)
Ajay Srivastava is a former Indian Trade Service officer with expertise in trade policy making and WTO/FTA negotiations. He took VRS from the Government of India in March 2022 and is the Founder of the Global Trade Research Initiative (GTRI). He writes on technology and trade issues.
Ajay Srivastava is a former Indian Trade Service officer with expertise in trade policy making and WTO/FTA negotiations. He took VRS from the Government of India in March 2022 and is the Founder of the Global Trade Research Initiative (GTRI). He writes on technology and trade issues.
For the past two years, Mr Trump and his team have pressed India and other nations to stop buying Russian oil and shift to US barrels
This makes compliance costly, reduces the number of suppliers, and risks creating a system even worse than the old licensing raj
From protectionism to liberalisation - it sets a new template for India's future FTAs
Responding to the blowback, the White House softened its stance on April 9, imposing a 90-day pause and a uniform 10 per cent tariff on most imports, excluding China
In the 1960s and early 1970s, India faced food shortages and depended on US food imports under PL-480 - a US law that allowed surplus food to be sold or donated to countries like India
While the full FTA text remains undisclosed, publicly available details reveal signs of concern. This write-up flags three key issues
In the uncertain global environment, India committing to a comprehensive FTA would be risky
India could reduce its tariffs to zero on these products in exchange for the U.S. doing the same, which would be an immediate benefit for India
Average tariff levels: India's average import tariff stands at 17 per cent, while the trade-weighted rate is lower at 12 per cent, according to the World Trade Organization's 2024 report
To counter China's trade dominance and boost US manufacturing and jobs, a strategy beyond high tariffs is essential
India must avoid being caught off guard on trade, tariffs, outsourcing, and data policies, and engage with the US as an equal partner
US' trade policy highlights India's need to follow its own strategic priorities without yielding to external pressure
We should be wary of global consultants pushing grand visions of India becoming a $50 trillion or $100 trillion economy, especially when per capita income is still under $3,000
High cost of doing business and geopolitics limit opportunities
Other business services emerge as India's new export star, which could outpace software and information technology with strategic support
Nine suggestions to revitalise trade and spur economic growth
The high import and low export trend is likely to continue with free-trade agreements under negotiation
As seen in Australia, tariff cuts may have an unwelcome outcome for domestic car makers
India faces complex negotiations ahead that could restrict domestic policy space and economic interests
The Abu Dhabi conference highlights any progress for India at the WTO hinges on renewed US engagement in the trade body