Introduction The uneven distribution of minerals and oil has been a defining feature of global geography and economic development. While some regions are rich in natural resources, others have little or no access to these strategic assets. This disparity has far-reaching implications for economic growth, geopolitical power, industrial development, environmental sustainability, and global trade. Minerals…
Introduction In the globalized economy of the 21st century, international trade forms the backbone of economic growth for both developed and developing countries. For a country like India, which is steadily moving towards becoming the world’s third-largest economy, exports are not merely a source of foreign exchange but also a driver of industrial growth, employment…
Introduction In the interconnected world economy, tariff wars have emerged as a critical tool for countries to assert economic dominance, protect domestic industries, and achieve political objectives. While nations like the United States, China, and the European Union often lead these conflicts, India, as a rising global economic player, plays a significant role in this…
Introduction In the era of globalization, nations are increasingly interconnected through trade, investment, and technology. However, global trade is often threatened by tariff wars, a type of economic conflict where countries impose taxes on imports to protect domestic industries or retaliate against trade practices deemed unfair. Tariff wars are a subset of trade wars, with…
Introduction Trade wars have emerged as a significant aspect of global economic policy in the 21st century. Unlike conventional warfare, trade wars are economic conflicts between nations, primarily manifested through tariffs, quotas, subsidies, and trade restrictions. These conflicts aim to protect domestic industries, influence foreign policy, or gain strategic advantages in global markets. While some…
Introduction The 1920s was a decade of significant economic development for both the United States and the Soviet Union, albeit with vastly different approaches. While the U.S. embraced capitalism and free-market policies, the Soviet Union pursued a centrally planned economy under communist ideology. These divergent economic policies shaped the trajectory of both nations and had…
India has set an ambitious goal of becoming a $5 trillion economy, a vision that represents its aspirations for rapid economic expansion, global competitiveness, and improved living standards. The government has undertaken key structural reforms, policy measures, and sectoral advancements to accelerate growth, but significant challenges remain. This article critically analyzes India’s progress toward achieving…
Globalization has significantly influenced India’s economy since the economic liberalization of 1991. It has led to rapid economic growth, increased foreign investments, and expanded trade opportunities. Various sectors, including agriculture, industry, and services, have experienced profound transformations. While globalization has presented numerous opportunities, it has also posed challenges that India continues to address. 1. Understanding…
Introduction Industrial policy plays a crucial role in shaping the economic trajectory of a nation. The term ‘New Industrial Policy’ generally refers to a shift in the approach of the government towards industrial development, with the aim of making industries more competitive, innovative, and globally integrated. India’s New Industrial Policy, introduced in 1991, marked a…
Introduction The concept of a self-reliant India, or “Atmanirbhar Bharat,” has gained significant momentum in recent years, especially in light of global disruptions such as the COVID-19 pandemic. Announced by Prime Minister Narendra Modi, this vision aims to reduce dependency on foreign goods, boost domestic industries, and make India a global manufacturing and economic hub….