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<ul><li>India has reportedly decided to not participate in the e-commerce discussions with the World Trade Organisation (WTO) scheduled to begin in March. </li><li>India is concerned about the proposed custom duties of electronic transmissions. </li><li>India’s own draft e-commerce policy that was released on Saturday could help strengthen the opposition against the WTO’s e-commerce rules.</li></ul>India won’t be participating in the World Trade Organization (WTO) talks on e-commerce next month because of concerns over unfair market access to foreign players. India also just came out with its own draft of the e-commerce policy on Saturday, but its main concern with WTO is the proposed custom duties on electronic transmissions. A commerce department official <a href="https://www.business-standard.com/article/economy-policy/india-refuses-to-join-e-commerce-talks-at-wto-says-rules-to-hurt-country-119022500014_1.html">told</a> Business Standard, “WTO rules come into effect for all 164 members and need to be ratified by each, but for the first time a major decision has been taken without complete consensus among member nations. We will not encourage a multilateral platform to run, based on the interests of a few nations. Our policy will deal with concerns such as cross-border data flow.” Most global e-commerce players haven’t been too subtle about the fact that India is a ‘strategic market’ for them. India claims the new rules put forth by the WTO could provide unfair market access to foreign companies, something they’ve been working hard to deter despite opening the Foreign Direct Investment (FDI) pipelines. Tax on tax The draft e-commerce policy that the Indian government put out on Saturday favours not imposing any customs duties on electronic transmissions — basically any type of digital trade — which is in contradiction to the WTO’s e-commerce policy. 
 
 
 
 
 <div type="ExtQuote" text="“With increasing digitisation, more and more products such as books, music, films, video games, etc. are being traded electronically. By agreeing to the permanent moratorium, countries with tariff schedules, which allow putting duties on these kinds of products, will give up these rights and lose revenues.”" auname="India’s draft e-commerce policy"></div>









 Even developed nations like the US have called for “non-discrimination in treatment of digital products” since it is “at the core of the digital trading system.” Other developed nations likes the Singapore and South Korea are also propagating that custom duties should not be imposed on the transaction of digital products. On the other hand, China is in favour of the deal, according to officials. They told Business Standard that Alibaba, the Chinese multinational conglomerate, has partnered with the WTO and the World Economic Forum (WEF) to create an Electronic World Trade Platform (eWTP). While data is at the heart of India’s new e-commerce, it can help India’s cause at the WTO by strengthening the opposition. See also: <a href="https://www.businessinsider.in/amazon-india-finds-way-around-new-e-commerce-rules-for-cloudtail-and-appario/articleshow/67831376.cms">Amazon may have found a way around India’s new e-commerce rules</a> <a href="https://www.businessinsider.in/e-commerce-wars-amazons-jeff-bezos-vs-mukesh-ambani-in-india/articleshow/67620116.cms">Amazon's newest challenger may be the richest man in Asia</a> <a href="https://www.businessinsider.in/amazon-walmart-owned-flipkart-set-back-by-new-e-commerce-rules-that-help-mukesh-ambanis-reliance-retail/articleshow/67751026.cms">Mukesh Ambani may be the surprise winner from India's new rules hurting Amazon and Walmart</a>

India decides to opt-out of WTO e-commerce talks over digital tax concerns: Report

