BUSINESS
WTO Ministerial Conference: India’s food security demands a strong stand on the ‘peace clause’
The so-called peace clause, allowing member countries to breach the subsidy limits specified in the WTO Agreement on Agriculture for food security programmes, has not, however, been made a permanent provision. Instead, it gets extended on a temporary basis. The challenge for India is to make this a permanent facility so that disputes aren’t raised at the trade body over breach of subsidy limits
BUSINESS
Budget 2024: Focus on growth to protect against global headwinds
Budget 2024: The risks to global supply chains from war and lower demand in key economic markets will have to be addressed by policies that take a long term perspective on growth. India has to address factors that hobble it in the competition with other investment friendly destinations like Vietnam and Indonesia
BUSINESS
Global oil in softening mode: Bonanza for India
The war in Ukraine had led to a spike in India’s oil import bill in the last fiscal. But softening oil prices aided by difference in OPEC+ on cutting production, muted demand from China, and swelling US inventories positions could leave the Indian exchequer with a lighter oil import burden compared to 2022-23
BUSINESS
The perils of forecasting when oil markets are on a rollercoaster
The future outlook for global oil prices has thus become increasingly uncertain, given the factors that could impact their movement. Some drivers are easier to predict like the rise in demand and overall availability of crude oil and refined products. It is difficult, however, to predict the course of geopolitical tensions that are increasingly gripping the world
BUSINESS
G20 Declaration recognises global challenges. Execution plans vital
The New Delhi Declaration has thus taken a comprehensive overview of the challenges facing both the Global North and South in the light of the current geopolitical situation. The fact that there has been a harmonious agreement on an enormous number of issues indicates the group is operating productively
BUSINESS
PM has echoed the concerns of Global South on multilateralism
Given the fact that the WTO’s decline has impacted the developing world far more than advanced economies, it is notable that India has made efforts during the G20 presidency towards strengthening the multilateral trading system
BUSINESS
It’s India’s moment in the sun. More reforms will increase its attractiveness to investors
The ‘China Plus’ policy being followed by many multinationals has also brought India into the limelight as investors search for alternative manufacturing centres
BUSINESS
OPEC output cut: Outlook depends on geopolitical scenario
The OPEC gambit is bad news for India which imports 85 per cent of its requirements. Even the discounts on Russian crude oil will not be able to overcome the higher costs of total oil imports during 2023-24
BUSINESS
Mobile Phone Exports: India bucks global trend but needs to offer more policy support
The PLI scheme, attractive though it may be, needs to be accompanied by creating an easier environment for foreign investment. Procedures and regulations continue to abound in this country, as well as unexpected taxation issues
BUSINESS
Energy Security: India set to depend on Russia
India recognised that there is excess reliance on oil and gas supplies from OPEC countries in West Asia. Given the political volatility in that entire region, the needs of energy security dictate that the Indian crude basket should have a wider spread
