Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. India needs more, not less, globalisation to boost wages >
  5. India needs more, not less, globalisation to boost wages

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India needs more, not less, globalisation to boost wages.


Date: 06-03-2019
Subject: India needs more, not less, globalisation to boost wages
India needs to ramp up exports if workers are to enjoy higher wages, according to a new report from the World Bank and the International Labor Organization. 

While the link between exports and economic growth is widely accepted, the authors show how trade can help draw people out of the informal, or unregulated, economy and boost pay, thereby reducing poverty. They estimate that raising the value of India’s exports by $100 per worker would increase average annual wages by 572 rupees ($8) per person. 

Nearly 10 million Indians enter the workforce every year in a country where almost 60 percent of the population live below a poverty line of $3.2 a day. 

“Our results show the positive side of globalisation in South Asia, which stems from higher exports,” the authors say in the report. “Rising wages and a shift from informal to formal employment are exactly the kinds of benefits governments hoped for when they opened up their economies to international trade.” 

Trade Share 
Workers who are educated, urban and male tend to benefit more from the export gain, according to the study. 

While India’s economy has grown at a robust pace of about 7 percent in the past few years, it’s become less reliant on trade over the years. The World Bank estimates that trade as a percentage of gross domestic product dropped to 41 percent in 2017 from 55.8 percent in 2012. 

India’s share of world exports is 1.7 percent, while it buys 2.5 percent of global imports, according to the World Trade Organization. 

About 800,000 jobs moved from the informal economy to the formal sector between 1999 and 2011 because of export growth, representing 0.8 percent of the labour force, the World Bank study shows. 

Greater exports don’t necessarily mean more jobs, according to the study, and governments need to focus on better policies to get the maximum benefit of trade. 

“With the right policies, India can ensure that greater export orientation can boost workers’ gains from trade and spread them more widely, so benefiting disadvantaged groups,” the authors said. 

Source: economictimes.indiatimes.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 20-01-2020
A.P. (DIR Series) Circular No.17
Introduction of Rupee derivatives at International Financial Services Centres (IFSC)

Date: 17-01-2020
TRADE NOTICE NO. 46/2019-20
Mis-classification goods under 'Others' category at the time of Import- reg.

Date: 16-01-2020
Notification No.05/2020 - Customs (N.T.)
Exchange Rates Notification No.05/2020-Custom (NT) dated 16.01.2020.

Date: 15-01-2020
Notification No. 03/2020- Customs (N.T.)
Notification of Ghasuapara LCS for imports also by amendment of Notification No. 63/1994-Customs dated 21st November 1994

Date: 15-01-2020
Notification No. 04/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Date: 15-01-2020
Circular No 03/2020-Customs
Implementation of PGA e-SANCHIT– Paperless Processing under SWIFTUploading of Licenses/Permits/Certificates/Other Authorizations (LPCOs) by PGAs – reg

Date: 15-01-2020
A.P. (DIR Series) Circular No. 16
Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions, 2018 - Amendment

Date: 14-01-2020
PUBLIC NOTICE No. 56/2015-2020
Amendments in Standard Input Output Norms (SION) of Engineering Product group: Suspension of SION C-888 - reg

Date: 14-01-2020
Notification No. 4/2020-Customs (N.T./CAA/EXTENSION/DRI)
Appointment of CAA by DGRI

Date: 13-01-2020
Notification No. 05/2020 – Central Tax
Seeks to appoint Revisional Authority under CGST Act, 2017.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001