Value chains have altered global trade: Yes Bank
The Dollar Business Bureau Yes Bank on Monday released its second report on India's structural trade dynamics which underscored that value chains have changed the face of global trade in recent times. Cross country inter-linkages have increased much more than the growth in volume trade. It has allowed developing and emerging economies to integrate with global markets. Trade has seen amazing growth with production being outsourced, driven by the economic rationale of comparative advantage with benefits of cost reduction and productivity enhancement. From this global perspective, India’s share in global export of intermediates at less than 2% (as of 2014) indicates its limited integration in global value chains. However, India trades the most with its global peers in intermediates. As such, it becomes interesting to ...
A conducive business environment is needed for MSMEs to grow
MSMEs are closely linked to their local business environment and are more vulnerable than large enterprises to policy deficiencies and external market shocks, such as severe economic conditions or changes in economic regulations Sisir Pradhan | The Dollar Business Germany is an often cited example of a country with a healthy MSME sector. Miriam Koreen Deputy Director of the OECD Centre for Entrepreneurship, SMEs and Local Development The Dollar Business (TDB): How important is the contribution of the MSME sector (largely those in the manufacturing segment) for the world economy as well as world trade? Miriam Koreen (MK): MSMEs form the backbone of the economy in most developed and developing countries, accounting for more than half of all formal employment worldwide and for ...
National Capital Goods Policy to increase production, exports
The National Capital Goods Policy is expected to add production of capital goods more than three times by 2025 and increase exports up to 40% of production The Dollar Business Bureau The move is expected to enhance the exports of Indian made capital goods through a Heavy Industry Export and Market Development Assistance (HIEMDA) scheme The government has unveiled the National Capital Goods Policy which is expected to add production of capital goods more than three times by 2025 and increase exports from the current 27% of production to 40%, making India a net exporter of capital goods. This was an endeavour by the Indian Govt to drive growth for capital goods sector, as well as stick to its commitment of realizing the ...
Trade is a great leveller, but barriers still remain: WTO
The Dollar Business Bureau | @TheDollarBiz “We are living off the liberalisation and reforms of the past.” - Roberto Azevêdo, DG, WTO Trade will be the major driver of development in the 21st century, and countries must facilitate trade reforms and remove trade barriers to help the Least Developed Countries (LDCs) benefit from multilateral trade, Roberto Azevêdo, Director-General of the World Trade Organisation (WTO) said at the launch of the annual World Trade Report yesterday. According to the WTO report, global trading system has helped reduce the gap between developed and developing countries in the last two decades. The report speaks about the three major waves of economic development the world has seen since the industrial revolution of the late ...
