In his popular column, “BJP is winning the elections but losing the economy” (Indian Express, May 21), economist Surjit S Bhalla has put forth several claims regarding India’s existing bilateral investment treaty framework (specifically the Model BIT of 2015), which are based on his incorrect understanding of India’s BIT regime. Considering that his columns are widely read and that he held the position of executive director for India at the International Monetary Fund from 2019 to 2022, in addition to being a former part-time member of the Prime Minister’s Economic Advisory Council, his article on India’s BIT framework deserves a response.

This commentary focuses exclusively…

As 2025 draws to a close, it is plain to see that the year has been marked by US President Trump singularly undertaking a round of bilateral trade talks with several countries across the world. It is important to consider how his modus operandi tramples on democratic processes and principles in the United States. It can be argued that unilateral decision-making by the USA has been ongoing before and even after multilateral fora such as the World Trade Organization (WTO) were established. The USA routinely uses the provisions of its Trade Act of 1974 to blacklist what it considers unfavourable trading partners. The USTR’s Office…

April 29 marked U.S. President Donald Trump’s 100^th day in office of his second presidency. During this period, President Trump issued a series of executive orders and proclamations to trigger an unprecedented global tariff war, pitting America against allies and foes around the world.

Within a span of merely three months, the tariff policies originating from the White House, characterized by the initial imposition of tariffs under various statutory authorities and subsequent suspension, have significantly altered the trade relationships of the United States with the rest of the world. This has disrupted global supply chains and induced volatility in financial markets, thereby generating widespread policy…

When analysed through its engagement in bilateral free trade agreements (FTAs), the NDA government’s foreign trade policy during its ten years in office can best be described as a story of essentially two phases of sharply contrasting stands. Soon after it took office, the government developed a strong anti-FTA bias, reflected in its clear intent to review the three major FTAs that were being implemented, with the 10-member Association of South East Asian Nations (ASEAN), Japan, and the Republic of Korea.

The arguments for doing so, of course, had clear political overtones: that the previous UPA government, which had endorsed these agreements, had done so…

The 13^th Ministerial Conference (MC13) of the World Trade Organization ended in Abu Dhabi with minimal consensus. MC13 was scheduled to end on February 29 but was extended by a day as the WTO’s 166 members failed to reach consensus on several key issues, such as agriculture, fisheries subsidies, ending the moratorium on e-commerce trade, and dispute settlement reform.

Despite high hopes, MC13 failed to deliver positive results for the global trading system amid worsening geopolitical tensions and economic headwinds. Except for a last-minute deal to extend the moratorium on e-commerce trade for two years (until MC14), MC13 ended without a decision on a permanent…