<ul><li><keyword id="3001" type="COUNTRY" weightage="20" keywordseo="Pakistan">Pakistan</keyword> has decided not to take part in discussions on a global <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> policy at the World Trade Organisation. </li><li>Since January 25th, around 76 countries, including the US and <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword> have been embroiled in negotiations to develop a framework for the regulation of the e-commerce industry. </li><li>Pakistan’s decision to not participate in the talks is confusing. Given that it is expected to record over $1 billion worth of e-commerce sales next year, it has a vested interest in adding inputs to the global framework.</li></ul> In a move that could isolate it even further in the international community, Pakistan has decided not to take part in discussions on a global e-commerce policy at the World Trade Organisation (<keyword id="6357761" type="UNKNOWN" weightage="20" keywordseo="WTO">WTO</keyword>), sources told <a href="https://www.dawn.com/news/1462331/pakistan-not-to-attend-wto-e-commerce-talks">Dawn,</a> a local daily. Since January 25th, <a href="https://www.reuters.com/article/us-davos-meeting-ecommerce/china-and-u-s-among-76-wto-members-pushing-for-new-e-commerce-rules-idUSKCN1PJ0UK">around 76 countries</a>, including the US and China have been embroiled in negotiations to develop a framework for the regulation of the e-commerce industry. These countries, which account for over 90% of global e-commerce transactions, are opting for a multilateral regulatory system given the fact that e-commerce transcends physical borders. Pakistan’s decision to not participate in the talks is confusing. Given that it is expected to record over<a href="https://nation.com.pk/14-Jan-2019/developing-e-commerce-in-pakistan"> $1 billion </a>worth of e-commerce sales next year, it has a vested interest in adding inputs to the global framework. The move appears all the more ill-advised given that the government has taken so long on formulating its own national e-commerce policy. The current laws in Pakistan are reportedly insufficient when it comes to enforcing consumer protection rights, data security and dispute resolution. As Pakistan continues to raise the ire of Western countries, it will likely move closer into China’s embrace. China has been taking a keen interest in Pakistan’s e-commerce sector. In May last year, Alibaba, an e-commerce giant, closed the <a href="https://news.abs-cbn.com/business/05/09/18/chinas-alibaba-buys-pakistan-e-commerce-firm-daraz">acquisition of Daraz</a>, the country’s leading online marketplace, as part of a plan to expand into Pakistan. Last month, Pakistan decided <a href="https://www.businessinsider.in/pakistan-has-declined-an-imf-bailout-after-securing-help-from-china-and-arab-countries/articleshow/67526393.cms">against approaching the International Monetary Fund (IMF)</a> for a bailout package to fix its external financing shortfall, opting instead for help from China and its Arab allies. In fact, just a few days ago, China approved <a href="https://www.businesstoday.in/current/world/china-sanctions-usd-2-5-billion-loan-to-boost-pakistan-forex-reserves/story/316445.html">a $2.5 billion loan to Pakistan</a> to boost its forex reserves. SEE ALSO: <a href="https://www.businessinsider.in/pakistan-has-declined-an-imf-bailout-after-securing-help-from-china-and-arab-countries/articleshow/67526393.cms">Pakistan has declined an IMF bailout after securing help from China and Arab countries</a> <a href="https://www.businessinsider.in/amazon-india-finds-way-around-new-e-commerce-rules-for-cloudtail-and-appario/articleshow/67831376.cms">Amazon may have found a way around India’s new e-commerce rules</a>

