Trade Protectionism

Regulatory and internal market barriers of China are some of the major impediments which impact India's exports to that country, economic think tank Global Trade Research Initiative (GTRI) said on Sunday. "India must take up all market access issues faced by its exporters with China on a priority basis. India may consider applying mirror regulations to imports from China," it said. China uses four significant barriers besides customs duties to regulate imports from countries like India and those barriers include regulatory, internal market, trade defense, and political, it said. "China stifle competitive imports from India through complex regulations," the GTRI said Quality and standards of products cannot be a problem as India exports to over 100 countries, including the US and Europe, GTRI said. Citing an example of the pharma sector, it said India imports 90 per cent of bulk drugs or APIs (active pharma ingredients) from China and allows easy access through a simple registratio

China opposes protectionism, the erection of fences and barriers, decoupling, disruption of industrial and supply chains, unilateral sanctions, and maximum-pressure tactics, President Xi Jinping said on Sunday, apparently hitting out at the US. China adheres to the right course of economic globalisation, he told the key Congress of the ruling Communist Party here. The 20th Congress in its weeklong session starting from Sunday is widely expected to endorse a record third five-year term for Xi who also heads the party and the military. China strives to promote trade and investment liberalisation and facilitation, advance bilateral, regional, and multilateral cooperation, and boost international macroeconomic policy coordination, Xi said. China opposes protectionism, the erection of fences and barriers, decoupling, disruption of industrial and supply chains, unilateral sanctions, and maximum-pressure tactics, he said. Xi said China is committed to working with other countries to fost

Why is India Inc protectionist? Why are global CEOs bullish about India? Will the spike in natural gas prices affect related stocks? What is a demat and a trading account? All answers here

As a response to a falling rupee and rising current account deficit, the govt is mulling tariff hikes on non-essential imports. But, does India Inc also favours protectionism? Let's find out

Governments across the world must rise above geopolitical tensions to re-engage on trade reforms while refraining from protectionism, a group of nearly 30 CEOs said in a joint call to action

Should the govt policy benefit a few manufacturers through protection from imports or a large number of people via easier access to cheaper devices that help reduce chances of contracting diseases?

Higher tax rates, central banks pumping out cash, protection for home industry, suppressing interest rates, high social welfare pay-outs - all hark back to pre-Thatcher-Reagan phase - notes T N Ninan

WTO's India review shows protectionism has alienated partners

For sustained growth India needs to use foreign capital and foreign know-how to produce goods that it sells in foreign markets. What's self-reliant in that?

Tinkering with rates will put off investment and hurt exports

In the Budget for 2021-22, finance minister Nirmala Sitharaman introduced higher import duty rates on over a dozen handset and automobile components.

He said the strategy for the companies is to be an active player in every market that they operate and have an articulation of partnership with that country and which reflects its priorities

Here's a selection of Business Standard opinion pieces for the day

Union Budget must avoid failed strategy of protectionism

Say India needs to bring down import duties over time

Say India needs to bring down import duties over time

Here's a selection of Business Standard opinion pieces for the day

'I must express my dismay over the speech by foreign minister... when he railed against trade agreements and praised the virtues of protectionism,' Chidambaram says

In this podcast, Business Standard's Subhomoy Bhattacharjee explains what is RCEP, how will it benefit member nations, why did India pull out of RCEP and more

Self-reliance cannot be a superior alternative to open trade