Skip to content
Search

Latest Stories

COVID-19 might impact India’s trade worth $348 million: UN report

THE trade impact of the coronavirus epidemic for India is estimated to be about $348 million, said the United Nations Conference on Trade and Development (UNCTAD) report.

India is among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade.


For India, the trade impact is estimated to be the most for the chemicals sector at $129 million, textiles and apparel at $64 million, automotive sector at $34 million, electrical machinery at $12 million, leather products at $13 million, metals and metal products at $27 million and wood products and furniture at $15 million.

Further, the outbreak may result in a $50 billion decrease in exports across global value chains, the report said.

The most affected sectors include precision instruments, machinery, automotive and communication equipment.

The trade impact for India is less as compared to other economies such as EU, the US, Japan and South Korea.

“The 2 per cent contraction in China's manufacturing output has ripple effects through the global economy and thus far has caused an estimated drop of about $50 billion across countries," UNCTAD said.

Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said for developing economies that are reliant on selling raw materials, the effects could be felt “very, very intensely.”

As per the report, the most affected economies are the European Union ($15.6 billion), the US ($5.8 billion), Japan ($5.2 billion), South Korea ($3.8 billion), Taiwan ($2.6 billion) and Vietnam ( $2.3 billion).

More For You

Shabana Mahmood

Shabana Mahmood (Photo: Getty Images)

Calls grow for Shabana Mahmood to toughen settlement rules

HOME SECRETARY Shabana Mahmood is under pressure to immediately enforce stricter immigration rules as large numbers of migrants approach the point at which they can settle permanently in Britain.

Government figures revealed that from next year about 270,000 migrants will qualify for indefinite leave to remain (ILR), the legal right to stay in the UK. The number is expected to rise sharply, reaching more than 600,000 by 2028, reported the Times.

Keep ReadingShow less
Kamala Harris calls Biden’s 2024 run ‘recklessness’ in new memoir

Former US vice president Kamala Harris speaks at the Emerge 20th Anniversary Gala in San Francisco, California, on April 30, 2025. (Photo by CAMILLE COHEN/AFP via Getty Images)

Kamala Harris calls Biden’s 2024 run ‘recklessness’ in new memoir

FORMER US vice president Kamala Harris said it was "recklessness" to let Joe Biden run for a second term as president, in an excerpt released on Wednesday (10) from her upcoming memoir.

Harris -- who replaced Biden as the 2024 Democratic presidential candidate but lost to Donald Trump -- admitted that the then-81-year-old got "tired" and was prone to stumbles that showed his age.

Keep ReadingShow less
Tejasvi Manoj

Manoj, from Frisco, Texas, created an innovation called ‘Shield Seniors’, a website designed to help people over 60 identify and report fraudulent messages and emails. (Photo credit: LinkedIn/Tejasvi Manoj)

Indian-American teen Tejasvi Manoj named Time’s ‘Kid of the Year’ 2025

SEVENTEEN-year-old Indian-American Tejasvi Manoj has been named Time magazine’s ‘Kid of the Year’ for 2025 for her work on protecting senior citizens from online scams.

Manoj, from Frisco, Texas, created an innovation called ‘Shield Seniors’, a website designed to help people over 60 identify and report fraudulent messages and emails.

Keep ReadingShow less
Mark Rowley

Met chief Sir Mark Rowley (Photo: Getty Images)

Police watchdog calls for end to recording non-crime hate incidents

THE head of the police inspectorate has said that non-crime hate incidents should be scrapped, arguing that officers must draw a clear line between what is offensive and what is criminal.

Sir Andy Cooke, His Majesty’s Chief Inspector of Constabulary, made the comments as he released his annual report on the state of policing in England and Wales. He said that while much of the public expect officers to tackle serious crime and anti-social behaviour, too much time is being spent on matters that do not amount to criminality.

Keep ReadingShow less
 University of Kent

The Office for Students welcomed the move, saying more universities may look at mergers as many face financial difficulties. (Photo credit: University of Kent)

University of Kent

Kent and Greenwich to merge into UK’s first regional university group

THE UNIVERSITIES of Kent and Greenwich will merge in 2026 to form the UK’s first regional “super-university”.

The new institution, to be called the London and South East University Group, will have one vice-chancellor and around 50,000 students, the BBC reported.

Keep ReadingShow less