Pakistan to skip WTO e-commerce meet— taking another step away from the West

<ul><li>The World Trade Organisation (WTO), the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>, and the <keyword id="6366068" type="COMPANY" weightage="20" keywordseo="international-monetary-fund">International Monetary Fund</keyword> (IMF) all came together to ask for urgent reforms in international trade. </li><li>In a joint report, the institutions focused on modernising the WTO regulations to focus on the digital arena in order to ‘harness the unique strength’ of the organisation in changing times. </li><li>The Director General of the WTO, has earlier stated that the current global trade tensions have the potential to undermine the economic order that was established after <keyword id="6357515" type="UNKNOWN" weightage="20" keywordseo="World-War-II">World War II</keyword>.</li></ul>The functions of the World Trade Organisation (WTO), International Monetary Fund (IMF) and the World Bank may vary, but the three institutions came together to publish a joint report expressing the urgency to reform international trade. They expressed the importance of ‘harnessing the unique strength of the WTO’ by focusing on global e-commerce regulations, improved negotiating mechanisms, and increased transparency in trade policies around the world. The report titled, ‘<a href="https://www.imf.org/en/Publications/Policy-Papers/Issues/2018/09/28/093018-reinvigorating-trade-and-inclusive-growth">Reinvigorating Trade and Inclusive Growth</a>’ comes right after the president of the United States, <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword>, harshly questioned America’s involvement in global institutions like the WTO. The question for India Ordinarily, the WTO has seven judges in its Dispute Settlement Court, but currently, only four are in positions of appointment. Reports indicate that the US has been blocking more people from coming on board. If the number of judges gets any lower, the WTO won’t have enough people on the panel to deliver rulings. It’s <a href="https://www.dailyo.in/business/wto-donald-trump-trade-wars-world-bank-agriculture-subsidies/story/1/26544.html">popular</a> opinion is that the organisation is currently failing its role and being used as an instrument for retaliatory tariff wars. The question for India is a little more complicated than just being protectionist or pro-globalisation because the WTO, though a global institution, has often been accused of being biased against developing nations. Last year India even <a href="https://www.livemint.com/Politics/z5KwdAVralEF8wAsSxfTaL/India-accuses-WTO-of-raking-up-new-issues.html">told the WTO</a> that, “Such presentations by the secretariat within or outside the WTO go far beyond the remit of the functions of the WTO secretariat, and violate the letter and spirit of the agreement establishing the WTO,” when the organisation was seeking outcomes on e-commerce and investment facilitation initiatives. Director General, Roberto Azevedo, had earlier <a href="https://www.businessinsider.in/The-man-in-charge-of-overseeing-global-trade-says-the-first-shots-have-been-fired-in-a-trade-war-and-the-situation-is-extremely-serious/articleshow/65344601.cms">warned</a> world leaders that the current trade tensions have the potential to cause great harm to the world economy and it undermines the trading order that was established after World War II. The ripple events will cause job loss and hit economic growth, with the under-developed and developing nations bearing the brunt.

Three of the world’s leading financial institutions band together for international trade reforms

<ul><li><keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> was just appointed as the vice-chair for the <keyword id="120664" type="PERSON" weightage="20" keywordseo="Asia-Pacific-region">Asia Pacific region</keyword> of the World Customs Organisation (<keyword id="692320" type="ORGANIZATION" weightage="20" keywordseo="WCO">WCO</keyword>).</li><li>The WCO has a 182 different customs administrations under its helm while accounting for 98% of <keyword id="176734" type="ORGANIZATION" weightage="20" keywordseo="global-trade">global trade</keyword>. </li><li>India has put forward four principles that will guide its new leadership role. </li></ul> For the next two years India will the vice-chair for the Asia Pacific region of the World Customs Organisation (WCO). Considering that the organisation collectively looks after around 98% for world trade, India in a leadership position should be a boon for the country. It’s no secret that India serves as a <a href="https://economictimes.indiatimes.com/news/economy/foreign-trade/india-strategic-as-transit-point-for-south-asia-wco-secretary/articleshow/59710054.cms">strategic</a> transit point for South Asia. Especially since ratifying the <a href="https://www.business-standard.com/article/economy-policy/wto-s-trade-facilitation-agreement-comes-into-force-all-you-need-to-know-117022300354_1.html">Trade Facilitation Agreement (TFA)</a> and implementing the <a href="https://www.thehindu.com/business/wco-backs-indias-trade-facilitation-plan/article19326517.ece">National Trade Facilitation Action Plan (NTFAP)</a>, the WCO has used India as an example that other nations should follow. How can India lead? The WCO <a href="http://www.wcoomd.org/en/media/newsroom/2017/may/the-wco-now-has-182-members.aspx">currently</a> has 182 different customs administrations under its umbrella, all across the globe. And the organisation is <a href="http://www.wcoomd.org/en/about-us/what-is-the-wco.aspx">focusing</a> on e-commerce and the challenges that it poses to customs as well as security concerns regarding trade. The WCO thinks that a regional approach will be more effective as compared to a global modus operandi. India itself has declared its four guiding <a href="http://www.wcoasiapacific.org/">principles</a> for leadership. First, it hopes to harness greater communication and connectivity within the region. It’s understandable that this is an underlying principle, as it should be, but India hasn’t seen too much success in this arena considering what happened with <a href="https://timesofindia.indiatimes.com/india/saarc-failed-to-deliver-on-its-promises/articleshow/57234965.cms">SAARC</a>. Nonetheless, India will be the conduit between the Asia Pacific region and the rest of the world in terms of expressing the goals and priorities of the other nations within the paradigm. Its main role will be to find compromise between regional disagreements and global opinion. Next, India has said that it will harness technological advancements. Its imperative that India and the Asia Pacific region do so to keep up with global standards. The WCO instruments align member nations in an inclusive manner. And this is not only in terms of adopting solutions that can handle the immense volume of trade, but also in terms of security and risk management. With gross increase in e-commerce and transactions on the ‘dark web’, the integration of technology is all the more important. Finally, India is seeking consensus on core issues within the organisation. As the vice-chair India has more participatory power to be a part of global exchanges and discussions where its influence and opinion will be seriously considered.

