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World Trade Organisation (WTO), Free Trade Agreements (FTA) and Foreign Trade Division has been working in the area of international trade and trade policy. The Division is actively involved in supporting the Government towards making effective strategies for WTO/FTA negotiations, and capacity building of Indian business on trade-related issues; dissemination of information & creating greater awareness among the stakeholders;

World Trade Organisation (WTO), Free Trade Agreements (FTA) and Foreign Trade Division has been working in the area of international trade and trade policy. The Division is actively involved in supporting the Government towards making effective strategies for WTO/FTA negotiations, and capacity building of Indian business on trade-related issues; dissemination of information & creating greater awareness among the stakeholders; increasing their role and participation in trade policy making. Over the years, FICCI’s stand has been reflected in Indian Government’s position at multilateral and various bilateral negotiations. FICCI has been part of Joint Task Forces of several major FTAs (concluded or under negotiation), and actively participated in several Ministerial Conferences of the WTO.

The Foreign Trade Committee regularly interfaces with and submits proposals to the Directorate General of Foreign Trade (DGFT) for necessary changes in the Foreign Trade Policy to simplify export-import procedures and bring about flexibility in various export promotion schemes. The recommendations help the Government in developing schemes and initiatives that are better suited for higher growth in India’s foreign trade, diversification of the trade basket, identifying new markets and generating more employment. Most of the suggestions given by FICCI get incorporated in modifications of the Foreign Trade Policy and its annual supplements.

The division has been organizing various sensitization workshops on issues related to WTO agreements & negotiations for industry representatives and also for Government officials. It also holds stakeholder consultations across the country for seeking inputs on WTO/FTA negotiations, and export-related issues. The division has been working closely with the Ministry of Commerce & Industry, Government of India; State Governments; and a large number of think tanks, institutions and inter-governmental organizations.

The division also comes out with studies, surveys and occasional papers on trade-related issues and state-of-play of negotiations at the multilateral and bilateral levels.

Team Leader

Pragati Srivastava

Director

Timeline

2022
Jun
Press Release

Key decisions taken by the WTO members at MC-12 will benefit India and the developing world: FICCI

2021
Dec
Event

Reimagining Logistics

Aug
Event

E-Masterclass on Customs Issues

Mar
Press Release

Need to ensure that export control regime of dual-use items not an impediment but aligned to India's global commitments: DG, Directorate General of Foreign Trade

2020
Aug
Event

E-Masterclass on Foreign Trade Policy and Constitutional Issues

May
Event

Free Trade & Warehousing Zones (FTWZ) - How could they Support EXIM Trade & Logistics and make India a Manufacturing & International Trading Hub

Event

Interactive Session through Video Conference with Shri Pawan Kumar Agarwal, Special Secretary - Logistics, Ministry of Commerce & Industry

Apr
Event

Online Interactive Session with Shri Amit Yadav, DGFT

2019
Nov
Event

Stakeholders Consultation on Moratorium on Customs Duties on Electronic Transmissions in the WTO

May
Press Release

Utilize Mini-ministerial to create support for revitalizing WTO: FICCI to Government

Mar
Event

Interactive Session with Shri J S Deepak, India's Ambassador to the WTO on "WTO & Multilateral Trading System : Current State-of-Play and the Road Ahead"

Feb
Event

National Conference on Logistics Policy

Jan
Event

Interactive Session on Regional Comprehensive Economic Partnership (RCEP) Agreement

2018
Dec
Press Release

FICCI welcomes easing of US-China trade tensions India must play leading role in reforming WTO: Rashesh Shah, President, FICCI

Nov
Press Release

WTO should be modified, forward-looking, inclusive and deal with issues in a time-bound manner: Suresh Prabhu

Event

Strategic Alliance for WTO and Trade Remedies Law and Practice (SAWTR)

Sep
Event

Launch of the World Bank Group's Regional Trade Reprt "A Glass Half Full - The Promise of Regional Trade in South Asia"

Jul
Press Release

FICCI Welcomes the award of the STA-1 STATUS by the US to India

Apr
Press Release

Inefficient logistics impacting competitiveness of Indian products: MoS Commerce & Industry

Press Release

India must lead in diffusing the possibilities of a global trade war: FICCI

Press Release

Single Nodal Agency created for integrated development of logistics: Suresh Prabhu

Event

Global Logistics Summit

Mar
Press Release

India must lead in defusing the possibilities of a global trade war: FICCI

Feb
Event

Interactive Session on E-Way Bill

2017
Dec
Press Release

Commerce and Industry Minister Suresh Prabhu briefs FICCI members on the WTO ministerial outcome

Event

Interactive Meeting with Commerce and Industry Minister Mr Suresh Prabhu

Press Release

FICCI Welcomes Mid-Term Review of Foreign Trade Policy

Nov
Event

Interactive Session on E-Commerce, Digital Infrastructure, Trade Rules and WTO

Oct
Press Release

Trade will remain fundamental to global economy; needs to evolve with emerging technology, business and policy innovation

Event

Lecture on 'Globalisation and its Challenges to the Trade and Development Agenda'

Jul
Press Release

Implementation of WTO Trade Facilitation Agreement key to boost global trade, says experts

Event

Conference on Trade Facilitation Agreement: Learning from Implementation Experiences

Feb
Event

Workshop on Trade Facilitation in Services

2016
Oct
Event

India-United States Workshop on Trade Facilitation

Press Release

FICCI comments on the launch of dashboard for Foreign Trade Data

Jun
Press Release

FICCI comments on the liberalization of FDI regime

Press Release

49% FDI under the automatic route shall add to ease of doing business and investment in the private security industry

May
Press Release

Govt. urges industry to recommend appropriate tariff rates to propose at the APEC membership negotiations

Event

Stakeholders' Consultation on 'India and APEC: Issues and Options'

2015
Event

Conference on Changing Global Economic Scenario: Implications for India’s Trade Policy and Make in India Programme

Apr
Event

National Seminar on Foreign Trade Policy

Mar
Event

Seminar on 'WTO Agreement on Trade Related Aspects of IPRs and it's Applications'

Press Release

FICCI comments on Trade Data for February 2015

2014
Dec
Event

Brainstorming Session on Trans-Pacific Partnership Agreement (TPP): Issues, Implications and Opportunities for Indian Business

Event

The Bharat Ram Memorial Seminar on "India's Growth Trajectory in a Fractured World Economy: Opportunities and Challenges" with Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI)

Nov
Press Release

New Foreign Trade Policy will focus on trade facilitation, simplifying procedures and diversification of markets & products: Pravir Kumar, DGFT

Event

Round table on 'India’s Foreign Trade Policy'

Press Release

FICCI comments on India-US agreement on food reserves

Event

Asia-Pacific Trade Agreement (APTA) Business Forum

Oct
Event

Industry Consultation on Tariff Liberalization in Regional Comprehensive Economic Partnership (RCEP)

Jul
Press Release

FICCI statement on WTO negotiations

Press Release

FICCI comments on WTO

Press Release

FICCI's Statement on WTO's Trade Facilitation Agreement

Press Release

FICCI comments on Trade Data, released today

Press Release

FICCI comments on Trade Data, released today

Jun
Press Release

"Acceleration in export growth is good news" - Sidharth Birla, FICCI President

Event

Industry Consultation on Rules of Origin in Regional Comprehensive Economic Partnership (RCEP) Agreement

Apr
Press Release

FICCI comments on Trade Data

Event

CUTS 30th Anniversary Thought Leadership Lecture by Mr. Rajeev Kher, Commerce Secretary, Government of India

Mar
Event

Seminar on India's Engagement with Free Trade Agreements (FTAs) Opportunities and Challenges

Event

Seminar on 'Post-Bali Agenda of WTO and Trade Facilitation'

Jan
Event

Bharat Ram Memorial Seminar on 'Banker's New Clothes: what's wrong with Banking and what to do About it' with Professor Martin Hellwig, Distinguished Professor and Director, Max Planck Institute for Research on Collective Goods, Bonn, Germany

Press Release

FICCI Comments on Trade Data (December 2013)

Event

Seminar on Regional Comprehensive Economic Partnership (RCEP)

2013
Dec
Press Release

FICCI Comments on Trade Data

Press Release

FICCI Congratulates Minister Anand Sharma

Nov
Press Release

"If Bali fails to deliver, then it will weaken the multilateralism and the credibility of WTO", says Naina Lal Kidwai

Press Release

FICCI Urges Trade Ministers to Conclude Deal in Bali

Event

Industry Consultation on Trade in Environment Goods

Press Release

FICCI Comments on Trade Data

Oct
Event

WTO, Multilateral Trading System and Bali Ministerial: Where Do We Stand & The Way Forward

Sep
Event

Seminar on Regional Comprehensive Economic Partnership (RCEP)

Aug
Event

Seminar on India's Engagement with Free Trade Agreements (FTAs) and Trade Facilitation: Business Opportunities and Challenges

Event

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Chennai

Event

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Hyderabad

Jul
Event

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Mumbai

Event

Industry Consultation on Rules of Origin in India's Free Trade Agreements(FTAs) - New Delhi

Event

Industry Consultation on India's Export Incentives and Related Issues

Apr
Press Release

FICCI Welcomes Annual Supplement to Foreign Trade Policy "Trade Policy Measures will Boost Exports"

Press Release

WTO must Strengthen Rule-Based Framework and Multilateral Negotiations

Jan
Event

Special Address by Mr Pascal Lamy, Director general, World Trade Organization on "WTO and Multilateral Trading System: The Way Forward to Bali Ministerial"

2012
Dec
Press Release

FICCI comments on Export Sops

Event

Bharat Ram Memorial Seminar on Animal Spirits, Policy Formulation and Economic Stability with Dr Robert J. Shiller, Yale University

Oct
Event

Industry Consultation on Treatment of Remanufactured Goods and Product Coverage of the Information Technology Agreement

Aug
Event

Seminar on 'Impact of WTO and FTAs on Gujarat'

Jul
Press Release

To strengthen multilateral trade agreements, world needs a strong and relevant WTO: Harsha Vardhana Singh, Deputy DG

Event

Stakeholders' consultation on 'Enhancing India-EU Bilateral Trade, Investment and Collaboration in Services'

Jun
Event

Facilitating Trade in South Asia: Sharing Best Practices and Exploring Regional Solutions

Event

National Seminar on Foreign Trade Policy

May
Event

International Conference on Facilitating Trade in South Asia: Challenges and the Way Forward

Press Release

Rupee trade can boost competitiveness of Indian products in trade with Myanmar: FICCI Survey

2011
Dec
Event

Seminar on WTO, Multilateral Trading System and Doha Talks: where do we stand and the way forward

Press Release

FICCI Welcomes Russia's Joining the WTO

May
Press Release

FICCI Holds Industry Consultation on Sectoral Tariff Negotiations in WTO

Event

Industry Consultation on Sectoral Tariff Negotiations in WTO

Event

Seminar on WTO Doha Negotiations : An Update

Mar
Event

Special Address by Prof Jagdish Bhagwati on "International Trade, WTO and India: could we conclude Doha talks by 2011?"

Event

Seminar on Government Procurement Agreement

Feb
Event

Seminar on India-Japan CEPA and India-Malaysia CECA: Opportunities for Indian Business

Jan
Event

Seminar on Doha Development Agenda for Developed Nations: Agriculture Negotiations

2010
Dec
Event

National Seminar on the Business Implications of the Asia-Pacific Trade Agreement (APTA) on india

Nov
Event

Special Address by Mr Pascal Lamy, Director General, World Trade Organisation (WTO) on "WTO and Doha Negotiations: Closing the Gaps and Moving Ahead"

Oct
Event

Special Address by Prof Frederick M. Abbott, Edward Ball Eminent Scholar on the "Proposed Anti-Counterfeiting Trade Agreement (ACTA): Issues and Implications"

Event

Seminar on Anti-Dumping, Anti-Subsidy and Safeguards Practices of the European Union (EU)

Event

National Forum on Aid for Trade:Strengthening South-South Trade & Investment

Aug
Event

National Seminar on Foreign Trade Policy

Event

Seminar on WTO's Government Procurement Agreement

Event

Meeting of FICCI Foreign Trade Committee and Special Address by Dr Harsha Vardhana Singh, Deputy Director General, WTO

Jul
Event

Industry Consultation on India's Free Trade Agreements with EU, Japan and EFTA

Event

Stakeholder Consultation on India-Turkey Free Trade Agreement

Press Release

Lack of Industry Feedback on Protection of Tariff Lines Will Hinder Govt's Ability to Get a Good Doha Deal: Commerce Secretary

Event

Capacity Building Workshop on WTO and Trade lssues

Jun
Event

Special Address by Dr Harsha Vardhana Singh, Deputy Director General, WTO on "WTO Doha Round Negotiations: The Way Forward and Where Does the Balance Lie?"

May
Event

Seminar on Proposed Anti-Counterfeiting Trade Agreement (ACTA) and TRIPs: lssues and Implications

Apr
Event

National Seminar on Transaction Costs

Feb
Event

Seminar on India-ASEAN Free Trade Agreement in Goods: Implementation and Operational Issues

2009
Dec
Event

National Stakeholder consultation on WTO Negotiations

Sep
Event

WTO and Doha Negotiations: What is at Stake, Where Do We Stand and The Way Forward

Aug
Event

National Seminar on Foreign Trade Policy

Event

Lecture by Dr Harsha Vardhana Singh, Deputy Director General, World Trade Organization (WTO) on “Importance of Doha Negotiations in Today’s World”

Event

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

Jul
Event

Special Address by Shri Anand Sharma, Hon’ble Minister of Commerce and Industry on “WTO Doha Negotiations and India: The Road Ahead”

Jun
Event

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

Event

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

May
Event

Roundtable on "Doha Round of Negotiations in WTO: Taking Stock and the Way Ahead"

Events

Dec, 2021

Reimagining Logistics

Dec 14, 2021, Virtual Platform, 3.00 to 4.00 pm

Aug, 2021

E-Masterclass on Customs Issues

Aug 19, 2021, Virtual Platform

Aug, 2020

E-Masterclass on Foreign Trade Policy and Constitutional Issues

Aug 04, 2020, Virtual Platform

May, 2020

Free Trade & Warehousing Zones (FTWZ) - How could they Support EXIM Trade & Logistics and make India a Manufacturing & International Trading Hub

May 29, 2020, Webinar, 03:30 PM - 04:30 PM

Interactive Session through Video Conference with Shri Pawan Kumar Agarwal, Special Secretary - Logistics, Ministry of Commerce & Industry

May 13, 2020, Webinar, 03:00 PM

Apr, 2020

Online Interactive Session with Shri Amit Yadav, DGFT

Apr 30, 2020, Webinar, 03:00 PM

Nov, 2019

Stakeholders Consultation on Moratorium on Customs Duties on Electronic Transmissions in the WTO

Nov 06, 2019, FICCI, New Delhi

Mar, 2019

Interactive Session with Shri J S Deepak, India's Ambassador to the WTO on "WTO & Multilateral Trading System : Current State-of-Play and the Road Ahead"

Mar 09, 2019, FICCI, New Delhi

Feb, 2019

National Conference on Logistics Policy

Feb 19, 2019, FICCI, New Delhi

Jan, 2019

Interactive Session on Regional Comprehensive Economic Partnership (RCEP) Agreement

Jan 11, 2019, FICCI, Federation House, New Delhi

Nov, 2018

Strategic Alliance for WTO and Trade Remedies Law and Practice (SAWTR)

Nov 19, 2018, New Delhi

Sep, 2018

Launch of the World Bank Group's Regional Trade Reprt "A Glass Half Full - The Promise of Regional Trade in South Asia"

Sep 28, 2018, FICCI, New Delhi

Apr, 2018

Global Logistics Summit

Apr 05, 2018, FICCI, New Delhi

Feb, 2018

Interactive Session on E-Way Bill

Feb 06, 2018, FICCI, New Delhi

Dec, 2017

Interactive Meeting with Commerce and Industry Minister Mr Suresh Prabhu

Dec 19, 2017, FICCI, New Delhi

Nov, 2017

Interactive Session on E-Commerce, Digital Infrastructure, Trade Rules and WTO

Nov 01, 2017, FICCI, New Delhi

Oct, 2017

Lecture on 'Globalisation and its Challenges to the Trade and Development Agenda'

Oct 26, 2017, FICCI, New Delhi

Jul, 2017

Conference on Trade Facilitation Agreement: Learning from Implementation Experiences

Jul 21, 2017, FICCI, New Delhi

Feb, 2017

Workshop on Trade Facilitation in Services

Feb 21, 2017, FICCI, New Delhi

Oct, 2016

India-United States Workshop on Trade Facilitation

Oct 17, 2016, New Delhi

May, 2016

Stakeholders' Consultation on 'India and APEC: Issues and Options'

May 31, 2016, FICCI, New Delhi

May, 2015

Conference on Changing Global Economic Scenario: Implications for India’s Trade Policy and Make in India Programme

May 12, 2015, FICCI, New Delhi

Apr, 2015

National Seminar on Foreign Trade Policy

Apr 02, 2015, New Delhi

Mar, 2015

Seminar on 'WTO Agreement on Trade Related Aspects of IPRs and it's Applications'

Mar 27, 2015, Ahmedabad

Dec, 2014

Brainstorming Session on Trans-Pacific Partnership Agreement (TPP): Issues, Implications and Opportunities for Indian Business

Dec 17, 2014, FICCI, New Delhi

The Bharat Ram Memorial Seminar on "India's Growth Trajectory in a Fractured World Economy: Opportunities and Challenges" with Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI)

Dec 12, 2014, FICCI, New Delhi

Nov, 2014

Round table on 'India’s Foreign Trade Policy'

Nov 29, 2014, FICCI, New Delhi

Asia-Pacific Trade Agreement (APTA) Business Forum

Nov 13, 2014, New Delhi

Oct, 2014

Industry Consultation on Tariff Liberalization in Regional Comprehensive Economic Partnership (RCEP)

Oct 15, 2014, FICCI, New Delhi

Jun, 2014

Industry Consultation on Rules of Origin in Regional Comprehensive Economic Partnership (RCEP) Agreement

Jun 06, 2014, FICCI, New Delhi

Apr, 2014

CUTS 30th Anniversary Thought Leadership Lecture by Mr. Rajeev Kher, Commerce Secretary, Government of India

Apr 04, 2014, FICCI, New Delhi

Mar, 2014

Seminar on India's Engagement with Free Trade Agreements (FTAs) Opportunities and Challenges

Mar 15, 2014, Cochin

Seminar on 'Post-Bali Agenda of WTO and Trade Facilitation'

Mar 11, 2014, FICCI, New Delhi

Jan, 2014

Bharat Ram Memorial Seminar on 'Banker's New Clothes: what's wrong with Banking and what to do About it' with Professor Martin Hellwig, Distinguished Professor and Director, Max Planck Institute for Research on Collective Goods, Bonn, Germany

Jan 15, 2014, FICCI, New Delhi

Seminar on Regional Comprehensive Economic Partnership (RCEP)

Jan 09, 2014, New Delhi

Nov, 2013

Industry Consultation on Trade in Environment Goods

Nov 26, 2013, FICCI, New Delhi

Oct, 2013

WTO, Multilateral Trading System and Bali Ministerial: Where Do We Stand & The Way Forward

Oct 07, 2013, FICCI, New Delhi

Sep, 2013

Seminar on Regional Comprehensive Economic Partnership (RCEP)

Sep 12, 2013, FICCI, New Delhi

Aug, 2013

Seminar on India's Engagement with Free Trade Agreements (FTAs) and Trade Facilitation: Business Opportunities and Challenges

Aug 22, 2013, Mumbai

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Chennai

Aug 05, 2013, Chennai

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Hyderabad

Aug 02, 2013, Hyderabad

Jul, 2013

Industry Consultation on Rules of Origin in India's Free Trade Agreements (FTAs) - Mumbai

Jul 29, 2013, Mumbai

Industry Consultation on Rules of Origin in India's Free Trade Agreements(FTAs) - New Delhi

Jul 26, 2013, FICCI, New Delhi

Industry Consultation on India's Export Incentives and Related Issues

Jul 18, 2013, FICCI, New Delhi

Jan, 2013

Special Address by Mr Pascal Lamy, Director general, World Trade Organization on "WTO and Multilateral Trading System: The Way Forward to Bali Ministerial"

Jan 29, 2013, FICCI, New Delhi

Dec, 2012

Bharat Ram Memorial Seminar on Animal Spirits, Policy Formulation and Economic Stability with Dr Robert J. Shiller, Yale University

Dec 12, 2012, FICCI, Federation House, New Delhi

Oct, 2012

Industry Consultation on Treatment of Remanufactured Goods and Product Coverage of the Information Technology Agreement

Oct 11, 2012, FICCI, Federation House, New Delhi

Aug, 2012

Seminar on 'Impact of WTO and FTAs on Gujarat'

Aug 06, 2012, SPIPA's Auditorium, Satellite Road, Opp. ISRO, Ahmedabad, Gujarat

Jul, 2012

Stakeholders' consultation on 'Enhancing India-EU Bilateral Trade, Investment and Collaboration in Services'

Jul 06, 2012, New Delhi

Jun, 2012

Facilitating Trade in South Asia: Sharing Best Practices and Exploring Regional Solutions

Jun 12, 2012, New Delhi

National Seminar on Foreign Trade Policy

Jun 08, 2012, FICCI, Federation House, New Delhi

May, 2012

International Conference on Facilitating Trade in South Asia: Challenges and the Way Forward

May 28, 2012, FICCI, Federation House, New Delhi

Dec, 2011

Seminar on WTO, Multilateral Trading System and Doha Talks: where do we stand and the way forward

Dec 20, 2011, FICCI, Federation House, New Delhi

May, 2011

Industry Consultation on Sectoral Tariff Negotiations in WTO

May 31, 2011, New Delhi

Seminar on WTO Doha Negotiations : An Update

May 10, 2011, New Delhi

Mar, 2011

Special Address by Prof Jagdish Bhagwati on "International Trade, WTO and India: could we conclude Doha talks by 2011?"

Mar 30, 2011, New Delhi

Seminar on Government Procurement Agreement

Mar 22, 2011, New Delhi

Feb, 2011

Seminar on India-Japan CEPA and India-Malaysia CECA: Opportunities for Indian Business

Feb 21, 2011, New Delhi

Jan, 2011

Seminar on Doha Development Agenda for Developed Nations: Agriculture Negotiations

Jan 31, 2011, New Delhi

Dec, 2010

National Seminar on the Business Implications of the Asia-Pacific Trade Agreement (APTA) on india

Dec 07, 2010, New Delhi

Nov, 2010

Special Address by Mr Pascal Lamy, Director General, World Trade Organisation (WTO) on "WTO and Doha Negotiations: Closing the Gaps and Moving Ahead"

Nov 19, 2010, New Delhi

Oct, 2010

Special Address by Prof Frederick M. Abbott, Edward Ball Eminent Scholar on the "Proposed Anti-Counterfeiting Trade Agreement (ACTA): Issues and Implications"

Oct 22, 2010, New Delhi

Seminar on Anti-Dumping, Anti-Subsidy and Safeguards Practices of the European Union (EU)

Oct 21, 2010, Federation House, New Delhi

National Forum on Aid for Trade:Strengthening South-South Trade & Investment

Oct 19, 2010, Federation House, New Delhi

Aug, 2010

National Seminar on Foreign Trade Policy

Aug 24, 2010, New Delhi

Seminar on WTO's Government Procurement Agreement

Aug 19, 2010, New Delhi

Meeting of FICCI Foreign Trade Committee and Special Address by Dr Harsha Vardhana Singh, Deputy Director General, WTO

Aug 05, 2010, New Delhi

Jul, 2010

Industry Consultation on India's Free Trade Agreements with EU, Japan and EFTA

Jul 31, 2010, New Delhi

Stakeholder Consultation on India-Turkey Free Trade Agreement

Jul 28, 2010, New Delhi

Capacity Building Workshop on WTO and Trade lssues

Jul 20, 2010, New Delhi

Jun, 2010

Special Address by Dr Harsha Vardhana Singh, Deputy Director General, WTO on "WTO Doha Round Negotiations: The Way Forward and Where Does the Balance Lie?"

Jun 03, 2010, New Delhi

May, 2010

Seminar on Proposed Anti-Counterfeiting Trade Agreement (ACTA) and TRIPs: lssues and Implications

May 28, 2010, New Delhi

Apr, 2010

National Seminar on Transaction Costs

Apr 27, 2010, New Delhi

Feb, 2010

Seminar on India-ASEAN Free Trade Agreement in Goods: Implementation and Operational Issues

Feb 16, 2010, New Delhi

Dec, 2009

National Stakeholder consultation on WTO Negotiations

Dec 08, 2009, New Delhi

Sep, 2009

WTO and Doha Negotiations: What is at Stake, Where Do We Stand and The Way Forward

Sep 03, 2009, New Delhi

Aug, 2009

National Seminar on Foreign Trade Policy

Aug 28, 2009, New Delhi

Lecture by Dr Harsha Vardhana Singh, Deputy Director General, World Trade Organization (WTO) on “Importance of Doha Negotiations in Today’s World”

Aug 22, 2009, New Delhi

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

Aug 04, 2009, Mumbai

Jul, 2009

Special Address by Shri Anand Sharma, Hon’ble Minister of Commerce and Industry on “WTO Doha Negotiations and India: The Road Ahead”

Jul 29, 2009, New Delhi

Jun, 2009

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

Jun 04, 2009, Ahmedabad

Stakeholder Consultation on India’s FTAs with EU and EFTA Countries

Jun 03, 2009, New Delhi

May, 2009

Roundtable on "Doha Round of Negotiations in WTO: Taking Stock and the Way Ahead"

May 14, 2009, New Delhi

Chair

Mr Harish Ahuja

Managing Director
Shahi Exports Pvt. Ltd.
Foreign Trade and Trade Facilitation Committee

Co-Chair

Mr Anil Mathew

President - Policy Advocacy & Chief Risk Officer
Hindalco Industries Limited
Foreign Trade and Trade Facilitation Committee
United News of India |

FICCI welcomes New Foreign Trade Policy

The Times of India |

India-UK to launch talks on FTA today

Business Standard |

Govt to reveal steps on trade issues over coronavirus soon, FM chairs meet

Finance Minister Nirmala Sitharaman on Thursday chaired a meeting of secretaries to assess the impact of the deadly Coronavirus outbreak on India, as the Centre chalks out measures to address trade concerns.

