Over past 3 years, commerce ministry data on bilateral trade with China has hovered around $95 bn. Data from Chinese govt over last 3 fiscals shows figures steadily above $110 bn.
India's trade boom with Russia & strategic interests in Chabahar Port have brought International North South Transport Corridor (INSTC) back into focus.
Sectors like fertilisers, oil, auto, chemicals, textiles & metals could be further affected, it warns in monthly report. Diversifying trade routes could lower competitiveness of exports.
India and 4 member countries of European Free Trade Association have held 13 rounds of negotiations between 2008 & 2013. Negotiations were placed on hold before resuming in October 2016.
The corridor, announced on sidelines of the G20 summit, aims to extend from India across the Arabian Sea to UAE and through Saudi Arabia before connecting through Jordan & Israel to Europe.
India's trade minister Piyush Goyal and his US counterpart Katherine Tai held their annual trade policy talks in New Delhi on 12 January. Tai is on a three-day visit to India.
Trilateral dialogue comes as India attempts to position itself as a manufacturing hub of critical technologies such as semiconductors, where South Korea is a global leader.
Imbalance in Russia-India trade & US sanctions have meant Russia is accumulating rupees it can’t use. At stake could be a significant part of India’s imports from Russia.
Report also notes that India accounts for 11% of globally seized value of perfumes and cosmetics, and is one of the major hubs & sources of such counterfeits.
The issue of inequality has assumed the blazing limelight at a time when inequality in India is said to be higher than it was in the British Raj. It's a ripe situation for half-truths and incendiary statements.
Speaking at launch of economist Surjit Bhalla’s book, S Jaishankar also highlights Gen Z’s engagement with ‘reel culture’, which has 'promoted awareness, created interest in many subjects'.
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.
Excellent excellent report !! Had read the story two years ago. Thanks for following this & other trade issues. Would you know which method is followed internationally COC or COO ?
Excellent excellent report !! Had read the story two years ago. Thanks for following this & other trade issues. Would you know which method is followed internationally COC or COO ?