India to lead as vice-chair for the region at the WCO and here’s what it has planned

Several members of the <keyword id="84934" type="ORGANIZATION" weightage="100" keywordseo="World-Trade-Organisation">World Trade Organisation</keyword> were annoyed after India's demands for concessions on agricultural stockpiling led to the failure of the first major global trade reform pact in two decades. 
 
"We have not been able to find a solution that would allow us to bridge that gap," WTO Director General Roberto Azevedo said in Geneva. 
Most diplomats had expected the pact to be rubber-stamped this week, marking a unique success in the WTO's 19-year history, which as per estimates, would add $1 trillion and 21 million jobs. They were anguished when India exercised its veto and the failure drew severe criticism. 
 
"Australia is deeply disappointed that it has not been possible to meet the deadline. This failure is a great blow to the confidence revived in Bali that the WTO can deliver negotiated outcomes," Australian Trade Minister Andrew Robb said. "There are no winners from this outcome - least of all those in developing countries which would see the biggest gains."

WTO Talks Fail As India Remains Adamant

<div style="float: right; margin: 15px 0 20px 20px;"><table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/silk-road-founder-convicted-sentencing-conviction-court-2015-2">Here's the incredible story behind the guy who was just convicted for creating the 'eBay for drugs'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="p2d2wxczptWT5pUwmAdleRGRLaPVA12Y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Etsy is dwarfed by the biggest e-commerce sites in the world

A global trade deal is likely to be signed between India, the United States and the <keyword id="6355110" type="ORGANIZATION" weightage="60" keywordseo="European-Union">European Union</keyword> (EU). The US and the EU may accept India's demand of providing some flexibility to developing countries in fixing the minimum support price for certain crops. In return, India will sign the trade deal on easier customs rules. 
 Praising the efforts of India and the US to end the stalemate, the <keyword id="84934" type="ORGANIZATION" weightage="100" keywordseo="World-Trade-Organisation">World Trade Organisation</keyword> (WTO) director general Roberto Azevedo has expressed hope that talks will be fruitful and help end the deadlock. "The director general was pleased to hear that the dialogue between the US and India had resumed. He hopes that this dialogue will continue and will be fruitful in advancing efforts to resolve the current impasse, but he is not aware that any understanding has been reached as yet," as per a statement issued by WTO. 
 
The tough stand taken by India has plunged the WTO into its worst crisis in two decades. This had led WTO Director General Roberto Azevedo to consider the idea of abandoning the consensus principle on which the organisation works. There was a deadlock after India refused to agree to a trade facilitation agreement, unless its concerns on food security were addressed.

