ARTICLES

HIGHLIGHTS

A Shifting Trade Order and India’s Strategic Choices

    Global trade is entering a turbulent phase as geopolitical realignments, supply-chain disruptions, and rising protectionism reshape economic ties. WTO Chief Ngozi Okonjo-Iweala’s call for reform underscores a system under strain, even though most world trade still relies on WTO rules. Recent trends reflect this tension – Japan’s exports are growing overall but declining to the US due to tariff pressures, while Australia’s pivot toward India in critical minerals signals a search for more secure value chains. Across Asia, the US’s frequently revised trade arrangements are creating uncertainty for partners like Korea and Malaysia. With the WTO Goods Trade Barometer showing a broader slowdown, weak freight movement, and shifting tariff-driven trade flows offers little optimism. At the same time, countries are pursuing new connectivity routes from Europe’s renewed interest in IMEC to efforts in Africa and Eurasia as the Red Sea crisis exposes supply-chain fragility. In India, evolving India-US trade negotiations raise concerns over digital sovereignty and regulatory consistency.

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