The Finance Minister reviewed the preparedness to deal with the issues surrounding the outbreak at a time when several sectors, including manufacturing and distribution, raised concern about businesses taking a hit and prices soaring. The Finance Ministry is likely to announce measures to deal with the issues over the outbreak after a meeting with the Prime Minister’s Office (PMO).

Earlier in the day, the industry body, Federation of Indian Chambers of Commerce and Industry (FICCI) pitched for incentivising local manufacturers to exhort them towards making investments and tackle supply disruptions. "There should be incentives and other opportunities to fast track investments in India and position India as an alternative source," Secretary-General, FICCI Dilip Chenoy said.

Both, the finance ministry and the Niti Aayog were "very responsive and the idea of doing sectoral approach to this (problem) and setting up of an inter-ministerial coordination system to address was also appreciable", the secretary-general told PTI.

While the finance minister had earlier denied there was a shortage of raw materials in the manufacturing sector, Niti Aayog along with top executives of the pharma industry and senior officials discussed ways to boost domestic manufacturing of Active Pharmaceutical Ingredients (APIs) amid concerns of a disruption in supplies from China.

Financial Express |

With China being hit by coronavirus, India should look at positioning itself as alternative supply source: FICCI

With many industrial sectors, including pharma, staring at shortage of raw materials due to the coronavirus epidemic in China, industry body FICCI on Thursday pitched for incentivising local manufacturers to exhort them towards making investments and tackle supply disruptions.

“There should be incentives and other opportunities to fast track investments in India and position India as an alternative source,” Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI) Dilip Chenoy said.

He welcomed the “very responsive” approach of the finance ministry and the Niti Aayog to handle the situation.

Both the finance ministry and the Niti Aayog were “very responsive and the idea of doing sectoral approach to this (problem) and setting up of an inter-ministerial coordination system to address was also appreciable”, he told PTI on the sidelines of an event here.

Noting that there were two or three major types of problems, Chenoy said certain companies in India were dependent on raw materials from China and inputs, and they had varying degrees of stocks available with them.

“Therefore, the idea is to find out if there is any way to ensure quicker availability of products and components that have been dispatched from China and were enroute India by shortening the quarantine time or doing some treatment to reduce the quarantine time so that these are available to the companies here,” he said.

Chenoy noted that as different companies in China are coming on stream on different points of time, there was a need to look at developing either some fast-track air cargo or other means to get those products out to India and when these reach India, there is a need to do quick customs clearance.

Asked to suggest some short as well as long-term remedy, he said products that can be procured from other parts of the world should be identified.

“Besides, there should be incentives and other opportunities to fast track investments in India and position India as an alternative source,” he said.

In matters like supply of solar equipment or power plant or some other capital goods projects where items are being imported from China and being delayed, he said banks and financial institutions could play a significant role by extending credit and not declaring them as NPAs.

He also referred to apprehensions of export firms that their financial calculations might go awry in the wake of the coronavirus problem, which was not foreseen.

Chenoy said there were certain challenges in the electric vehicle and vehicle sectors which were hoping that some alternative sources would be found.

Government think tank Niti Aayog along with top executives of the pharma industry and senior officials on Wednesday discussed ways to boost domestic manufacturing of Active Pharmaceutical Ingredients (APIs), amid concerns over supply disruption from China due to the coronavirus outbreak.

The meeting, chaired by Niti Aayog CEO Amitabh Kant, came a day after Finance Minister Nirmala Sitharaman said the government would soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry.

China, which is battling the coronavirus epidemic, is a major supplier of bulk drugs and drug intermediaries to the Indian market. There are concerns about supply disruptions and possible rise in medicine prices.

China accounted for 67.56 per cent of total imports of bulk drugs and drug intermediates at USD 2,405.42 million to India in 2018-19.

According to an official statement issued on Wednesday after the meeting, Kant exhorted the industry to become internationally competitive and go for a global scale of operations.

Outlook |

With China being hit by virus, India should look at positioning itself as alternative supply source: FICCI

With many industrial sectors, including pharma, staring at shortage of raw materials due to the coronavirus epidemic in China, industry body FICCI on Thursday pitched for incentivising local manufacturers to exhort them towards making investments and tackle supply disruptions.

"There should be incentives and other opportunities to fast track investments in India and position India as an alternative source," Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI) Dilip Chenoy said.

He welcomed the "very responsive" approach of the finance ministry and the Niti Aayog to handle the situation.

Both the finance ministry and the Niti Aayog were "very responsive and the idea of doing sectoral approach to this (problem) and setting up of an inter-ministerial coordination system to address was also appreciable", he told PTI on the sidelines of an event here.

Noting that there were two or three major types of problems, Chenoy said certain companies in India were dependent on raw materials from China and inputs, and they had varying degrees of stocks available with them.

"Therefore, the idea is to find out if there is any way to ensure quicker availability of products and components that have been dispatched from China and were enroute India by shortening the quarantine time or doing some treatment to reduce the quarantine time so that these are available to the companies here," he said.

Chenoy noted that as different companies in China are coming on stream on different points of time, there was a need to look at developing either some fast-track air cargo or other means to get those products out to India and when these reach India, there is a need to do quick customs clearance.

Asked to suggest some short as well as long-term remedy, he said products that can be procured from other parts of the world should be identified.

"Besides, there should be incentives and other opportunities to fast track investments in India and position India as an alternative source," he said.

In matters like supply of solar equipment or power plant or some other capital goods projects where items are being imported from China and being delayed, he said banks and financial institutions could play a significant role by extending credit and not declaring them as NPAs.

He also referred to apprehensions of export firms that their financial calculations might go awry in the wake of the coronavirus problem, which was not foreseen.

Chenoy said there were certain challenges in the electric vehicle and vehicle sectors which were hoping that some alternative sources would be found.

Government think tank Niti Aayog along with top executives of the pharma industry and senior officials on Wednesday discussed ways to boost domestic manufacturing of Active Pharmaceutical Ingredients (APIs), amid concerns over supply disruption from China due to the coronavirus outbreak.

The meeting, chaired by Niti Aayog CEO Amitabh Kant, came a day after Finance Minister Nirmala Sitharaman said the government would soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry.

China, which is battling the coronavirus epidemic, is a major supplier of bulk drugs and drug intermediaries to the Indian market. There are concerns about supply disruptions and possible rise in medicine prices.

China accounted for 67.56 per cent of total imports of bulk drugs and drug intermediates at USD 2,405.42 million to India in 2018-19.

According to an official statement issued on Wednesday after the meeting, Kant exhorted the industry to become internationally competitive and go for a global scale of operations.

First Post |

With China being hit by coronavirus, India should look at positioning itself as alternative supply source: FICCI

With many industrial sectors, including pharma, staring at shortage of raw materials due to the coronavirus epidemic in China, industry body FICCI on Thursday pitched for incentivising local manufacturers to exhort them towards making investments and tackle supply disruptions.

"There should be incentives and other opportunities to fast track investments in India and position India as an alternative source," Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI) Dilip Chenoy said.

He welcomed the "very responsive" approach of the finance ministry and the NITI Aayog to handle the situation.

Both the finance ministry and the NITI Aayog were "very responsive and the idea of doing sectoral approach to this (problem) and setting up of an inter-ministerial coordination system to address was also appreciable", he told PTI on the sidelines of an event here.

Noting that there were two or three major types of problems, Chenoy said certain companies in India were dependent on raw materials from China and inputs, and they had varying degrees of stocks available with them.

"Therefore, the idea is to find out if there is any way to ensure quicker availability of products and components that have been dispatched from China and were enroute India by shortening the quarantine time or doing some treatment to reduce the quarantine time so that these are available to the companies here," he said.

Chenoy noted that as different companies in China are coming on stream on different points of time, there was a need to look at developing either some fast-track air cargo or other means to get those products out to India and when these reach India, there is a need to do quick customs clearance.

Asked to suggest some short as well as long-term remedy, he said products that can be procured from other parts of the world should be identified.

"Besides, there should be incentives and other opportunities to fast track investments in India and position India as an alternative source," he said.

In matters like supply of solar equipment or power plant or some other capital goods projects where items are being imported from China and being delayed, he said banks and financial institutions could play a significant role by extending credit and not declaring them as NPAs.

He also referred to apprehensions of export firms that their financial calculations might go awry in the wake of the coronavirus problem, which was not foreseen.

Chenoy said there were certain challenges in the electric vehicle and vehicle sectors which were hoping that some alternative sources would be found.

Government think tank NITI Aayog along with top executives of the pharma industry and senior officials on Wednesday discussed ways to boost domestic manufacturing of
Active Pharmaceutical Ingredients (APIs), amid concerns over supply disruption from China due to the coronavirus outbreak.

The meeting, chaired by NITI Aayog CEO Amitabh Kant, came a day after Finance Minister Nirmala Sitharaman said the government would soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry.

China, which is battling the coronavirus epidemic, is a major supplier of bulk drugs and drug intermediaries to the Indian market. There are concerns about supply disruptions and possible rise in medicine prices.

China accounted for 67.56 percent of total imports of bulk drugs and drug intermediates at $2,405.42 million to India in 2018-19.

According to an official statement issued on Wednesday after the meeting, Kant exhorted the industry to become internationally competitive and go for a global scale of
operations.

Bloomberg Quint |

With China being hit by virus, India should look at positioning itself as alternative supply source: FICCI

With many industrial sectors, including pharmaceuticals, staring at a shortage of raw materials due to the coronavirus epidemic in China, industry body Federation of Indian Chambers of Commerce and Industry on Thursday pitched to incentivise local manufacturers to exhort them towards making investments and tackle supply disruptions.

"There should be incentives and other opportunities to fast track investments in India and position India as an alternative source," Secretary-General of the Federation of Indian Chambers of Commerce and Industry Dilip Chenoy said.

He welcomed the "very responsive" approach of the finance ministry and the National Institution for Transforming India Aayog to handle the situation. Both the finance ministry and the NITI Aayog were "very responsive and the idea of doing sectoral approach to this (problem) and setting up of an inter-ministerial coordination system to address was also appreciable", he told PTI on the sidelines of an event here.

Noting that there were two or three major types of problems, Chenoy said certain companies in India were dependent on raw materials from China and inputs, and they had varying degrees of stocks available with them. "Therefore, the idea is to find out if there is any way to ensure quicker availability of products and components that have been dispatched from China and were en route India by shortening the quarantine time or doing some treatment to reduce the quarantine time so that these are available to the companies here," he said.

Chenoy noted that as different companies in China are coming on stream on different points of time, there was a need to look at developing either some fast-track air cargo or other means to get those products out to India and when these reach India, there is a need to do quick customs clearance. Asked to suggest some short as well as long-term remedy, he said products that can be procured from other parts of the world should be identified.

"Besides, there should be incentives and other opportunities to fast track investments in India and position India as an alternative source," he said. In matters like supply of solar equipment or power plant or some other capital goods projects where items are being imported from China and being delayed, he said banks and financial institutions could play a significant role by extending credit and not declaring them as non-performing assets.

He also referred to apprehensions of export firms that their financial calculations might go awry in the wake of the coronavirus problem, which was not foreseen. Chenoy said there were certain challenges in the electric vehicle and vehicle sectors which were hoping that some alternative sources would be found.

Government think tank NITI Aayog along with top executives of the pharma industry and senior officials on Wednesday discussed ways to boost domestic manufacturing of active pharmaceutical ingredients, amid concerns over supply disruption from China due to the coronavirus outbreak.

The meeting, chaired by NITI Aayog Chief Executive Officer Amitabh Kant, came a day after Finance Minister Nirmala Sitharaman said the government would soon announce measures to deal with the impact of the coronavirus outbreak on the domestic industry.

China, which is battling the coronavirus epidemic, is a major supplier of bulk drugs and drug intermediaries to the Indian market. There are concerns about supply disruptions and a possible rise in medicine prices. China accounted for 67.56 percent of total imports of bulk drugs and drug intermediates at $2,405.42 million to India in 2018-19.

According to an official statement issued on Wednesday after the meeting, Kant exhorted the industry to become internationally competitive and go for a global scale of operations.

ANI |

13th Joint Economic and Trade Committee-Ministers get to Business

In the 13th Joint Economic and Trade Committee meeting in London, Secretary of State for International Trade, Dr Liam Fox, and his counterpart, India's Minister of Commerce, Piyush Goyal, met with businesses to discuss how to ensure UK-India trade relations achieve their full potential.

During this day of trade dialogue and action, three new bilateral business-led working groups were launched to dive into how to unlock remaining barriers to trade in food and drink, life sciences and healthcare, and digital and data services from a business perspective.

These working groups run by the UK India Business Council with the CII and FICCI, will identify solutions to the key issues faced in each sector, making recommendations directly to UK and Indian Ministers.

In an important meeting for Indian business, the UKIBC and CII hosted leading Indian investors in the UK for direct talks with senior Home Office officials as part of consultations on the UK Government's new skills-based immigration White Paper.

It is often said that India will require more access to UK work visas as part of any future trade deal. Engagement with India and Indian businesses has been the top priority for the UK Government since the White Paper was released in December 2018, with the first overseas consultation visit being to India in January this year.

Although India already receives 60 per cent of all work visas the UK issues - more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India.

India's Minister of Commerce, Piyush Goyal, also met a diverse group of UK businesses including SMEs and MNC investors to discuss market access barriers and delivering ease of doing business reform in a meeting that included Secretary of State for Housing, Communities and Local Government, James Brokenshire, UK High Commissioner to India, Sir Dominic Asquith, KCMG, and the Indian High Commissioner to India, Ruchi Ghanashyam.

Across all sectors, it became clear throughout the day that taking Ease of Doing Business reforms down to the state and district levels will be a major part of transforming the day-to-day operating environment, especially for SMEs.

Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates would signal India's national determination to be a global, high-value, manufacturing hub.

"The early signs from the newly re-elected Government in India suggest serious commitment towards stepping up ease of doing business reform. Based on today's JETCO discussions between Ministers and businesses on both sides, there is real optimism that India will break into the top-50 for ease of doing business globally, and should set its sights yet further still as the UK seeks to forge an ever closer and strategic post-Brexit relationship with India", said Richard Heald, CEO, UKIBC.

UK-India trade relations are reviewed annually at the Joint Economic and Trade Committee (JETCO) between the UK's Secretary of State for International Trade and India's Minister of Commerce, and today saw its 13th session having been established in 2005.

The New Indian Express |

India and UK set up three new bilateral trade working groups

India and the UK have agreed to set up three new bilateral working groups to tackle barriers to trade in specific sectors of food and drink, healthcare and data services as part of the Joint Economic and Trade Committee (JETCO) meeting in London on Monday.

The three new business-led working groups will be run by the UK India Business Council (UKIBC) alongside the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI). "What makes JETCO so important is that it is more than just a government to government bilateral, there is the direct involvement of business," UKIBC Chief Operation Officer (COO) Kevin McCole told PTI in an interview.

"Today saw the launch of three new bilateral business-led working groups to take deep dive into the issues, from a business perspective, and make recommendations to ministers on how to unlock remaining barriers to trade in food and drink, life sciences and healthcare, and digital and data services," he said.


The purpose of JETCO is to identify and find solutions to, non-tariff barriers to trade. "The Joint Trade Review, launched in November 2016, has made good progress - bilateral trade grew 22 per cent in 2018, against the average of 8.8 per cent per annum since 2002," McCole said.

The latest JETCO meeting, which included bilateral trade talks between India's commerce and industry minister Piyush Goyal and UK secretary of state for international trade Liam Fox, is the 13th such meeting to take place between the two countries.

The UKIBC, a membership-based non-profit body set up to promote the UK-India economic partnership, plays the role of a Secretariat for the JETCO talks and provides a forum for UK companies to enhance their links and develop new partnerships with Indian businesses.

"The UKIBC organised what was a fascinating and open meeting for minister Goyal to meet major UK businesses that have invested significantly in India. There was positivity about the Indian economy and a sense of shared ambition that India should be a global economic superpower within the next decade. There was also recognition that reform was needed to achieve this, and a range of ideas were put forward," McCole said.

The UKIBC said in reference to the meeting that UK businesses felt encouraged that the Indian government is committed to serious higher education reform focusing on delivering world-class graduates.

UK businesses also expressed their support for transforming India's immense data cache into AI solutions, which will revolutionise sectors as diverse as healthcare, education, and agriculture. "Certainty on a sector-agnostic, intuitive, and transparent data protection framework enforced by an independent and tech-savvy Data Protection Authority will maximise trust and lay the ground-work for a UK-India Common Data Agreement," McCole explained.

In healthcare, the UKIBC feels that the success of Ayushman Bharat will rapidly increase demand for pharmaceuticals.

In order to augment supply, India stands to benefit from building on international best practice to design a new drug pricing framework that enhances pharmaceutical quality, availability and affordability for Indian citizens.

"Taking Ease of Doing Business reforms down to the State and District levels will be a major part of transforming the day-to-day manufacturing environment, especially for SMEs. Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates, and reforming the defence offset rules would signal India's national determination to be a global, high-value, manufacturing hub," McCole said.

In reference to the prospects of a post-Brexit free trade agreement (FTA) between India and the UK, the UKIBC believes that such an agreement will come in time, but there is a great deal that can be done to address the barriers to trade and investment, including any sticking points around ease of movement for students and professionals.

McCole said, "It is often said that India will require more access to UK work visas as part of a trade deal. An important part of today's JETCO was a meeting between Indian businesses and the Home Office officials leading the consultation on the UK's Skills-Based Immigration White Paper. Although India already receives 60 per cent or all work visas the UK issues - more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India."

According to some latest official statistics, between 2000 and 2018, investments directly from the UK amounted to USD 26.09 billion, representing 7 per cent of total FDI into India, ahead of the US and Germany at 6 per cent and 3 per cent respectively.

The UK also prides itself at consistently being one of the top five investing countries in India over the last 18 years and is the fourth largest investor in India, having invested USD 26.09 billion after Mauritius, Singapore and Japan from April 2000 to June 2018. "The UK and India have an incredibly close relationship- Nevertheless, from this position of strength, there is certainly more to be done to grow bilateral trade, investment and partnerships," McCole said.

Against the backdrop of the latest JETCO talks, the UKIBC has highlighted the scope to expand tech and innovation collaborations between the two countries. It believes that more UK manufacturers could explore India, with the Indian government's Access India Programme working on helping small and medium enterprise (SME) manufacturers from the UK to the 'Make in India' initiative.

United News of India |

India, UK to boost trade in food, healthcare and data services

India and the UK have launched three new working groups to surmount barriers to bilateral trade in food and drink, life sciences and healthcare, and digital and data services.

These working groups, to be run by the UK India Business Council with business chambers CII and FICCI, will identify solutions to the key issues faced in each sector and make recommendations directly to ministers of the two countries.

This followed talks Commerce Minister Piyush Goyal had on Monday with Trade Secretary Liam Fox about ways to strengthen trade and cooperation between two nations.

India and the UK review trade relations annually at the Joint Economic and Trade Committee (JETCO) and Monday saw its 13th session having been established in 2005. An array of issues were discussed under the framework.

Goyal also met a diverse group of UK businesses, including SMEs and MNC investors to discuss market access barriers and delivering ease of doing business reform in a meeting that included Secretary of State for Housing, Communities and Local Government, James Brokenshire, UK High Commissioner to India, Dominic Asquith and the Indian High Commissioner Ruchi Ghanashyam.

Goyal also attended a breakfast meeting hosted by High Commissioner Ghanashyam along with Members of the UK Parliament and discussed various topics to boost economic engagement between the two nations.

The Indian government has been taking Ease of Doing Business reforms down to the State and District levels which will be a major part of transforming the day-to-day operating environment, especially for SMEs.

Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates would signal India’s national determination to be a global, high-value, manufacturing hub. "

The early signs from the newly re-elected Government in India suggest serious commitment towards stepping up ease of doing business reform. Based on today’s JETCO discussions between ministers and businesses on both sides, there is real optimism that India will break into the top-50 for ease of doing business globally, and should set its sights yet further still as the UK seeks to forge an ever closer and strategic post-BREXIT relationship with India,” said UK India Business Council CEO, Richard Heald.

In an important meeting for Indian business, the UKIBC and CII hosted leading Indian investors in the UK for direct talks with senior Home Office officials as part of consultations on the UK Government’s new skills-based immigration White Paper.

It is often said that India will require more access to UK work visas as part of any future trade deal.

Engagement with India and Indian businesses has been the top priority for the UK Government since the White Paper was released in December 2018, with the first overseas consultation visit being to India in January this year.

Although India already receives 60 per cent of all work visas the UK issues – more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India, UKIBC said in a statement.

The Economic Times |

India, UK set up 3 new bilateral trade working groups

India and the UK have agreed to set up three new bilateral working groups to tackle barriers to trade in specific sectors of food and drink, healthcare and data services as part of the Joint Economic and Trade Committee (JETCO) meeting in London on Monday.

The three new business-led working groups will be run by the UK India Business Council (UKIBC) alongside the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI).

"What makes JETCO so important is that it is more than just a government to government bilateral, there is the direct involvement of business," UKIBC Chief Operation Officer (COO) Kevin McCole told PTI in an interview.

"Today saw the launch of three new bilateral business-led working groups to take deep dive into the issues, from a business perspective, and make recommendations to ministers on how to unlock remaining barriers to trade in food and drink, life sciences and healthcare, and digital and data services," he said.

The purpose of JETCO is to identify, and find solutions to, non-tariff barriers to trade.

"The Joint Trade Review, launched in November 2016, has made good progress – bilateral trade grew 22 per cent in 2018, against the average of 8.8 per cent per annum since 2002," McCole said.

The latest JETCO meeting, which included bilateral trade talks between India's commerce and industry minister Piyush Goyal and UK secretary of state for international trade Liam Fox, is the 13th such meeting to take place between the two countries.

The UKIBC, a membership-based non-profit body set up to promote the UK-India economic partnership, plays the role of a Secretariat for the JETCO talks and provides a forum for UK companies to enhance their links and develop new partnerships with Indian businesses.

"The UKIBC organised what was a fascinating and open meeting for minister Goyal to meet major UK businesses that have invested significantly in India. There was positivity about the Indian economy and a sense of shared ambition that India should be a global economic superpower within the next decade. There was also recognition that reform was needed to achieve this, and a range of ideas were put forward," McCole said.

The UKIBC said in reference to the meeting that UK businesses felt encouraged that the Indian government is committed to serious higher education reform focusing on delivering world-class graduates.

UK businesses also expressed their support for transforming India's immense data cache into AI solutions, which will revolutionise sectors as diverse as healthcare, education, and agriculture.

"Certainty on a sector-agnostic, intuitive, and transparent data protection framework enforced by an independent and tech-savvy Data Protection Authority will maximise trust and lay the ground-work for a UK-India Common Data Agreement," McCole explained.

In healthcare, the UKIBC feels that the success of Ayushman Bharat will rapidly increase demand for pharmaceuticals.

In order to augment supply, India stands to benefit from building on international best practice to design a new drug pricing framework that enhances pharmaceutical quality, availability, and affordability for Indian citizens.

"Taking Ease of Doing Business reforms down to the State and District levels will be a major part of transforming the day-to-day manufacturing environment, especially for SMEs. Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates, and reforming the defense offset rules would signal India's national determination to be a global, high-value, manufacturing hub," McCole said.

In reference to the prospects of a post-Brexit free trade agreement (FTA) between India and the UK, the UKIBC believes that such an agreement will come in time, but there is a great deal that can be done to address the barriers to trade and investment, including any sticking points around ease of movement for students and professionals.

McCole said: "It is often said that India will require more access to UK work visas as part of a trade deal. An important part of today's JETCO was a meeting between Indian businesses and the Home Office officials leading the consultation on the UK's Skills-Based Immigration White Paper.

"Although India already receives 60 per cent or all work visas the UK issues – more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India."

According to some latest official statistics, between 2000 and 2018, investments directly from the UK amounted to USD 26.09 billion, representing 7 per cent of total FDI into India, ahead of the US and Germany at 6 per cent and 3 per cent respectively.

The UK also prides itself at consistently being one of the top five investing countries in India over the last 18 years and is the fourth largest investor in India, having invested USD 26.09 billion after Mauritius, Singapore and Japan from April 2000 to June 2018.

"The UK and India have an incredibly close relationship…Nevertheless, from this position of strength, there is certainly more to be done to grow bilateral trade, investment and partnerships," McCole said.

Against the backdrop of the latest JETCO talks, the UKIBC has highlighted the scope to expand tech and innovation collaborations between the two countries.

It believes that more UK manufacturers could explore India, with the Indian government's Access India Programme working on helping small and medium enterprise (SME) manufacturers from the UK to the 'Make in India' initiative.

The Times of India |

India, UK set up 3 new bilateral trade working groups

India and the UK have agreed to set up three new bilateral working groups to tackle barriers to trade in specific sectors of food and drink, healthcare and data services as part of the Joint Economic and Trade Committee (JETCO) meeting in London on Monday.

The three new business-led working groups will be run by the UK India Business Council (UKIBC) alongside the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI).

"What makes JETCO so important is that it is more than just a government to government bilateral, there is the direct involvement of business," UKIBC chief operation officer (COO) Kevin McCole told PTI in an interview.

"Today saw the launch of three new bilateral business-led working groups to take deep dive into the issues, from a business perspective, and make recommendations to ministers on how to unlock remaining barriers to trade in food and drink, life sciences and healthcare, and digital and data services," he said.

The purpose of JETCO is to identify, and find solutions to, non-tariff barriers to trade.

"The Joint Trade Review, launched in November 2016, has made good progress – bilateral trade grew 22 per cent in 2018, against the average of 8.8 per cent per annum since 2002," McCole said.

The latest JETCO meeting, which included bilateral trade talks between India's commerce and industry minister Piyush Goyal and UK secretary of state for international trade Liam Fox, is the 13th such meeting to take place between the two countries.

The UKIBC, a membership-based non-profit body set up to promote the UK-India economic partnership, plays the role of a secretariat for the JETCO talks and provides a forum for UK companies to enhance their links and develop new partnerships with Indian businesses.

"The UKIBC organised what was a fascinating and open meeting for minister Goyal to meet major UK businesses that have invested significantly in India. There was positivity about the Indian economy and a sense of shared ambition that India should be a global economic superpower within the next decade. There was also recognition that reform was needed to achieve this, and a range of ideas were put forward," McCole said.

