An attempt to make economics easy to understand
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
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
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
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