By Dezan Shira & Associates, Delhi Office
Sept. 24 – India is fast emerging as a global trade dynamo with its vast natural resources and huge supply of skilled labor. Undertaking considerable industrial deregulation and other structural reforms, regulators in India recognizes that strong exports are critical for overall economic growth and poverty reduction. As such, export-led growth has become a key driver of trade in India – one of the most important trailblazers in the recent enormous expansion of international trade.
Indian trade has grown exponentially over the past few years, with exports rising at a rate well above the pace of growth of worldwide exports. In this atmosphere, opportunities have never been greater, and starting a trading business in India has never been easier. Continue reading
Posted in Foreign Trade
Sept. 18 – Small and midsize importers will get help with their LCL shipping needs via Transporteca, an online transportation booking portal launched globally in March 2013.
Buyers can find and book ocean freight with a suitable forwarder by comparing LCL solutions based on price, transit, pickup and delivery time, forwarder’s proximity at origin and destination, and customer feedback. These factors address many of the concerns importers have over LCL shipping. Continue reading
Sept. 17 – Japan will extend an Official Development Assistance (ODA) loan to Vietnam this year worth US$500 million, according to Japan’s Foreign Minister Fumio Kishida. The announcement was made this week during the fifth meeting of the Vietnam-Japan Cooperation Committee, a forum for bilateral cooperation chaired by the foreign ministers of both countries.
The US$500 million ODA loan has been earmarked for infrastructure and educational projects in Vietnam as a key component of the Joint Vietnam-Japan Initiative. The initiative, established in 2003, brings together both public and private sector leaders in an effort to strengthen Vietnam’s investment environment.
The Joint Vietnam-Japan Initiative utilizes the public-private partnership (PPP) model to provide support to Vietnam’s service and retail industries as well as funding for infrastructure projects. It also seeks to address macroeconomic concerns affecting Vietnam, such as inflation control and exchange rate stabilization. Continue reading
Sept. 13 – During the 10th China-ASEAN Expo, Chinese Premier Li Keqiang announced the proposal of a “Diamond Decade” between China and the ASEAN nations, which will seek to build greater economic cooperation between the two areas.
Premier Li was quoted as saying “we unanimously agreed that our common interests are expanding. We had the capabilities to create a ‘golden decade’ in the past. We also have the power to create a ‘diamond decade’ in the future.” Continue reading
By David Anthony Matthew
Sept. 9 – Named as one of Bloomberg Markets’ fifty most influential people in its upcoming October issue, Raghuram Rajan has been much more than a mere professor of economics over the course of the past decade. One part public intellectual, one part policymaker and perhaps the most famous Cassandra of the global financial crisis, he is widely considered to be among the world’s preeminent thinkers on economic matters. Yet few would envy Rajan today as he steps into the middle of his country’s growing financial maelstrom as governor of the Reserve Bank of India.
While nearly all emerging markets have suffered from capital flight in anticipation of the American Federal Reserve’s return to tighter monetary policy — including the winding down of its quantitative easing program — India has been especially hard hit. Its economy is suffering from multiple woes: a rupee diminishing in value every week and mired in inflation, uncontrolled budget deficits and subsidy programs and the world’s second largest current account deficit. Continue reading
Posted in Business
Tagged India, RBI, Reform
Sept. 5 – In a stroke of fortunate luck, despite the devaluing rupee, Indian tea exporters have benefited recently thanks to tea producers lowering their prices which has in turn made them much more competitive globally.
The decrease in the value of the rupee has actually come at a somewhat opportune time for Indian growers since Kenya (a major competitor to India) recently had a bumper crop and was able to lower its prices to a level that India would have previously struggled to compete with. As a result, many of India’s largest tea producers, such as McLeod Russel, Joonktollee Tea & Industries and the Goodricke Group are forecasting a 10-20 percent increase in global tea exports. Continue reading
Posted in Business
Tagged Export, India, Tea