分类： business

In a significant move to bolster its export sector, the Indian government has unveiled a comprehensive relief package exceeding $5 billion. Announced late on Wednesday and approved by the federal cabinet chaired by Prime Minister Narendra Modi, the initiative aims to mitigate the adverse effects of US-imposed tariffs and strengthen India’s export ecosystem. The package includes collateral-free loans worth $2.3 billion and a six-year disbursement of $2.82 billion through the Export Promotion Mission (EPM), a program designed to enhance export competitiveness, particularly for micro, small, and medium enterprises (MSMEs), first-time exporters, and labor-intensive sectors. Information and Broadcasting Minister Ashwini Vaishnaw emphasized that the EPM represents a strategic shift from fragmented schemes to a unified, outcome-based mechanism capable of swiftly addressing global trade challenges and evolving exporter needs. The move comes as Indian exporters grapple with a 50 percent tariff imposed by the US, including a 25 percent punitive levy over India’s purchase of Russian oil, which has significantly impacted sectors like textiles, jewelry, leather goods, and chemicals. Industry leaders and trade organizations have welcomed the relief measures, with the Federation of Indian Export Organisations President SC Ralhan praising the EPM for its pragmatic and forward-looking vision. Similarly, the Confederation of Indian Textile Industry Chairman Shri Ashwin Chandran highlighted the potential for the textile and apparel sector to become globally competitive and create better-quality jobs. The timing of the package is particularly crucial for the seafood industry, which is facing its most challenging phase, according to Seafood Exporters Association of India President Pawan Kumar G. While the EPM is seen as a positive step, its success will hinge on the swift issuance of detailed guidelines, adequate funding, and robust coordination mechanisms, as noted by Global Trade Research Initiative founder Ajay Srivastava. Meanwhile, US President Donald Trump has indicated that his administration is working on a ‘very different deal’ with India, signaling ongoing negotiations between the two nations.

China has emerged as the Gulf region’s leading trading partner, surpassing Western nations for the first time in 2024, according to a report released by London-based think tank Asia House. The study reveals that trade between China and the six Gulf Cooperation Council (GCC) countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—grew by 14.2% to reach $257 billion in 2024. This figure exceeds the combined trade volumes of the Gulf with the United States, the United Kingdom, and Eurozone countries, which declined by 4% to $256 billion during the same period. The report, titled *The Middle East Pivot to Asia*, forecasts that Gulf-China trade will expand further, reaching $375 billion by 2028, with the gap widening to $75 billion. Freddie Neve, the report’s author, emphasized that Gulf economies are deepening ties with Asia faster than with any other region amid global trade disruptions. Energy imports from the Gulf remain a cornerstone of this relationship, supported by long-term energy agreements and Gulf investments in China’s downstream refining and petrochemical sectors. The broader Gulf-Asia trade surged to $516 billion in 2024, marking a 14.4% increase and nearly doubling Gulf-West trade volumes. Asia House CEO Michael Lawrence noted that economic, diplomatic, and commercial ties have reached a pivotal inflection point. The report also highlights the growing integration of Gulf and Asian financial markets, increased cross-border capital flows, and the potential rise of renminbi-denominated trade, which could enhance the Gulf states’ geopolitical strategies and reduce trade costs.

China’s fixed asset investment (FAI) experienced a significant downturn in October, reflecting mounting pressures on the real economy as the ongoing property crisis continues to dampen economic activity. According to the National Bureau of Statistics (NBS), the cumulative FAI for the first ten months of 2023 stood at 40.89 trillion yuan ($5.7 trillion), marking a 1.7% year-on-year contraction. This represents a sharp deterioration compared to the 0.5% decline recorded in the first nine months of the year. In October alone, FAI plummeted by 12% to 3.74 trillion yuan, down from 4.25 trillion yuan in the same period last year. All three major sectors—primary, secondary, and tertiary industries—registered declines, with residential property development investment dropping 13.8% year-on-year to 5.66 trillion yuan in the first ten months. The property sector’s slump has been a significant drag on overall investment, accounting for a three-percentage-point reduction in growth. Despite these challenges, NBS spokesperson Fu Linghui emphasized that excluding real estate, FAI grew by 1.7% during the same period. He also highlighted robust expansion in high-tech industries, with aerospace manufacturing up 19.7% and information services investment surging 32.7%. However, analysts caution that China’s economy is entering the final quarter on a weakening trajectory, with softer industrial output and sluggish household consumption exacerbating the slowdown. The property market’s downward spiral, triggered by the Evergrande Group debt crisis in 2020, continues to weigh heavily on consumer confidence and investment. Home prices in major cities have shown broad-based declines, with first-tier cities experiencing a 4.4% year-on-year drop in October. Experts predict further adjustments in housing prices over the next three years, with some regions potentially hitting historic lows. The prolonged correction in the property sector reflects a deliberate policy shift away from property-led growth, but a genuine recovery will depend on rebuilding fundamentals such as employment, income growth, and social protections. Meanwhile, falling home prices are eroding household wealth, with over 70% of family assets tied to property, leading to reduced consumption and job market pressures. As China navigates these challenges, policymakers face the delicate task of balancing structural reforms with short-term stabilization measures.

In the ever-turbulent realm of cryptocurrency, self-reliance emerges as the ultimate crisis management tool. Drawing inspiration from Reese Witherspoon’s advocacy for female agency in cinema, this narrative explores the parallels between personal empowerment and navigating the unpredictable crypto markets. Last week’s market downturn, which rattled even the most seasoned investors, served as a pivotal moment for one crypto enthusiast. Initially seeking reassurance from a male-dominated Telegram group, she found only silence and pessimism. This prompted her to take decisive action, selling a portion of her holdings not out of fear, but to strategically capitalize on the dip. Although the market stabilized sooner than expected, the experience underscored a profound lesson: the importance of trusting one’s instincts and taking ownership of financial decisions. The author reflects on her past tendency to seek external validation, a habit she now recognizes as counterproductive. Instead, she advocates for self-education, resilience, and the courage to make independent choices. This philosophy aligns with the ethos of the crypto community, which champions decentralization and personal sovereignty. A subsequent emergency call with a women’s crypto group reinforced this mindset, as participants collectively affirmed their commitment to their investments and beliefs. The author concludes with a forward-looking perspective, embracing the challenges and opportunities of a nascent financial system while vowing to rely solely on her own judgment moving forward.