The UKIBC said in reference to the meeting that UK businesses felt encouraged that the Indian government is committed to serious higher education reform focusing on delivering world-class graduates.

UK businesses also expressed their support for transforming India's immense data cache into AI solutions, which will revolutionise sectors as diverse as healthcare, education, and agriculture.

"Certainty on a sector-agnostic, intuitive, and transparent data protection framework enforced by an independent and tech-savvy Data Protection Authority will maximise trust and lay the ground-work for a UK-India Common Data Agreement," McCole explained.

In healthcare, the UKIBC feels that the success of Ayushman Bharat will rapidly increase demand for pharmaceuticals.

In order to augment supply, India stands to benefit from building on international best practice to design a new drug pricing framework that enhances pharmaceutical quality, availability, and affordability for Indian citizens.

"Taking Ease of Doing Business reforms down to the State and District levels will be a major part of transforming the day-to-day manufacturing environment, especially for SMEs. Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates, and reforming the defense offset rules would signal India's national determination to be a global, high-value, manufacturing hub," McCole said.

In reference to the prospects of a post-Brexit free trade agreement (FTA) between India and the UK, the UKIBC believes that such an agreement will come in time, but there is a great deal that can be done to address the barriers to trade and investment, including any sticking points around ease of movement for students and professionals.

McCole said: "It is often said that India will require more access to UK work visas as part of a trade deal. An important part of today's JETCO was a meeting between Indian businesses and the Home Office officials leading the consultation on the UK's Skills-Based Immigration White Paper.

"Although India already receives 60 per cent or all work visas the UK issues – more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India."

According to some latest official statistics, between 2000 and 2018, investments directly from the UK amounted to $26.09 billion, representing 7 per cent of total FDI into India, ahead of the US and Germany at 6 per cent and 3 per cent respectively.

The UK also prides itself at consistently being one of the top five investing countries in India over the last 18 years and is the fourth largest investor in India, having invested $26.09 billion after Mauritius, Singapore and Japan from April 2000 to June 2018.

"The UK and India have an incredibly close relationship…Nevertheless, from this position of strength, there is certainly more to be done to grow bilateral trade, investment and partnerships," McCole said.

Against the backdrop of the latest JETCO talks, the UKIBC has highlighted the scope to expand tech and innovation collaborations between the two countries.

It believes that more UK manufacturers could explore India, with the Indian government's Access India Programme working on helping small and medium enterprise (SME) manufacturers from the UK to the 'Make in India' initiative.

News18 |

India, UK set up 3 new bilateral trade working groups to tackle barriers in specific sectors

India and the UK have agreed to set up three new bilateral working groups to tackle barriers to trade in specific sectors of food and drink, healthcare and data services as part of the Joint Economic and Trade Committee (JETCO) meeting in London on Monday.

The three new business-led working groups will be run by the UK India Business Council (UKIBC) alongside the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI).

"What makes JETCO so important is that it is more than just a government to government bilateral, there is the direct involvement of business," UKIBC Chief Operation Officer (COO) Kevin McCole told PTI in an interview.

"Today saw the launch of three new bilateral business-led working groups to take deep dive into the issues, from a business perspective, and make recommendations to ministers on how to unlock remaining barriers to trade in food and drink, life sciences and healthcare, and digital and data services," he said.

The purpose of JETCO is to identify, and find solutions to, non-tariff barriers to trade.

"The Joint Trade Review, launched in November 2016, has made good progress bilateral trade grew 22 per cent in 2018, against the average of 8.8 per cent per annum since 2002," McCole said.

The latest JETCO meeting, which included bilateral trade talks between India's commerce and industry minister Piyush Goyal and UK secretary of state for international trade Liam Fox, is the 13th such meeting to take place between the two countries.

The UKIBC, a membership-based non-profit body set up to promote the UK-India economic partnership, plays the role of a Secretariat for the JETCO talks and provides a forum for UK companies to enhance their links and develop new partnerships with Indian businesses.

"The UKIBC organised what was a fascinating and open meeting for minister Goyal to meet major UK businesses that have invested significantly in India. There was positivity about the Indian economy and a sense of shared ambition that India should be a global economic superpower within the next decade. There was also recognition that reform was needed to achieve this, and a range of ideas were put forward," McCole said.

The UKIBC said in reference to the meeting that UK businesses felt encouraged that the Indian government is committed to serious higher education reform focusing on delivering world-class graduates.

UK businesses also expressed their support for transforming India's immense data cache into AI solutions, which will revolutionise sectors as diverse as healthcare, education, and agriculture.

"Certainty on a sector-agnostic, intuitive, and transparent data protection framework enforced by an independent and tech-savvy Data Protection Authority will maximise trust and lay the ground-work for a UK-India Common Data Agreement," McCole explained.

In healthcare, the UKIBC feels that the success of Ayushman Bharat will rapidly increase demand for pharmaceuticals.

In order to augment supply, India stands to benefit from building on international best practice to design a new drug pricing framework that enhances pharmaceutical quality, availability, and affordability for Indian citizens.

"Taking Ease of Doing Business reforms down to the State and District levels will be a major part of transforming the day-to-day manufacturing environment, especially for SMEs. Likewise, strengthening IP enforcement, streamlining customs approvals, delivering globally competitive taxation rates, and reforming the defense offset rules would signal India's national determination to be a global, high-value, manufacturing hub," McCole said.

In reference to the prospects of a post-Brexit free trade agreement (FTA) between India and the UK, the UKIBC believes that such an agreement will come in time, but there is a great deal that can be done to address the barriers to trade and investment, including any sticking points around ease of movement for students and professionals.

McCole said: "It is often said that India will require more access to UK work visas as part of a trade deal. An important part of today's JETCO was a meeting between Indian businesses and the Home Office officials leading the consultation on the UK's Skills-Based Immigration White Paper.

"Although India already receives 60 per cent or all work visas the UK issues more than the rest of the world combined, the UK is determined to engage seriously and deeply with Indian business to make sure the future legislation is right and that it is well-understood in India."

According to some latest official statistics, between 2000 and 2018, investments directly from the UK amounted to USD 26.09 billion, representing 7 per cent of total FDI into India, ahead of the US and Germany at 6 per cent and 3 per cent respectively.

The UK also prides itself at consistently being one of the top five investing countries in India over the last 18 years and is the fourth largest investor in India, having invested USD 26.09 billion after Mauritius, Singapore and Japan from April 2000 to June 2018.

"The UK and India have an incredibly close relationshipNevertheless, from this position of strength, there is certainly more to be done to grow bilateral trade, investment and partnerships," McCole said.

Against the backdrop of the latest JETCO talks, the UKIBC has highlighted the scope to expand tech and innovation collaborations between the two countries.

It believes that more UK manufacturers could explore India, with the Indian government's Access India Programme working on helping small and medium enterprise (SME) manufacturers from the UK to the 'Make in India' initiative.

The Times of India |

US-China trade truce will help India: Experts

The US-China move to revive trade talks and Washington’s promise to put on hold any new tariffs on exports from Beijing for now augurs well for the global economy and India and lifts the air of uncertainty engulfing financial markets, experts said.

United States and China agreed to revive trade talks as President Donald Trump said he would hold off on new tariffs on Chinese exports. The agreement between the countries at the G20 summit in Osaka marks a temporary pause in the hostile trade ties between two of the world’s largest economies. The rising trade tensions between US and China had hurt market sentiments across the globe and raised prospects of a sharp slowdown in global growth and trade.

“There are two aspects to the deal. If the hostility had persisted for some time, India could have benefited due to deflection of some trade due to the tension between US-China,” said Biswajit Dhar, professor at Jawaharlal Nehru University.

“This is very positive but has to be followed by a concrete deal to ensure that such tensions do not recur in a few months. The deal will help in bringing back positive sentiment in global trade and investment, “ said Manab Mazumdar, deputy secretary general at industry lobby group FICCI.

“End of hostilities is good for the global economy and will help bring in some stability which could also benefit India,” he said. On the issue of India-US trade ties, Dhar there were “too many issues” which a trade agreement may not be able to deal with. India has several red lines as the US has raised issues on data localisation, IPR, he added. The US has promised to work with India to resolve the outstanding issues and Trump has vowed to unveil a “very big trade deal” with India.

The stock market is expected to react positively to the deal when it opens on Monday.

“It’s a very positive development for global markets. One should see a positive opening starting from Japan when trading resumes on Monday. In specific to India, while there has been no budget rally so far, the possibility of that beginning now with just four days to go, looks certain,” said Arun Kejriwal, director at KRIS, a Mumbai-based investment advisory firm.

The intense trade tensions between two of the world’s largest economies had prompted experts to say that India could benefit from the spat as companies planning to exit China could set up base in India. Expert had said it provides an opportunity for India to create exports hubs which in turn could create jobs.

The Osaka G20 summit also had several gains for India. Prime Minister Narendra Modi raised the issue of dealing with fugitive economic offenders among other crucial points.

“We strongly put forward the need to deal with fugitive economic offenders. It has been a strong agenda, we have been working on tax evasion, corruption, economic offences and fugitive offenders running away (from the country). We have also been very strongly championing this,” Suresh Prabhu, India’s sherpa for the G20 told reporters in Osaka.

The G20 communique also vowed to continue practical cooperation to fight corruption and reaffirm their commitment to deny safe haven to persons sought for corruption and their proceeds of corruption consistent with G20 and international commitments and domestic legal systems and promised to work more closely on asset recovery cooperation.

“We look forward to the scoping paper on international cooperation dealing with serious economic offenders and recovery of stolen assets in relation to corruption to be prepared by relevant international organisations. In addition, we also welcome the work on the linkages between corruption and gender being undertaken by relevant international organisations,” the G20 leaders’ declaration said.

For the past few years, India has been consistently driving home the point about the dangers of fugitive economic offenders as some countries had resisted attempts to include it in the communique in the previous summit.

The Hitavada |

Pre-mature for India to attempt rule-making in e-commerce: FICCI

FICCI recently said it may be “pre-mature” for India to attempt rule-making in e-commerce and the country must be extremely cautious in its approach as there is less clarity on the impact of such issues, in the backdrop of the WTO mini-ministerial here.

Developed countries like the US want WTO members to start discussing new issues like e-commerce. However, India is of the view that formal discussions should begin only after consensus is built on them. “As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation, and many other such factors before discussing binding trade rules ,” FICCI said.

In view of the sharp ‘digital divide’, binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD, FICCI said. In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rule-making in e-commerce and thus India needs to be extremely cautious in our approach, it said.

In a letter to the Ministry of Commerce and Industry, it pitched for continuation of the Special and Differential Treatment (S&DT) at WTO for all developing and least developed members.

"To cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," the FICCI President said.

The S&DT allows developing countries to enjoy certain benefits including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

FICCI also urged the government to utilise the ongoing mini-ministerial platform for creating alliances and consolidating support among member-nations to revitalise the multilateral trading system.

The industry body's President Sandip Somany said it will help in effectively countering attempts by some countries to dilute the importance of multi-lateralism and weaken the WTO. He highlighted the immediate need to resolve the impasse in Appellate Body appointments.

"WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate Body gets paralysed, it will seriously damage credibility of WTO," he noted.

Senior officials from 22 member countries of the World Trade Organisation (WTO) are taking part in a mini-ministerial meet here.

The two-day meeting provides an opportunity to the participating countries to develop a shared WTO reform proposal on issues of priority and interest for developing countries.

The meeting is being attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Argentina, Bangladesh, Malaysia, and Nigeria, according to a commerce ministry statement. The Director General of the WTO, Roberto Azevedo is also participating.

SME Times |

Industry urges govt to utilise mini-ministerial WTO platform

Industry body FICCI has urged the Government to use the mini-ministerial platform for creating alliances and consolidating support among member-countries to revitalize the multilateral trading system.

"It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the WTO," said Sandip Somany, President, FICCI.

Complimenting the initiative of convening the mini-ministerial meeting, Mr. Somany observed, "We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution".

In a letter sent to the Ministry of Commerce & Industry, FICCI said that it would like the Special and Differential Treatment (S&DT) to continue at WTO for all developing and least developed members, because S&DT provisions are an integral part of multilateral trade rules.

In view of the wide diversity in the level of development among WTO membership, there is need for sufficient flexibilities, it added.

"Just to cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," Somany pointed out.

Alluding to the issue of WTO reform Somany said, "Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st Century".

"Reform or modernization of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he added.

The practice of decision-making by Consensus should continue in WTO. While it may be useful to bring in select 'New Issues' in the agenda, it should not be done by replacing all the old issues (many of the old issues are long-standing and critical for developing countries), he added.

The Economic Times |

Use mini-ministerial to create support for revitalising WTO, FICCI tells government

Industry association FICCI has asked the government to use the opportunity of the Word trade Organisation's mini ministerial in New Delhi to strengthen multilateral trade ties and end the deadlock in appointments to the appellate body for dispute settlement.

The appellate body for the resolution of trade disputes will no longer have the required quorum of 3 members on December 10 unless new members are appointed.

India is hosting 22 members of the WTO in New Delhi for a meetings on key issues of international trade.

“It (strengthening of multilateral trade ties) will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the WTO,” said Sandip Somany, President - FICCI adding that the WTO as an organisation had been under severs stress amid rising trade tensions.

Somany also said that “WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate body gets paralyzed, it will seriously damage credibility of WTO.

The industry body has also written to the commerce ministry urging it to advocate for the continuation of the "Special and Differential Treatment (S&DT)" for all least developed and developing countries. S&DT allow for special provisions to underdeveloped and developing countries including longer time periods for implementation of agreements and special measures to increase trading opportunities for these countries.

"Just to cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India” said Somany.

The Economic Times |

Pre-mature for India to attempt rule-making in e-commerce: FICCI

FICCI Monday said it may be "pre-mature" for India to attempt rule-making in e-commerce and the country must be extremely cautious in its approach as there is less clarity on the impact of such issues, in the backdrop of the WTO mini-ministerial here. Developed countries like the US want WTO members to start discussing new issues like e-commerce. However, India is of the view that formal discussions should begin only after consensus is built on them.

"As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation, and many other such factors before discussing binding trade rules in this area," FICCI said in a statement.

In view of the sharp 'digital divide' (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD, FICCI said.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rule-making in e-commerce and thus India needs to be extremely cautious in our approach in this area, FICCI said.

In a letter to the Ministry of Commerce and Industry, it pitched for continuation of the Special and Differential Treatment (S&DT) at WTO for all developing and least developed members.

"To cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," the FICCI President said.

The S&DT allows developing countries to enjoy certain benefits including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

FICCI also urged the government to utilise the ongoing mini-ministerial platform for creating alliances and consolidating support among member-nations to revitalise the multilateral trading system.

The industry body's President Sandip Somany said it will help in effectively countering attempts by some countries to dilute the importance of multi-lateralism and weaken the WTO.

He highlighted the immediate need to resolve the impasse in Appellate Body appointments.

"WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate Body gets paralysed, it will seriously damage credibility of WTO," he noted.

Senior officials from 22 member countries of the World Trade Organisation (WTO) are taking part in a mini-ministerial meet here.

The two-day meeting provides an opportunity to the participating countries to develop a shared WTO reform proposal on issues of priority and interest for developing countries.

The meeting is being attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Argentina, Bangladesh, Malaysia, and Nigeria, according to a commerce ministry statement. The Director General of the WTO, Roberto Azevedo is also participating.

Business Standard |

FICCI urges govt to use Mini-Ministerial platform to create support for revitalising WTO

Industry body FICCI has urged the Indian Government to use the mini-ministerial platform for creating alliances and consolidating support among member-countries to revitalize the multilateral trading system. "It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the WTO," said Mr. Sandip Somany, President, FICCI. Complimenting the initiative of convening the mini-ministerial meeting, Mr. Somany observed, "We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution".

In a letter sent to the Ministry of Commerce & Industry, the apex chamber said that it would like the 'Special and Differential Treatment (S&DT) to continue at WTO for all developing and least developed members, because S&DT provisions are an integral part of multilateral trade rules. In view of the wide diversity in the level of development among WTO membership, there is need for sufficient flexibilities. "Just to cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty.

So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," FICCI President pointed out.

Alluding to the issue of WTO reform Mr. Somany said, "Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st Century". At the same time, it is essential to preserve the prime position of WTO in global trading system and it should be made stronger. "Reform or modernization of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," FICCI President remarked.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localization, and many other such factors before discussing binding trade rules in this area.

In view of the sharp 'digital divide' (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localization restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD (United Nations Conference on Trade and Development) and South Centre. In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, the apex chamber pointed out.

Business Standard |

Utilise mini-ministerial to create support for revitalising WTO: FICCI

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system.

"It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO)," said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

"We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution."

The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the 'special and differential treatment' (S & DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules.

Due to wide diversity in development levels among WTO members, there is need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crore are in extreme poverty. "So we just cannot wish away the continued need for S & DT provisions for developing economies like India," said Somany in the letter.

Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. "Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he said.

The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany.

He also pointed out the immediate need to resolve impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area.

In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

Business Standard |

Pre-mature for India to attempt rule-making in e-commerce:FICCI

FICCI Monday said it may be "pre-mature" for India to attempt rule-making in e-commerce and the country must be extremely cautious in its approach as there is less clarity on the impact of such issues, in the backdrop of the WTO mini-ministerial here.

Developed countries like the US want WTO members to start discussing new issues like e-commerce. However, India is of the view that formal discussions should begin only after consensus is built on them.

"As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation, and many other such factors before discussing binding trade rules in this area," FICCI said in a statement.

In view of the sharp 'digital divide' (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD, FICCI said.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rule-making in e-commerce and thus India needs to be extremely cautious in our approach in this area, FICCI said.

In a letter to the Ministry of Commerce and Industry, it pitched for continuation of the Special and Differential Treatment (S&DT) at WTO for all developing and least developed members.

"To cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," the FICCI President said.

The S&DT allows developing countries to enjoy certain benefits including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

FICCI also urged the government to utilise the ongoing mini-ministerial platform for creating alliances and consolidating support among member-nations to revitalise the multilateral trading system.

The industry body's President Sandip Somany said it will help in effectively countering attempts by some countries to dilute the importance of multi-lateralism and weaken the WTO.

He highlighted the immediate need to resolve the impasse in Appellate Body appointments.

"WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate Body gets paralysed, it will seriously damage credibility of WTO," he noted.

Senior officials from 22 member countries of the World Trade Organisation (WTO) are taking part in a mini-ministerial meet here.

The two-day meeting provides an opportunity to the participating countries to develop a shared WTO reform proposal on issues of priority and interest for developing countries.

The meeting is being attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Argentina, Bangladesh, Malaysia, and Nigeria, according to a commerce ministry statement. The Director General of the WTO, Roberto Azevedo is also participating.

The Times of India |

Pre-mature for India to attempt rule-making in e-commerce:FICCI

FICCI Monday said it may be "pre-mature" for India to attempt rule-making in e-commerce and the country must be extremely cautious in its approach as there is less clarity on the impact of such issues, in the backdrop of the WTO mini-ministerial here.

Developed countries like the US want WTO members to start discussing new issues like e-commerce. However, India is of the view that formal discussions should begin only after consensus is built on them.

"As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation, and many other such factors before discussing binding trade rules in this area," FICCI said in a statement.

In view of the sharp 'digital divide' (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD, FICCI said.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rule-making in e-commerce and thus India needs to be extremely cautious in our approach in this area, FICCI said.

In a letter to the Ministry of Commerce and Industry, it pitched for continuation of the Special and Differential Treatment (S&DT) at WTO for all developing and least developed members.

"To cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," the FICCI President said.

The S&DT allows developing countries to enjoy certain benefits including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

FICCI also urged the government to utilise the ongoing mini-ministerial platform for creating alliances and consolidating support among member-nations to revitalise the multilateral trading system.

The industry body's President Sandip Somany said it will help in effectively countering attempts by some countries to dilute the importance of multi-lateralism and weaken the WTO.

He highlighted the immediate need to resolve the impasse in Appellate Body appointments.

"WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate Body gets paralysed, it will seriously damage credibility of WTO," he noted.

Senior officials from 22 member countries of the World Trade Organisation (WTO) are taking part in a mini-ministerial meet here.

The two-day meeting provides an opportunity to the participating countries to develop a shared WTO reform proposal on issues of priority and interest for developing countries.

The meeting is being attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Argentina, Bangladesh, Malaysia, and Nigeria, according to a commerce ministry statement. The Director General of the WTO, Roberto Azevedo is also participating.

Yahoo News |

Utilise mini-ministerial to create support for revitalising WTO: FICCI

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system.

"It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO)," said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

"We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution."

The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the 'special and differential treatment' (S&DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules.

Due to wide diversity in development levels among WTO members, there is need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crore are in extreme poverty. "So we just cannot wish away the continued need for S&DT provisions for developing economies like India," said Somany in the letter.

Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. "Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he said.

The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany.

He also pointed out the immediate need to resolve impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area.

In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

Outlook |

Pre-mature for India to attempt rule-making in e-commerce: FICCI

FICCI Monday said it may be "pre-mature" for India to attempt rule-making in e-commerce and the country must be extremely cautious in its approach as there is less clarity on the impact of such issues, in the backdrop of the WTO mini-ministerial here.

Developed countries like the US want WTO members to start discussing new issues like e-commerce. However, India is of the view that formal discussions should begin only after consensus is built on them.

"As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation, and many other such factors before discussing binding trade rules in this area," FICCI said in a statement.

In view of the sharp 'digital divide' (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills, as articulated by UNCTAD, FICCI said.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rule-making in e-commerce and thus India needs to be extremely cautious in our approach in this area, FICCI said.

In a letter to the Ministry of Commerce and Industry, it pitched for continuation of the Special and Differential Treatment (S&DT) at WTO for all developing and least developed members.

"To cite one specific instance, India still has over 360 million poor and as of end-May 2018, it had 73 million people in extreme poverty. So, we just cannot wish away the continued need for S&DT provisions for developing economies like India," the FICCI President said.

The S&DT allows developing countries to enjoy certain benefits including taking longer time periods for implementing agreements and binding commitments, and measures to increase trading opportunities for them.

Currently, any WTO member can designate itself as a developing country and avail these benefits.

FICCI also urged the government to utilise the ongoing mini-ministerial platform for creating alliances and consolidating support among member-nations to revitalise the multilateral trading system.

The industry body's President Sandip Somany said it will help in effectively countering attempts by some countries to dilute the importance of multi-lateralism and weaken the WTO.

He highlighted the immediate need to resolve the impasse in Appellate Body appointments. "WTO reforms cannot ignore the ongoing problems regarding appointment of new members to the Appellate Body. If the Appellate Body gets paralysed, it will seriously damage credibility of WTO," he noted.

Senior officials from 22 member countries of the World Trade Organisation (WTO) are taking part in a mini-ministerial meet here.

The two-day meeting provides an opportunity to the participating countries to develop a shared WTO reform proposal on issues of priority and interest for developing countries.

The meeting is being attended by six least developed countries and 16 developing countries, including China, Brazil, Saudi Arabia, South Africa, Argentina, Bangladesh, Malaysia, and Nigeria, according to a commerce ministry statement. The Director General of the WTO, Roberto Azevedo is also participating.

newKerala.com |

Utilise mini-ministerial to create support for revitalising WTO: FICCI

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system.

"It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO)," said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

"We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution."

The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the 'special and differential treatment' (S and DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules.

Due to wide diversity in development levels among WTO members, there is need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crore are in extreme poverty. "So we just cannot wish away the continued need for S and DT provisions for developing economies like India," said Somany in the letter.

Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. "Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he said.

The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany.

He also pointed out the immediate need to resolve impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area.

In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

Devdiscourse |

FICCI urges govt to use WTO mini-ministerial platform for multilateral trading

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system. "It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO)," said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

"We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution." The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the 'special and differential treatment' (S&DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules. Due to the wide diversity in development levels among WTO members, there is a need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crores are in extreme poverty. "So we just cannot wish away the continued need for S&DT provisions for developing economies like India," said Somany in the letter. Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook to need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. "Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he said. The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany. He also pointed out the immediate need to resolve the impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area. In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be premature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

ANI |

Utilise mini-ministerial to create support for revitalising WTO: FICCI

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system.

"It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO)," said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

"We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution."

The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the 'special and differential treatment' (S&DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules.

Due to wide diversity in development levels among WTO members, there is need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crore are in extreme poverty. "So we just cannot wish away the continued need for S&DT provisions for developing economies like India," said Somany in the letter.

Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. "Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account," he said.

The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany.

He also pointed out the immediate need to resolve impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area.

In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

The Siasat Daily |

Utilise mini-ministerial to create support for revitalising WTO: FICCI

Industry body FICCI on Monday urged the government to use the WTO mini-ministerial platform for creating alliances and consolidating support among member countries to revitalise the multilateral trading system.

“It will help in effectively countering attempts by some countries to dilute the importance of multilateralism and weaken the World Trade Organisation (WTO),” said Sandip Somany, President of the Federation of Indian Chambers of Commerce and Industry (FICCI).

“We at FICCI feel this is a much-needed step as WTO has been under severe stress in recent times amid rising trade tensions and questions are raised over the relevance of the institution.”

The WTO mini-ministerial is being held in the national capital on Monday and Tuesday.

In a letter sent to the Ministry of Commerce and Industry, the chamber said that it would like the ‘special and differential treatment’ (S & DT) to continue at WTO for all developing and least developed members as its provisions are an integral part of multilateral trade rules.

Due to wide diversity in development levels among WTO members, there is need for sufficient flexibilities.

Just to cite one specific instance, India still has over 36 crore poor people, of which 7.3 crore are in extreme poverty. “So we just cannot wish away the continued need for S & DT provisions for developing economies like India,” said Somany in the letter.

Any dynamic institution needs to periodically undertake reforms. WTO disciplines and rulebook too need to be updated so that they stay relevant and are better-equipped to handle new and emerging trade issues of the 21st century, he said.

At the same time, it is essential to preserve the prime position of WTO in the global trading system and it should be made stronger. “Reform or modernisation of the WTO should be approached in a balanced manner involving all sections of the WTO-membership and taking their interests as well as concerns into account,” he said.

The practice of decision-making by consensus should continue. While it may be useful to bring in select new issues on the agenda, it should not be done by replacing all the old issues which are long-standing and critical for developing countries.

The reforms must not perpetuate or widen the asymmetries of existing agreements. In fact, the reforms should address the prevailing distortions, for example, in agriculture trade resulted from over-subsidisation by certain developed members, said Somany.

