International Trade

Non-Tariff Measures vs Non-Tariff Barriers: The Fine Line in Global Trade

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Non Tariff Measures versus Non Tariff Barriers

While considering trade restrictions, we mostly think of tariff applied by importing countries. However, another important aspect of trade restriction, that lies beyond tariffs is Non-tariff barriers (NTBs). NTBs are trade restriction tools that include regulations, certifications, custom requirements and other policy requirements to limit imports. There is massive literature on non-tariff barriers, and what … Read more

Measuring Effectiveness of Free Trade Agreements

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Measuring FTA Effectiveness

Free Trade Agreements (FTAs) are often touted as engines for boosting trade between member countries. But how can we measure an FTA’s effectiveness in simple terms? One straightforward way is to look at changes in trade volumes – are member countries trading more with each other than they did before the agreement? However, effective assessment … Read more

Drawback Duty

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Drawback Duty, Duty Drawbacks

In India, the Drawback Duty is a crucial component of the Duty Drawback Scheme, aimed at supporting exporters by refunding customs duties, central excise duties, and any additional duties paid on inputs used for manufacturing exported goods. This scheme is designed to enhance the competitiveness of Indian exports by lowering production costs and promoting international … Read more

Why Does Bangladesh Export Garments and Germany Cars?

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International Trade

This is a series of conversation between two Economists, Akhilesh Verma and myself, Garima Dhir as we try to unravel and simplify various concepts of economics. In today’s blog we discuss ‘Why Does Bangladesh Export Garments and Germany Cars?”. In our last blog, we examined why some countries are poor and others rich. We also discussed how India … Read more

Why is there so much talk about Global Value Chains and where does India stand?

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Global Value Chains

What are Global Value Chains (GVCs)? In this interconnected world, trade is now driven by multinationals operating in different countries. This is what forms the basis of Global Value Chains (GVCs). GVCs refer to interlinked production processes wherein stages of production are off-shored to other countries, that are able to undertake that particular task in … Read more

COVID-19 and Opportunities for India in World Trade

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World Trade

The COVID-19 pandemic has hit the entire world across all spheres — social and economic. Like other countries, India is also grappling with the repercussions of this pandemic. Currently, India has the 2nd highest number of COVID-19 cases across the world. With unemployment rates at 7.65% in August 2020[1], the Indian economy is expected to … Read more