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Trade
Inequality and trade: Simulation evidence for 54 developing nations
Questions about who benefits from free trade – and at what cost – have resurfaced as part of the backlash against globalisation. This article uses data from 54 low- and middle-income countries to show that in a majority of cases, trade liberalisation increases both incomes and inequality. Most of the trade-offs between them resolve in favour of liberalisation; despite exacerbating income disparities, trade liberalisation creates overall social welfare gains.
Should India reconsider participating in e-commerce negotiations at the WTO ?
India is planning to bring about a national e-commerce policy. However, the government has decided to stay away from negotiations at the World Trade Organization platform to set international e-commerce rules due to many concerns. In this post, Shikha and Prakash argue that it will be prudent to join the negotiation and participate actively to highlight India’s concerns and guide the discussion towards a fair negotiation.
RCEP trade agreement: The road not taken?
Prime Minister Modi recently announced that India would not be joining the Regional Comprehensive Economic Partnership (RCEP) agreement between Southeast Asian Nations and its free-trading partners. It is mainly due to concerns on the impact that it would have on Indian agriculture and industry because of increased imports from some RCEP countries. Using rigorous academic evidence, Agrawal and Malhotra discuss what the government should reflect on, if it were to reconsider its stance.
Exports, global production sharing, and job creation in India
Is it in the interest of a country to promote strong local linkages for its domestic industries or to participate in global production sharing activities wherein linkages are globally dispersed? This article informs this debate by empirically analysing which one of these strategies would result in higher levels of domestic value added and employment in a developing country like India.
What explains India’s poor performance in garment exports?
India has been losing its share of the world garment trade over time – it went down from 6% in 2013 to 3.5% in 2016. This article examines the Indian garment industry based on a survey of garment manufacturers in India. It discusses the constraints and nature of competition faced by the industry, and suggests a number of policy changes in order to boost exports.
The new globalisation and income inequality
Trade in intermediates (or ‘unbundling of production') and trade in capital have become increasingly important in last 25 years. This article shows that trade in intermediates generates a reallocation of capital across countries that exacerbates world inequality in both income and welfare. Unbundling of production hurts middle-income countries but helps those with high productivity. Trade in intermediates also increases within-country inequality, and this increase is U-shaped in the aggregate productivity level of the country.
How operational efficiency of India's ports impacts its manufacturing exports
The average turnaround time of Indian ports has come down significantly since 2010, indicating improvement in their operational efficiency. However, it still is more than two times the level in some of the best-performing ports in the world. This article provides estimates showing that if the average turnaround time could be cut down by 50%, India’s manufacturing exports may increase by at least 20-25%.
Trade agreements and their impact on India’s apparel exports
Slow progress of the Doha Round of WTO negotiations has led to a proliferation of regional and bilateral trade agreements, and consequent increase in trade among their members. While India continues to be among the top apparel-exporting countries, its apparel exports have stagnated in recent years. In this post, Mukherjee, Sinha, Sarma, and Paul investigate the impact of trade agreements on India’s apparel trade.
Tapping export destinations for growth
TThe trade environment today is becoming increasingly murky and stormy, despite a strengthening global economy. India’s position – never very remarkable – is being further battered, and its embattled manufacturers and exporters face a risky external marketplace. Against this backdrop, Sharmila Kantha assesses which markets India should tap to intensively promote its exports in a targeted manner.
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