He also pointed out the immediate need to resolve impasse in appellate body appointments.

As regards the proposals favouring WTO talks on electronic commerce, it is necessary to first thoroughly appreciate the implications of fast-changing digital trade, free flow of data across borders, infrastructure localisation and many other such factors before discussing binding trade rules in this area.

In view of the sharp digital divide (in terms of digital infrastructure and access to advanced digital technologies), binding rules on cross-border data transfers and localisation restrictions may limit the ability of the developing countries to gain from building their national digital technological capacity and skills.

In the absence of clarity on the impact of such critical issues, it may be pre-mature to attempt rulemaking in e-commerce and thus we need to be extremely cautious in our approach in this area, said the FICCI president.

sify finance |

'Manufacturing sector's sentiment positive in Q4 FY19'

The overall sentiment in the manufacturing sector was positive during the January-March quarter of financial year 2018-19, a FICCI report said on Sunday.

Capacity utilisation in the manufacturing sector rose by 80 per cent during the fourth quarter (Q4), said the 'Quarterly Survey on Manufacturing'.

"Overall sentiment in the manufacturing sector remains positive as the proportion of respondents reporting higher output growth (around 54 per cent) during the January-March 2018-19 has remained same as compared to Q3 of 2018-19," it said.

On the hiring front in the sector, the report noted that the outlook for near future seemed to have marginally improved.

"While in Q4 of 2017-18, 70 per cent respondents mentioned that they were not likely to hire additional workforce, this percentage has come down to 62.5 per cent for Q4 of 2018-19. Going forward it is expected that hiring scenario will improve further. Around 37.5 per cent in Q4 of 2018-19 as compared to 30 per cent in Q4 of 2017-18 are looking at hiring more people now."

In the survey, the industry body assessed the sentiments of manufacturers Q4 2018-19 for twelve sectors including automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electricals, leather and footwear, metal and metal products, paper products, textiles, textile machinery and tyres.

Responses were drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over Rs 3.56 lakh crore, FICCI said.

In terms of order books, 44 per cent of the respondents in January-March 2019 are expecting higher number of orders against 43 per cent in October-December 2018-19.

The cost of production as a percentage of sales for manufacturers in the survey has risen for 72 per cent respondents against 62 per cent during the same period the previous fiscal, according to the report.

"This is primarily due to increased cost of raw materials, wages, power cost, rising crude oil prices, increase in finance cost and rupee depreciation," said the report.

On the outlook for investments, the report estimated "moderate" investment levels but said that it would improve marginally.

Business Standard |

India needs to actively encourage FDI in petrochemical sector rather than FTAs

India needs to actively encourage Foreign Direct Investment (FDI) in Petrochemical sector rather than Free Trade Agreements (FTAs) to utilize India's growing demand to create value within the country rather than outside, noted a latest update from FICCI. As India's demand is expected to steadily grow in the foreseeable future, it can be an engine for creating new employment opportunities in the country if foreign participation in India is through the FDI route rather than the trade route.

The organization noted it in a white Paper titled Impact of Free Trade Agreements on Indian Petrochemical Industry. Despite being an enabling industry, the petrochemical industry in India is subjected to certain structural disadvantages which inhibit its competitiveness. Factors like high cost of capital, lack of adequate infrastructure, place domestic petrochemical manufacturers at a significant disadvantage compared to their counterparts elsewhere.

In the past few years, India has concluded and operationalized FTAs with various countries. However, majority of the agreements concluded by India have not benefited the Indian chemicals and petrochemicals industry. The focus of these agreements had been reduction / elimination of tariff without adequate attention paid on other factors impacting trade. As a result, in most of the cases, Indian export to these countries had gained relatively less as compared to import thus widening the trade gap.

The threats from FTAs have a multi-dimensional adverse impact on the domestic petrochemical sector for items which are currently being imported. While demand-supply gaps exist for key petrochemicals in the country, domestic investors are skeptical of investing in India as these gaps are being fulfilled by trade partner nations. Tariff concessions on FTAs may jeopardize the financial viability of the new investments
made in petrochemical industry.

The paper further recommended constitution of a permanent FTA Regulatory Board headed by a senior government official. The board will be entrusted with the responsibility of reviewing existing FTAs taking into account the sectoral sensitivities and formulating the approach for FTAs under negotiation. The board necessarily needs to have representation from the industry to provide a holistic view.

Petrochemical industry is an "enabler" industry which is used in virtually all sectors of the economy including agriculture, infrastructure, healthcare, automobile, packaging with present capacities of more than 40 million MT, which is comparable to any major sector in the country. It contributed to nearly 2% to India's GDP in 2017. Considering the vital role played by the petrochemical industry in economic growth and development, it is proposed that petrochemical industry be designated as a "core industry" and accorded the importance it deserves.

India should carefully evaluate tariff rationalization of free trade agreement before getting into any proposed negotiation, as liberalizing trade against major exporters and established industries will enable partner nations to gain preferential access to the Indian market. Hence, FTAs should be signed keeping in mind, the preferential access of domestic industry to foreign markets and various products and services of high export potential.

Business Standard |

India becoming world's fastest growing economy

The share of the Indian economy in the world (measured as a ratio of India's GDP to world's GDP at current US$) has increased from 2.6 per cent in 2014 to 3.2 per cent in 2017 (as per World Development Indicators database).

This was stated by Minister of State for Finance Pon Radhakrishnan in a written reply to a question raised in Rajya Sabha on Tuesday.

The average share of the Indian economy in the world from 1960 to 2013 was 1.8 per cent. The average growth of the Indian economy during 2014-15 to 2017-18 was 7.3 per cent, fastest among the major economies in the world.

The Indian economy is projected to be the fastest growing major economy in 2018-19 and 2019-20 (International Monetary Fund October 2018 database). This is borne by the GDP growth of 7.6 per cent in the first half of 2018-19.

As per the estimates available from Central Statistics Office(CSO), the per capita income (measured as per capita net national income (at current prices))of the country increased from Rs. 86,647/- in 2014-15 to Rs 112,835/- in 2017-18, recording a 30.2 percent growth from 2014-15 to 2017-18.

Meanwhile, Union Minister Suresh Prabhu while addressing the India-Turkey business forum organised by FICCI on Tuesday said that in coming years India will be five trillion dollar economy.

He said, "India will be 5 trillion dollar economy in 7-8 years and already we have complete road-map for it. On Monday, we launched a major program for making one trillion dollars of manufacturing in India that will happen in the next 6-7 years; the comprehensive plan has been prepared.

Yahoo News |

India will be 5 trillion dollar economy in coming 7-8 years: Suresh Prabhu

While speaking at India-Turkey Business forum 2018 which was organised by Federation of Indian Chambers of Commerce and Industry (FICCI), Union Minister of Commerce and Industry Suresh Prabhu said, "I am happy to say that India will be 5 trillion dollar economy in coming 7-8 years and already we have complete road-map for it. Yesterday, we launched major program for making 1 trillion dollar of manufacturing in India that will happen in next 6-7 years; comprehensive plan has been prepared."

The Statesman |

Trade irritants with Turkey to be resolved soon: Suresh Prabhu

Irritants in India’s trade with Turkey will soon be removed, and efforts are being made to address the issue of Turkey’s trade deficit with India, Commerce Minister Suresh Prabhu said on Tuesday.

Addressing the India-Turkey Business Forum here organised by industry chamber FICCI, Prabhu said as part of improving trade relations with Turkey, the Indian Finance Ministry was also looking at a proposal from that country on allowing bilateral trade to be carried out in local currency.

“We have discussed all issues and we will resolve those so as to promote trade and investments between the two countries,” Prabhu said following a meeting here with visiting Turkish Trade Minister Ruhsar Pekcan.

“A proposal to trade in local currencies is now being discussed in the Finance Ministry and we are hopeful that this would be dealt with soon,” he said.

On the issue of their trade deficit with India raised by Turkey, Prabhu said that bilateral business relations would have to be made sustainable.

“We cannot just export, we have to import from Turkey too,” he said.

Prabhu said discussions with his Turkish counterpart revolved around issues such as setting up of banking facilities in both countries, tapping of construction opportunities in India, and increasing Turkish commodity exports to India of products like boric acid and poppy seeds.

Earlier this year, the Indian Cabinet approved an agreement between both countries to ensure quick and transparent processing of poppy seed imports from Turkey.

Prabhu also said he is slated to visit Turkey as the head of a business delegation in February 2019.

Speaking on the occasion, Pekcan noted the bilateral trade volume last year was $7 billion and going by the data of the first 11 months, the figure is all set to reach $8 billion mark next year.

“Turkey would like the figures to be much higher along with balanced trade,” she said.

The Turkish Minister expressed hope that issues such as non-acceptance of Turkey’s letters of credit and the absence of a correspondent bank in India would be resolved before Prabhu’s forthcoming visit to Turkey.

Turkey continues to remain excluded from India’s liberalised visa regime, with e-visa facilities having already been granted to over 160 countries.

5 Dariya News |

India - Turkey trade should be balanced and sustainable : Suresh Prabhu

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, said that India will address all the concerns of Turkey, from agri products, banking issues, trade deficit and greater investments. The Commerce Minister said this during the bilateral meeting held with the Minister of Trade of Turkey, Ms. Rushar Pekcan, in New Delhi today.During the bilateral meeting Suresh Prabhu said that he will lead a high level business delegation to Turkey in February next year and will work with his Turkish counterparts to make sure that all the issues being raised in the bilateral meeting by the Turkish side are addressed. The Commerce Minister requested the Minister of Trade of Turkey to organize the next India – Turkey Joint Committee for Economic and Technical Cooperation meeting as early as possible so that regular discussions on issues of concern between the two countries can be dealt with. Suresh Prabhu further said that India is excited to have a Comprehensive Trade Agreement with Turkey as early as possible.

The Draft Joint Study Group(JSG) report, discussed by both countries in August 2018, needs to be finalized soon so that negotiations may begin. India has submitted its chapter to JSG and Suresh Prabhu requested Turkey to make their submission as early as possible.The Commerce Minister also informed the Turkish Minister that the proposal received from Turkey to deal in local currency is under consideration of the Finance Ministry of India. Suresh Prabhu informed the Turkish side that the Indian aviation sector is growing at 20%, which is the fastest growth seen in the aviation sector in the world. Hundred new airports will be constructed in the next ten years with an investment of 65-billion-dollar. He requested the world class Turkish construction companies to participate in the business of the growing aviation sector in India.Later Commerce Minister also addressed India – Turkey business forum in New Delhi where he said that India is committed to make bilateral trade balanced and sustainable for both countries.

Turkey is an important trade and business partner and both countries can benefit from each other.India-Turkey bilateral trade has increased significantly in the last one and a half decade. The major Indian exports to Turkey include medium oils and fuels, man-made filaments and staple fibres, automotive spare parts and accessories and organic chemicals. Turkey’s exports to India are poppy seeds, machinery and mechanical appliances, iron and steel articles, inorganic chemicals, pearls and precious stones and metals and marble.In 2017-18 bilateral trade was to the tune of USD 7.2 billion. Turkey’s imports from India during 2017-18 amounted to USD 5 billion and Turkey’s exports to India during the same period were USD 2.2 billion. FDI inflow from Turkey from 2000 to 2018 stood at USD 182.18 million in areas like construction, glass and machineries whereas outward investment by India into Turkey between 1998 to 2017 has been USD 121.36 million.

Devdiscourse |

Commerce Minister Suresh Prabhu: Will make efforts to improve trade relations with Turkey

Irritants in India's trade with Turkey will soon be removed, and efforts are being made to address the issue of Turkey's trade deficit with India, Commerce Minister Suresh Prabhu said on Tuesday.

Addressing the India-Turkey Business Forum here organized by industry chamber FICCI, Prabhu said as part of improving trade relations with Turkey, the Indian Finance Ministry was also looking at a proposal from that country on allowing bilateral trade to be carried out in local currency. "We have discussed all issues and we will resolve those so as to promote trade and investments between the two countries," Prabhu said following a meeting here with visiting Turkish Trade Minister Ruhsar Pekcan.

"A proposal to trade in local currencies is now being discussed in the Finance Ministry and we are hopeful that this would be dealt with soon," he said. On the issue of their trade deficit with India raised by Turkey, Prabhu said that bilateral business relations would have to be made sustainable. "We cannot just export, we have to import from Turkey too," he said.

Prabhu said discussions with his Turkish counterpart revolved around issues such as setting up of banking facilities in both countries, tapping of construction opportunities in India, and increasing Turkish commodity exports to India of products like boric acid and poppy seeds. Earlier this year, the Indian Cabinet approved an agreement between both countries to ensure quick and transparent processing of poppy seed imports from Turkey.

Prabhu also said he is slated to visit Turkey as the head of a business delegation in February 2019. Speaking on the occasion, Pekcan noted the bilateral trade volume last year was $7 billion and going by the data of the first 11 months, the figure is all set to reach $8 billion marks next year.

"Turkey would like the figures to be much higher along with balanced trade," she said. The Turkish Minister expressed hope that issues such as non-acceptance of Turkey's letters of credit and the absence of a correspondent bank in India would be resolved before Prabhu's forthcoming visit to Turkey. Turkey continues to remain excluded from India's liberalized visa regime, with e-visa facilities having already been granted to over 160 countries.

Alanya |

Minister announces! Delightful development

Trade Minister Ruhsar Pekcan , came to make various contacts in the capital of India, New Delhi , India Trade and Industry and Civil Aviation Minister Suresh Prabhu and Minister of Agriculture and Farmers Welfare Minister Radha Mohan Singh met.

Pekcan, Foreign Economic Relations Board ( DEIK ) and the Federation of Chambers of Commerce and Industry of India (FICCI) organized by the Turkey-India Business Forum, also attended.

Prabhu and DEIK Nail Olpak's Pekcan Speaking at the forum, where also present at the Turkey-India relations to reach the present level business people and investors of the two countries said that there is a great contribution.

Pekcan, result in job interviews will be held will further strengthen the trade and economic ties between Turkey and India and expressed will gain new dimensions.

Bilateral trade relations have recently Pekcan indicating an upward trend that capture is gratifying, Turkey and India in 2002, the bilateral trade volume of $ 637 million increased by about 11 times at the end of last year had reached $ 7 billion.

Pekcan, while this year the 11-month period, the trade volume between Turkey and India, noting that reached $ 8 billion, "The volume of India with its exports higher Turkey. We must work together to establish a trading relationship more balanced and sustainable." he said.

Minister Prabhu with Mentioning Pekcan the talks, the Turkish companies that transfer the problems faced by the Indian market, for the solution of Prabhu's the problem in a comprehensive delegation in February to the banking sector from agriculture said that he would visit Turkey.

Pekcan, the mutual encouragement and protection of investments for the re-update of the delegations to discuss the said, said:

"We talked to the trade issues with local money.'Re doing business with local currency in India with several countries, can work with pleasure with Turkey were transferred. Minister Prabhu, purchasing delegation arrangement also suggested." We recipient firms bring in, you bring exporter firms, result-oriented Let's try. ' he said. Visa convenience, our bilateral trade and tourism relations with our increase in the number of flights between India and Turkey will increase. "

"Increasing the number of technical consultancy companies in India is important"
Pekcan pointed out that Turkish contracting and technical consultancy companies have successfully completed important projects in the world and stated that half of 19 projects totaling more than 1.1 billion dollars have been undertaken in the last 3 years.

Pekcan, Turkish technical consultancy companies in India recently began to work actively, he said, pleasing the Turkish technical advisors in this country 10.9 million dollars in total 10 projects undertaken by the country said.

India's 12th 5-Year Development Plan and the aim of the modernization of 500 cities in 5 years, "100 Smart City" and airport projects within the scope of the Turkish contractors will achieve success by undertaking important roles emphasizing Pekcan, "It should be evaluated well. It is important to increase the number. " used.

"Indian companies should see Turkey as a production base"

one of the most important cooperation areas between the two countries mutual investments pointed out that Pekcan, Turkey's developed and qualified labor force, stable and orderly investment environment, enhanced investment incentive system,

The European Union, Turkey's (EU) of high quality production and service standards that are known by everyone and appreciated by emphasizing that Pekcan, said:

"Turkey, for companies that want to provide access to new markets has become a production base offering goods and services at EU standards. Indian companies are also Turkey should be seen as a production base in accessing the European market. we think it is a perfect opportunity for this. "

Improve the investment infrastructure in Turkey and the necessary arrangements to make it attractive to invest in the country Pekcan stating that they continue to implement the project on investment will provide the technological transformation with specially qualified project-based support said they designed the system. Pekcan, stating they organized an activity for Turkish companies wishing to invest in this country with India firms in February, where he would be transferred to Indian firms to investment opportunities in Turkey.

"We can cooperate in specialized free zones"

Minister Pekcan met with top executives of leading companies of the country and representatives of IT companies as part of his contacts in India. During the talks, the investment environment in Turkey and providing information on the incentives Pekcan, said companies were invited to invest in Turkey. Pekcan, the cooperation between the two countries pointed out the possibilities of cooperation. Pekcan information about which areas of the company's investment plans in Turkey, as Turkey software, focusing on specialized artificial 21st century technology, such as intelligence, recalled will establish free zones. Pekcan, "We know that India is the world leader in the software field. Turkey also present a huge potential in this area. We can go to a special expertise will establish strong cooperation in the free zone." said.

Pekcan met with the managers of Turkish companies who invested in India and exchanged views.

United News of India |

Irritants in trade with Turkey to be removed soon : Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu on Tuesday said that India was striving hard to resolve all pending issues relating to trade with Turkey before his planned visit to the country along with a business delegation in February 2019.

'Several issues that were hindering the augmentation of trade between the two countries had come up for discussions with the visiting Turkish Minister for Trade, Ms Ruhsar Pekcan.

'These included setting up of banking facilities in both countries and the tapping of construction opportunities in India and issues relating to increasing commodity products like boric acid and poppy seeds exports from Turkey to India,' Mr Prabhu said addressing the 'India-Turkey Business Forum', jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and DEiK (Foreign Economic Relations Board) of Turkey.

He said that bilateral trade relations would have to be made sustainable. "We cannot just export, we have to import from Turkey too," he added.

Mr Prabhu said the proposal to trade in local currencies was now with the Finance Ministry and he was hopeful that this would be dealt with soon.

Ms Pekcan expressed the hope that a Free Trade Agreement (FTA) between the two countries could be finalised soon to ensure sustainability in trade relations.

Discussions were on, she said and added that Turkey would explore all opportunities to have an FTA in place.

She said that the bilateral trade volume was USD 7 billion in 2017 and going by the trade figures of first 11 months, the trade was all set to reach USD 8 billion mark in the coming financial year. Turkey would like the figures to be much higher along with balanced trade, she added.

Ms Pekcan was optimistic that issues such as non-acceptance of Turkey's letters of credit and the absence of a correspondent bank in India would be resolved before the forthcoming visit to Turkey of Mr Prabhu.

FICCI president Sandip Somany said that FICCI would work closely with the governments of both countries to remove the hurdles in the way of two-way trade. He suggested the setting up of Indian industrial parks in Turkey for export-led industries seeking to access the European markets.

Mr Somany added that Indian and Turkish companies were vying for the same contracts, particularly in Africa. "There is a need for cooperation rather than competition", he said, according to an official statement here.

The Pioneer |

Trade irritants with Turkey to be resolved soon: Prabhu

Irritants in India's trade with Turkey will soon be removed, and efforts are being made to address the issue of Turkey's trade deficit with India, Commerce Minister Suresh Prabhu said on Tuesday.

Addressing the India-Turkey Business Forum here organised by industry chamber FICCI, Prabhu said as part of improving trade relations with Turkey, the Indian Finance Ministry was also looking at a proposal from that country on allowing bilateral trade to be carried out in local currency.

"We have discussed all issues and we will resolve those so as to promote trade and investments between the two countries," Prabhu said following a meeting here with visiting Turkish Trade Minister Ruhsar Pekcan.

"A proposal to trade in local currencies is now being discussed in the Finance Ministry and we are hopeful that this would be dealt with soon," he said.

On the issue of their trade deficit with India raised by Turkey, Prabhu said that bilateral business relations would have to be made sustainable.

"We cannot just export, we have to import from Turkey too," he said.

Prabhu said discussions with his Turkish counterpart revolved around issues such as setting up of banking facilities in both countries, tapping of construction opportunities in India, and increasing Turkish commodity exports to India of products like boric acid and poppy seeds.

Earlier this year, the Indian Cabinet approved an agreement between both countries to ensure quick and transparent processing of poppy seed imports from Turkey.

Prabhu also said he is slated to visit Turkey as the head of a business delegation in February 2019.

Speaking on the occasion, Pekcan noted the bilateral trade volume last year was $7 billion and going by the data of the first 11 months, the figure is all set to reach $8 billion mark next year.

"Turkey would like the figures to be much higher along with balanced trade," she said.

The Turkish Minister expressed hope that issues such as non-acceptance of Turkey's letters of credit and the absence of a correspondent bank in India would be resolved before Prabhu's forthcoming visit to Turkey.

Turkey continues to remain excluded from India's liberalised visa regime, with e-visa facilities having already been granted to over 160 countries.

The Economic Times |

Huge investment opportunities for Turkish construction firms in India: Prabhu

Huge investment opportunities exist in India in various sectors including construction for Turkish companies, Commerce and Industry Minister Suresh Prabhu said on Tuesday.

He said all issues such as trade deficit, raised by Turkey, would be looked upon by India.

"There is a huge potential for Turkish construction companies to operate in India," Prabhu said here at India-Turkey Business Forum meet.

While India's exports to Turkey stood at USD 5 billion, imports were only USD 2.2 billion in 2017-18.

"We have discussed all issues and we will resolve those" to promote trade and investments between the two countries, he said.

Turkey has flagged issues related to export of poppy seeds, agri products and enhancing banking relations to push its shipments in India.

In May, the Cabinet approved signing of a pact between the countries on trade in poppy seeds to ensure quick and transparent processing for its import from Turkey.

The minister has also agreed to visit Turkey in February to discuss ways to further expand trade and investment relations. There is also a proposal from Turkey for doing trade in local currency with India.

Speaking at the event, Turkish Trade Minister Ruhsar Pekcan said her country will provide all support to put in place a proposed free trade agreement with India.

She raised the issue of letters of credit, which are not accepted in India. She added that increase in number of flights between the countries would help promote the growth of tourism sector.

The minister also emphasised to remove obstacles in promoting "sustainable trade".

Business Standard |

India striving hard to resolve all pending issues relating to trade with Turkey: Suresh Prabhu

Commerce & Industry and Civil Aviation Minister, Mr Suresh Prabhu, today said that India was striving hard to resolve all pending issues relating to trade with Turkey before his planned visit to Turkey along with a business delegation in February 2019.

Addressing the 'India-Turkey Business Forum', jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and DEiK (Foreign Economic Relations Board) of Turkey, Mr Prabhu said that several issues that were hindering the augmentation of trade between the two countries had come up for discussions with the visiting Turkish Minister for Trade, Ms Ruhsar Pekcan. These included setting up of banking facilities in both countries and the tapping of construction opportunities in India and issues relating to increasing commodity products like boric acid and poppy seeds exports from Turkey to India.

He said that bilateral trade relations would have to be made sustainable. "We cannot just export, we have to import from Turkey too," he added. Mr Prabhu said the proposal to trade in local currencies was now with the Finance Ministry and he was hopeful that this would be dealt with soon.

Ms Ruhsar Pekcan, Minister for Trade, Republic of Turkey expressed the hope that a Free Trade Agreement (FTA) between the two countries could be finalised soon to ensure sustainability in trade relations.

Discussions were on, she said and added that Turkey would explore all opportunities to have an FTA in place.

She said that the bilateral trade volume was US$ 7 billion in 2017 and going by the trade figures of first 11 months, the trade was all set to reach USD 8 billion mark in the coming financial year. Turkey would like the figures to be much higher along with balanced trade, she added. Ms Pekcan was optimistic that issues such as non-acceptance of Turkey's letters of credit and the absence of a correspondent bank in India would be resolved before the forthcoming visit to Turkey of Minister Prabhu.

Hurriyet |

Trade Minister Pekcan to travel to India

Minister of Commerce, Ruhsar Pekcan , will go to India tomorrow with an official delegation to hold various contacts .

According to a statement from the Ministry, Pekcan will move to New Delhi, India's capital city tomorrow, for official contacts.

Ministers Pekcan during the visit concerned, 18 the Ministry of Coordination of Commerce in December and the Foreign Economic Relations Board (DEIK) and with the support of the Indian Ministry of Commerce Indian Commerce and Industry Federation (FICCI) in the organization, Turkey and India will carry out the job opening of the Forum.

The business forum will be attended by Suresh Prabhu, Minister of Trade, Industry and Civil Aviation of India, as well as representatives of private sector organizations and companies from both countries.

Minister Pekcan, who will meet with the top managers and IT companies of the leading investor companies of India, will also meet with the Turkish companies who are investing in India.

The main agenda items of the visit will be the balanced development of the existing trade volume between the two countries on the basis of mutual benefit, cooperation, cooperation and mutual investment opportunities in the fields of contracting, automotive, agriculture, tourism, health, information and communication technologies, finance and logistics.

Pekcan will return to Turkey on December 19 after his contacts.

TURKEY-INDIA TRADE VOLUME

Turkey-India bilateral trade volume in 2002 637 million dollars , while increased approximately 11-fold by the end of last year reached $ 7 billion. In the first 10 months of the year, the total trade volume of last year was exceeded.

First Post |

India can play crucial role in reforming World Trade Organisation: FICCI President Rashesh Shah

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said Monday.

Prime Minister Narendra Modi Saturday highlighted the need for carrying out reforms in the WTO at the G-20 summit in Argentina.

He said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

"With the G-20 nations agreeing for the required reforms in the multilateral trading platform WTO, India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution.

"As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results," FICCI President Rashesh Shah said.

The meeting between US President Donald Trump and Chinese President Xi Jinping in Argentina has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact world trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and economy across the world, Shah noted.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India," the president said.

Business Standard |

FICCI welcomes easing of US-China trade tensions

The encouraging signals from the US President Donald Trump and Chinese President Xi Jinping's meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way, noted the industry body FICCI in a latest press release. The escalating tensions between the two major trading nations in the world has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy.

