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Trade Remedies Unveiled: A Comprehensive Visual Analysis

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In an era marked by the intricate complexities of global trade, grasping the subtleties of trade remedy measures becomes not just interesting, but essential for policymakers, businesses, and scholars. The World Trade Organization's trade monitoring database , captures data on these meaures and acts as a window into these evolving dynamics. This post aims to unearth the layers of these trends for last 10 years, bringing into focus the countries at the forefront of these measures during this period, with a special emphasis on India’s position. Countries facing negative impacts from international trade have two primary defense mechanisms: remedial measures and restrictive measures. Remedial measures include Anti-Dumping Duties (ADD), Countervailing Duties (CVD), and Safeguard Measures (SG). They're effective for ensuring fair competition but require a detailed investigative process, which takes time. Restrictive measures, in contrast, can be enacted more quickly. These might inclu

Unveiling Prosperity: How State-Level Exports Shape India's Economic Landscape

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Exports vary widely across Indian states. This disparity offers rich insights, crucial for those shaping India's trade policies. Below, I present a clear-eyed look at the export performance from different states of India, drawing on official data from the Directorate General of Commercial Intelligence and Statistics (DGCIS) for the financial year 2023. The figure below shows the numbers (USD millions), disaggregated at the state-level. Let's move over quickly to something that I find more interesting. See the figure below which captures GDP/capita Vs Exports/capita for the states:  GDP and exports per head walk together, the figure tells us that much. States with bigger exports per person often show fatter wallets per capita. Exports drive not just the big national machine but also the local carts and wagons. Good roads, wise policies, and new ideas—these are the seeds for export growth in our backyards. But let's not get ahead of ourselves; a dance together isn’t always a

Export trend analysis for Indian exports - Sept 2023

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Monthly aggregate merchandise exports provide a snapshot of India's economic health and the global market. While it's tempting to draw conclusions from this data, I'd caution against it unless we're observing broad patterns. For impactful policy decisions, a deeper dive is essential, albeit with some delay due to data lag.  Now, let's venture into this intriguing data analysis. Here's the latest monthly exports figures, in USD billion dollars, for merchandise exports from India:  Month  Trade Balance  Total Exports YoY growth Exports minus POL YoY growth Apr-22 -18.4 39.7 29.1 31.8 17.4 May-22 -22.1 39.0 20.8 30.5 13.1 Jun-22 -22.1 42.3 30.1 31.7 11.0 Jul-22 -25.4 38.3 8.0 30.2 1.7 Aug-22 -24.9 37.0 10.9 28.5 -0.7 Sep-22 -28.0 35.4 4.7 28.1 -1.7 Oct-22 -26.3 31.6 -11.6 25.3 -16.7 Nov-22 -22.1 34.9 9.7 26.8 1.9 Dec-22 -23.2 38.1 -3.1 29.7 -8.6 Jan-23 -16.4 35.8 1.6 28.1 -8.4 Feb-23 -16.2 37.0 -0.4 29.2 -3.6 Mar-23 -18.1 41.9 -6.0 33.6 -3.4 Apr-23 -15.5 34.7 -12.7

Trade Finance developments and India

Trade finance is a vital aspect of international trade, enabling businesses to import and export goods and services across borders. In recent years, there have been several significant developments in trade finance, particularly in the area of digitalization. One of the most significant developments in trade finance has been the adoption of blockchain technology. Blockchain provides a secure, transparent, and tamper-proof platform for trade finance transactions, enabling faster, more efficient, and more secure processing of trade documents. We can expect many documents, including title documents such as the bill of lading to go blockchain based. Another development in trade finance is the growing use of digital platforms and tools for trade finance operations. These platforms allow businesses to manage their trade finance operations more efficiently, including the issuance and processing of trade finance documents, and enable faster and more secure payment processing. The Factoring Reg

India's Petroleum Trade: An overview and some analysis

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I thought of creating one comprehensive diagram that could capture everything about India's Petroleum, Oil and Lubricants (POL) trade for the calendar year 2022. The result is a Sankey diagram you see below (you can zoom it as it's a high res image):  The domestic production mentioned on the left-hand side pertain to domestically drilled crude oil in India. The data for this is taken from MoPNG's website. The rest of the trade data is from DGCIS. India majorly imports crude and exports refined petroleum products.  India has 23 refineries with a total installed capacity of around 250 MT per annum . These refineries process crude oil into various petroleum products that meet domestic as well as international standards and specifications.  A recent trend that has emerged in India's petroleum trade is the increase in crude oil imports from Russia. The main reason behind this surge in Russian crude oil imports is the geopolitical situation arising from the conflict between

Akamaisation, friendshoring, nearshoring etc.

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What's Akamaisation ? Akamaisation refers to the idea of companies going local in order to remain global. I had proposed this term as a parallel to the concept of deglobalisation. The concept of Akamaisation arises from the need for multinationals to adjust their international supply chains in response to changes in the globalisation landscape. Companies are leveraging Industry 4.0 advancements such as automated manufacturing, robotics, and IoT to create more agile and localized production processes in response to the developing geopolitical and economic competitions. To provide a brief background, the good years of globalisation were marked by a concentration of production in labor-intensive countries, such as China and nearby countries like Taiwan, Korea, and ASEAN. This was due to factors like falling tariffs, technological advancements, and logistics optimisation. However, data suggests that this model peaked around 2012-13, a few years after the financial crisis. Both merchan