trade liberalisation

Economists say that if the situation does not improve in the coming days, then more hikes may be in the offing. However, the approach of gradual hikes in petrol and diesel prices is to avoid an immediate inflation shock to the economy.

India is significantly boosting defence spending and prioritizing domestic production, aiming for self-reliance and export growth. New policies like 'Make in India' and DAP 2020 are reshaping procurement, encouraging local manufacturing and foreign collaboration. Despite global supply chain challenges, indigenous production and exports are rising, signaling a strategic shift towards greater defence capability and autonomy.

PM Modi has called on citizens to adopt measures aimed at conserving foreign exchange, as the surge in oil prices triggered by the Iran conflict has intensified pressure on the rupee and strained India’s foreign exchange reserves.

The Indian rupee is facing significant pressure, weakening against the US dollar due to soaring crude oil prices driven by Middle East geopolitical tensions and persistent foreign fund outflows. Despite India's robust economic growth, the currency's slide continues as the Reserve Bank of India intervenes to curb volatility rather than target a specific exchange rate.

India and New Zealand have signed a 'once-in-a-generation' trade pact, granting Indian exporters duty-free access to New Zealand. The agreement aims to double bilateral trade to $5 billion in five years and includes a $20 billion investment commitment from New Zealand. Both nations are optimistic about the pact's potential to boost economic growth and cooperation across various sectors.

Withdraws directives as volatility eases, some controls stay

The sudden nature of the measures and tighter controls risk creating an impression that India may be stepping back from its efforts to deepen integration with global financial markets.

Fundamentally, foreign exchange reserves tell us about a country’s ability to service its external debt. The more robust the cover, the better a country’s position of economic strength. So how strong is India placed in terms of foreign exchange reserves?

The Reserve Bank of India has tightened its grip on currency markets by imposing new restrictions on rupee-linked derivatives. Banks are now barred from offering non-deliverable contracts to both residents and non-residents, aiming to curb offshore speculation. The RBI also reinforced rules for hedging genuine risks, signaling a decisive move to regain control over rupee price discovery amidst global uncertainties.

India's revised Press Note 3 aims to ease Chinese investment but retains strict joint venture rules, limiting FDI. This approach, seen as economically self-defeating, overlooks China's technological prowess and global investment patterns. Experts argue controlled Chinese investment, not exclusion, could actually enhance India's security leverage.

Six years after locking foreign capital out of the door, India has opened it — just wide enough. The Cabinet's amendment to Press Note 3 clears the fog around who can invest from where. What it does not do is throw open the floodgates.

NEW DELHI: Acknowledging the impact of trade liberalisation on poverty alleviation, UNCTAD on Sunday urged India and other developing countries to further reform their economic policies, by cutting down on tariff rates and addressing trade distortions.

NEW DELHI: The government on Monday hinted at further liberalisation of trade in the textiles sector to integrate Indian industry with the world economy.

As per the present arrangement, India can export only 29 items while China can sell 15 commodities to India.

CHANDIGARH: A lecture on `Globalisation and Appropriate Governance' was delivered by Prof Jagdish N Bhagwati, Arthur Lehman, Professor of Economics and Political Science, Columbia University, New York at the Department of Economics Panjab University. Dean university instructions Ashok Sahni, presided over the lecture.

The Ministry of Industries in Pakistan has recommended granting of MFN status to New Delhi.

India and the United States are commencing discussions this week for a Bilateral Trade Agreement, starting virtually before an in-person meeting in May. This follows Prime Minister Modi and President Trump's agreement to strengthen ties, aiming to finalize the trade deal by fall. Both nations seek to expand bilateral trade to $500 billion by 2030.

Import substitution cannot deliver “Make in India for the World”

India upped the ante against WTO members like the US and the EU which are not providing adequate number of visas to Indian professionals.

The US on Monday said further liberalisation of technology trade was in the offing with the administration planning to allow licence-free trade in dual-use products.

A trade row could be in the offing with India on Tuesday saying it was unwilling to soften its stance on WTO's farm trade liberalisation talks even if it meant losing preferential export benefits from the US.

Budget’s right on capex, direct taxes, reworking the SEZ law, but high on protectionism

LONDON: PM has said India does not see outsourcing as an issue in its relations with the US and hoped an objective view will emerge on the backlash against it in America.

India is considering a Free Trade Agreement (FTA) with China but a decision will be based on sensitivities of domestic industry, Government told Rajya Sabha on Wednesday.

WTO director general Pascal Lamy was greeted with protests but that did not deter him from asking India to lower its import duty.