Global Trade

India's FTAs can boost export-led growth, but sustainable gains will depend on responsible subsidies, stronger labour standards and environment-friendly production

Commerce Minister Piyush Goyal says India's export target is achievable despite subdued global trade growth, citing strong domestic businesses, MSMEs and new FTAs

India and 13 other countries have called for coordinated global action to curb excess industrial production that distorts markets, hurts domestic industries and contributes to an imbalance between supply and demand. The countries issued a joint statement on Wednesday after meeting on the sidelines of the Organisation for Economic Co-operation and Development (OECD) Trade Committee deliberations in Washington. "We call on all countries to take steps to eliminate structural excess capacity and production in their economies, including by ending the use of non-market policies and practices that distort markets and contribute to the problem," the joint statement said. Building on discussions at the G20 Trade Ministerial in Milwaukee, the economies joined the US in signing a Joint Ministerial Statement to work together through new, dedicated sectoral platforms to examine and take effective action against structural excess capacity and production in several key sectors of concern, the offi

Urges trade and energy diversification as US tariffs and West Asian conflict escalate crude import pressures

The New Delhi Declaration is impressive but requires immediate follow-up action from India on its trade policies and WTO reform

Foreign Secretary Vikram Misri says semiconductor self-reliance requires sovereign capabilities in critical areas while maintaining global partnerships and openness

The EU wants Canada to become its first 'associate member', paving the way for closer economic and defence ties, but the proposed status has no established legal framework yet

Beijing has started making laws for the world

BRICS leaders stopped short of endorsing concrete steps on payment-system interoperability and local-currency trade, leaving India's long-running push without a firm action plan

The reference to unilateral trade and finance-related actions is significant as the US has pursued sweeping tariff measures against trading partners

The fact that Beijing stands isolated on this issue is a signifier of the fact that it has consistently refused to address these concerns, and is now in fact denying that they even exist

Today's Best of BS Opinion examines rising sugar prices, AI-led credit assessment, global trade dualism, mounting US fiscal risks and China's reshaping of collective memory.

India's eighth WTO Trade Policy Review highlights its growing global trade footprint, digital transformation and FTA push while balancing openness with domestic development priorities

Harsh Pati Singhania says his ICC tenure will focus on giving developing economies a stronger voice in global trade, AI governance and digital standards

Harsh Pati Singhania, the Chairman & Managing Director of JK Paper Ltd and Director of JK Organisation, has been elected Chair of the International Chamber of Commerce, according to a statement. Singhania was elected as Chair after a meeting held at the ICC Global Headquarters in Paris on Thursday, the statement said. Addressing ICC National Committees, Singhania said, "It is a great honour to take on the role of Chair of the International Chamber of Commerce, an institution that has stood for more than a century as a force for open markets, trusted rules and human progress." Outgoing ICC Chair Philippe Varin assumes his new role as ICC Honorary Chair, continuing his engagement with the organisation. PTI RSN 1.0.

From China's bid to expand the renminbi's global role to India's data centre boom, Narendra Modi's next challenges and Pope Leo XIV's views on AI, here's the best of BS Opinion

New global trade reports highlight that technological capability and regulatory compliance - not just tariffs - are becoming the key drivers of trade competitiveness

The intra-BRICS trade has increased multiple times over the last few years but it accounts for only around 5 per cent of the global trade, reflecting huge untapped potential for deeper integration and stronger value-chain linkages, Commerce Secretary Rajesh Agrawal has said. BRICS is a grouping of 11 developing countries - Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates. It acts as a platform for consultation and cooperation on contemporary issues having global as well as regional significance, and issues of global political and economic governance. India has assumed the BRICS Chairship for the fourth time, after 2012, 2016 and 2021. Addressing the 2nd Meeting of the BRICS Contact Group on Trade and Economic Issues, held in Gandhinagar, Gujarat, on May 14-15, Agrawal said intra-BRICS merchandise trade has risen 13-fold, from USD 84 billion in 2003 to USD 1.17 trillion in 2024. However, he said, this "trade sti

Updated ICC Arbitration Rules from June 2026 aim to streamline global dispute resolution with faster procedures, stronger digital tools and greater procedural clarity

Shares in South Korea and Taiwan have rallied the most in the world this month, with the surge in the Kospi index taking it up 78 per cent for the year