Global Trade Deal Likely To Be Signed As WTO Talks Back On Track

<ul><li>Competition heats up after <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> closes its $16 billion acquisition of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>.</li><li>Alibaba and <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> are said to be eyeing large investments of their own.</li><li>Conventional retail and <keyword id="35621" type="PERSON" weightage="20" keywordseo="e-commerce">e-commerce</keyword> players are coming together for a hybrid online-offline business model.</li></ul>A turf war is about to break out among Walmart, Amazon Inc. and <keyword id="163405" type="COMPANY" weightage="20" keywordseo="Alibaba-Group">Alibaba Group</keyword> as the retail giants make aggressive moves to expand into <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>. And it is highly likely that this will lead to a massive shakeup of the Indian retail space. Last week, Walmart said it had <a href="https://www.businessinsider.in/indias-competition-regulator-has-given-the-walmart-flipkart-deal-a-greenlight/articleshow/65337242.cms">closed</a> the $16 billion (₹1,118 billion) deal to buy the majority (77%) of Flipkart, India’s largest e-commerce company, following regulatory approval. This is Walmart’s biggest acquisition till date. In its aftermath, Alibaba and Amazon are said to be eyeing large investments of their own, according to media reports. Alibaba is said to be <a href="https://www.livemint.com/Companies/1mvbhDUjZd9khrSUroW5MM/Alibaba-may-invest-5-billion-in-JV-with-Reliance-Retail.html">considering</a> a $5 billion (₹350 billion) investment into a joint venture with <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>, India’s largest retailer in terms of sales, in part to take on competition from Amazon and Flipkart. While Amazon, along with co-investors, is mulling an investment in the Aditya Birla Group-owned grocery chain, More, for an enterprise valuation between ₹45 billion and ₹50 billion. Alibaba has reportedly also held talks with other Indian retail chains including Future Retail. In the past few years, Amazon has pumped in over $5 billion into India, its fastest growing market. Amazon and Walmart have been in fierce competition in their home market, the US, for quite some time, while Alibaba and Amazon are head-to-head in China. Some fear that Walmart’s push into India could potentially have an adverse impact on the larger Indian retail space in the long term, particularly on the small brick and mortar retailers in the country. A nation-wide trade lobby group plans to protest the Flipkart acquisition by going on a nationwide strike in the coming months. Currently, over 95% of India’s consumer retail market remains unorganised, representing a huge untapped opportunity for organised retail chains. India has long restricted <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> in multi-brand retail to protect local grocers but allows 100% foreign direct investment in e-commerce companies that use the “marketplace” model. It is currently considering bringing in regulation for the e-commerce space and according to a recent draft proposal, may allow 49% foreign investment in e-commerce companies that use the inventory model. Walmart in its recent statement said its future investments into India will be directed at supporting farmers, supply chain development and reducing food waste. Strategy shift: Going hybrid Walmart’s acquisition of Flipkart and Amazon’s interest in More are the latest examples of large retailers adopting a hybrid business model of offline and online after years of experts predicting the disruption of traditional retail by e-commerce companies. Alibaba and Amazon have recently been focusing heavily on offline and online in their home markets – Amazon with its acquisition of grocery chain Whole Foods and Alibaba’s ‘New Retail’ strategy, which combines e-commerce and conventional retail in China. That rationale appears to be flowing down into their India strategy as well, points out Mrigank Gutgutia, engagement manager with RedSeer Management Consulting. Amazon also owns a 5% stake in Indian brick and mortar retail chain Shoppers Stop. While the Walmart-Flipkart deal is certainly encouraging for e-commerce players, even after 10 years and 100 million shoppers, Indian e-tailers have thus far managed to penetrate only about 2.7% of the overall Indian retail market, indicating the pressure to diversify their reach, notes Gutgutia. “While e-tailers have got their growth mojo back, everyone is starting to realise that pure online models will only let them capture limited pie,” said Gutgutia. “There is a need for change,” he added. Overall, as Indian e-commerce market matures further, e-tailers are realising that pure discount-driven models are no longer going to work. “What is needed is genuine innovation to cater to specific traits and needs of Indian buyers -- especially in offline-heavy categories like fashion and grocery,” said Gutgutia. According to RedSeer, this multi-channel approach will become dominant among organised retail players in the coming years, particularly for e-commerce players. Other e-tailers who have ventured into offline include furniture retailer Pepperfry with its studios and fashion retailer Myntra's Roadster stores. Regardless of how the investment landscape pans out and who buys whom, and as competition gets more intense for existing e-commerce and offline retailers, ultimately shoppers and customers are expected to win. As for small retailers, Gutgutia says they could see a positive impact if they work on a partnership model with organised retailers.

