While India has not yet signed the Regional Comprehensive Economic Partnership agreement, it has accepted suggestions of other countries regarding rules on investments.
India is expected to open its market for US farm, pharmaceutical and communication technology products. The US would in return restore partially benefits accorded to Indian exporters under the Generalized System of Preferences.
China, he said, had never pursued a trade surplus and the trade imbalance with India was “largely the result of differences in their industrial structures.
India continues to grapple with the dilemma of wanting to stay in the group while protecting the interests of its vulnerable sectors and is yet to reach an understanding with other members, including China, on market opening commitments.
The ‘limited’ trade package was given final shape when Commerce Minister Piyush Goyal met US Trade Representative Robert Lighthizer in New York Monday.
A Free Trade Agreement with the US will likely result in the amendment of the Patents Act, which could impact the Indian pharma industry.
In the recent round of negotiations for RCEP, India pushed to include the Automatic Trigger Safeguard Mechanism, or ATSM, which will automatically increase levies once imports cross a given threshold
Both countries are frantically working on ways to resolve long-disputed trade issues, especially relating to medical devices, agriculture, and e-commerce.
Steel companies, already reeling under a demand slump, will be against another stumbling block in the form of the proposed RCEP trade agreement.
The Trump administration is racing to announce limited trade deals with Japan and India, as President Trump tries to score some wins amid a protracted trade fight with China
Joining the RCEP could be counter-productive given the existing inefficiencies of Indian producers. These need to be fixed first.
The National Dairy Development Board (NDDB) has recommended the government to keep the dairy sector out of the purview of negotiations under the Regional Comprehensive Economic
The impending conclusion of negotiations for the contentious RCEP trade deal may have forced the Indian government to announce a comprehensive package for exporters to boost their competitiveness.
High growth has granted the country global relevance but others may not support us if they don’t see an economic upside.
India’s indecisive stance on the RCEP and agreement to review the FTA with the ASEAN indicates it has been evaluating options outside the larger regional group as well.
Farmers say pact to join regional economic partnership will unsettle domestic farming.
India’s decision to review its free trade agreement (FTA) with ASEAN is not seen as affecting the talks on the Regional Comprehensive Economic Partnership (RCEP), which are expected to be completed by year-end.
India and 10-member bloc of South-East Asian nations have agreed to review their free trade agreement, signed in 2009, to make it more business-friendly and boost economic ties.
A spat between the world’s most populous countries is holding up a pan-Asian trade agreement encompassing nearly a third of all global trade.
UK’s Cairn Energy on Tuesday said the arbitration process against India on imposition of retrospective tax demand is likely to be protracted and a decision is not expected before late 2019.