The two aim for a free trade agreement (FTA) in the long run and have been working on an initial trade deal for almost two years amid a plethora of bilateral issues ranging from medical devices, agriculture, Harley Davidson motorbikes, e-commerce, totalisation pact, visa issues and disputes at the World Trade Organization.
India has a Bilateral Investment Treaty with China since 2007. The treaty provides foreign investors the right to fair and equitable treatment.
India has offered to partially open up its poultry and dairy markets in a bid for a limited trade deal during US President Donald Trump’s first official visit.
India has decided to pull out of the RCEP, an invitation to join later still standing. Even though the reasons provided for this fallout do not mention it, but one of the major contentions was the e-commerce chapter to which India did not relent.
Negotiators representing 16 countries have been tasked with arriving at an agreement on the controversial Regional Comprehensive Economic Partnership by October 19 but trade unions say the deal has grave consequences.
If India is going ahead with RCEP negotiations, India must insist on rules of origin mandating significant domestic value addition in the country of the final exporter as well as strengthen bilateral mechanisms for ensuring compliance.
RCEP meet: India had proposed certain tweaks in the negotiating text of electronic commerce during the 9th Intersessional Ministerial Meeting.
India has proposed locating computing facilities inside the country if it is meant to protect its essential security interests and national interests at the the ongoing negotiations of the proposed RCEP trade agreement.
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.
Both countries are frantically working on ways to resolve long-disputed trade issues, especially relating to medical devices, agriculture, and e-commerce.
On March 8, trade representatives from eleven Pacific rim countries including Canada, Mexico, Japan, and Australia are expected to ratify the Trans-Pacific Partnership, now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The agreement has been slimmed down both in its content—22 items in the text have been suspended, including the bulk of the intellectual property chapter—and also in its membership, with the exclusion of the United States which had been the driver of those suspended provisions.
Freeing up digital trade under RCEP could hurt consumer protection, manufacturing sector
India must first secure its digital sovereignty before it can begin global trade talks.
Control over data will yield tremendous influence and profit-making, experts say.
India has so far rejected bids to include market access negotiations on e-commerce at multilateral level.
A scrutiny of TPP, TISA and RCEP provisions that deal with IP and the digital economy vis-a-vis the current Indian legal standard.
Several startups and civil society members fought hard over the last year to prevent the allowing of software patents in India.
India and EU have failed to made the much-awaited announcement on resumption of long stalled negotiations for a free trade agreement as many bottlenecks still remain.
Representatives of industry raised concerns about the impact of various free-trade agreements (FTAs) on the country’s trade and sought more clarity on guidelines governing e-commerce in a meeting with commerce and industry minister Nirmala Sitharaman on Thursday.
In its Foreign Trade Policy statement, issued in March, the commerce ministry talked of a relative lack of awareness about the potential benefits from free trade agreements (FTAs). Also, that industry is not adequately oriented to using such FTAs to find new markets and products, except when these adversely affect their business.