Clash of the titans: Amazon, Walmart and Alibaba to battle it out in India

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Larry Busacca/Getty</div></div></div>Bridgewater Associates, the world's largest hedge fund, is building an artificial intelligence engine to automate the management of the company, <a href="http://www.wsj.com/articles/the-worlds-largest-hedge-fund-is-building-an-algorithmic-model-of-its-founders-brain-1482423694">according to a report in the Wall Street Journal</a>.Ray Dalio, Bridgewater's founder, wants the AI system to handle everything from the day-to-day management of investments down to organising staff's days and even hiring and firing, according to the report.Bridgewater, which has $160 billion (£130 billion) under management, already has algorithms that inform the strategy of its "Pure Alpha" fund, measuring hundreds of economic data points. But the new AI system, referred to as the "Book of the Future" by Dalio and the Principles Operating System officially, would apply data science principles to management, picking up on internal data points such as personality tests and internal polls in meetings.The project is being run by David Ferrucci, <a href="http://www.wsj.com/articles/the-worlds-largest-hedge-fund-is-building-an-algorithmic-model-of-its-founders-brain-1482423694">according to the Journal</a>. Ferrucci was one of the leading developers on IBM's Watson project, one of the most advanced AI systems in the world that is <a href="http://www.nytimes.com/2016/10/17/technology/ibm-is-counting-on-its-bet-on-watson-and-paying-big-money-for-it.html?_r=3">better at detecting cancer in patients than human doctors.</a>Dalio hopes that the Principles Operating System will make three-quarters of management decisions within five years. One employee told the Journal that the project is "like trying to make Ray's brain into a computer."Artificial intelligence has become one of the hottest areas of technology in the last few years, led by cutting edge <a href="http://uk.businessinsider.com/deepminds-ceo-outlined-the-companys-2-major-areas-of-innovation-2016-11">development projects such as Google's DeepMind.</a>Meanwhile, the barriers to entry for the kind of algorithmic trading that informs the "Pure Alpha" fund have come down (although there of course remains a premium on the unique trading strategy.) There have been a slew of so-called "robo advisors" popping up across the world. These online investment companies let people put their money into often automated trading strategies, <a href="http://uk.businessinsider.com/fintech-robo-advisor-scalable-capital-hits-100-million-in-assets-2016-12">such as the one offered by startup Scalable Capital.</a>Scalable, developed by former Goldman Sachs, Barclays, and McKinsey staff, is built around an investment algorithm that forecasts risks and then automatically optimises people's portfolios on the fly to limit losses.<div id="categorypromo"><h2>Learn more:</h2><ul><li><a href="http://read.bi/pay1">Credit Card Industry and Market</a></li><li><a href="http://read.bi/pay2">Mobile Payment Technologies</a></li><li><a href="http://read.bi/pay3">Mobile Payments Industry</a></li><li><a href="http://read.bi/pay4">Mobile Payment Market, Trends and Adoption</a></li><li><a href="http://read.bi/pay5">Credit Card Processing Industry</a></li><li><a href="http://read.bi/pay6">List of Credit Card Processing Companies</a></li><li><a href="http://read.bi/pay7">List of Credit Card Processing Networks</a></li><li><a href="http://read.bi/pay8">List of Payment Gateway Providers</a></li><li><a href="http://read.bi/pay9">M-Commerce: Mobile Shopping Trends</a></li><li><a href="http://read.bi/pay10">E-Commerce Payment Technologies and Trends</a></li></ul></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/inventors-killed-inventions-titanic-marie-curie-hang-glide-2016-11">7 inventors who were killed by their own inventions</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VsMGYwMDE6fvg6irQt8i2KueCbxtIwrO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The world's largest hedge fund is building an AI engine to manage the company

