In this article we will discuss about trading relation of world after Pandemic and Lockdown. It effected manufacturing sector of every country and caused a negative impact on their Economy. We are here to discuss trading relations between countries after lockdown or pandemic. Lets start.
Impact of Lockdown
More than 110 countries have restricted immigration, and almost all countries have set limits on certain types of travel. Some countries have adopted total travel restrictions, while others have restricted travel only to areas with a high rate of infection. The global tourism industry has experienced major disruptions, for example due to travel restrictions and the closure of tourist attractions. Tourism is heavily affected, especially travel. Even after the shutter systems have been removed, the epidemic itself has had a lasting effect on the sector by underestimating the risks and changes in preferences.
Impact on Exports
Exports decreased by 10.6% and exports fell by 3.3% in March 2020 compared to last year, according to the latest available balance of payment data. Among the various categories, those that involve physical contact are most affected. The Purchasing Managers ’Index for Europe recommends that tourism and leisure and transportation services are sectors with significant declines in April twenty twenty.
Trading relations of India with rest of the world
India is trading with the since Ancient times. India is a primary of culture, spices, technology, studies, etc... In this lockdown period of 2020 and 2021 Manufacturing of mobile phones and other electronics immensely fell in India. India's commercial empire and control are always limited in comparison. Trade barriers to trade (TBT), hygiene and phyto-sanitary (SPS) measures, deviations from international standards and treaties, and discrimination based on India's legal or administrative measures, affect many sectors, including goods, services, investment and procurement . After border conflict India-China trade is not like before it has decreased a lot and 123 Chinese apps has been banned since June 2020. Trade has been decreased but recently ISRO has signed a MoU with Oppo a chinese company and relations are improving
Sides of their international obligations under the World Trade Organization (WTO). The key tools in this regard are the European Union-India Sub-Trade Commission established under the 1994 Cooperation Agreement between the European Union and India, and its specialized working groups.
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