PROTECTIONISM
A 60% fall! Does falling FDI call for policy recalibration?
RBI reported a 62% drop in net FDI flows into India to USD 10.6 bn in FY24, the lowest since 2007. Select sectors benefit from the "China+1" trend, attracting opportunistic foreign investments. India requires comprehensive policy recalibration, aligning with sectoral strengths, and genuine market access.
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
R Gandhi welcomes RBI's focus on banking safety and payment system soundness
RBI has been paying more attention on that in recent months, especially the disclosure, relating to the terms and conditions of the most important terms and conditions of the credit that is being offered by the credit institutions and there that is the first step which had already been taken.
General elections 2024: A weaker mandate to impel policy reset
The underwhelming election results reflect voters' focus on economic and livelihood issues over free-food distribution. The need for productive employment is becoming a dominant necessity in policy considerations.
A new trade war offers no easy way back for old global order
The US-China trade war has intensified with the use of tariffs and subsidies, impacting Europe and China. US Treasury Secretary Janet Yellen has warned of global business risks.
China’s $8.5 billion in steel spurs Latin America toward tariffs
Mexico, Chile, and Brazil have increased duties on steel products from China. In some cases, the duties have more than doubled over the past few weeks. Colombia may also be planning to do the same.
Biden's China tariffs are the end of an era for cheap Chinese goods
Biden's decision this past week to codify and escalate tariffs imposed by Trump made clear that the United States has closed out a decades-long era that embraced trade with China and prized the gains of lower-cost products over the loss of geographically concentrated manufacturing jobs. A single tariff rate embodies that closure: a 100% tax on Chinese electric vehicles, which start at less than $10,000 each and have surged into showrooms around the world but have struggled to crack government barriers to the U.S. market.
India needs to reduce trade tariffs, simplify procedures and remove protectionism: NITI Aayog CEO BVR Subrahmanyam
Speaking at Confederation of Indian Industry’s Annual Business Summit 2024, Subrahmanyam listed out the need for fundamental reforms in education and skilling, need for intervention to enhance the women labour force participation rate and plethora of policy measures in agriculture along with greater private sector investment in infrastructure and governance reforms.
A clean technology trade war shows how empires fall
China produces 84% of the world’s solar modules and 86% of its lithium-ion batteries, as well as 67% of the nacelles that join wind turbines' blades to their towers, and 70% of electrolyzers for manufacturing green hydrogen.
Global trade to pickup in 2024: WTO
India clocked $451 billion goods export in FY 23 and $394.99 billion in April-February FY24. In its latest Global Trade Outlook and Statistics report, India’s share of global goods exports was 1.8% in 2023 and imports was 2.8%. In digitally delivered services, India’s share rose to 6% in 2023 from 4.4% in 2019. In global commercial services, India’s share in exports is seen 4.4% in 2023 at $344 billion, up 11% on-year whereas imports were flat at $247 billion.
"India will be world's premier manufacturing, service hub": Swiss Secretary lauds India-EFTA Trade Economic Partnership Agreement
Swiss State Secretary lauds the USD 100-billion free trade pact between India and EFTA. India will be the premier manufacturing and service hub. Swiss market is open for Indian goods. Switzerland plans to invest 100 billion USD in India.
ET GBS 2024: Choking! Carbon clubs spell hazy future for developing countries, says former WTO DG Azevedo
Robert Johnson from the Institute for New Economic Thinking (INET) emphasizes the need for nations to think globally and protect all humans affected by carbon burning. He suggests that low-wage labor may not be the solution for development and discusses the anxiety in Europe regarding migration from Africa and the Middle East.
Europe wary of clean-tech protectionism on green-transition cost
Negotiators are set to conclude talks Tuesday on the Net Zero Industry Act — the EU’s answer to the US’s Inflation Reduction Act — that aims to ensure that the region’s energy transition isn’t accompanied by a mass flight of the critical industries needed to power it.
SC halts controversial remission in Bilkis Bano case: Justice prevails over politics
The narrative delves into geopolitical realpolitik akin to FDR's remark on dictators. Highlighting the Supreme Court's reversal of Gujarat's controversial relief to 11 convicted in the Bilkis Bano case, it critiques the political motivations behind the act, emphasizing the heinousness of the crime and the importance of justice over political maneuvering. It stresses the need to uphold justice irrespective of political agendas in granting remission for crimes of significant magnitude.
The world is looking at sustainable supply chain & India has tremendous opportunities: FIEO’s Sahai
The country is insulated from economic shocks or geopolitical uncertainty, says FIEO CEO, asking entrepreneurs to focus on innovation and R&D to counter global challenges.
NATO urges common standards and curbs on protectionism to boost artillery output
Admiral Rob Bauer, head of the North Atlantic Treaty Organization's military committee, called on member countries to stop protecting national arms makers, whose current business model he compared to that of companies producing printers. "The manufacturer will not get rich because of the printers that they make, but because of the ink," Bauer told Reuters in an interview published on Tuesday.
Self-reliant India should not be mistaken as "economic protectionism": S Jaishankar
India's External Affairs Minister, S Jaishankar, clarified that the concept of a self-reliant India should not be mistaken for economic protectionism. He emphasized that India is open to collaborations, but on its own terms and strategic pathways. Jaishankar explained that India actively invites foreign investment and technology, but wants collaboration to be done in a way that aligns with India's interests and goals.
G20 Delhi Declaration: WTO reform, discouraging protectionism, mutually supportive trade and green policies
The G20 reiterated their commitment to reforming the World Trade Organization (WTO) and resolving disputes. They emphasized the need to avoid discriminatory green economic policies and promote fair competition. The G20 also expressed support for positive outcomes at the WTO's Thirteenth Ministerial Conference.
Protectionism 2023? Not quite so PC
India's notification this week requires importers of IT hardware to obtain a permit from the Directorate General of Foreign Trade (DGFT), which promises to issue these expeditiously. Whiffs of protectionist-era India when 'if you couldn't beat or join them, block them'? Not quite.
Load More
