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's beloved chai faces unprecedented challenges. Climate stress, rising costs, and global conflicts are impacting tea production and exports, making your daily cup more expensive. Despite these pressures, the nation's deep emotional connection to tea, a symbol of hospitality and connection, ensures its enduring cultural significance.

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.

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.

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.

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.

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.

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.