Global Trade

India's merchandise trade deficit widens to a record $37.8 bn in Nov

Exports contract 4.85% to $32.1 billion; imports increase by 27% to $69.95 bn

Asia-Pacific credit volatility expected in 2025 amid slow growth: S&P

Forecasts on credit conditions become unstable as trade and foreign policy under Trump 2.0 administration remain unclear

Potential shifts in US trade policy to affect trade in 2025: Unctad

Tariffs imposed on specific segments of global value chains often have a ripple effect, impacting not only the targeted industries and countries, but also the entire value chain

Longer ship routes causing delays, impacting global trade: Piyush Goyal

The long voyage time due to ships taking longer routes through Cape of Good Hope has impacted global trade, including Indian exports, Commerce and Industry Minister Piyush Goyal said on Tuesday. This has resulted in increased time for goods to reach international markets, he said. "No shortage of containers has been, however, reported on account of the longer voyage time or the Red Sea conflicts issues and Russia-Ukraine War," the minister said adding regular interactions are done with shipping lines, port/ terminal, and export/import associations to assess for possible interventions. He added that there is limited demand for containers manufactured in India and accordingly the limited manufacturing capacity for containers in India. The container manufacturing industry is dominated by economies of scale that favour established manufacturers from other countries, who benefit from lower production costs, advanced technologies, and immediate cargo loading opportunities. "The long voy

Sustainability playing important role in global trade discussions: Official

New elements related to sustainability, inclusivity and security are now playing an important role in global trade discussions and they would dictate the future talks, a senior official said on Tuesday. Additional Secretary in the Department of Commerce L Satya Srinivas also emphasised on the importance of adopting a holistic perspective on the commercial significance of free trade agreements (FTAs) for the country. "On the plate of trade, there are vast new dimensions getting added...How do we deal with those new dimensions...These new regulations and new focus areas of present will dictate our trajectory towards the future," he said at CII's Partnership Summit here. Earlier in trade discussions, the main issues which used to figure included reduction or removal of customs duties and non-tariff barriers. In addition to these, now "new dimensions are coming into the trade play which is sustainability and security induced," he said, adding these issues like environment and labour ar

India's decision to opt out of RCEP agreement strategically sound: GTRI

India's decision to opt out of the trade bloc RCEP was strategically sound as the country has the largest trade deficit and trust issues with China, think tank GTRI said on Friday. India's trade deficit with China stood at over USD 85 billion in FY2024. "Had India joined RCEP, the situation could have worsened drastically, as it would face zero-tariff imports from China, risking further imbalance," the Global Trade Research Initiative (GTRI) said. In 2019, India announced that it would not join the China-backed mega free trade agreement -- Regional Comprehensive Economic Partnership (RCEP) as negotiations failed to address New Delhi's outstanding issues and concerns. "India's decision to opt out of the RCEP was strategically sound, as subsequent developments have validated its concerns over potential economic imbalances, which increasingly favours China over other member nations," GTRI founder Ajay Srivastava said. The remarks assume significance as Niti Aayog CEO BVR Subrahmanyam

India must infuse flexibility in policy amid shifting global trade dynamics

India needs to develop a better understanding of the evolving dynamics of global trade institutions and trade rules among its trade negotiators

G20 ministers agree global trade may help sustainable growth, women's role

Proposals agreed by G20 trade ministers meeting in Brasilia will be proposed to group's leaders at the annual summit hosted by Brazil in November in Rio de Janeiro

IDA, Invest India partner for global trade fair on skill, education sector

India Didactics Association on Thursday said it has collaborated with Invest India for global trade fair -- Didac India, to boost investment in the country's promising education and skill sector. Invest India is the National Investment Promotion and Facilitation Agency that helps investors looking for investment opportunities in India, a statement said. According to the statement, with 13 years of success, Didac India is the largest event in Asia and the only one in India for educational resources and solutions for all levels and segments. India Didactics Association (IDA), a pan India association for the education and skills sector and Messe Stuttgart, a global exhibitor are jointly organising Didac India 2024. The upcoming 14th edition is set to take place from September 18-20, 2024 in the national capital. Aditya Gupta, CEO, IDA said this collaboration will help in creating new investment and growth avenues for the sector. "We are confident that the 14th edition of Didac India

Colombian rebels, world's oldest guerrilla force revive war on oil firms

The rebels have long viewed the oil industry as a military target as well as a cash cow, its antagonism comes from its belief that Colombia should have sovereignty over its natural resources

IMEC to cut logistics costs and boost maritime security, says Piyush Goyal

IMEC aims to boost economic development by fostering connectivity and economic integration between Asia, the Persian Gulf, and Europe

India lags in filling void left by Chinese export retreat: World Bank

India's share of global apparel exports has decreased from 4 per cent in 2018 to 3 per cent in 2022, mainly due to rising production costs and declining productivity, according to the World Bank

Rupee rises 5 paise to 83.88 against US dollar in early trade on Friday

Rupee traded in a narrow range and appreciated 5 paise to 83.88 against the US dollar in morning trade on Friday, supported by easing crude oil prices and fresh foreign fund inflows. Forex traders said significant correction in oil prices, which is hovering around USD 77 per barrel, is a major positive for the rupee, given India's substantial oil imports. At the interbank foreign exchange market, the local unit opened at 83.93 and then gained ground and touched 83.88, registering a rise of 5 paise from its previous close. On Thursday, the rupee traded in a narrow range and settled lower by 3 paise at 83.93 against the American currency. "Despite the dollar index reaching a recent low, the Indian rupee remains steadfast, showing little signs of strengthening. This resilience can be attributed to the central bank's deliberate interventions, aimed at stabilizing the USDINR around the 83.90-95 range," CR Forex Advisors MD-Amit Pabari said. Meanwhile, the dollar index, which gauges the

China's exports likely expanded in July lifted by global trade upturn: Poll

Trade data on Wednesday is expected to show exports grew 9.7 per cent year-on-year by value, according to the median forecast of 30 economists in a Reuters poll

Global ocean freight market faces high costs, Red Sea conflict disruptions

The detour around Africa has increased both shipping costs and delivery times, exacerbating the challenges faced by global trade, which is still recovering from a host of geopolitical issues

Global trade trends and Budget initiatives

The Budget signals a move towards a more open trade policy, but further broadening and deepening are essential

Rising freight costs, container shortages paralyse global trade recovery

Red Sea crisis causing global shipping disruptions reminiscent of those seen during Covid-19 pandemic

Decoding the 'Swift' payment system: Why it may crop up in Modi-Putin talks

Prime Minister Modi and Russian President Putin are set to hold key bilateral talks in Moscow today to discuss a wide range of issues as part of the 22nd India-Russia annual summit

Red Sea crisis is increasing the distance and time of global sea transport

These longer routes are detrimental to global efforts to reduce carbon emissions as ships are re-routing thousands of miles around Africa's Horn to avoid the Red Sea and Gulf of Aden

Was global trade a mistake?

The late-20th-century project of integrating China into the global economy, in the hope that economic development would come hand in hand with political liberalism, feels at best misguided