The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India. Also, with the G20 nations agreeing for the required reforms in the multilateral trading platform, WTO; India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution, according to Rashesh Shah, President, FICCI.

fibre2fashion.com |

India must play leading role in reforming WTO: FICCI

Welcoming the easing of US-China trade tensions, the Federation of Indian Chambers of Commerce and Industry (FICCI) has said that India should play a key role in bringing together all countries to the discussion table for making reforms in the multilateral trading platform—the World Trade Organization (WTO), as agreed at the recent G20 meeting.

The escalating tensions between the two major trading nations in the world—the US and China—has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy, a FICCI press release said.

In such a situation, the encouraging signals from the US President Donald Trump and Chinese President Xi Jinping’s meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way, the release added.

“The very fact that no additional tariffs will be imposed by the US and both sides will engage in negotiations, is a big relief for other trading nations, including India. Also, with the G20 nations agreeing for the required reforms in the multilateral trading platform WTO, India’s role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution,” said FICCI president Rashesh Shah.

“As the country (India) will now be hosting the G20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results, going ahead,” he added.

The Statesman |

India can play crucial role in reforming WTO: FICCI

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said on Monday.

“As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results,” FICCI President Rashesh Shah said.

Shah said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

millenniumpost |

FICCI hails easing of US-China trade tensions

The encouraging signals from the US President Donald Trump and Chinese President Xi Jinping's meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way.

The tensions between the two major trading nations in the world has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy.

Business Standard |

Easing of US-China trade tensions is a big relief for other trading nations, including India: FICCI

The encouraging signals from the US President Donald Trump and Chinese President Xi Jinping's meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way.

The escalating tensions between the two major trading nations in the world has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India. Also, with the G20 nations agreeing for the required reforms in the multilateral trading platform, WTO; India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution," said Mr Rashesh Shah, President, FICCI. "As the country will now be hosting the G20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results, going ahead," he added.

Business Standard |

India can play crucial role in reforming WTO: FICCI

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said Monday.

Prime Minister Narendra Modi Saturday highlighted the need for carrying out reforms in the WTO at the G-20 summit in Argentina.

He said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

"With the G-20 nations agreeing for the required reforms in the multilateral trading platform WTO, India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution.

"As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results," FICCI President Rashesh Shah said.

The meeting between US President Donald Trump and Chinese President Xi Jinping in Argentina has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact world trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and economy across the world, Shah noted.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India," the president said.

CNBC TV18 |

India can play crucial role in reforming WTO, says FICCI

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said on Monday.

Prime Minister Narendra Modi on Saturday highlighted the need for carrying out reforms in the WTO at the G-20 summit in Argentina.

He said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

"With the G-20 nations agreeing for the required reforms in the multilateral trading platform WTO, India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution.

"As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results," FICCI President Rashesh Shah said.

The meeting between US President Donald Trump and Chinese President Xi Jinping in Argentina has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact world trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and economy across the world, Shah noted.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India," the president said.

The Hindu Business Line |

India can play crucial role in reforming WTO: FICCI

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said on Monday.

Prime Minister Narendra Modi on Saturday highlighted the need for carrying out reforms in the WTO at the G-20 summit in Argentina.

He said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

“With the G-20 nations agreeing for the required reforms in the multilateral trading platform WTO, India’s role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution.

“As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results,” FICCI President Rashesh Shah said.

The meeting between US President Donald Trump and Chinese President Xi Jinping in Argentina has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact world trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and economy across the world, Shah noted.

“The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India,” the president said.

Moneycontrol |

India can play crucial role in reforming WTO: FICCI

India can play a crucial role in reforming the WTO by drawing nations to the discussion table for finding a workable solution, as the country is set to host the G20 summit in 2022, industry body FICCI said December 3.

Prime Minister Narendra Modi on December 1 highlighted the need for carrying out reforms in the WTO at the G-20 summit in Argentina.

He said that reforming the WTO is very important and it is also necessary to carry forward the dialogue on trade, services and promoting the global value chain in the agricultural sector.

"With the G-20 nations agreeing for the required reforms in the multilateral trading platform WTO, India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution.

"As the country will be hosting the G-20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results," FICCI President Rashesh Shah said.

The meeting between US President Donald Trump and Chinese President Xi Jinping in Argentina has shown positive outcomes. In all probability, it will succeed in defusing the impending global trade war, which threatened to impact world trade in a major way, he added.

Escalating tensions between the two major trading nations has been a cause of deepening concern in terms of its adverse impact on the financial markets and economy across the world, Shah noted.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India," the president said.

SME Times |

Easing of US-China trade tensions good sign: FICCI

Industry body FICCI on Monday welcomed the recent easing of trade tensions between the US and China.

The encouraging signals from the US President Donald Trump and Chinese President Xi Jinping's meeting in Argentina have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way, FICCI said in a press statement.

The escalating tensions between the two major trading nations in the world has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy, it added.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including India. Also, with the G20 nations agreeing for the required reforms in the multilateral trading platform, WTO" said Rashesh Shah, President, FICCI.

India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution, he added.

"As the country will now be hosting the G20 summit in 2022, it can play an important role in helping the positive results of the Argentina meeting deliver concrete results, going ahead," he said.

SME Times |

WTO should be modified, forward-looking: Prabhu

Minister of Commerce and Industry Suresh Prabhu on Monda stressed the critical importance of devising a modified, forward-looking and inclusive World Trade Organisation (WTO) that includes all substantive issues to be resolved in a time-bound manner.

Speaking at the conference 'Strategic Alliance for WTO and Trade Remedies Law and Practice, organised by FICCI jointly with Lakshmikumaran & Sridharan, Prabhu said post the mini-ministerial conference in March this year,

"We are preparing an agenda that does not exclude any country in the process of making the WTO better", he said.

Prabhu said that he had personally met with 150 trade ministers from different countries to take a reformed WTO agenda forward.

"I am getting a positive response from all concerned including the Director General of WTO in our endeavour to take all countries on-board", he added.

The Commerce Minister said expansion of global trade hinges on rules and processes determined by the WTO and unless global trade expands, national economies will not benefit.

It was, therefore, important that all substantive issues that have been agreed to at the Doha and other trade rounds as well as new issues that have cropped up are addressed with a sense of urgenc, he added.

Rashesh Shah, President, FICCI expressed Indian industry's concern over reports that the appointment of appellate body in the WTO dispute resolution mechanism is blocked.

R Parthasarathy, Principal Partner, Lakshmikumaran & Sridharan while welcoming the Minister gave a background of SAWTR and the theme of the conference 'Contemporary challenges in the international trading systems', particularly the current trade war and underlined the need for bringing WTO negotiations back on rails, making it even more rule based.

The Sentinel |

India Renews Call for World Trade Organisation (WTO) Reform

Making an indirect reference to the ongoing US-China trade war that poses a “big challenge” to the multilateral trade system, India on Monday reiterated its call to reform the World Trade Organisation (WTO) to ensure its relevance in the changed global scenario. Addressing a conference here organised by industry chamber Ficci, Commerce Minister Suresh Prabhu said that the ongoing discussions to reform the WTO must include both old as well as new issues so as to prepare a “forward-looking agenda” for the multilateral body. “To ensure that there no repeat of the Buenos Aires (WTO ministerial in December 2017) failure it had been decided to draw up a new agenda for the WTO,” Prabhu said.

“Since then much water has flown under the WTO bridge, so to speak, and the organisation faces unprecedented challenges.” Earlier this year, US President Donald Trump launched a trade war against China by imposing tariffs on around half of its imports into America and has threatened to deepen the conflict and target all of its imports. Prabhu said that there were current challenges to global trade, the impact of which would have serious implications for the world economy and individual nations. “Today, we must agree that without WTO, we will have a problem because we need global trade. We must make sure that WTO remains intact… It has to change and change for the better,” he said.

The Minister said that India was in discussions with other member countries and an agenda was being prepared which would be forward looking, agreeable to all nations and include substantive issues.

siliconindia News |

India renews call for WTO reform

Making an indirect reference to the ongoing US-China trade war that poses a "big challenge" to the multilateral trade system, India on Monday reiterated its call to reform the World Trade Organisation (WTO) to ensure its relevance in the changed global scenario.

Addressing a conference here organised by industry chamber FICCI, Commerce Minister Suresh Prabhu said that the ongoing discussions to reform the WTO must include both old as well as new issues so as to prepare a "forward-looking agenda" for the multilateral body.

"To ensure that there no repeat of the Buenos Aires (WTO ministerial in December 2017) failure it had been decided to draw up a new agenda for the WTO," Prabhu said.

"Since then much water has flown under the WTO bridge, so to speak, and the organisation faces unprecedented challenges."

Earlier this year, US President Donald Trump launched a trade war against China by imposing tariffs on around half of its imports into America and has threatened to deepen the conflict and target all of its imports.

Prabhu said that there were current challenges to global trade, the impact of which would have serious implications for the world economy and individual nations.

"Today, we must agree that without WTO, we will have a problem because we need global trade. We must make sure that WTO remains intact... It has to change and change for the better," he said.

The Minister said that India was in discussions with other member countries and an agenda was being prepared which would be forward looking, agreeable to all nations and include substantive issues.

"We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues also need to be taken into account. So, we cannot forget the so-called old issues.

"At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements," he said.

At the Buenos Aires ministerial, which failed to reach an agreement due to the US intransigence on food stockholding, India continued to press for the reduction of farm subsidies by developed countries and resisted inclusion of new issues on the negotiating table.

"The WTO processes - which include rules and practices - have to improve. In the last few months, I have spoken to ministers from over 100 countries and discussed how to prepare a new agenda for the WTO," Prabhu said.

In September, senior officials of the G-20 nations, meeting in Argentina, reached a consensus on an initiative to reform the WTO.

China and the European Union, among others, have insisted for several months on the need to start discussions on reforming the WTO, to avoid a chaotic situation in the international political and economic system.

FnBnews.com |

Prabhu stresses on need for modified, forward-looking & inclusive WTO

Suresh Prabhu, minister of commerce and industry, Government of India, emphasised the critical importance of devising a modified, forward-looking and inclusive World Trade Organization (WTO) that includes deliberations on all substantive issues, old and new, pertaining to the various countries’ interests and resolutions in a time-bound manner.

Speaking at a conference titled Strategic Alliance for WTO and Trade Remedies Law and Practice, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) jointly with Lakshmikumaran and Sridharan in New Delhi recently, he said expansion of global trade hinged on rules and processes determined by the WTO and unless global trade expanded, national economies will not benefit.

“It is, therefore, important that all substantive issues that have been agreed to at the Doha and other trade rounds, as well as the new issues that have cropped up, are addressed with a sense of urgency,” Prabhu added.

Post the mini-ministerial conference in March this year, he said, “We are preparing an agenda that does not exclude any country in the process of making the WTO better.”

Prabhu said that he had personally met 150 trade ministers from different countries to take a reformed WTO agenda forward. “I am getting a positive response from all concerned, including the director general of WTO, in our endeavour to take all countries on board,” he added.

It is pertinent to mention here that for some time, Indian policies like food security and public stockpiling of the food, and more recently, the proposed agri export policy have seen some resistance amongst the WTO members.

Recently, India informed WTO that the new agri policy would be in sync with the global trade rules. The policy wants to do away with the minimum export price or outright ban and seeks to boost the exports to close to $60 billion by 2022. Even the European Union (EU) asked for a detailed explanation on the subject.

Arpita Mukherjee, professor, Indian Council for Research on International Economic Relations (ICRIER), stated that this was regarding the WTO’s SCM Agreement which contains a definition of the term subsidy based on three basic elements: (i) a financial contribution (ii) made by a government or any public body within the territory of a Member, (iii) which confers a benefit.

“All three of these elements must be satisfied in order for a subsidy to exist. Thus, the SCM Agreement applies not only to measures of national governments, but also to measures of sub-national governments, and of such public bodies as state-owned companies,” she added.

While the Government of India says that the National Agriculture Export Policy was formulated in line with the vision to double the farmers’ incomes and increase the share of agricultural exports from the present $30 billion-plus to over $60 billion-plus by 2022, and to boost high value and value added agricultural exports, focussing on perishables.

The policy note also stated that it aimed to promote novel indigenous, organic, ethnic traditional and non-traditional categories and to provide an institutional mechanism for tackling market access barriers and deal with sanitary and phytosanitary issues.

India aims to become one of the top 10 exporting countries of agricultural products and strive to double India’s share in world agri exports by this policy, that also focusses on export-centric clusters for integrated commodity focus value chain and infrastructure development.

On the question of how achievable the targets were, Mukherjee stated, “The policy has identified certain barriers to exports such as poor logistics infrastructure, leading to wastage, poor quality, primarily exports are low value, semi-processed products, etc.”

“It offers certain suggestions to boost exports, such as stable trade policy. However, most of our exports are rejected due to non-adherence to food safety and health standards,” she added.

Mukherjee said, “So unless we meet the standards of the importing countries export cannot increase. Overall, the focus is balanced, but the core issue of not meeting food safety standards in spite of export control bodies, like the Export Inspection Council of India (EIC), has not been given the due importance.”

The Times of India |

WTO's discussion agenda must include old, new issues: Prabhu

Commerce and Industry Minister Suresh Prabhu Monday said that discussion agenda of the World Trade Organization (WTO) must include both old as well as new issues to maintain the relevance of the global trade body.

He said that there were challenges before the global trade and their impact would have implications on the world economy.

"Today, we must agree that without WTO, we will have a problem because we need global trade...We must make sure that WTO remains intact. WTO has to change and change for the better," he said here at a programme organised by law firm Lakshmikumaran and Sridharan and an industry chamber.

Prabhu said that based on his discussions with other member countries, an agenda was being prepared which will be forward looking, agreeable to all nations and include substantive issues.

"We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues also need to be taken into account... So, we cannot forget the so-called old issues. At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements," he added.

While developing countries, including India, want issues related to agricultural subsidies to be resolved, developed nations, such as the US, are keen to push forward new matters related to e-commerce and investments.

WTO's relevance is now under question as some countries are taking unilateral measures, which are impacting global trade.

The 164-member Geneva-based organisation deals with global trade-related issues.

At its last meeting in Argentina in 2017, the talks collapsed after the US went back on its commitment to find a permanent solution to the public food stockholding issue, a key matter for India.

The Economic Times |

WTO's discussion agenda must include old, new issues: Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu Monday said that discussion agenda of the World Trade Organization (WTO) must include both old as well as new issues to maintain the relevance of the global trade body.

He said that there were challenges before the global trade and their impact would have implications on the world economy.

"Today, we must agree that without WTO, we will have a problem because we need global trade...We must make sure that WTO remains intact. WTO has to change and change for the better," he said here at a programme organised by law firm Lakshmikumaran and Sridharan and an industry chamber.

Prabhu said that based on his discussions with other member countries, an agenda was being prepared which will be forward looking, agreeable to all nations and include substantive issues.

"We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues also need to be taken into account... So, we cannot forget the so-called old issues. At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements," he added.

While developing countries, including India, want issues related to agricultural subsidies to be resolved, developed nations, such as the US, are keen to push forward new matters related to e-commerce and investments.

WTO's relevance is now under question as some countries are taking unilateral measures, which are impacting global trade.

The 164-member Geneva-based organisation deals with global trade-related issues.

At its last meeting in Argentina in 2017, the talks collapsed after the US went back on its commitment to find a permanent solution to the public food stockholding issue, a key matter for India.

Business Standard |

India renews call for WTO reform

Making an indirect reference to the ongoing US-China trade war that poses a "big challenge" to the multilateral trade system, India on Monday reiterated its call to reform the World Trade Organisation (WTO) to ensure its relevance in the changed global scenario.

Addressing a conference here organised by industry chamber FICCI, Commerce Minister Suresh Prabhu said that the ongoing discussions to reform the WTO must include both old as well as new issues so as to prepare a "forward-looking agenda" for the multilateral body.

"To ensure that there no repeat of the Buenos Aires (WTO ministerial in December 2017) failure it had been decided to draw up a new agenda for the WTO," Prabhu said.

"Since then much water has flown under the WTO bridge, so to speak, and the organisation faces unprecedented challenges."

Earlier this year, US President Donald Trump launched a trade war against China by imposing tariffs on around half of its imports into America and has threatened to deepen the conflict and target all of its imports.

Prabhu said that there were current challenges to global trade, the impact of which would have serious implications for the world economy and individual nations.

"Today, we must agree that without WTO, we will have a problem because we need global trade. We must make sure that WTO remains intact... It has to change and change for the better," he said.

The Minister said that India was in discussions with other member countries and an agenda was being prepared which would be forward looking, agreeable to all nations and include substantive issues.

"We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues also need to be taken into account. So, we cannot forget the so-called old issues.

"At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements," he said.

At the Buenos Aires ministerial, which failed to reach an agreement due to the US intransigence on food stockholding, India continued to press for the reduction of farm subsidies by developed countries and resisted inclusion of new issues on the negotiating table.

"The WTO processes - which include rules and practices - have to improve. In the last few months, I have spoken to ministers from over 100 countries and discussed how to prepare a new agenda for the WTO," Prabhu said.

In September, senior officials of the G-20 nations, meeting in Argentina, reached a consensus on an initiative to reform the WTO.

China and the European Union, among others, have insisted for several months on the need to start discussions on reforming the WTO, to avoid a chaotic situation in the international political and economic system.

The Hindu Business Line |

Old issues at the WTO cannot be forgotten, new ones to be addressed too: Suresh Prabhu

Commerce & Industry Minister Suresh Prabhu said that India will keep pushing for resolution of long-pending issues at the World Trade Organisation (WTO) such as farm subsidies and food security but would also be open to new issues being addressed.

“We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues need to be taken into account... At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements,” Prabhu said speaking at the conference ‘Strategic Alliance for WTO and Trade Remedies Law and Practice, organised by FICCI and Lakshmikumaran & Sridharan.

India, and a number of other developing countries, have been pushing for a permanent solution to the problem of food procurement subsidies to ensure that members don’t get penalised in case such subsidies over-shoot the existing caps. These countries have been demanding that either the caps on these subsidies be removed or the method for calculating the subsidies be changed and linked to the present market prices.

Several developed countries, such as the US, the EU, Australia and New Zealand, have been making a case for inclusion of issues such as e-commerce, investments and gender in the multilateral agenda. India has so far been opposing these attempts and is not part of the plurilateral groups that have been formed to discuss these issues.

Prabhu said that he had personally met 150 trade ministers from different countries to take a reformed WTO agenda forward. “I am getting a positive response from all concerned including the Director General of WTO in our endeavour to take all countries on-board”, he said.

The Commerce Minister added that expansion of global trade hinged on rules and processes determined by the WTO and unless global trade expanded, national economies will not benefit. It was, therefore, important that all substantive issues that had been agreed to at the launch of the Doha Round in 2001 and other trade rounds as well as new issues that have cropped up are addressed with a sense of urgency, he said.

The Hindu |

Talks on with 150 nations to reform WTO: Suresh Prabhu

Commerce Minister Suresh Prabhu on Monday said he was in talks with at least 150 countries to work out the way forward for reforming the World Trade Organisation (WTO). He said that the multilateral trading system was under stress and a number of fresh trade-restrictive measures, which would affect global trade and economic growth, had surged.

“It is necessary that we look at making the WTO improve further,” Mr. Prabhu said at a conference on a strategic alliance for the WTO and trade remedy laws. “The WTO has to change, and change for the better. We are preparing an agenda that does not exclude any country in the process of making the WTO better.”

He said that he had personally met with 150 trade ministers to move a reformed WTO agenda forward. “I am getting a positive response from all concerned, including the Director General of WTO, in our endeavour to take all countries on-board.”

“Expansion of global trade hinges on rules and processes determined by the WTO and unless global trade expands, national economies will not benefit,” he said. “It is important that all substantive issues that have been agreed to at the Doha and other trade rounds, as well as new issues that have cropped up, are addressed with a sense of urgency.”

Moneycontrol |

WTO's discussion agenda must include old, new issues: Suresh Prabhu

Commerce and Industry Minister Suresh Prabhu on Monday said that discussion agenda of the World Trade Organization (WTO) must include both old as well as new issues to maintain the relevance of the global trade body. He said that there were challenges before the global trade and their impact would have implications on the world economy.

"Today, we must agree that without WTO, we will have a problem because we need global trade...We must make sure that WTO remains intact. WTO has to change and change for the better," he said here at a programme organised by law firm Lakshmikumaran and Sridharan and an industry chamber.

Prabhu said that based on his discussions with other member countries, an agenda was being prepared which will be forward-looking, agreeable to all nations and include substantive issues.

"We cannot forget the issues that have been put on the table with an agreement of all the countries and those issues also need to be taken into account... So, we cannot forget the so-called old issues. At the same time, we cannot just forget inclusion of new issues. So, we must find out a proper substantive agenda which will be encompassing all these important elements," he added.

While developing countries, including India, want issues related to agricultural subsidies to be resolved, developed nations, such as the US, are keen to push forward new matters related to e-commerce and investments.

WTO's relevance is now under question as some countries are taking unilateral measures, which are impacting global trade.

The 164-member Geneva-based organisation deals with global trade-related issues.

The Economic Times |

Agriculture Export Policy likely to be cleared in next few days: Suresh Prabhu

The Cabinet may approve India's Agriculture Export Policy in the next few days, Commerce and Industry Minister Suresh Prabhu said Friday.

Stable trade policy regime, reforms in the APMC Act, streamlining of Mandi fee and liberalisation of land leasing norms are some of the key recommendations of the draft agriculture export policy, which seeks to double the shipment to over USD 60 billion by 2022.

"We have already come out with Agriculture Export Policy, which should be approved by the Cabinet in the next few days because inter-ministerial consultation, which takes some time, is already in advanced stage and once we do that there can be huge opportunities," Prabhu said while addressing a FICCI event.

Prime Minister Narendra Modi said last month a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

Prabhu said the thrust now is to promote India's exports and to identify opportunities not only in large markets but in areas where there are immediate opportunities.

The commerce ministry had come out with the draft agriculture export policy earlier this year.

The draft policy has pitched for greater involvement of states, improvement in infrastructure and logistics, and promotion of R&D activities for new product development for the upcoming markets.

The 'National Agriculture Export Policy' is formulated in line with the vision to double the farmers' income and increase the share of agricultural exports from present about USD 30 billion to over USD 60 billion by 2022.

It also aims to boost high value and value added agricultural exports, focusing on perishables; to provide an institutional mechanism for tackling market access barriers and deal with sanitary and phytosanitary issues; and to become one of the top 10 exporting countries of agricultural products and strive to double India's share in world agri exports.

Business Standard |

CEPA with Bangladesh can be template for enhancing trade in South Asia: Suresh Prabhu

India and Bangladesh have proposed early conclusion of a Compressive Economic Cooperation Agreement (CEPA) to boost bilateral trade and investment and set an example for giving a fillip to regional trade in South Asia, Union Commerce and Industry Minister Suresh Prabhu said on Friday.

Speaking at the launch of the World Bank Group's Regional Trade Report at Federation House, on return from his Bangladesh visit, Prabhu said that India and Bangladesh have agreed to upgrade trade logistics for seamless movement of cargo. In the same spirit, he said, India would be willing to engage with its South Asian neighbours to reap the advantages emanating from similar agro-climatic conditions, topography and crop cultivation.

He urged the World Bank to explore the potential offered by services trade in the region. Prabhu added that he has invited the Bangladesh Commerce Minister and senior officials next month to identify the opportunities of investment from India to Bangladesh.

Presenting a snapshot of the Regional Trade Report, Dr. Sanjay Kathuria, Lead Economist and Coordinator, South Asia Regional Integration, the World Bank Group, said regional cooperation can lay open to India the potential to more than triple its trade with South Asia from the current level of $ 19.1 billion to $ 62.4 billion.

He added that in order to realise the benefits of proximity, addressing regional trade barriers was pivotal. He mentioned that average tariffs on South Asia are double the world average and there was a lack of awareness among exporters regarding the partner country's regulations and standards. This called for a proactive approach, led by India, to address information asymmetries and accelerate mutual recognition of standards.

Kathuria said that India could play a lead role in making SAFTA effective, create awareness, building capacity of partner countries to remove the 'noise' related to non-tariff measures, expand and accelerate the connectivity agenda with neighbours, take new initiatives and scale up existing trust-building activities through people-to-people contact.

The report suggested an eight-point South Asia trade integration strategy that includes articulating the trade strategy, phasing in trade liberalisation in sectors where there are concerns about large job displacement, implementing strategy to diversify sources of tax revenue. It also suggested focusing on critical reforms that would help the economy and the private sector take advantage of trade liberalisation, including improving trade facilitation, attracting high-quality FDI, and addressing key issues that constrain the ease of doing business.

Among other recommendations were negotiating enhanced market access within South Asia and in selected critical markets, especially in East Asia, which are underrepresented in the export basket of South Asian countries; strengthening safety nets and training among those workers whose jobs are affected; improving the links among education, training, and the job market to supply better skills to the sectors that gain from trade reform; and defining a limited fiscal package with clear and transparent criteria for the firms or sectors that will be adversely affected by trade reforms.

Business Standard |

CEPA with Bangladesh can be template for enhancing trade in South Asia: Suresh Prabhu

India and Bangladesh have proposed early conclusion of a Compressive Economic Cooperation Agreement (CEPA) to boost bilateral trade and investment and set an example for giving a fillip to regional trade in South Asia, Union Commerce and Industry Minister Suresh Prabhu said on Friday.

Speaking at the launch of the World Bank Group's Regional Trade Report at Federation House, on return from his Bangladesh visit, Prabhu said that India and Bangladesh have agreed to upgrade trade logistics for seamless movement of cargo. In the same spirit, he said, India would be willing to engage with its South Asian neighbours to reap the advantages emanating from similar agro-climatic conditions, topography and crop cultivation.

He urged the World Bank to explore the potential offered by services trade in the region. Prabhu added that he has invited the Bangladesh Commerce Minister and senior officials next month to identify the opportunities of investment from India to Bangladesh.

Presenting a snapshot of the Regional Trade Report, Dr. Sanjay Kathuria, Lead Economist and Coordinator, South Asia Regional Integration, the World Bank Group, said regional cooperation can lay open to India the potential to more than triple its trade with South Asia from the current level of $ 19.1 billion to $ 62.4 billion.

