Introduction Tariffs, or taxes imposed on imported goods and services, are one of the oldest tools of international trade policy. While they may appear as a mere economic instrument, tariffs often carry political, strategic, and geopolitical motives. In the modern globalized economy, tariff wars, especially those initiated by the United States, have far-reaching implications beyond…
Introduction In today’s interconnected world, supply chains form the backbone of the global economy. A supply chain is the complex network of production, transportation, distribution, and consumption processes that ensure goods and services reach consumers across different countries. From raw material extraction to manufacturing, packaging, shipping, and retail, supply chains integrate multiple sectors and economies….
Introduction The 21st century has witnessed a revolutionary transformation in the way money, finance, and trade operate. Traditional fiat currencies, governed by central banks and facilitated through commercial banks, are now being challenged by digital currencies. Cryptocurrencies like Bitcoin and Ethereum, Central Bank Digital Currencies (CBDCs) being developed by countries such as China and India,…
Introduction Bitcoin, launched in 2009 by the pseudonymous creator Satoshi Nakamoto, began as an experimental project within a small group of cryptography enthusiasts. At its inception, few imagined it would grow beyond a niche community of tech-savvy individuals. Today, Bitcoin has transitioned into the mainstream, drawing attention from governments, financial institutions, investors, businesses, and even…
Introduction Globalization refers to the process of increasing interconnectivity and interdependence among countries and regions through the exchange of goods, services, technology, and culture. Over the last few decades, globalization has become a driving force behind many economic, social, and political changes. While it has contributed to global economic growth and poverty reduction, it has…
Introduction Globalization is one of the most significant forces shaping the modern world economy. It refers to the increasing interconnectedness and interdependence of economies across the globe, driven by trade, investment, technology, and the movement of labor. In India, globalization gained momentum after the 1991 economic liberalization, which opened the country’s markets to foreign investment,…
Introduction Biotechnology is one of the most transformative fields of modern science, driving economic growth and business development worldwide. From pharmaceuticals to agriculture and industrial applications, biotechnology plays a pivotal role in shaping industries, improving productivity, and fostering innovation. In this article, we will explore how biotechnology contributes to economic growth and the ways businesses…
Introduction Innovation is the cornerstone of modern economic development and plays a critical role in shaping the trajectory of societal well-being. It encompasses the creation and application of new ideas, technologies, methods, and processes that drive productivity, competitiveness, and social transformation. In today’s rapidly evolving world, innovation is not just a buzzword but an imperative…
Introduction The COVID-19 pandemic, which emerged in late 2019, caused an unprecedented global crisis, affecting health, societies, and economies worldwide. While the immediate concern was the health emergency, the pandemic also led to one of the most severe economic downturns in modern history. Nations across the globe faced economic contractions, business closures, job losses, and…
Introduction Globalization and liberalization have significantly transformed the Indian economy, driving economic growth, enhancing trade, and improving technological capabilities. India’s economic liberalization, which began in 1991, marked a shift from a protectionist economy to an open and market-driven system. These reforms integrated India into the global economy, leading to increased foreign trade, capital inflows, and…