Among the FTAs which have affected Indian domestic industry adversely, the India-Korea CEPA, signed in 2009, has been significant. India had a trade deficit with South Korea of around $4.5 billion in 2009, and increased to $11.5 billion in 2018.
The real thrust of the Chinese envoy’s efforts in the Indian media is to build a coalition against the US based on the narrative that the latter is against economic globalisation, is unilateralist and a threat also to Indian interests. India must be wary of this.
The theme of the meeting this year would be 'Globalisation 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution', said the WEF, which describes itself as an international organisation for public-private partnership.
Modi arrived Argentina's capital of Buenos Aires on Thursday to attend the G-20 summit where he will discuss ways to meet the new and upcoming challenges of the coming decade with other world leaders, including US President Donald Trump.
Ensuring price stability through monetary policy and current account deficit at sustainable levels have enabled us the build-up of “buffers” against unforeseen shocks, according to Reserve Bank of India Governor Urjit Patel.
Referring to what has happened in the world in terms of eradicating poverty, he said China has had the strongest experience as 800 million people have been lifted out of penury.
World Bank President Jim Yong Kim told journalists that free trade and more openness were "critical for the future of the world."
Mittal, 59, speaking in his capacity as Chairman of the world's largest business organisation International Chamber of Commerce (ICC), said it is a matter of concern that parts of the developed world are now embracing a protectionist attitude.
Addressing a gathering of senior diplomats from various countries and business leaders at the annual Ambassador's Meet here, he also asserted India is young and ambitious and it wants to keep the growth rate target of 9 per cent.
DTAA is a bilateral or multilateral agreement between two or more countries to resolve the issues of taxation of income, bring the transparency and to plug the tax evasion.
China will participate in regional free trade pacts, Li said at his annual news conference at the end of the annual meeting of China's parliament.
Bansal said that the Internet will drive the service sector in India and the government is making a huge mistake by not recognizing it as a key growth sector.
As the five-day talkathon of global elite wrapped up in freezing cold climes of Swiss Alps here today, world leaders foresaw a new normal for globalisation with a lot more 'inward focus' by various countries including the US, even as global economy appeared poised for a fresh growth era propelled by India and China.
According to her, forces of free trade and globalisation that have harnessed wealth and opportunities across the world and broken down the barriers are somehow at risk of being undermined.
"To the sociologist, it (globalisation) is associated with modernity, to international relations theorist with global governance, and to the scientist with a range of technologies and mediums that have qualitatively transformed human communication and connectivity.
Xi made a vigorous defence of globalisation at the World Economic Forum and painted a picture of China as a "wide open" economy, but foreign businesses see it through a very different lens.
The commerce and industry minister said the debate here at WEF has been about the fate of globalisation and whether capitalism needs to be demonised.
German Chancellor Angela Merkel is steering clear of the World Economic Forum in Davos, a meeting expected to be dominated by debate over the looming presidency of Donald Trump and rising public anger with elites and globalisation
Government's decision to ban use of old Rs 1,000 and Rs 500 currency notes is expected to impact adversely the growth of export-import (EXIM) trade, shipping giant Maersk Line said in a report.
For trade economies, protectionism is always a concern and protectionist rhetoric does take over during elections, says Arvind Panagariya, Vice Chairman of the NITI Aayog.
The BRICS Summit, an increasingly high-profile gathering of leaders from the emerging-market BRICS countries, is becoming a key driver of globalisation, an article titled 'BRICS create balancing influence in world affairs' in the state-run Global Times said.
Without naming Donald Trump, the Republican candidate for the US presidency, and the loose talks on clamping trade protection measures at the campaigns, Jaitley said, "I think the fears are real because the US is increasingly becoming more and more protectionist".
Expressing disappointment over the "persistent underperformance" of world economy, IMF chief Christine Lagarde today called for greater trade integration and warned against retreat from globalisation and multilateralism.
Long a motor for the global economy, trade growth is set to lag growth in the broader world economy this year, the Organisation for Economic Cooperation and Development said in an update of its main economic forecasts.
In a move that may help attract more overseas capital, the Union Cabinet allowed a foreign company to own up to 15 percent in the domestic stock or commodity exchanges as against 5 percent currently.