Global trade slowdown is far worse than projected and the trend is leading to greater protectionism, writes FICCI president.

If you are concerned with slowdown in world trade, think again. It is indeed far worse than what we commonly believe. As the July-report of ‘Global Trade Alert’ pointed out, world trade is not just slowing down – the fact is it has not grown at all since January 2015. Such a prolonged phase of ‘no growth’ in global trade is worrisome and expectedly, it is accompanied by a spurt in protectionism.

A free trade agreement between India and the European Union (EU) has already been nine years in the making and the pro-Brexit vote in the UK to exit the economic bloc is unlikely to come as a fillip.

Negotiations for a free trade agreement (FTA) between India and the European Union (EU) have been in the works since 2007. Neither side has been willing to give up on key concerns. For India, these include easier access for its ...

As India takes its place as the fastest growing economy within the global economic order, it is about time the government looked at appointing a dedicated “Indian Trade Representative”, argues India Inc. CEO.

Does India need a dedicated office of a Trade Representative (TR) akin to the United States Trade Representative (USTR)? India has ongoing bilateral and multilateral trade negotiations with the European Union, Thailand, Asean and the Gulf Cooperation Council, among more than a dozen countries and blocs. Then, it has, at last count, at least 45 trade disputes with...

India has resisted pressure on opening up certain areas while the US and Europe are not equally forthcoming, with reciprocity being its mantra on global dealings.

Consider this: An Indian company operating in the US will have to pay additional visa fees of $4,000-4,500 for some H1B and L1 visa applications, according to the Consolidated Appropriations Act 2016 that was signed into law by President Barrack Obama in December last year.

A senior academic with expertise in international trade agreements explains why India and the US still have much ground to cover in terms of trade ties.

Notwithstanding their geo-strategic bonhomie, India and the US remain far apart on international trade. The distance arises from their inabilities to reconcile to a bilateral trade relationship simultaneously accommodating both of their major sources of distinct global comparative advantages. These advantages for the US are in export of intellectual property (IP) – intensive goods and services such as pharmaceuticals and entertainment and education products – whereas for India, they are in...

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