He added that in order to realise the benefits of proximity, addressing regional trade barriers was pivotal. He mentioned that average tariffs on South Asia are double the world average and there was a lack of awareness among exporters regarding the partner country's regulations and standards. This called for a proactive approach, led by India, to address information asymmetries and accelerate mutual recognition of standards.

Kathuria said that India could play a lead role in making SAFTA effective, create awareness, building capacity of partner countries to remove the 'noise' related to non-tariff measures, expand and accelerate the connectivity agenda with neighbours, take new initiatives and scale up existing trust-building activities through people-to-people contact.

The report suggested an eight-point South Asia trade integration strategy that includes articulating the trade strategy, phasing in trade liberalisation in sectors where there are concerns about large job displacement, implementing strategy to diversify sources of tax revenue. It also suggested focusing on critical reforms that would help the economy and the private sector take advantage of trade liberalisation, including improving trade facilitation, attracting high-quality FDI, and addressing key issues that constrain the ease of doing business.

Among other recommendations were negotiating enhanced market access within South Asia and in selected critical markets, especially in East Asia, which are underrepresented in the export basket of South Asian countries; strengthening safety nets and training among those workers whose jobs are affected; improving the links among education, training, and the job market to supply better skills to the sectors that gain from trade reform; and defining a limited fiscal package with clear and transparent criteria for the firms or sectors that will be adversely affected by trade reforms.

The Times of India |

Agri export policy likely to be cleared in next few days: Prabhu

The Cabinet may approve India's Agriculture Export Policy in the next few days, Commerce and Industry Minister Suresh Prabhu said Friday.

Stable trade policy regime, reforms in the APMC Act, streamlining of Mandi fee and liberalisation of land leasing norms are some of the key recommendations of the draft agriculture export policy, which seeks to double the shipment to over USD 60 billion by 2022.

"We have already come out with Agriculture Export Policy, which should be approved by the Cabinet in the next few days because inter-ministerial consultation, which takes some time, is already in advanced stage and once we do that there can be huge opportunities," Prabhu said while addressing a FICCI event.

Prime Minister Narendra Modi said last month a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

Prabhu said the thrust now is to promote India's exports and to identify opportunities not only in large markets but in areas where there are immediate opportunities.

The commerce ministry had come out with the draft agriculture export policy earlier this year.

The draft policy has pitched for greater involvement of states, improvement in infrastructure and logistics, and promotion of R&D activities for new product development for the upcoming markets.

The 'National Agriculture Export Policy' is formulated in line with the vision to double the farmers' income and increase the share of agricultural exports from present about USD 30 billion to over USD 60 billion by 2022.

It also aims to boost high value and value added agricultural exports, focusing on perishables; to provide an institutional mechanism for tackling market access barriers and deal with sanitary and phytosanitary issues; and to become one of the top 10 exporting countries of agricultural products and strive to double India's share in world agri exports.

Devdiscourse |

Suresh Prabhu launches World Bank Group's regional trade report

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, launched the World Bank Group's regional trade report "A Glass Half Full-The Promise of Regional Trade in South Asia" at a seminar organized by FICCI in New Delhi today.

Speaking on this occasion the Minister said that the potential for intra-trade growth in South Asia region has not been fully tapped as yet. The Minister further stated that during his recent trip to Bangladesh talks on boosting trade between the two countries were discussed and Bangladesh Trade Minister along with a delegation has been invited to India to discuss trade and investment potential between the two countries and India and Bangladesh are already working on a Comprehensive Economic Partnership Agreement (CEPA). During the Minister's recent visit to Bangladesh, it has been decided to set up seven border haats some of which will start immediately. The Minister further added that the potential of the services sector is yet to be explored in this region.

India's top three trading partners in South Asia are Bangladesh, Sri Lanka, and Nepal. India's trade with South Asia is only 3% of its global trade. Today India's trade with the world stands at 637.4 billion USD but with South Asia, it stands at only 19.1billion USD.

Deeper regional trade and connectivity can reduce the isolation of northeast India, give India better access to markets in East Asia, and allow it to substitute fossil fuels by cleaner hydropower from Nepal and Bhutan. Trade between India and Pakistan is a paltry USD 2 billion. The book shows that without artificial barriers, this should be USD 37 billion.

The book is written by Sanjay Kathuria and a team of South Asian researchers and it advocates an approach of open regionalism, using intra-regional trade as complementary to, and as a stepping stone for, deeper global integration.

First Post |

Agri export policy likely to be cleared in next few days, says commerce minister Suresh Prabhu

The Cabinet may approve India's Agriculture Export Policy in the next few days, Commerce and Industry Minister Suresh Prabhu said on Friday.

Stable trade policy regime, reforms in the APMC Act, streamlining of Mandi fee and liberalisation of land leasing norms are some of the key recommendations of the draft agriculture export policy, which seeks to double the shipment to over $60 billion by 2022.

"We have already come out with Agriculture Export Policy, which should be approved by the Cabinet in the next few days because inter-ministerial consultation, which takes some time, is already in advanced stage and once we do that there can be huge opportunities," Prabhu said while addressing a FICCI event.

Prime Minister Narendra Modi said last month a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

Prabhu said the thrust now is to promote India's exports and to identify opportunities not only in large markets but in areas where there are immediate opportunities.

The commerce ministry had come out with the draft agriculture export policy earlier this year.

The draft policy has pitched for greater involvement of states, improvement in infrastructure and logistics, and promotion of R&D activities for new product development for the upcoming markets.

The 'National Agriculture Export Policy' is formulated in line with the vision to double the farmers' income and increase the share of agricultural exports from present about $30 billion to over $60 billion by 2022.

It also aims to boost high value and value added agricultural exports, focusing on perishables; to provide an institutional mechanism for tackling market access barriers and deal with sanitary and phytosanitary issues; and to become one of the top 10 exporting countries of agricultural products and strive to double India's share in world agri exports.

Moneycontrol |

Agri export policy likely to be cleared in next few days: Suresh Prabhu

The Cabinet may approve India's Agriculture Export Policy in the next few days, Commerce and Industry Minister Suresh Prabhu said on September 28.

Stable trade policy regime, reforms in the APMC Act, streamlining of Mandi fee and liberalisation of land leasing norms are some of the key recommendations of the draft agriculture export policy, which seeks to double the shipment to over $60 billion by 2022.

"We have already come out with Agriculture Export Policy, which should be approved by the Cabinet in the next few days because inter-ministerial consultation, which takes some time, is already in advanced stage and once we do that there can be huge opportunities," Prabhu said while addressing a FICCI event.

Prime Minister Narendra Modi said last month a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

Prabhu said the thrust now is to promote India's exports and to identify opportunities not only in large markets but in areas where there are immediate opportunities.

The commerce ministry had come out with the draft agriculture export policy earlier this year.

The draft policy has pitched for greater involvement of states, improvement in infrastructure and logistics, and promotion of R&D activities for new product development for the upcoming markets.

The 'National Agriculture Export Policy' is formulated in line with the vision to double the farmers' income and increase the share of agricultural exports from present about $30 billion to over $60 billion by 2022.

Moneycontrol |

Agri export policy likely to be cleared in next few days: Suresh Prabhu

The Cabinet may approve India's Agriculture Export Policy in the next few days, Commerce and Industry Minister Suresh Prabhu said on September 28.

Stable trade policy regime, reforms in the APMC Act, streamlining of Mandi fee and liberalisation of land leasing norms are some of the key recommendations of the draft agriculture export policy, which seeks to double the shipment to over $60 billion by 2022.

"We have already come out with Agriculture Export Policy, which should be approved by the Cabinet in the next few days because inter-ministerial consultation, which takes some time, is already in advanced stage and once we do that there can be huge opportunities," Prabhu said while addressing a Ficci event.

Prime Minister Narendra Modi said last month a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

Prabhu said the thrust now is to promote India's exports and to identify opportunities not only in large markets but in areas where there are immediate opportunities.

The commerce ministry had come out with the draft agriculture export policy earlier this year.

The draft policy has pitched for greater involvement of states, improvement in infrastructure and logistics, and promotion of R&D activities for new product development for the upcoming markets.

The 'National Agriculture Export Policy' is formulated in line with the vision to double the farmers' income and increase the share of agricultural exports from present about $30 billion to over $60 billion by 2022.

SME Times |

Potential for India-S Asia trade not fully tapped: Prabhu

Commerce Minister Suresh Prabhu said on Friday India needs to do more to tap the potential for intra-trade growth in South Asia region.

Speaking at a seminar organised by FICCI in New Delhi, Prabhu said the potential for intra-trade growth in South Asia region has not been fully tapped as yet.

India’s trade with South Asia is only 3% of its global trade. Today India’s trade with the world stands at 637.4 billion USD but with South Asia it stands at only 19.1billion USD.

India’s top three trading partners in South Asia are Bangladesh, Sri Lanka and Nepal.

The Minister further stated that during his recent trip to Bangladesh talks on boosting trade between the two countries were discussed and Bangladesh Trade Minister along with a delegation has been invited to India to discuss trade and investment potential between the two countries and India and Bangladesh are already working on a Comprehensive Economic Partnership Agreement (CEPA).

During the Minister’s recent visit to Bangladesh it has been decided to set up seven border haats some of which will start immediately.

The Minister further added that the potential of services sector is yet to be explored in this region.

IndiaWest |

India, Bangladesh Working on Free Trade Agreement, Says Commerce Minister Suresh Prabhu

India and Bangladesh are already working on a Comprehensive Economic Partnership Agreement, or free trade agreement, which could set the example for boosting regional trade in South Asia, Commerce Minister Suresh Prabhu said Sept. 28.

Launching a World Bank Group report on trade in South Asia, Prabhu said that during his just concluded visit to Bangladesh and talks with his counterpart there, it had been decided to set up seven border 'haats,' or markets, some of which will start functioning immediately.

"During my visit to Bangladesh, I proposed that we should try to sign the Comprehensive Economic Partnership Agreement and we are working with our Bangladeshi counterparts to take it forward," Prabhu said.

"India and Bangladesh have agreed to upgrade trade logistics for seamless movement of cargo and we have already identified seven dual hubs, some of which will start working immediately," he said, adding that given the cultural and linguistic affinities between the two countries there is immense potential for trade and cooperation.

Prabhu said the Bangladesh trade minister along with a delegation has been invited to visit India in October to discuss the trade and investment potential between the two countries.

The minister also said India and Sri Lanka are "working closely together" to finalize a free trade agreement.

"We are happy to develop trade with other countries in South Asia. Development of South Asia is hindered by lack of intra-regional trade and integration," he said.

The World Bank report – "A Glass Half Full: The Promise of Regional Trade in South Asia" – says India's trade with South Asia at around $19 billion is only 3 percent of its $637 billion global trade worth.

The report also points out that current trade between India and Pakistan is a paltry $2 billion annually and could go up to $37 billion in the absence of artificial barriers.

KNN |

Suresh Prabhu to launch World Bank Group’s Regional Trade Report on September 28

Commerce & Industry Minister Suresh Prabhu will launch the World Bank Report titled “A Glass Half Full – The Promise of Regional Trade in South Asia” on September 28 in the national capital.

The World Bank and FICCI will be jointly organizing the launch program of the World Bank Report.

This policy-focused report demonstrates the existence of a very significant gap between current and potential trade in South Asia and address the specific barriers that have held back trade and investment within South Asia.

The report focuses on the following core topics including reducing tariffs and para-tariffs; addressing real and perceived non-tariff barriers; tackling the high costs of connectivity; and using the positive experience of people-to-people contacts in border markets as one way to address trust deficits between countries.

Business Standard |

BIMSTEC calls for expeditious negotiations on free trade agreement

The seven-nation bloc BIMSTEC today called for specific steps and greater political commitment to conclude negotiations expeditiously for a free trade agreement.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia.

These include Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

BIMSTEC Secretary General Shahidul Islam "called for specific steps to rejuvenate the regional grouping through greater political commitment, expeditious negotiations on free trade agreement, adequate funding, BIMSTEC special visas and closer people-to-people contacts," FICCI said in a statement.

Islam said that the agreement would help spur growth and development in the region.

He added that the BIMSTEC secretariat needed to be adequately financed as its present budget is a mere USD 1 million.

Further a FICCI report on BIMSTEC suggests funding of USD 2 billion from India and USD 1 billion from other member states.

The BIMSTEC region is home to over 1.5 billion people which constitute around 22 per cent of the global population.

Business Standard |

Bimstec Secretary-General calls for expeditious FTA talks

To boost sub-regional economic cooperation, Bimstec Secretary-General Shahidul Islam on Thursday called for faster negotiations for the conclusion of a free trade agreement (FTA) within this grouping of South Asian and Southeast Asian nations.

Speaking at the launch of report by industry body FICCI titled "Reinvigorating Bimstec: An Industry Vision for the Next Decade" here, Islam said that though a framework agreement was signed for a Bimstec FTA in 2004, negotiations have remained stalled for the last-two-and-a-half years.

He called for specific steps to rejuvenate the regional grouping through greater political commitment, expeditious negotiations on Bimstec FTA, adequate funding, Bimstec special visas and closer people-to-people contacts.

"The time now is to consolidate on the progress made in the last 20 years and take immediate steps to give Bimstec a distinct regional flavour," the Bangladeshi diplomat, who was appointed Bimstec Secretary-General last year, said.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) came into existence in June 1997 through the Bangkok Declaration.

It comprises seven countries lying in the littoral and adjacent areas of the Bay of Bengal - Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

The main objective of Bimstec is technical and economic cooperation among South Asian and Southeast Asian countries along the rim of the Bay of Bengal.

With the South Asian Association for Regional Cooperation (Saarc) virtually rendered ineffective as a bloc, largely due to non-cooperation on the part of Pakistan in a number of areas, India has been giving more importance to Bimstec in recent times.

The bloc brings together 1.5 billion people or 21 per cent of the world's population and has a combined GDP of $2.5 trillion.

India is the lead country for cooperation in four priority areas: counter-terrorism and transnational crime, transport and communication, tourism and environment, and disaster management.

In his speech, Islam said that at a Bimstec ministerial meeting held in Bangkok last year, four major pillars were identified on which economic cooperation between the member states rests.

"First, closer public-private partnership to promote economic cooperation and to this end, creation of Bimstec Economic Forum to facilitate high-level exchange of views between policy makers and business community," he said.

"Second, identification of sectors, sub-sectors and projects for economic cooperation. Initially five key sectors were identified, namely, textile and clothing, drugs and pharmaceuticals, gems and jewellery, horticulture and floriculture products, information technology products and services."

Thirdly, he said, there should holding of senior economic officials' meeting to promote intra-regional cooperation on elimination of non-tariff barriers, market access issues and services.

Fourthly, he mentioned infrastructure building with assistance of multilateral institutions, UN agencies, World Bank and ADB.

Islam said that FTAs were no panacea for development, but they represented a crucial first step towards spurring growth and development in the region.

Bangladesh, he said, had agreed to hold the next round of trade negotiations for concluding the Bimstec FTA which should be started without delay.

The Bimstec Secretariat in Dhaka, he said, needed to be adequately financed as its present budget is a mere $1 million.

The FICCI Knowledge report on reinvigorating Bimstec, prepared by a core group with former Indian diplomat Rajiv Bhatia as the Chair and Vikramjit Singh Sahney of Sun Group as Co-chair, suggests funding of $2 billion from India and $1 billion from other member states.

"This is the kind of commitment required to give a fillip to generating meaningful activities in the region," Islam said.

FICCI President Rashesh Shah said the Bimstec member nations together have untapped economic potential to catapult regional trade and investment to the next level and provide a framework to achieve sustainable development.

"The FICCI core group report strives to understand the key drivers of the development paradigm for the region and identify the contours of an economically feasible and result driven approach for BIMSTEC to achieve sustained progress," Shah said.

"To fulfill this vision, all stakeholders concerned have to work together for a stable, prosperous and integrated neighbourhood."

Bhatia, who also served as India's Ambassador to Myanmar, said that with Saarc regional grouping facing difficulties, "we can work on revitalising Bimstec".

"We should bring Laos, Cambodia and Vietnam into Bimstec and reconfigure it," he said.

He also called for the holding of a Bimstec summit meeting at the earliest.

Business Today |

Expedite BIMSTEC FTA, says Secretary General of seven nation group

The seven countries that are part of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) should speed up negotiations on a free trade agreement, Shahidul Islam, its secretary general says. The members of 20 year old BIMSTEC are India, Bangladesh, Bhutan Nepal, Sri Lanka Myanmar and Thailand.

In a special address, after releasing a report by industry chamber FICCI on 'Reinvigorating BIMSTEC: An Industry Vision for the Next Decade', Islam said that concerted efforts for greater political commitment, expeditious negotiations on BIMSTEC Free Trade Agreement, adequate funding, BIMSTEC special visas and closer people-to-people contacts can only rejuvenate the regional group.

FTAs are no panacea for development, but they represent a crucial first step towards spurring growth and development in the region, he said. Islam informed that Bangladesh, which hosts BIMSTEC secretariat, has agreed to hold the next round of trade negotiations for concluding the BIMSTEC FTA. The BIMSTEC Secretariat, he said, needed to be adequately financed as its present budget is a mere $1 million.

The FICCI Knowledge report on reinvigorating BIMSTEC suggests funding of $2 billion from India and $1 billion from other member states. "This is the kind of commitment is required" to give a fillip to generating meaningful activities in the region, Islam said.

The FICCI report calls for the creation of a new 'BIMSTEC' by strengthening infrastructure linkages, deepening regional transport connectivity, facilitating cross-border trade, investment and tourism, protecting the environment and promoting sustainable use of shared natural resources in the BIMSTEC economies.

"Government-business interface in the functioning of BIMSTEC has remained weak and ineffective. It needs to be strengthened and institutionalised to enable it to produce better results," the report said. It wanted BIMSTEC members to set up a BIMSTEC Business Council on the lines of a similar mechanism that exists in BRICS to facilitate better economic activities within the region.

"The BIMSTEC grouping is home to 1.5 billion people, approximately 22 per cent of the world population and with a combined GDP of close to $2.7 trillion. Together, the member nations have untapped economic potential to catapult regional trade and investment to the next level and provide a framework to achieve sustainable development. The FICCI Core Group report strives to understand the key drivers of the development paradigm for the region and identify the contours of an economically feasible and result driven approach for BIMSTEC to achieve sustained progress. To fulfil this vision, all stakeholders concerned have to work together for a stable, prosperous and integrated neighbourhood," Rashesh Shah, FICCI president, said.

The FICCI Core Group has recommended strategic thrusts in select priority sectors to make BIMSTEC a result-oriented, effective and influential institution. This could be achieved by concluding negotiations for free trade agreements and trade facilitation, strengthening infrastructure linkages, deepening regional transport connectivity, facilitating cross-border trade and investment, and tourism, enhancing private sector participation and competitiveness, supporting regional power trading, developing human resources through mutual cooperation, protecting the environment and promoting sustainable use of shared natural resources, creating the Bay of Bengal Community (BoBC) and, promoting all-round cooperation in 'soft power' areas.

India Today |

BIMSTEC calls for expeditious negotiations on free trade agreement

The seven-nation bloc BIMSTEC today called for specific steps and greater political commitment to conclude negotiations expeditiously for a free trade agreement.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation involving a group of countries in South Asia and South East Asia.

These include Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

BIMSTEC Secretary General Shahidul Islam "called for specific steps to rejuvenate the regional grouping through greater political commitment, expeditious negotiations on free trade agreement, adequate funding, BIMSTEC special visas and closer people-to-people contacts," FICCI said in a statement.

Islam said that the agreement would help spur growth and development in the region.

He added that the BIMSTEC secretariat needed to be adequately financed as its present budget is a mere USD 1 million.

Further a FICCI report on BIMSTEC suggests funding of USD 2 billion from India and USD 1 billion from other member states.

The BIMSTEC region is home to over 1.5 billion people which constitute around 22 per cent of the global population.

The Quint |

Bimstec Secretary-General calls for expeditious FTA talks

To boost sub-regional economic cooperation, Bimstec Secretary-General Shahidul Islam on Thursday called for faster negotiations for the conclusion of a free trade agreement (FTA) within this grouping of South Asian and Southeast Asian nations.

Speaking at the launch of report by industry body FICCI titled "Reinvigorating Bimstec: An Industry Vision for the Next Decade" here, Islam said that though a framework agreement was signed for a Bimstec FTA in 2004, negotiations have remained stalled for the last-two-and-a-half years.

He called for specific steps to rejuvenate the regional grouping through greater political commitment, expeditious negotiations on Bimstec FTA, adequate funding, Bimstec special visas and closer people-to-people contacts.

"The time now is to consolidate on the progress made in the last 20 years and take immediate steps to give Bimstec a distinct regional flavour," the Bangladeshi diplomat, who was appointed Bimstec Secretary-General last year, said.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) came into existence in June 1997 through the Bangkok Declaration.

It comprises seven countries lying in the littoral and adjacent areas of the Bay of Bengal - Bangladesh, Bhutan, India, Myanmar, Nepal, Sri lanka and Thailand.

The main objective of Bimstec is technical and economic cooperation among South Asian and Southeast Asian countries along the rim of the Bay of Bengal.

With the South Asian Association for Regional Cooperation (Saarc) virtually rendered ineffective as a bloc, largely due to non-cooperation on the part of Pakistan in a number of areas, India has been giving more importance to Bimstec in recent times.

The bloc brings together 1.5 billion people or 21 per cent of the world's population and has a combined GDP of $2.5 trillion.

India is the lead country for cooperation in four priority areas: counter-terrorism and transnational crime, transport and communication, tourism and environment, and disaster management.

In his speech, Islam said that at a Bimstec ministerial meeting held in Bangkok last year, four major pillars were identified on which economic cooperation between the member states rests.

"First, closer public-private partnership to promote economic cooperation and to this end, creation of Bimstec Economic Forum to facilitate high-level exchange of views between policy makers and business community," he said.

"Second, identification of sectors, sub-sectors and projects for economic cooperation. Initially five key sectors were identified, namely, textile and clothing, drugs and pharmaceuticals, gems and jewellery, horticulture and floriculture products, information technology products and services."

Thirdly, he said, there should holding of senior economic officials' meeting to promote intra-regional cooperation on elimination of non-tariff barriers, market access issues and services.

Fourthly, he mentioned infrastructure building with assistance of multilateral institutions, UN agencies, World Bank and ADB.

Islam said that FTAs were no panacea for development, but they represented a crucial first step towards spurring growth and development in the region.

Bangladesh, he said, had agreed to hold the next round of trade negotiations for concluding the Bimstec FTA which should be started without delay.

The Bimstec Secretariat in Dhaka, he said, needed to be adequately financed as its present budget is a mere $1 million.

The FICCI Knowledge report on reinvigorating Bimstec, prepared by a core group with former Indian diplomat Rajiv Bhatia as the Chair and Vikramjit Singh Sahney of Sun Group as Co-chair, suggests funding of $2 billion from India and $1 billion from other member states.

"This is the kind of commitment required to give a fillip to generating meaningful activities in the region," Islam said.

FICCI President Rashesh Shah said the Bimstec member nations together have untapped economic potential to catapult regional trade and investment to the next level and provide a framework to achieve sustainable development.

"The FICCI core group report strives to understand the key drivers of the development paradigm for the region and identify the contours of an economically feasible and result driven approach for BIMSTEC to achieve sustained progress," Shah said.

"To fulfill this vision, all stakeholders concerned have to work together for a stable, prosperous and integrated neighbourhood."

Bhatia, who also served as India's Ambassador to Myanmar, said that with Saarc regional grouping facing difficulties, "we can work on revitalising Bimstec".

"We should bring laos, Cambodia and Vietnam into Bimstec and reconfigure it," he said.

He also called for the holding of a Bimstec summit meeting at the earliest.

Corporate Ethos |

India Can Play a Significant Role in Diffusing Trade War: FICCI

The US protectionist measures have raised serious concerns about a global trade war. With the World Trade Organisation (WTO) Director-General Roberto Azevedo raising an alarm on this at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world should think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs.

“India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade,” said Mr. Rashesh Shah, President, FICCI.

Mr. Shah added that, “Commerce and Industry minister Suresh Prabhu has shown, not only by holding the mini-ministerial in New Delhi at this crucial juncture, but also by turning it into a platform for ‘meeting of minds’, that India can lead in bringing together all the countries to find a way out to avoid fuelling of a trade war due to the US actions”.

“It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution,” he said. India’s growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO.

Mr Roberto Azevedo, Director General, World Trade Organization (WTO) stressed the need for WTO members to come together, adopt a flexible posture and cooperate in resolving the global trade related issues. The WTO Director General was speaking at an Industry Interaction organized by the Confederation of Indian Industry (CII) in New Delhi on Friday. The Industry Interaction with Mr Azevedo was organized on the sidelines of the informal WTO Ministerial organized by India.

Mr Azevedo in his speech appreciated the initiative and the leadership role taken by India in organizing the Mini Ministerial at a key moment in global trade. He stated that there are encouraging trends in global trade in terms of increased export orders, merchandise trade volumes and sea-trade traffic pointing to growth above trend in the first quarter of 2018. However, he also pointed to the rising risks to this positive outlook with recent incidents of increased protectionist moves by members. He cited the recent tariff increases by the US for steel and aluminum among other protectionist measures by other countries.

The Pioneer |

India must lead in defusing global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said on Friday.

The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

"India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade," said Rashesh Shah, President, FICCI.

Shah noted that by turning the mini-ministerial into a platform for 'meeting of minds', Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions. "It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution," Shah said. "India's growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO," he added.

Concerns over a global trade resurfaced after US President Donald Trump on Thursday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the world's two biggest economies. In response to Trump's move, China unveiled plans on Friday to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China's Ministry of Commerce said in a statement.

Asian Age |

Trade war fears wipe Rs 1.57L-cr of wealth

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said.

The body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the WTO process intact and also making the multilateral institution stronger.

Moreover, with the WTO DG Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral hike in tariffs, FICCI said.

India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade,” said Rashesh Shah, President, FICCI.

Mr Shah noted that by turning the mini-ministerial into a platform for ‘meeting of minds’, Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out.

The Economic Times |

India must lead in defusing possibilities of a global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said today.

The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, said Rashesh Shah, President, FICCI.

Shah noted that by turning the mini-ministerial into a platform for meeting of minds', Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution, Shah said.

"India's growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO," he added.

Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the world's two biggest economies.

In response to Trump's move, China unveiled plans today to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China's Ministry of Commerce said in a statement.

