Indian exporters do not have strong negotiating positions with buyers, and therefore tend to get squeezed out disproportionately when trade hits a rough patch.
The Romans’ version of stoicism is rapidly picking popularity on Instagram — Marcus Aurelius, Epictetus, and Seneca are some names that get thrown at you when you fire up your screen.
Germany’s erstwhile Christian Democratic Union govt, led by Angela Merkel, prevented sale of small arms to police forces in states they perceived had ‘bad human rights record’.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
This ignores the real problem: an overvalued Rupee. With all global markets on an upswing, unemployment levels at record low levels India is missing out. A 5-7% devaluation will change India’s fortunes and may even bring back BJP next year.
It indeed is sectoral. For instance, IT services exports have virtually become now a slow growth industry owing to maturity of the industry and not as many low hanging fruit; likewise indian pharmaceutical exports are suffering dramatic price erosion. Other sectors too might be facing similar challenges. We need newer growth engines and unfortunately they have been very slow to come by.
No obvious answers suggest themselves after reading the column. There is another reason to exclude exports of petroleum products and even gems and jewellery for the purpose of studying trends of export growth, for there is much lower value added, as compared to say, exports of automobiles or engineering goods. The focus, to reduce the merchandise trade deficit, will have to be on manufactured goods, with high local content. The sharp turn towards protectionism will not help, for it will insulate the Indian economy, make it even less globally competitive. At a time when remittances and software exports are levelling off, we cannot sustain a trade deficit approaching $ 200 billion a year.
This ignores the real problem: an overvalued Rupee. With all global markets on an upswing, unemployment levels at record low levels India is missing out. A 5-7% devaluation will change India’s fortunes and may even bring back BJP next year.
It indeed is sectoral. For instance, IT services exports have virtually become now a slow growth industry owing to maturity of the industry and not as many low hanging fruit; likewise indian pharmaceutical exports are suffering dramatic price erosion. Other sectors too might be facing similar challenges. We need newer growth engines and unfortunately they have been very slow to come by.
No obvious answers suggest themselves after reading the column. There is another reason to exclude exports of petroleum products and even gems and jewellery for the purpose of studying trends of export growth, for there is much lower value added, as compared to say, exports of automobiles or engineering goods. The focus, to reduce the merchandise trade deficit, will have to be on manufactured goods, with high local content. The sharp turn towards protectionism will not help, for it will insulate the Indian economy, make it even less globally competitive. At a time when remittances and software exports are levelling off, we cannot sustain a trade deficit approaching $ 200 billion a year.