New Delhi, May 5 () There is a "glaring" need to bridge the digital divide, both within and across countries, as the digital economy has played a key role during the current COVID-19 crisis, according to a report by the World Trade Organization (WTO). The report has argued that the experiences and lessons emerging from the COVID-19 crisis could be a further incentive for global cooperation in the area of e-commerce, which could help to facilitate cross-border movement of goods and services, narrow the digital divide, and level the playing field for small businesses. It said certain traditional obstacles have been accentuated and have continued to hamper greater participation in e-commerce activities by small producers, sellers and consumers in developing countries, particularly in least-developed countries (LDCs). "The pandemic has highlighted the glaring need to bridge the digital divide, both within and across countries, given the central role the digital economy has played during the crisis," it said. It also said that e-commerce for goods and services trade has been adversely impacted by the factors that have caused disruption in supply and demand overall and such disruptions have resulted in delivery delays or outright cancellation of orders. Several other e-commerce-related challenges have arisen or been further amplified during this pandemic such as increasing prices to unreasonably high levels, product safety concerns, deceptive practices, and cybersecurity concerns, the report said. It, however, said the enforcement of social distancing, lockdowns and other measures in response to the COVID-19 pandemic has led consumers to ramp up online shopping, social media use, internet telephony and teleconferencing, and streaming of videos and films. "This has resulted in spikes in business-to-consumers (B2C) sales and an increase in business-to-business (B2B) e-commerce. The increase in B2C sales is particularly evident in online sales of medical supplies, household essentials and food products," it added. It said that demand has also increased for internet and mobile data services. It added that the pandemic has made it clear that e-commerce can be an important tool or solution for consumers. "The global nature of COVID-19 and its impact on e-commerce may encourage strengthened international cooperation and the further development of policies for online purchases and supply...E-commerce can also support small businesses and, by making economies more competitive, be an economic driver for both domestic growth and international trade,"it added. The WTO work programme defines electronic commerce as the production, distribution, marketing, sale or delivery of goods and services by electronic means. With a fast growing e-commerce sector both in India and globally, the rich nations want specific guidelines on the sector at the WTO. RR HRS

Need to bridge digital divide as tech has played key role during COVID-19 crisis: WTO report

<ul><li>US President Donald Trump is going up against the World Trade Organisation (WTO) after miscalculating anti-subsidy tariffs against China. </li><li>Despite the global trade watchdog’s ruling back in 2012, the US has failed to remove excess tariffs against Chinese subsided goods like solar panels, wind towers, and steel cylinders etc. </li><li>WTO has warned that if the US continues to undermine the global organisation, it could face Chinese sanctions. </li></ul>Trade tensions between China and the US are all set to worsen a the World Trade Organisation (<a href="https://www.wto.org/english/news_e/news19_e/437abrw_e.htm">WTO</a>) opens the doors for <keyword id="7877831" type="UNKNOWN" weightage="20" keywordseo="chinese-sanctions-on-us">Chinese sanctions on US</keyword> goods. The global trade watchdog is calling on the US to fix a mistake that was pointed out back in 2012. The US miscalculated the anti-subsidy tariffs levied against Chinese exports valued at $7.3 billion at the time. The trade organisation also pointed that the US had to accept Chinese to measure subsidies even if the US Trade Representative (USTR) saw them as ‘distorted’. So far, the US has not complied with the ruling and if it doesn’t fix the mistake even now, China is within its rights to impose its own sanctions on American goods, according to the WTO. It’s a stand-off between the <a href="https://ustr.gov/about-us/policy-offices/press-office/press-releases/2019/july/statement-wto-appellate-report-china">USTR</a> and the <a href="http://english.mofcom.gov.cn/article/newsrelease/policyreleasing/">Chinese Commerce Ministry</a> with the WTO trying to relieve some of the trade pressure that’s spilling over onto the global economy. <div type="ExtQuote" text="This conclusion ignores the findings of the World Bank, OECD working papers, economic surveys, and other objective evidence, all cited by the United States." auname="Statement by USTR"></div>

