Trade ministers of the 16-nation RCEP grouping will meet in Bangkok on October 10-12, in what could be the last ministerial before a potential deal is sealed in November.
The steel industry has expressed serious concern with Government inching close to signing Regional Comprehensive Economic Partnership which will open duty-free imports into the country from China.
New Zealand and Australia were negotiating "very hard" with India at RCEP-FTA to reduce duty on dairy products so that they can get access to the world’s largest market of dairy products.
India’s bilateral trade talks with the US will continue when commerce and industry minister Piyush Goyal meets US commerce secretary Wilbur Ross on the sidelines of the India Economic Summit later this week.
India may cut or eliminate tariffs on 80% of products imported from China under a 16-country free trade agreement, the last round of negotiations for which is underway in Vietnam.
To sign the RCEP and start negotiations on a FTA with the US when the Indian economy is on the brink of economic downturn and needs strong domestic policies is a decision that is not in national or public interest.
The proposed agreement will have far-reaching consequences on dairying, agriculture and fishery sector sectors, says State Agriculture Minister
India and Chile have formally exchanged the terms of reference for expanding the bilateral preferential trade agreement (PTA).
India Prime Minister and his counterpart from Belgium agreed to intensify their efforts on early conclusion of negotiations on the bilateral investment and trade agreement.
Prime Minister Narendra Modi and US President Donald Trump failed to clinch a ‘limited’ but much-anticipated trade deal at their bilateral meeting in New York Tuesday even though the two sides had worked hard to put one together.
The deal will affect access to medicines and seeds by raising the standards of intellectual property rights, claims Forum of Trade Justice.
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.