, fisheries, taxing of global e-commerce giants and areas where advanced countries have precipitated …

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 …

‘Finding equilibrium in ties a test for both India, China’
10 months ago

‘Finding equilibrium in ties a test for both India, China’

Hindustan Times  

One of the biggest challenges for both India and China will be to arrive at an equilibrium and then maintain it, external affairs minister S Jaishankar said on Friday against the backdrop of the dragging standoff between the two sides on the Line of Actual Control. Instead of getting caught up in “mind games” that this is an issue between …

In a tough world, the beacon of U.K.-India strategic ties
10 months ago

In a tough world, the beacon of U.K.-India strategic ties

The Hindu  

Outward facing, mercantile and modern societies, our nations — the United Kingdom and India — have much in common. It is why, in December 2023, the United Kingdom, the United States and other partners joined in Operation Prosperity Guardian to defend and protect commercial shipping in the Red Sea and Gulf of Aden. The U.K. has supported Ukraine continuously and …

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 …

In Moscow to meet Putin and Lavrov, India’s foreign minister praises growing trade
11 months, 3 weeks ago

In Moscow to meet Putin and Lavrov, India’s foreign minister praises growing trade

Associated Press  

MOSCOW — India’s foreign minister met Wednesday with Russian President Vladimir Putin, who said relations between the countries are progressing even amid turbulent times. At the start of the meeting, Putin said he would inform the Indian diplomat about the fighting in Ukraine, on which Indian Prime Minister Narendra Modi has held a neutral stance. “I know about his desire …

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 …

The Israel-Palestine Conflagration Is a Cautionary Tale for India’s Global Ambitions
1 year, 1 month ago

The Israel-Palestine Conflagration Is a Cautionary Tale for India’s Global Ambitions

The Diplomat  

Claims of a “new Middle East” have been quashed as the “old Middle East” has returned with a vengeance: The devastating October 7 Hamas terrorist attacks on Israel have been followed by unprecedented Israeli attacks on Gaza and the resumption of prolonged Israel-Palestine hostilities. Beyond the Modi government’s unequivocal support for Israel the latest hostilities in the Middle East hold …

‘Hope we can get it done’: Rishi Sunak on UK-India trade deal
1 year, 2 months ago

‘Hope we can get it done’: Rishi Sunak on UK-India trade deal

Live Mint  

British Prime Minister Rishi Sunak has reiterated his commitment to closer India-UK ties across different sectors, including a free trade agreement between the two countries. Addressing a reception by the diaspora group Conservative Friends of India on the sidelines of the ongoing Conservative Party conference in Manchester on Monday evening, the British Indian leader began by reflecting upon his “successful” …

How India is diversifying its economic partnerships to reduce a $60 billion trade deficit with China
1 year, 2 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 …

The potential economic and trade fallout of strained Indo-Candian diplomatic relations | Explained
1 year, 2 months ago

The potential economic and trade fallout of strained Indo-Candian diplomatic relations | Explained

The Hindu  

The story so far: The current strain in diplomatic relations between Canada and India has raised concerns about the impact spiralling onto commercial and economic spheres of cooperation. According to Mohit Singla, Chairman at the Trade Promotion Council of India the trade between the countries is “pretty balanced.” He elaborates that Canada is ranked 14th in imports globally, but is …

Dedollarisation: 22 countries exploring bilateral trade with India in rupees, says Nirmala Sitharaman
1 year, 3 months ago

Dedollarisation: 22 countries exploring bilateral trade with India in rupees, says Nirmala Sitharaman

Firstpost  

Union Finance Minister Nirmala Sitharaman said these 22 countries are willing to settle bilateral trade in Indian rupee, ‘because many of… those are running short of dollar’ As many as 22 countries approached India to explore bilateral trade in rupees, Union Finance Minister Nirmala Sitharaman said, adding that negotiations with them are underway. Sitharaman said that these countries are willing …

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 …

G20 Summit: Is India breaking up with Russia?
1 year, 3 months ago

G20 Summit: Is India breaking up with Russia?

Al Jazeera  

As Putin stays in Moscow, India-Russia ties are in decline, while New Delhi’s bond with the West gets tighter. If Modi’s government has refused to join Western sanctions against the Kremlin over the war in Ukraine, there is a history behind that decision: Russia opposed sanctions imposed by the US, Japan and a few other countries on India following New …

India’s rising geopolitical clout will be tested as it hosts the G20 summit
1 year, 3 months ago

India’s rising geopolitical clout will be tested as it hosts the G20 summit

Associated Press  

NEW DELHI — Ahead of India’s hosting of the G20 summit of leading economies, its prime minister invited 125 mostly developing countries to a virtual meeting in January to signal New Delhi’s intention to be their champion on the world stage. Steering through fractures among the world’s various blocs over Russia’s war in Ukraine will be a “diplomatic high-wire act” …

Confident of striking a modern, forward-looking free trade agreement: British PM Rishi Sunak on trade ties with India
1 year, 3 months ago

Confident of striking a modern, forward-looking free trade agreement: British PM Rishi Sunak on trade ties with India

The Hindu  

British Prime Minister Rishi Sunak on September 6 said there was “still some way to go” for a free trade pact with India to be finalised, but appeared confident that the final outcome will be a "forward-looking" and "modern" deal that would benefit both sides and facilitate shared ambition of doubling trade by 2030. In an exclusive interview to PTI, …

G20 Presidency helping India deepen trade ties with member nations: Experts
1 year, 3 months ago

G20 Presidency helping India deepen trade ties with member nations: Experts

India TV News  

According to experts, G20 Presidency is helping India deepen trade ties with other member nations and provides an opportunity to attract investments from those countries in sectors like infrastructure. The largest trade block of G20, the EU, will set in motion the carbon border adjustment mechanism from October 1 this year, making exports expensive from countries like India. Mumbai-based exporter …

Slippery Slope of Geopolitics: The Sino Slide - News18
1 year, 4 months ago

Slippery Slope of Geopolitics: The Sino Slide - News18

News 18  

For four decades, the Chinese juggernaut has been marching forward. By the end of the last decade, the world, including the US, the P5 nations and India, had more or less reconciled to a future dominated by the G2 — the US and China. Indian public opinion now clearly treats China as its enemy number one — a burden that …

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