 Point of impact The global trade watchdog already expressed its displeasure on the US-China trade war causing a ‘dramatic spike’ in trade barriers and now its calling on the US to fix its mistake. Neither, China or the US, seem to be in the mood to back down. Zhang Lifan, Zhang Lifan, a Beijing-based commentator, <a href="https://www.scmp.com/news/china/diplomacy/article/3018734/chinas-commerce-minister-says-us-responsible-trade-war-and">stated</a>, “China is in no hurry to reach a deal and ready for protracted talks.” Scott Kennedy, an economist with Washington-based think tank the Centre for Strategic and International Studies, told <a href="https://www.scmp.com/news/china/diplomacy/article/3018734/chinas-commerce-minister-says-us-responsible-trade-war-and">SCMP</a> that Zhong Shan’s — China’s commerce minister — greater prominence meant China had lost interest in addressing US concerns in the talks. The Asian nation is already looking to sanction American companies for selling arms to Taiwan and Donald Trump, the US President, stated that since China wasn’t buying enough agricultural produce from the US — like it apparently promised — he might impose tariffs on Chinese goods worth $325 billion.

US and China trade war may escalate after the latest WTO ruling

New Delhi, Dec 2 () The country's warehousing sector has attracted an investment of Rs 25,400 crore since 2017 and the inflow is likely to reach Rs 49,500 crore by 2021 on robust demand for logistics space by e-commerce companies, according to global property consultant Colliers.
 The industrial and warehousing sector in India has attracted significant investor interest since 2017 led by robust demand from e-commerce and other consumer-led occupiers, it said.
 "The sector has attracted interest from multiple large institutional investors since 2017, with investment inflows of Rs 254 billion (USD 3.6 billion), signifying a large pool of capital available for investment in this sector. We project the investment inflow is likely to touch Rs 495 billion (USD 7 billion) by 2021 as existing participants expand their portfolio and new players enter the market," the consultant said.
 Colliers noted that this sector in the past has been characterised by fragmented sheds and godowns but now, it is becoming organised because of demand for larger facilities from e-commerce companies.
 "Occupiers mulling large contiguous warehouse leases, especially in the e-commerce and 3PL (third-party logistics) sectors, should look at select micromarkets in Mumbai and Pune that offer a good mix of industrial and multi-purpose warehouses.
 "Bengaluru should also be explored as it offers seamless transfer of goods between states, benefitting from the removal of state-level taxes," said Colliers International India Managing Director and Chairman Sankey Prasad.
 On factors driving industrial and warehousing demand, Colliers said the sector is benefiting from government policy initiatives such as the goods and services tax (GST) implementation and the Make in India programme, as well as global trade dynamics and evolving consumption patterns.
 The initiatives augmented growth and private sector participation in a sector which was not well-regulated, it added.
 Colliers has operations in 68 countries with an employee strength of 14,000. In 2018, corporate revenues were USD 2.8 billion (USD 3.3 billion including affiliates), with more than USD 26 billion of assets under management. MJH HRS

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