Global Trade

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

From services trade trends and POSH gaps in IT firms to rupee volatility, labour reforms, and Arctic geopolitics, here are the key insights from today's Business Standard Opinion page

Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade

Policy must now assume depoliticised global trade is over, with US-led politicisation meaning no country treats globalisation as an end

There have, no doubt, been admirable efforts by the government to cushion the energy shock emanating from the Gulf, but there is only so much it can do in such global circumstances

The larger takeaway from MC14 is the fragmentation of global trade governance

India supports easing investment flows into developing nations but maintains WTO is not the appropriate platform, reiterating opposition to IFD proposal

The US has called for a rethink of the MFN trade principle ahead of WTO's 14th ministerial meet, citing changing economic realities and concerns over reciprocity

Expectations this time are low for an institution that governs 98 per cent of global trade, worth over $35 trillion, due to a deep divide over its direction

The global trade growth is expected to slow down to 1.9 per cent this year amid the West Asia crisis, the WTO said on Wednesday. WTO economists warn that the ongoing conflict in West Asia could further reduce trade growth if energy prices remain elevated, it said. It would also put pressure on food supplies and trade in services due to travel and transport disruptions. "...global merchandise trade growth would slow to 1.9 per cent in 2026 from 4.6 per cent in 2025, as trade is expected to normalise, following a surge in AI-related products and the front-loading of imports to avoid new tariffs," according to the WTO's Global Trade Outlook and Statistics. The forecast does not augur well for India as the country is looking to boost its shipments. WTO Director-General Ngozi Okonjo-Iweala said this baseline forecast is under pressure from the conflict in the Middle East. "Sustained increases in energy prices could increase risks for global trade, with potential spillovers for food ..

WTO meet in Cameroon tests global trade unity as India pushes reform with pragmatism amid rising geopolitical tensions and shifting economic priorities

Black Sea shipments drive surge in Russia's seaborne grain exports in February despite slower season-to-date volumes

Under its baseline forecast, Goldman expects oil prices to increase a bit further before moderating to $76 per barrel on average in the first quarter of 2026 and $65 in the fourth quarter

Oil imports account for 3.1% of gross domestic product, and according to Nomura, every 10% rise in oil prices worsens India's current account by 0.4 percentage point

The US Supreme Court's tariff ruling dents Donald Trump's leverage, reshaping global trade talks and placing India in a relatively stronger negotiating position

India and the US have announced a trade deal to ease tariffs. Here's how the India-US trade relationship compares with India's major partners and the world's largest trade corridors

As the rules-based order fractures, geopolitics, minerals and energy rivalries are reshaping climate action, trade, and the future of global cooperation