Indian policy makers face a number of stiff challenges as they prepare for the 10th ministerial meet of the World Trade Organisation (WTO) to be held in Nairobi, Kenya during the middle of next month. The ministerial meet is the highest policy making body of the WTO covering 161 members.
First, the news on trade front is nothing to cheer about. The September foreign trade data showed Indian exports declining for 10 straight months in row. The slowing Chinese economy is a significant factor impacting global demand and investment. Other countries, both emerging as well as developed ones are reckoning with the declining Chinese demand and not just for raw materials.
This has been excerpted from a 1 November 2015 news item by The Hindu and is available in its entirety at: http://www.thehindu.com/business/Economy/tough-challenges-on-the-trade-front/article7830058.ece