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  • India–Bangladesh Trade Settlement in Indian Rupee

    With India and Bangladesh agreeing to settle the payments for their international trade partly in Indian rupee, it can reduce pressure on Bangladeshi dollar reserves.

    August 18, 2023

    Export Controls on Advanced Technology Trade and the Russia-Ukraine Conflict

    Export controls or strategic trade technology control has been used as a significant tool to impose sanctions on Russia, for its military operations in Crimea and Ukraine.

    August 30, 2022

    Iran’s Central Asia Policy Gains Momentum amid Russia–Ukraine War

    Iran has seen a sudden rise in its importance as a transit and transport hub connecting China and Central Asia to Europe, and also Russia with India.

    July 19, 2022

    India–Australia Relations on the Upswing

    India and Australia need to take a leadership role in maritime security affairs in the two oceans and have deeper engagements with the Pacific and Indian Ocean island countries.

    April 26, 2022

    Demystifying Trade Warfare

    Historically, navies have been employed for the conduct of trade warfare. However, naval discourse on the subject has ranged from advocacy as prime employment of naval power to relegation as a secondary role that is best avoided. World Wars I and II witnessed wide-ranging application of trade warfare with varying degrees of success. Global seaborne trade has transformed significantly since the great wars, with large merchant fleets servicing an interconnected and globalised trading system.

    January-March 2021

    Emerging Contours of India–US Fossil Fuel Trade

    The value of India’s oil and gas trade with the United States rapidly increased in size over the last two to three years. Efforts by New Delhi to build better bilateral relations with Washington helped to energise the fossil fuel trade. India, as a consumer, can expect to buy oil and gas at reasonable prices in the mid-term, ensured not least by competition among suppliers. However, India’s import of coal from the US suppliers is projected to decline due to recent decision of the Indian Government to become self-sufficient in coal.

    July 2020

    Prasad asked: What is the significance of TIR convention in facilitating cross border trade and for BBIN?

    Nihar Nayak replies: In June 2017, India became the 71st country to ratify the TIR (Transports Internationaux Routiers or International Road Transports) Convention, an international customs transit system under the auspices of the United Nations Economic Commission for Europe (UNECE).

    China Looks to Africa to Reduce Trade Dependence on the US

    China may or may not succeed in transforming Africa into a substitute market. If it does, the bilateral trade relationship is likely to become more unbalanced and tilted in its own favour leading to greater exploitation of Africa.

    September 18, 2018

    The Coming of the Petroyuan?

    China’s launch of a yuan-denominated oil futures exchange will provide it with the opportunity to create an Asian crude oil benchmark and give it more clout in crude pricing and for promoting the yuan as a truly global currency.

    February 22, 2018

    Muzaffar Hussain asked: Why is India not opening up trade through Ladakh area? Is their any security threat involved?

    Joe Thomas Karackattu replies: Ladakh has historically been a vital link between Tibet, Xinjiang and Central Asia. The connection between Leh and the towns of Yarkand, Kashgar and Khotan are well noted. This connection with Xinjiang was so active that there are people of Yarkandi descent who’ve settled in Ladakh over time. Exports of textiles, tea, spices and oils and import of bullion, silk and carpets was the main economic activity. Tibet was largely dependent on Ladakh for supplies of essential goods (food grains, saffron, shawls, etc). The annual turnover of Ladakh’s trade with Tibet during the Dogra rule is noted to run into several lakhs of rupees, only to be disrupted in 1950, and ultimately coming to a standstill in 1959.

    The decision to open up trade is conditional on both India and China pursuing a broader vision of regional development. There is the outstanding issue of Aksai Chin, which India considers as part of Ladakh. Apart from the settlement of political issues, the region needs an all-weather road network to Leh. The viable connections that could result in revival of economic activity for Ladakh include Demchok in southeastern Ladakh on the Indian side connecting to Tashigang in Tibet. There is also the Nubra Valley of Ladakh region which could be used for smooth conduct of Kailash and Mansarovar yatras (also tourism and employment generation for locals in Ladakh). India can gain reliable access to inner Asia, and even China has much to gain in terms of development of its relatively poorer western regions if these issues are pursued in an overall cooperative framework as opposed to a zero-sum game.