Instead of abrupt and stringent measures, Modi govt should focus on long-term solutions to tackle fluctuations in the prices of agricultural commodities.
Europe's share in Indian exports has gone up while Asia’s share is declining. The problem for India is: Europe’s economy is expected to struggle while Asia is set to drive global growth.
Modi govt needs to own its globally disruptive policies taken in India's interest. The suddenness of export bans hurt India's friends and go against its vishwa guru ambitions.
In latest move, China put export curbs on 2 chipmaking minerals. Experts say long-term impact of such tactics will be less on markets and more on geopolitics of global supply chains.
So far, reversal of trade-policy reforms was confined to jacking up tariffs, but govt has re-introduced physical controls, regressing to the mindset that created the licence-permit raj.
Malaysia will halt exports of 3.6 million chickens a month from 1 June, which is likely to hit countries like Singapore, Thailand, Brunei, Japan and Hong Kong.
Modi govt's ‘deal’ for the farmer is: ‘Heads I win, tails you lose’. Just when farmers might receive a decent price, the govt floods the market with imports or bans exports.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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