global trade

February 13, 2025 6:45 PM

Brazil nixes BRICS currency, eyes less reliance on ‘mighty’ dollar

Brazil's BRICS presidency this year will not advance a common currency for the group of major developing economies this year, four government officials said, but its agenda may pave the way for less reliance on the U.S. dollar in global trade. That agenda could draw the ire of U.S. President Donald Trump, who has twice in recent months warned the BRICS group, founded by Brazil, Russia, India, China, not to challenge the dominance of "the mighty U.S. Dollar." "There is no chance that BRICS will...

January 13, 2025 6:58 PM

India set to redefine global trade at 6.4% CAGR over next decade: Report

India is poised to redefine its role in global trade, with a projected compound annual growth rate (CAGR) of 6.4 per cent in trade over the next decade, roughly in line with its high GDP growth, according to a report on Monday. The ASEAN region and especially India, are among the greatest beneficiaries of production shifts spurred by geopolitics, such as trade tensions between the US and China. "We project 6.4 per cent CAGR in India’s total trade through 2033, to $1.8 trillion annually, roug...

December 26, 2024 3:41 PM

India’s share in global trade doubled since 2005, comparatively moderated in last 10 years: report

India has doubled its contribution to global trade over the last two decades, marking a significant rise in its share of global exports and imports, according to a report by the National Stock Exchange (NSE). However, the pace of growth has moderated in the past decade due to global economic challenges. The report reveals that India’s share in global merchandise exports increased from 0.9 percent in 2005 to 1.8 percent in 2023, while its share in services exports more than doubled from 2 perc...

December 4, 2024 1:38 PM

India’s growing role in global trade

India’s exports have seen significant growth across various sectors, driven by technological advancements and competitive manufacturing. The nation has expanded its reach in areas such as petroleum oils, agrochemicals, semiconductors, and precious stones, solidifying its position in global trade. In 2023, India became the second-largest global exporter of petroleum oils, with exports increasing from $60.84 billion in 2014 to $84.96 billion. The country now holds a 12.59% share of the global m...