The Hindu Editorial (Trade tactics) – Sep 22, 2022

The Government will release a new foreign trade policy in the coming week, that could include measures to help push up goods and services exports as well as rein in the runaway import bill. For further reading, visit “The Hindu”. Below is today’s word list-2 for The Hindu Editorial (Trade tactics) – Sep 22, 2022.

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The Hindu Editorial (Trade tactics) – Sep 22, 2022:

Foreign Trade Policy (noun – Foreign Trade Policy is a set of guidelines and instructions established by the Directorate General of Foreign Trade (DGFT) in matters related to the import and export of goods in India. The Government of India, Ministry of Commerce and Industry announces Export Import Policy every five years.
revamp (noun) – reorganization, restructuring, rearrangement.
amid (preposition) – in the middle of, surrounded by; during.
stuttering (adjective) – relating to something which progresses/develops in an irregular way.
measure (noun) – action, step, procedure.
push up (phrasal verb) – increase, raise.
rein in (phrasal verb) – to control, restrain, restrict, limit someone/something.
runaway (adjective) – rampant, out of control, uncontrolled, unchecked, unbridled, unhindered, unrestrained, ungovernable.
lockdown (noun) – an emergency protocol implemented by the authorities that prevents people from leaving from a place; An extended state of confinement/encirclement/isolation of a person by the authority.
curb (verb) – limit, restrict, control, restrain.
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
extenuating (adjective) – inclining to lessen the seriousness of something.
circumstances (noun) – conditions, context, factors, state of affairs.
stretch (noun) – period, time, duration, span.
drag (verb) – prolong, protract, extend, expand, lengthen.
in the middle of (phrase) – in the midst of; in the process of doing something.
clean slate (noun) – If you start with a clean slate, you do not factor in previous mistakes or failures.
fiscal (adjective) – financial.
fiscal (year) (noun) – financial year.
fire up (phrasal verb) – open up, step up, advance, spur.
put off (phrasal verb) – postpone, delay, defer, put back, hold off.
bolster (verb) – strengthen, support, make stronger, reinforce, buttress.
outbound (adjective) – travelling/going away from a particular place.
baffling (adjective) – perplexing, puzzling, bewildering, mystifying.
enunciate (verb) – pronounce, articulate; express/state.
strategy (noun) – plan of action (in order to achieve a more expansive set of political, economic, and security interests).
cash in on (phrasal verb) – exploit, take advantage of.
seek (verb) – try, aim, attempt, work towards, strive for.
compliant (adjective) – accommodating, cooperative, adaptable; governable, manageable.
incentive (noun) – motivation, encouragement, impetus.
kick off (phrasal verb) – start, begin, get going.
left out past participle of leave out (phrasal verb) – exclude, omit, eliminate, drop, count out, disregard, ignore, reject, neglect.
uncertainty (noun) – unpredictability, unreliability, riskiness/precariousness.
hit (verb) – reach, attain, touch (a level).
slip (verb) – fall, sink, drop, go down, decrease.
slowdown (noun) – economic decline, recession, downturn, depression, slump.
augur well (verb) – bode, indicate, portend (a good outcome).
defer (verb) – postpone, put off, delay, put back, hold off.
leg-up (noun) – support provided to improve one’s situation; contribution, allowance, benefaction.
address (verb) – tackle, deal with, attend to, try to sort out.
buffer (noun) – cushion, shield.
buoyant (adjective) – burgeoning, growing, developing, progressing, expanding, mushrooming, snowballing, ballooning.
Remission of Duties and Taxes on Export Products (RoDTEP) scheme (noun) – It is a new scheme that is applicable with effect from January 1st, 2021, formed to replace the existing MEIS (Merchandise Exports from India Scheme). The scheme will ensure that the exporters receive the refunds on the embedded taxes and duties previously non-recoverable. The scheme was brought about with the intention to boost exports which were relatively poor in volume previously.
remission (noun) – cancellation, suspension, repeal.
keep away from (phrasal verb) – steer clear of, avoid, shun, evade.
Indo-Pacific Economic Framework for Prosperity (IPEF) – IPEF is a US-led economic initiative launched by US President Joe Biden in Tokyo on 23 May, 2022, ahead of the Quad Summit. It seeks to formulate a common set of rules and standards for member countries around the four pillars of connectivity and digital trade; resilient supply chains; clean energy; and corruption-free fair trade. India agreed to be amongst the first 13 members of the grouping, which also includes Australia, Brunei, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
assertion (noun) – declaration, statement, announcement, claim.
bandwidth (noun) – clarity.
free trade (noun) – a policy to eliminate barriers/limits/regulations against imports and exports.
pact (noun) – agreement, treaty, protocol.
negotiation (noun) – discussion, talk, consultation, deliberation, dialogue.
woo (verb) – pursue, tempt, coax, persuade, seek the support of, try to win, try to attract.
Gulf Cooperation Council (GCC) (noun) – a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf except Iraq, namely: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
constraint (noun) – restriction, limitation, restraint.
rope in (phrasal verb) – persuade, convince, urge (someone to take part in an activity).
residual (adjective) – remaining, leftover; lingering, lasting, enduring, abiding, persisting.
clout (noun) – influence, power, weight, sway, leverage.
drive away (phrasal verb) – scare off, scare away, keep away, drive off, drive out, put to flight, send away.
potential (adjective) – prospective, probable, likely, possible, future.