-Scroll.in The Indian government will have to take serious note of the structural problems and bottlenecks to work on improving the production-linked incentive scheme. On December 20, the Indian government approved a Rs 357.17-crore incentive for Foxconn India, under the Production-Linked Incentive scheme for the Large-Scale Electronics Manufacturing sector. According to government think tank Niti Aayog, Foxconn India is the “first global company” approved under the scheme for mobile phones and to receive...
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In U.S. actions, the worry of global trade lawlessness -Prabhash Ranjan
-The Hindu The WTO Panel reports are a pointer to the U.S. — the once undisputed trade hegemon — turning away from free trade and moving toward growing Protectionism In a significant development in international trade law, four separate World Trade Organization (WTO) Panel reports have ruled that the tariffs of 25% and 10% on steel and aluminium, respectively, that the United States (U.S.) had imposed during the presidency of Donald Trump...
More »How India Was Stripped of Its Atmanirbharta in the Edible Oil Industry -BM Vyas and Manu Kaushik
-TheWire.in The rise and fall of the biggest importers of edible oil in the world. ‘Freedom is the greatest fruit of self-sufficiency’ – Epicurus The COVID-19 pandemic has been detrimental for globalisation and has led to a clamour for Protectionism. India’s national strategy is also in line with this trend with calls for ‘Atmanirbharta’ and ‘vocal for local’ increasing. Traditionally, India was an exporter of edible oil before Independence, became self-sufficient post-Independence (till the early 1970s),...
More »Fingers burnt in FTAs, India now stays out of RCEP -Puja Mehra
-Livemint.com * RCEP negotiations started in 2013 but acquired fresh impetus after the rise of Protectionism globally that saw the US pulling out of the Trans-Pacific Partnership * India has seen its trade deficit with most countries rising manifold after an FTA was operationalized India on Monday decided against joining The Regional Comprehensive Economic Partnership (RCEP), a trade pact that has been spearheaded by China with the 10-nation Asean and four others. Mint...
More »India must reform its seed sector before RCEP takes effect -Indra Shekhar Singh & Prabhakar Rao
-The Hindu Business Line The RCEP agreement, if implemented, will allow other countries to dump excess seeds in the Indian market. The current 100% FDI policy also threatens seed sovereignty With a confirmed Brexit, the days of liberal globalisation are numbered. Open borders, FTAs and multilateral agreements find no takers in the White House either. Leaders Boris Johnson and Donald Trump have heralded a clear and blunt message of tariffs, conservative economics...
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