Business Standard |

India must lead in defusing the possibilities of a global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said today.

The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, said Rashesh Shah, President, FICCI.

Shah noted that by turning the mini-ministerial into a platform for meeting of minds', Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution, Shah said.

"India's growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO," he added.

Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the world's two biggest economies.

In response to Trump's move, China unveiled plans today to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China's Ministry of Commerce said in a statement.

The Hindu Business Line |

'India must lead in defusing the possibilities of a global trade war'

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said today.

The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

“India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade,” said Rashesh Shah, President, FICCI.

Strengthening WTO

Shah noted that by turning the mini-ministerial into a platform for ‘meeting of minds’, Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution, Shah said. “India’s growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO,” he added.

Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its “unfair” seizure of American intellectual property, a move that could escalate the already tense trade relations between the world’s two biggest economies.

In response to Trump’s move, China unveiled plans today to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China’s Ministry of Commerce said in a statement.

The Indian Express |

India must lead in defusing the possibilities of a global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said Friday. The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

“India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade,” said Rashesh Shah, President, FICCI.

Shah noted that by turning the mini-ministerial into a platform for ‘meeting of minds’, Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

“It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution,” Shah said.

“India’s growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO,” he added. Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its “unfair” seizure of American intellectual property, a move that could escalate the already tense trade relations between the world’s two biggest economies.

In response to Trump’s move, China unveiled plans today to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said. The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China’s Ministry of Commerce said in a statement.

Business Today |

India must lead in defusing the possibilities of a global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said today.

The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said.

"India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade," said Rashesh Shah, President, FICCI.

Shah noted that by turning the mini-ministerial into a platform for 'meeting of minds', Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

"It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution," Shah said.

"Indias growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO," he added.

Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed USD 60 billion of tariffs on Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the worlds two biggest economies. In response to Trumps move, China unveiled plans today to impose higher tariffs on USD 3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, Chinas Ministry of Commerce said in a statement.

First Post |

India must lead in defusing the possibilities of a global trade war: FICCI

India should play a proactive role in defusing the emerging possibilities of a global trade war that can derail the positive outlook in the world trade, FICCI said on Friday. The industry body observed that protectionist measures by the US have raised serious concerns about a global trade war, highlighting the importance of keeping the World Trade Organisation (WTO) process intact and also making the multilateral institution stronger.

Moreover, with the WTO Director-General Roberto Azevedo raising alarm on the issue at the two-day mini-ministerial in New Delhi early this week, it is high time countries across the world think beyond retaliatory measures to counter the challenges posed by the targeting of the WTO by the US and unilateral increase in tariffs, FICCI said. “India can play a significant role in guiding this exercise to defuse the emerging possibilities of a global trade war that can derail the positive outlook in the world trade,” said Rashesh Shah, President, FICCI.
Shah noted that by turning the mini-ministerial into a platform for ‘meeting of minds', Commerce and Industry Minister Suresh Prabhu has shown that India can lead the way in bringing all countries together to find a way out and avoid fuelling of a trade war due to the US actions.

“It is important to keep the WTO process going and also making the multilateral institution stronger so that a rule-based global trade is ensured and bilateral issues have an effective platform for resolution,” Shah said. "India's growing acceptance as an important nation in facilitating constructive deliberations among the countries with diverging interests must be capitalised to strengthen the WTO," he added.

Concerns over a global trade resurfaced after US President Donald Trump yesterday imposed $60 billion of tariffs on Chinese imports to punish the country for its "unfair" seizure of American intellectual property, a move that could escalate the already tense trade relations between the world's two biggest economies. In response to Trump's move, China unveiled plans on Friday to impose higher tariffs on $3 billion worth of American goods, including pork and pipes, in retaliation to US tariffs on steel and aluminium imports from Beijing, authorities said.

The measures suspending tariff concessions will target 128 US products including pork, wines and seamless steel tubes, China's Ministry of Commerce said in a statement.

The Economic Times |

India needs to fix problems to boost exports: Debroy

The chairman of the Economic Advisory Council to Prime Minister, Bibek Debroy, has said India's net exports are not faring well during period of high growth, and that the way forward is to fix India's own problems and trade would fix itself.

"Conceptually there are three determinants of exports - demand side, supply side and the exchange rate. While demand is there as the world economy is not doing that bad, India needs to essentially improve procedures and infrastructure to improve the supply side," Debroy said on a day when the informal min-ministerial meet of the WTO Kicked off in here.

He said when there is competition between foreign and domestic firms it should be fair that GST enables a countervailing duty or export incentives. He was speaking on "The Global Trade Regime - An Indian Perspective'at the 89th annual general meeting of the India International Chamber of Commerce at FICCI.

"Unless perfect GST is in place export incentives will be contested by trading partners. It will take at least 10 years for India to settle down with GST," he said.

On India's stand at WTO, he said the only option to improve trade is to go for regional pacts until negotiations move on in WTO.

The Hindu |

'Need to bolster WTO process'

The World Trade Organisation (WTO) process needs to be strengthened and taken forward as India has a strategic interest in the functioning of the multilateral trade system, according to Commerce Minister Suresh Prabhu.

Briefing members of Federation of Indian Chambers of Commerce and Industry in a closed-door meeting on Tuesday on the outcome of WTO’s recently held Buenos Aires meeting, Mr. Prabhu said that India would host a mini-ministerial (meeting of a few WTO member nations) in February to further its position on the multilateral trade body and to pursue its interest in a fruitful manner. FICCI informed this in a statement.

In a separate meeting organised by the industry body CII, Mr. Prabhu spoke on the objective behind the mini-ministerial and stated, “if you want to make sure that WTO becomes relevant to times that are changing, then we must also incorporate into WTO some of the very emerging important issues.”

The Buenos Aires meeting ended in an impasse with the US blocking the demands of over 100 developing nations, including India and China, on food security issues. The US had also questioned the centrality of development in multilateral trade negotiations. Mr. Prabhu had earlier also said that India will be organising a meeting of some WTO members in February to get more support for food sovereignty and other issues including the ‘development agenda’ of the Doha Round talks.

Developed countries have been taking the lead in forming groups to initiate discussions on ‘new issues’ such as e-commerce, investment facilitation and proposed norms relating to small firms, while India and other developing nations are insisting that such issues should be taken up for negotiations at the multilateral-level only after resolving the ongoing Doha Round’s outstanding issues such as the ones on food security.

India to host mini-ministerial in Feb to take forward its position on multilateral trade talks

millenniumpost |

WTO must incorporate emerging issues to remain relevant: Prabhu

The WTO must incorporate emerging issues if it wants to remain relevant in the changing times, Union Minister Suresh Prabhu said on Tuesday, asserting that India will organise a "mini ministerial" meeting of the global trade body in February to help realise this objective.

The talks collapsed at last week's WTO 11th ministerial conference in Buenos Aires. The meeting ended without any declaration or substantive outcome with the US going back on its commitment to find a permanent solution to the public food stockholding issue, leaving India and other developing nations disappointed.

"We are in the next few weeks going to organise a major conclave in India wherein we want to bring in the top countries of the world. We call it the mini Ministerial for the WTO (World Trade Organization), Prabhu said.

Addressing a CII conclave, he said the idea behind the mini-ministerial was that WTO must focus on some of the very relevant issues of the world on Tuesday.

Otherwise, he said, "WTO will be a very good historical institution, which will have a very good place in some of the good regions of the world".

"But if you want to make sure that WTO becomes relevant to times that are changing, then we must also incorporate into WTO some of the very emerging important issues," he added.

Separately, at a meeting with FICCI members, he said India will host the mini-ministerial in February to further its position on the multilateral trade body and pursue its interest in a fruitful manner.

According to a FICCI statement, the minister said that the WTO process needs to be strengthened and taken forward as India has a strategic interest in the functioning of the multilateral trade system.

Prabhu emphasised on the need for India to increase its share in world trade for enhancing GDP growth and creating jobs, saying that it should set a target and work towards it.

Developed nations at the WTO have been forming groupings to prepare the ground for pushing investment facilitation, preparing rules for e-commerce, promoting gender equality and reducing subsidy on fisheries.

India has been keenly pushing agricultural issues at the WTO. It has also been raising its voice against bringing in new issues, especially those which are not directly linked to trade, on the negotiating table.

At the Services Conclave organised by industry body CII, Prabhu said India must have a clear-cut, holistic strategy to realise the true potential of its services sector, which can create a large number of jobs.

A strategy to boost the share of services in the export basket of the country is being formulated, he said.

Moreover, he said, efforts must be made so that services contribute significantly to the global trade, particularly India's exports.

Prabhu said the Commerce Ministry is working in collaboration with the EXIM Bank on a market strategy, clearly defining each market and geography with the kind of products that will be sold there.

He stressed that India must become the front office of the world in providing services globally.

He added: "It is a unique position that we enjoy on Tuesday, that we are actually the service providers. I don't want to call ourselves as some other countries wanted to described India some time ago, that we are the back office of the world.

The Pioneer |

WTO must incorporate emerging issues to remain relevant: Prabhu

The WTO must incorporate emerging issues if it wants to remain relevant in the changing times, Union Minister Suresh Prabhu said on Tuesday, asserting that India will organise a ‘mini ministerial’ meeting of the global trade body in February to help realise this objective.

The talks collapsed at last week's WTO 11th ministerial conference in Buenos Aires. The meeting ended without any declaration or substantive outcome with the US going back on its commitment to find a permanent solution to the public food stockholding issue, leaving India and other developing nations disappointed.

“We are in the next few weeks going to organise a major conclave in India wherein we want to bring in the top countries of the world. We call it the mini Ministerial for the WTO (World Trade Organization), Prabhu said.

Addressing a CII conclave, he said the idea behind the mini-ministerial was that WTO must focus on some of the very relevant issues of the world today. Otherwise, he said, “WTO will be a very good historical institution, which will have a very good place in some of the good regions of the world”.

“But if you want to make sure that WTO becomes relevant to times that are changing, then we must also incorporate into WTO some of the very emerging important issues,” he added. Separately, at a meeting with FICCI members, he said India will host the mini-ministerial in February to further its position on the multilateral trade body and pursue its interest in a fruitful manner.

According to a FICCI statement, the minister said that the WTO process needs to be strengthened and taken forward as India has a strategic interest in the functioning of the multilateral trade system. Prabhu emphasised on the need for India to increase its share in world trade for enhancing GDP growth and creating jobs, saying that it should set a target and work towards it.

Developed nations at the WTO have been forming groupings to prepare the ground for pushing investment facilitation, preparing rules for e-commerce, promoting gender equality and reducing subsidy on fisheries.

India has been keenly pushing agricultural issues at the WTO. It has also been raising its voice against bringing in new issues, especially those which are not directly linked to trade, on the negotiating table.

Focus News |

Minister Suresh Prabhu briefs FICCI members on the WTO ministerial outcome

Immediately on his return from the World Trade Organisation (WTO) ministerial conference in Buenos Aires, Commerce and Industry Minister Mr. Suresh Prabhu briefed FICCI members in a closed-door meeting today on the outcome of the ministerial and India's position on multilateral trade negotiation, and said that India will host a mini-ministerial in February to further India?s position on the multilateral trade body and pursue its interest in a fruitful manner. The minister pointed out that the WTO process needs to be strengthened and taken forward as India has a strategic interest in the functioning of the multilateral trade system. Mr. Prabhu emphasised the importance of India increasing its share in world trade in order to enhance GDP growth and create jobs, and said that the country has to decide now what should be its share of global trade in the world economy and then work towards achieving it.

Business Standard |

India concerned over pace of deciding agenda for next WTO meet

India today expressed concern over slow progress in finalising the agenda for the Nairobi ministerial meeting of WTO members in December to resolve pending issues of Doha round.

At the meeting, India wants to bring back issues related to the long-stalled Doha round including agriculture (export subsidies, cotton and fishery subsidies), intellectual property rights, market access and services.

"What is happening essentially (in the WTO) is a debate going on for setting an agenda for the ministerial meeting. The date which is...July for setting up an agenda seems to be approaching fast but we seem to be going nowhere. This is a clear indication that in the multi-lateral fora, we will continue to show being busy without producing much," Commerce Secretary Rajeev Kher today said at a FICCI event.

The next Ministerial Conference, which is the highest decision making body of the World Trade Organization, is scheduled from December 15-18 in Nairobi, Kenya.

The Doha Round of negotiations launched in 2001 have remained stalled since July 2008 due to differences between the rich and the developing nations mainly over the subsidies given to farmers.

Besides this, the members have to discuss issues which were not deliberated upon in the Bali meeting in 2013 and that include matters related with least developed countries.

WTO members are unable to finalise the agenda because of differences on the priority order of the issues at the Nairobi Ministerial meeting.

"We are at a point where WTO's mechanism has not kept pace with the need of the hour...we are also at a point where the world is going through a transformational phase and therefore it is natural that in this phase it will be very difficult for the WTO to come out with results," he said.

However, Kher added that despite the slow pace of negotiations, WTO have not lost its relevance. And it is an institution of hope for large number of countries and that cannot be undermined.

"It is important for India that it maintains its position in the WTO," he said.

Speaking on the free trade agreements, the Commerce secretary said that Indian industry still have reservations over these pacts.

"India has conventional set of FTAs and therefore the new breed of FTAs have to be much more aggressive and much more strategically and technically evolved," he said.

Chief Economic Advisor Arvind Subramanian said increasing exports would also lead to rise in imports and the country should be prepared for that.

"Trade reform is going to involve political costs domestically. It's great you are going to export, but you are also going to import a lot. There are going to be dislocation cost, political cost, economic costs. Maybe they will be transitory, hopefully, may be they will be overwhelmed by the benefits of this," Subramanian added.

The Tribune |

WTO clinches historic deal at Bali

In a landmark agreement, the World Trade Organisation (WTO) consisting of 159 member countries reached its first trade deal since its inception in 1995, marking a major victory for India as it was able to get its way on ensuring food security and minimum support price for its farmers.

The deal includes a trade facilitation agreement which aims at simplifying customs procedures and reducing transaction costs for goods and services. This pact is estimated to add $ 1 trillion to global trade and add 21 million jobs across the world.

The breakthrough at the Bali ministerial meeting of the WTO was reached after intense negotiations. At one point, given India’s strident stand on not compromising on the issue of food security, it looked like the talks would collapse.

India has ensured that countries will be allowed to provide subsidy on food crops without any threat of punitive action.

Commerce and Industry Minister Anand Sharma, who led India at the talks, described the decision as historic.for India. "India has played a major role in the revival and re-energising the Doha Round of talks. The Bali declaration is a positive step," Sharma was quoted as saying. The Food Security Act of India had cast a legal obligation on the government to assure the poor of supply of food grain and it was fighting to ensure that these obligations do not violate WTO rules.

As notified by India to the WTO, India’s support for rice and wheat is well within its 10 per cent limits on subsidy. However, in the absence of the protection that has now been agreed, there was imminent danger of breaching it in the near future.

Procurement at administered prices and the public distribution system are the main pillars of the National Food Security Act. In the absence of this decision, it is likely that India will breach its within the next few years.

The agreement today has ensured that millions of poor farmers will feel secure that the Minimum Support Price (MSP) being given by the government will not be called into question internationally and possible challenges under the WTO. This will be in place till such time a permanent solution is found by the WTO membership which alters the rules of business governing agricultural trade. According to the Indian delegation, it is for the first time in the history of WTO as an institution that an important issue relating to food security has been squarely addressed.

It is an acknowledgement of the felt need to rewrite the rules of agricultural trade and provide a balance for the developing countries.

The WTO text which has been agreed upon by the larger membership today marks a fair balance reflecting the aspirations of both the developed and developing countries. The Indian side okayed the trade facilitation agreement after seeing a balance in the agriculture package.

During the negotiations, India had remained firm and unwavering in its stand over the last three days which saw a softening of positions by key developed countries. It built a strong coalition of support with countries of Africa, Latin America and Asia. India also stood up for the cause of the Least Developed Countries (LDC).

On the trade facilitation agreement, it is felt that it will improve competitiveness of Indian industry both in domestic trade and international trade.

Industry has welcomed the trade deal reached at the Bali Ministerial Conference of the WTO. FICCI President Naina Lal Kidwai said, “We congratulate our minister for successfully protecting India's and developing countries' legitimate concerns on food security while enabling the trade facilitation advantages to come through”.

Deccan Herald |

Corporates, exporters say WTO trade pact to help Indian industry

Hailing the trade facilitation agreement reached by WTO members after hectic parleys, India Inc and exporters on Saturday said these will help developing countries like India to reduce transaction cost and improve competitiveness of domestic industry.

“The WTO Agreement on trade facilitation will make life much easier for Indian exporters since the pact will ensure uniform, transparent and efficient transactions at the customs and port operations across the world,” Chairman of engineering exporters’ body EEPC India, Anupam Shah, said, adding, “Our efficiency and transaction costs will improve by leaps and bounds, once the agreement comes into operation.”

After four days of marathon negotiations at Indonesian island city of Bali, Trade Ministers from 159 countries agreed on the Bali Ministerial Declaration, which comprises texts on trade facilitation, food security and development and LDC issues.

“While agreement on food security will ensure a fair deal for the subsistence farmers and the vulnerable sections in the developing countries, the deal on trade facilitation will improve efficiency at the international trade borders and reduce the transaction costs, particularly for the Indian exporters,” Assocham Secretary General D S Rawat said.

“We welcome the declaration on trade facilitation, which will not only boost transparency and predictability but also help in reducing transaction costs for businesses across the globe,” Deep Kapuria, who led CII’s business delegation to the WTO Conference, said.

“We are very happy with the agreement on trade facilitation that would help in reducing transaction costs, cutting red tape, improving transparency besides simplifying and streamlining customs and port procedures,” FICCI President Naina Lal Kidwai said.

In recent years, India has undertaken reforms to simplify and modernise its trade procedures. As a developing country, India will be entitled to adequate transition time for implementing the Trade Facilitation Agreement.

The Economic Times |

Bumps ahead for WTO trade deal: Member countries harden stance

A global trade deal at World Trade Organization's ministerial meeting in Bali next week faces fresh roadblocks as member countries, including India, have hardened their positions on key issues of trade facilitation and farm subsidies.

The Cabinet is likely to take a call on Thursday on India's stand at the meet.

The Doha round of global trade talks, which began in 2001, were stalled due to sharp differences between developing and developed countries due to lack of consensus on farm subsidies and tariff reduction. Several experts see the ninth ministerial round at Bali next week as the last attempt to renew the global trade agreement agenda by focusing on trade facilitation, which is estimated to increase global trade by $1 trillion.

However, countries, including India, have raised resistance to the 'transit clause', leading to breakdown of talks aimed at sealing the first global trade deal since the WTO came into existence in 1995. Several developed and developing countries are against the inclusion of electricity grids and petroleum pipelines in the definition of traffic in 'transit'. India, for instance, will have to allow any member country under this definition to use the country's infrastructure for supplying petroleum and electricity to a third country.

The trade facilitation deal, aimed at smoothening of crossborder trade by removing red tape, improving infrastructure and harmonising customs procedures has therefore hit an impasse.

"The red lines are clear which haven't been resolved at the negotiation level and will be transmitted to the ministers. We can still have a deal on food security and package for the least developed countries. However, it is the trade facilitation which may be a stumbling block," said Biswajit Dhar, director general, Research and Information System for Developing Countries. India has got its way on most demands including flexibility on issues such as expediting shipments.

The clause has been changed to include only air cargo and perishables at the shortest time possible, against expediting all shipments within three hours. But as WTO director general Roberto Azevedo warned at the pre-Bali meeting on Tuesday, "At this point in time we cannot tell the world that we have delivered. Failure in Bali will have grave consequences for the multilateral trading system."

India is also opposed to the 'peace clause' that aims to provide protection against penalties for breaching agricultural subsidy limit of 10% of the total production for four years. The riders in the clause such as stiff disclosure norms and no guarantee on a permanent solution to food security issue have met with stiff resistance in the country.

Even as the government indicated initial acceptance to the four-year peace clause, a compromise formula to the food security agenda, it hardened its stance after farmer lobbies and opposition parties voiced their resistance. India had been strongly negotiating the food security proposal of the 46 developing countries that aims to remove procurement from poor farmers to support them or to fight hunger from the WTO-prohibited subsidies.

"We want the peace clause to come with the condition that a permanent solution to the food security agenda will be found. The current draft is ambiguous on that front," a commerce department official said. The peace clause is not in India's interest, the leader of opposition in Rajya Sabha, BJP's Arun Jaitley said on Wednesday. "Our food security programmes would still be exposed during this period to punitive action under the Agreement for Subsidies and Countervailing measures. This may force India to substantially limit the food security programme immediately."

Industry lobby FICCI's president Naina Lal Kidwai, however, stressed on the need to work towards a deal. "It is important that we do not lose this opportunity to break the stalemate in Doha talks and that we are successful in building on the progress achieved so far in the areas of trade facilitation, agriculture including public stockholding for food security and development issues," Kidwai said.

Business Line |

For food security law, India may stoop to conquer at WTO

India seems ready to settle for a short-term solution to the problem surrounding its food security legislation that breaches the permissible subsidy levels set by the World Trade Organisation (WTO). The country may agree to a ‘peace clause’ which provides a temporary reprieve from penalties in the event that the subsidy level is breached.

In what will be a further softening of stance, India may also agree to the demand of developed countries for a pact to facilitate movement of goods across borders.

But Commerce Minister Anand Sharma does not see these concessions as a dilution of India’s earlier stand. It is about finding a middle ground that is acceptable to all, he said.

At a joint press conference with WTO Director-General Roberto Azevedo here on Monday, Sharma said, “You don’t do negotiations with a tight list and say this is the final list. I don’t want any ambiguity on food security. Its legitimacy has been appreciated, and the negotiators will find an acceptable solution to that.”

At the WTO, the developed countries are willing to offer a ‘peace clause’ that will allow developing nations, such as India, legal protection against action by other members for breaching food subsidy limits prescribed under the agriculture pact. This would be offered for a two/three-year period within which time the members hope to find a long-term solution to the issue.

WTO members are trying to arrive at an agreement on a small package of issues, which includes Trade Facilitation and Food Security, at the forthcoming Ministerial meeting in Bali, Indonesia.

“There is appreciation of the legitimacy of food security concerns in India and other developing countries. Work is going on intensely to find a solution, which will probably include a ‘peace clause’. Conversation for a long-term solution will happen very meaningfully after Bali,” said the WTO Director-General, who is in India to seek the country’s support for making the Ministerial a success.

Sharma said that India too favours a Trade Facilitation pact as long as it is balanced and serves the interests of both developed and developing countries.

Azevedo, who also addressed industrialists at meets organised by the CII and the FICCI, said that the Bali Ministerial was not the end of the road for the Doha Round. “It is one first step towards an agenda that we have to define for the WTO that delivers on areas of interest in developing and developed countries alike,” he said.

The Hindu |

Food subsidy issues need to be addressed: WTO

Asserting that India would soon be breaching its Aggregate Measurement of Support (AMS) commitments to WTO (World Trade Organization) due to its new food security programme, the newly-elected Director-General, Roberto Azevedo, on Monday, sought a positive solution to the issue before the Bali Ministerial to be held in December as some countries had expressed concern over the procurement and distribution of highly subsidised foodgrains.

Speaking separately at events organised by Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI), Mr. Azevedo said India had asked the WTO to work out a solution as it was keen to win legitimacy for its ambitious food security law that promised highly subsidised foodgrains to rural and urban poor. “We have agreed in Geneva on a certain issue, and are working on a ‘peace clause’ to find a permanent solution to the issue. India will soon be breaching its AMS commitments in the WTO. So, they are asking for some kind of action in Geneva that could allow those programme to continue to work unaffected till a final solution is found,’’ the WTO Director General said.

He said the Bali Ministerial meet would look at how this permanent solution would come. The Peace Clause in Article 13 of the agreement on agriculture (AOA) has been there for nine years. India is open to accepting a Peace Clause as an interim mechanism till an acceptable final solution is arrived at. India is also ready to commit that procured foodgrains would not be released for international trade and the management of public stocks would be done in a transparent manner, the official said.

The UPA II government is at present implementing the Food Security Act which entitles 82 crore people to 5 kg of foodgrains per person in a month at the rate of Rs.1-3 a kg. The country needs 62 million tonnes of foodgrains in a year to implement the law. “The initial proposal on food security, which was tabled by G-33, was immediately rejected by many countries for different reasons. However, we have made lot of progress since that point of time. From upfront rejection, we now are building environment for very constructive engagement that will try to address this issue in a positive manner,’’ Mr. Azevedo said.

Mr. Azevedo underlined the need for national governments to show flexibility to evolve a consensus on a multilateral trade package that was meaningful and doable.

“Time is running out, and it is imperative that Trade Ministers actively engage with one another in the weeks ahead to find a common ground, failing which plurilateral, multilateral and bilateral agreements will proliferate and many countries will be denied the benefits of a rule-based approach to trade liberalisation. The markets will then open on non-MFN basis, and the ticket to admission into these agreements will be far more expensive than a WTO-led multilateral trading system,’’ he added.

The Statesman |

Azevedo wants govts to show flexibility

Even as negotiations are on in Geneva on the draft agreements to be presented to trade ministers of World Trade Organisation (WTO) member nations, the Director-General of WTO, Mr Roberto Azevêdo, today underlined the need for national governments to show flexibility and reasonability to evolve a consensus on a multilateral trade package that is "meaningful and doable".

Addressing a seminar on "WTO, Multilateral Trading System and Bali Ministerial: Where Do We Stand & The Way Forward" organised by Ficci and Centre for WTO Studies, Mr Azevêdo said time is running out and it is imperative that trade ministers actively engage with one another in the weeks ahead to find a common ground, failing which multilateral and bilateral agreements will proliferate and many countries will be denied of the benefits of a rule-based approach to trade liberalisation.

“The markets will then open on non-MFN basis and the ticket to admission into these agreements will be far more expensive than a WTO-led multilateral trading system,” he said.

“Although Bali is a priority, it is not the end of the road. We are talking about taking the first step. At Bali, what we want is a long-term strategy,” he said.

The Financial Express |

Fineprint on food security law must for pact at WTO

India will have to furnish details about its ambitious food subsidy programme and how it plans to balance it with the export of foodgrains if it wants an agreement in the Bali ministerial in December.

According to officials, developed countries have sought details about the National Food Security Ordinance and its impact on India’s stock requirement even as the French think-tank CIRAD has favoured India and argued for the need to correct WTO rules for public stocks else it will lead to unfairness and bad incentives.

“It should not be a problem for India to give these details as the agreement will be based on these. The developed countries want to know the modalities of the scheme and if it will impact exports and how the balance between the piled-up stock, exports and subsidies is to be maintained,” said an official.

India on its part said that some the subsidies that are given as part of the procurement for public stockholding from poor and marginal farmers should not be regarded as a ‘prohibited subsidy’ or ‘amber box’ subsidy by the WTO. Presently, these are prohibited under WTO norms.

In WTO terminology, subsidies are identified by “boxes” that are given the colours of traffic lights: green (permitted), amber (slow down or to be reduced) and red (forbidden).

“Ironically, the US’ food stamp programme, which is pegged at $60-70 billion every year, is already in the WTO green box. The current rules are unfair as they say that India can’t continue with its minimum support programme and they go against India’s interest,” said Abhijit Das, head and professor, centre for WTO Studies, Indian Institute of Foreign Trade.

The issue is likely to be raised by commerce and industry minister Anand Sharma with director-general of WTO Roberto Azevêdo on the latter’s maiden visit on October 7. Azevêdo is coming to garner support to get an agreement on three critical issues of the Doha Development Agenda (DDA) — trade facilitation, agriculture and development/LDC issues.

This is Azevêdo’s first visit to India since he took over as WTO DG from Pascal Lamy in early September. Since the ninth WTO ministerial conference in Bali is just eight weeks away, the WTO DG’s visit is significant and crucial given India’s important role in the multilateral trade negotiations.

On September 30, Azevêdo told WTO ambassadors at the Trade Negotiations Committee meeting that: “Political engagement of capitals is becoming increasingly critical. I am also asking your ministers to consider the bigger picture – the fate of our negotiating arm and with it, the DDA. But more importantly, as I have repeatedly stressed, at stake is the credibility of the multilateral trading system itself”.

On his visit, besides meeting Sharma, the DG will also interact with industry chambers.

FICCI and Centre for WTO Studies are jointly organising a seminar on ‘WTO, Multilateral Trading System and Bali Ministerial: Where Do We Stand & The Way Forward’.

WTO members initiated negotiations on Trade Facilitation (TF) in 2004. The ongoing WTO negotiations on TF seek to develop a set of multilateral trade rules that aim to simplify, modernise and harmonise trade procedures with a view to ensuring smooth movement of import, export and transit goods across the international borders.

“The developed countries are collectively trying to clean up the proposals of their interest, while maintaining frivolous objections to the proposals tabled by developing countries. They are reluctant to accept the trade facilitation proposals tabled by developing countries and LDCs,” added a commerce ministry official.

For instance, they want India’s proposal on Customs Cooperation to be accepted on a ‘best endeavour’ basis, while their proposals are to be accepted by developing countries on a binding and justiciable basis,” said a commerce ministry official.

India, along with other emerging and developing countries are against a deal on trade facilitation, which is being pushed by rich countries that seeks to cut transaction cost along international borders for smoother flows of goods, until and unless they agree to conclude the discussion on the food security proposal.

Business Standard |

WTO chief to meet Sharma today

New World Trade Organization (WTO) chief Roberto Azevedo will meet Commerce and Industry Minister Anand Sharma on Monday to discuss issues such as trade facilitation pact ahead of the global trade body's meet in Bali, sources said. Azevedo will also meet members of Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry.

The Statesman |

WTO chief, Anand Sharma to discuss trade facilitation pact

New WTO chief Roberto Azevedo will meet Union commerce and industry minister Anand Sharma tomorrow to discuss issues such as trade facilitation pact ahead of the global trade body's meet in Bali, sources said.

Mr Azevedo will also meet members of industry body CII and FICCI.

“The new WTO director-general and Mr Sharma will discuss issues such as trade facilitation agreement (TFA), food security and a package for least developed countries,” a senior official in the commerce ministry said.

India has said that it would proceed on any agenda of Doha Round only when developed countries, including the USA, agree to a deal on food subsidies.

The ninth WTO Ministerial Conference will be held in Bali from 3-6 December. The Ministerial Conference is the highest decision-making body of the 158-member WTO which meets at least once every two years.

During his maiden visit here, Mr Azevedo will apprise Indian industry of the state of play in the ongoing negotiations to clinch a global trade deal.

Mr Azevedo took over as WTO DG from Mr Pascal Lamy in September.

On the other hand, developed countries want India and other developing economies to agree on trade facilitation agreement (TFA).

So far under the Doha round of global trade talks, which started in November 2001, TFA has emerged to be the only such area where there is some hope of a consensus.

The TFA aims to reduce red tape on international borders and enhance customs cooperation leading to smoother flow of consignments and significantly reduce transaction cost of exporters.

On food security issue, a French think-tank CIRAD has advocated to correct WTO rules for public stocks.

Business Standard |

Developed nations want emerging economies to take more responsibilities: Harsha Vardhana Singh

Developed countries, especially the US, are seeking more market opening commitments from emerging economies like China and India, something that has stalled the Doha round of global trade talks under the World Trade Organization (WTO). In an interview with Nayanima Basu, on the sidelines of a Ficci seminar, Harsha Vardhana Singh, deputy director general, WTO, said he was hopeful of the issue getting solved by 2014, during the next minister-level meeting. Edited excerpts:

You said in your address to Ficci today the Doha round of talks was in a stalemate, as the US wanted more obligations from countries like China and India. Could you elaborate on this?

It is not just the US. The developed world feels, in which the US is a prominent part, emerging economies should take more responsibilities. So, when you look at it from the emerging economies’ angle, these feel the level of poverty to be addressed and the development initiatives that are needed in their respective countries, it would not be reasonable for others to seek substantially higher levels of obligations than what these are offering and there is a gap in the perception.

Do you see this gap closing anytime soon during the upcoming ministerial meeting in 2014 and 2015, by which time you said you were hopeful of the Doha talks coming to a conclusion?

I hope so. But we need to see how the global system develops, how much of a political sensitivity, for reaching conclusions in a multilateral system, is of use and is beneficial to all of us. Right now, we are seeing market-restricting measures, which shows an increasing emphasis on domestic concerns without adequate recognition to the positive role played by a multilateral framework in this context. And, as I said, this multilateral agreement under WTO is important to address major problems today and is important for the future, too.

Now that the US is heading for another Presidential election, how difficult will it be to bring countries back on the negotiating table and complete the Doha round in a serious and credible manner?

They are there. There is seriousness expressed. The fact that progress is getting achieved in some areas shows the members’ seriousness. But there are other issues to be addressed. Of course, a period before the election makes it somewhat politically uncertain on exactly the position that country will be taking. But, yes, there are discussions and progress. However, it is not spreading across the board.

How is the WTO viewing the recent spate of disputes taking place between the US, and India and China? Is it a fallout of what is happening at the Doha round of talks?

WTO has a credible method of readdressing these sorts of disputes, which reduces tensions. Bringing disputes to WTO are a normal part of the system. It is not as if we have got extremely high-level of disputes which have suddenly peaked. It is not that. These are normal ups and downs. There are different factors that give rise to such disputes. The important part is that there is a disciplined mechanism to settle these and avoid tensions.

Is there an attempt to bring in new issues like climate change clandestinely into the Doha Development Agenda, and do away with the older mandate?

Well, whatever is discussed in the negotiations is privy to those parties and I do not sit in those meetings. But at present, basically the discussion is on getting whatever we can or whatever the members can from the Doha mandate, as it exists and to the extent if there is any discussion of any type would be on a different platform. But within the Doha round the focus right now is to try and see whatever can be achieved in whichever sequence. The focus till now is that, but of course members keep discussing other issues which I am not privy to.

What is the progress on some of the main sticking points of the Doha talks like, reduction in agricultural subsidies and cotton?

We have moved a lot on domestic support for agriculture. But it gets linked with the single-undertaking. On cotton discussions have been going on. Last month the Cotton-4 ministers had visited US and it is now linked with the US’ Farm Bill. In my understanding, to the extent market access issues are addressed, we should be reaching a conclusion in these other aspects. So, it is mainly the market access.

What is WTO doing in this era of increasing protectionism stance being taken by countries to address domestic concerns in the face of a financial crisis?

Three per cent of the world trade today depends on the restrictive measures taken. Concerns are being raised at the highest level in the WTO. Countries are taking note of this and they are taking a look at the factual basis and trying to see how it relates to coverage of various kinds of restraint. Countries are taking these market restrictive measures without looking at the overall perspective. So, they need to analyse the cumulative effect of this and should they be more careful.

The Pioneer |

‘WTO members should agree to scale down global trade pact'

The 155-member countries of WTO should agree to a scaled down version of the much delayed global trade pact due to continuing differences between the developed and developing nations, a top official suggested on Thursday.

"People have realised that it is not possible to have a single undertaking agreement on Doha Round currently, that is what ministers have agreed...," Harsh V Singh, WTO Deputy Director told a FICCI meet here.

It may be recalled the Doha Round of negotiations for a global trade pact launched in 2001 could not be concluded because of clash of interest between the rich countries and developing nations on issues like agriculture and market opening.

According to Singh, the emerging economies do not agree with what other members expect out of them.

"Over time, we have to see how the gap is closed and to that extent we can even have this in different aspects of the Doha Round coming in partial conclusions.

Business Line |

Doha Round nowhere near conclusion, says WTO official

Member countries are not yet close to resolving their differences and concluding the over-a-decade-long Doha Round negotiations for a global trade deal, a top World Trade Organisation (WTO) official has said.

Efforts to close the gap are progressing only ‘bit-by-bit’, the WTO Deputy Director-General, Dr Harsha V. Singh, told reporters on Wednesday on the sidelines of a FICCI event. He said a pick up in the global economy could be conducive for further progress in ‘larger bits’.

Asked about a new deadline for the conclusion of the Round, Dr Singh said there would be a Ministerial meeting next year to review the progress. As agreed by member countries, there would be a Ministerial meeting every two years, which means the next one would be in 2015, he added.

Earlier, Dr Singh said “hopefully after the forthcoming US elections, the member countries would be able to address several issues more satisfactorily”. He also cautioned that increasing protectionist measures by countries, as shown by a recent WTO report, were affecting world trade.

On the stalemate, Dr Singh said the US had been insisting that economies such as China and India that have recorded huge growth should be ready to shoulder larger obligations (opening their markets).

However, China and India felt that though they had been growing, there was still a large share of population that was poor and needed a safety net. Therefore, these countries felt it was not fair to ask them to take additional responsibilities at this point, he said.

The US and the European Union have been asking emerging market economies to commit to greater reduction in tariffs of industrial products, while developing countries want the rich nations to drastically reduce their ‘trade distorting’ agricultural subsidies.

Noting that many countries were entering into free trade agreements, Dr Singh said they would soon realise the need for harmonisation of standards and find that a multilateral agreement under WTO was best suited for them.

Business Standard |

India, Brazil set trade target of $15 bn by 2015

India today sought investments from Brazil, mainly in the infrastructure sector for which it needs $1 trillion over the next five years, as the two countries set bilateral trade target of $15 billion by 2015.

Commerce and Industry Minister Anand Sharma, on a 4-day visit to Brazil, said businessmen of both the countries can cooperate in sectors like agriculture, textiles, IT, infrastructure and pharmaceuticals.

"Huge opportunities are available in both the countries. Currently the bilateral trade is at $10 billion. Both the sides have fixed the target of $15 billion by 2015. Trade is increasing but huge potential is there to further boost it," Sharma said here at a function.

He sought investments from Brazil in setting up of the National Manufacturing and Investment Zones (NMIZs).

The government is taking several steps to increase the share of the manufacturing sector in the GDP to at least 25% by 2020 from 16 per cent at present. For this, a new National Manufacturing Policy (NMP) was announced recently, which envisages setting up of NMIZs.

They will be mega industrial zones with world-class supporting infrastructure. The government is offering a host of incentives and a liberalised labour and environment norms to promote these zones.

Sharma, who is leading a FICCI business delegation here, said that entrepreneurs of India and Barzil can also come together in other areas of infrastructure like ports, airports and railways.

"India is expected to absorb about $1 trillion investments in the infrastructure sector in the next five years. Brazilian companies should participate in it," he said.

Besides, industry chambers, the minister met his Brazilian counterpart Fernando Pimentel in Brasilia and discussed ways to increase economic cooperation.

FICCI President R V Kanoria said education is one of the important sectors for both the countries for increasing engagement.

"Several Indian companies can help in this sector. We have expertise in distant education field. Our present trade is concentrated in oil and its by-products. The potential between the two countries allows us to expand and diversify our trade," Kanoria added.

At present, few Indian companies like Renuka Sugars are operating in Brazil, while some Brazilian firms are operating in India in sectors such as biofuels.

Brazilian industry also sought investments from India in infrastructure sector in the wake of Olympics game being hosted by Brazil in 2016.

Business Standard |

No WTO violation by issuing licence for Nexavar: Sharma

Commerce and Industry Minister Anand Sharma today said India has not violated any provision of multi-lateral trade agreement by issuing compulsory licence (CL) for patented anti-cancer drug — Nexavar — to be produced and sold at a much cheaper cost in the country.

"We have not violated of any WTO agreement...This (invoking CL) is very much in conformity with the international agreement under the WTO," Sharma said here while addressing industry leaders of pharmaceutical sectors.

Sharma is leading a FICCI business delegation, mainly consisting of players from pharmaceuticals industry, to Brazil.

In March, Hyderabad-based Natco Pharma was allowed to manufacture and sell cancer-treatment drug Nexavar at a price over 30 times lower than charged by patent-holder Bayer Corporation, under compulsory licensing (CL).

The German firm has already filed an appeal against the Indian Patents Office's order with the Intellectual Property Appellate Board.

As per the WTO agreement, a CL can be invoked by a government, allowing someone else to produce a patented product or process without the consent of the patent owner in public interest.

India's intellectual property rights regime is fully TRIPS-compliant, the minister said, adding that the developed nations have invoked CL more than developing economies.

"In case of India, this was the process of adjudication. It was not an executive invocation," he added.

He said around the same time when India had issued the CL for anti-cancer drug, the US government, through an executive order, placed an order with Indian company for anti-cancer drug.

Natco was allowed to sell the drug at a price not exceeding Rs 8,880 for a pack of 120 tablets required for a month's treatment compared to a whopping Rs 2.80 lakh a month charged by Bayer for its patented Nexavar drug.

Seeking greater cooperation in pharmaceutical sector, the minister informed the industry leaders that India is the third largest medicines producer in the world and produces 20% of world's generic drugs.

According to sources, the minister took up several problems of Indian pharmaceutical sector during his meeting with Brazilian Minister of Development, Industry and Foreign Trade Fernando Pimentel.

"The minister raised the issue of requirement of multiple testing despite having approvals from agencies like USFDA, delayed registration of products in Brazil, delay in port clearances and fast tracking of issuing of import licenses," sources said.

On the occasion, industry leaders too raised their problems and concerns which they are facing here.

Business Line |

India, Brazil set trade target of $15 bn by 2015

India today sought investments from Brazil, mainly in the infrastructure sector for which it needs $1 trillion over the next five years, as the two countries set bilateral trade target of $15 billion by 2015.

The Commerce and Industry Minister Mr Anand Sharma, on a 4-day visit to Brazil, said businessmen of both the countries can cooperate in sectors like agriculture, textiles, IT, infrastructure and pharmaceuticals.

“Huge opportunities are available in both the countries. Currently the bilateral trade is at $10 billion. Both the sides have fixed the target of $15 billion by 2015. Trade is increasing but huge potential is there to further boost it,” Mr Sharma said here at a function.

He sought investments from Brazil in setting up of the National Manufacturing and Investment Zones (NMIZs).

The government is taking several steps to increase the share of the manufacturing sector in the GDP to at least 25 per cent by 2020 from 16 per cent at present. For this, a new National Manufacturing Policy (NMP) was announced recently, which envisages setting up of NMIZs.

They will be mega industrial zones with world-class supporting infrastructure. The government is offering a host of incentives and a liberalised labour and environment norms to promote these zones.

Mr Sharma, who is leading a FICCI business delegation here, said that entrepreneurs of India and Barzil can also come together in other areas of infrastructure like ports, airports and railways.

“India is expected to absorb about $1 trillion investments in the infrastructure sector in the next five years. Brazilian companies should participate in it,” he said.

Besides, industry chambers, the minister met his Brazilian counterpart Mr Fernando Pimentel in Brasilia and discussed ways to increase economic cooperation.

The FICCI President Mr R V Kanoria said education is one of the important sectors for both the countries for increasing engagement.

“Several Indian companies can help in this sector. We have expertise in distant education field. Our present trade is concentrated in oil and its by-products. The potential between the two countries allows us to expand and diversify our trade,” Mr Kanoria added.

At present, few Indian companies like Renuka Sugars are operating in Brazil, while some Brazilian firms are operating in India in sectors such as biofuels.

Brazilian industry also sought investments from India in infrastructure sector in the wake of Olympics game being hosted by Brazil in 2016.

Moneycontrol.com |

India, Brazil set trade target of $15 bn by 2015

India today sought investments from Brazil, mainly in the infrastructure sector for which it needs USD 1 trillion over the next five years, as the two countries set bilateral trade target of USD 15 billion by 2015.

Commerce and Industry Minister Anand Sharma, on a 4-day visit to Brazil, said businessmen of both the countries can cooperate in sectors like agriculture, textiles, IT, infrastructure and pharmaceuticals.

"Huge opportunities are available in both the countries.Currently the bilateral trade is at USD 10 billion. Both the sides have fixed the target of USD 15 billion by 2015. Trade is increasing but huge potential is there to further boost it," Sharma said here at a function.

He sought investments from Brazil in setting up of the National Manufacturing and Investment Zones (NMIZs).

The government is taking several steps to increase the share of the manufacturing sector in the GDP to at least 25% by 2020 from 16% at present. For this, a new National Manufacturing Policy (NMP) was announced recently, which envisages setting up of NMIZs.

They will be mega industrial zones with world-class supporting infrastructure. The government is offering a host of incentives and a liberalised labour and environment norms to promote these zones.

Sharma, who is leading a FICCI business delegation here, said that entrepreneurs of India and Barzil can also come together in other areas of infrastructure like ports, airports and railways.

"India is expected to absorb about USD 1 trillion investments in the infrastructure sector in the next five years. Brazilian companies should participate in it," he said.

Besides, industry chambers, the minister met his Brazilian counterpart Fernando Pimentel in Brasilia and discussed ways to increase economic cooperation.

FICCI President R V Kanoria said education is one of the important sectors for both the countries for increasing engagement.

"Several Indian companies can help in this sector. We have expertise in distant education field. Our present trade is concentrated in oil and its by-products. The potential between the two countries allows us to expand and diversify our trade," Kanoria added.

At present, few Indian companies like Renuka Sugars are operating in Brazil, while some Brazilian firms are operating in India in sectors such as biofuels.

Brazilian industry also sought investments from India in infrastructure sector in the wake of Olympics game being hosted by Brazil in 2016.

Indian Express |

‘Lucky if Doha talks conclude by 2014’

India today said it will take at least two more years for completion of the Doha Round of talks on a global trade deal, as it will take time for things to settle down in the US after elections are held next year.

“The US goes into the election mode (in 2012) and then (we can) look at 2013, as by the time the (US) administration comes into office... thereafter putting people in place and getting negotiations restarted, if by the end of 2013, (we) have a deal, you will be pretty lucky. My guess is you are looking closer to 2014,” commerce secretary Rahul Khullar said at a FICCI function here.

Last week, the World Trade Organization (WTO) ended its crucial biennial Ministerial Conference without making any headway on the way forward for the Doha Round of talks.

The Doha Round, which began in 2001, has missed several deadlines due to the entrenched positions taken by developed and developing nations on issues like tariffs on agricultural goods and free market access.

He said until the developed countries gets out of the global economic crisis, conclusion of the round is not possible. “It was pretty clear from mid-2009 that until the great recession played itself out, there was going to be no appetite in the developed world for taking on any trade agreement... because they are completely overtaken by the domestic fallout of the disaster that are happening to their economics,” he said. Due to falling economic growth and rising unemployment in the developed countries, “Nobody cares what is happening in Geneva or Doha,” he added.

The Financial Express |

Doha Round may conclude by 2014: Khullar

Commerce secretary Rahul Khullar said on Tuesday that it will take at least two more years for completion of the Doha Round. He said consensus on the WTO deal may only be reached by the end of 2013 or early 2014 after the US Presidential elections. “My guess is you are looking closer to 2014 for a consensus,” Khullar said at a FICCI function.

Last week, the WTO ended its crucial biennial ministerial conference without making any headway on the way forward for the Doha Round of talks. The Doha Round, which began in 2001, has missed several deadlines due to the entrenched positions taken by developed and developing nations on issues like tariffs on agricultural goods and free market access.

Khullar added that the economic crisis in the developed countries is contributing to a delay in getting a conclusion.

The Hindu |

No end in sight for Doha Round of talks

Stating that he did not see an end to the decade-old Doha Round of negotiations for a global trade deal, Commerce Secretary Rahul Khullar on Tuesday said he did not see the deal materialising before 2014.

Blaming the developed nations for not doing enough for taking forward the concessions package for the least developed countries (LDCs), Mr. Khullar said that he envisaged a long drawn battle of disputes between various countries due to loopholes in WTO rules and warned that India should brace up for contesting these disputes.

Speaking at the function organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) on WTO issue, Mr. Khullar said it would take at least two more years for the negotiators to reach a settlement and cited various reasons for his view point.

“The U.S. goes into the election mode in 2012 and then we can look at 2013. By the time the US Administration comes into office and thereafter putting people in place and getting negotiations restarted. If by the end of 2013, we have a deal, you will be pretty damn lucky. My guess is you are looking closer to 2014,” he said.

The World Trade Organisation (WTO) biennial Ministerial Conference ended last week without making any headway forward or direction for the Doha Round of talks.

The Commerce Secretary said until the developed countries got out of the global economic crisis, conclusion of the round was not possible. “It was pretty clear from mid-2009 that until the great recession played itself out, there was going to be no appetite in the developed world for taking on any trade agreement because they are completely overtaken by the domestic fallout of the disaster that are happening to their economics. Due to falling economic growth and rising unemployment in the developed countries, nobody cares what is happening in Geneva or Doha,” he said.

In fact, what has happened during the last few years is that due to the deadlock in the Doha Round, a large number of countries, including India, have preferred to take the free trade agreement (FTA) or bilateral trade agreement route for enhancing economic engagement. “Issues that would come to the forefront in the next 3-5 years include energy and food security as well as labour and environmental standards,” he added.

Referring to the issue of Doha Round having failed to finalise a package for LDCs, Mr. Khullar said the developed world had a lot to answer for that and not the developing nations.

“When in a community of 157 members, you cannot even agree to help those at the bottom, there is something really wrong. We did our bit. But ask yourself how many of you developed countries have done it transparently tariff line by tariff line, apart from empty words,” he said.

Business Line |

Doha Round may be completed only by 2014: Khullar

The decade-old Doha Round negotiations for greater liberalisation of world trade are likely to be concluded only closer to 2014, the Commerce Secretary, Dr Rahul Khullar, said on Tuesday. He blamed the developed countries for not taking forward the proposal for a package of duty concessions for the benefit of the Least Developed Countries (LDCs).

Speaking at a FICCI function, Dr Khullar predicted that the near future would see new challenges including many trade disputes due to the grey areas in the WTO rules and said India needs to be prepared for such disputes.

As the Doha Round is deadlocked there would soon be a surge in bilateral trade pacts, he said, adding that other issues that would come to the forefront in the next 3 to 5 years include energy and food security as well as labour and environmental standards.

On the reasons for the delay in the completion of Doha Round talks, the Commerce Secretary said, “In 2012, the US goes into the election mode, and then (we can) look at 2013, as by the time the (new US) administration comes into office... thereafter putting people in place and getting negotiations restarted if by the end of 2013 we have a deal you will be pretty damn lucky. My guess is you are looking closer to 2014 (for the conclusion of the Doha Round talks).”

Despite efforts to revive the Doha Round “some countries are blocking, evading and just not willing to engage,” he said.

He added, “It was pretty clear from mid-2009 that until the great recession played itself out, there was going to be no appetite in the developed world for taking on any trade agreement because they are completely overtaken by the domestic fallout of the disaster that is happening to their economies including falling growth rates and rising unemployment.”

The World Trade Organisation’s Ministerial Conference held last week could not break the Doha Round impasse. The Round, which had started in 2001, has already missed many deadlines due to the persisting differences between the developed and developing countries on the extent of liberalisation of world trade.

On the Doha Round failing to come out with a package for LDCs, Dr Khullar said: “the developed world has a lot to answer for that and not the developing nations. When in a comity of 157 members, you cannot even agree to help those at the bottom of the pyramid, there is something really wrong.”

Pointing out that India has already extended a duty free tariff preference scheme for all LDCs, he said, “We did our bit. But ask yourself how many of you (developed countries) have done it transparently tariff line by tariff line, apart from empty words.”

He also said there will soon be huge pressure on the developing nations including India to cut tariffs.

Business Standard |

Lucky if Doha talks concluded by 2014: Khullar

India today said it will take at least two more years for completion of the Doha Round of talks on a global trade deal, as it will take time for things to settle down in the US after elections are held next year.

"The US goes into the election mode (in 2012) and then (we can) look at 2013, as by the time the (US) administration comes into office... Thereafter putting people in place and getting negotiations restarted, if by the end of 2013, (we) have a deal, you will be pretty damn lucky. My guess is you are looking closer to 2014," Commerce Secretary Rahul Khullar said at a FICCI function here.

Last week, the World Trade Organisation (WTO) ended its crucial biennial Ministerial Conference without making any headway on the way forward for the Doha Round of talks.

The Doha Round, which began in 2001, has missed several deadlines due to the entrenched positions taken by developed and developing nations on issues like tariffs on agricultural goods and free market access.

He said until the developed countries gets out of the global economic crisis, conclusion of the round is not possible.

"It was pretty clear from mid-2009 that until the great recession played itself out, there was going to be no appetite in the developed world for taking on any trade agreement... because they are completely overtaken by the domestic fallout of the disaster that are happening to their economics," he said.

Due to falling economic growth and rising unemployment in the developed countries, "Nobody cares what is happening in Geneva or Doha," he added.

Business Standard |

December ministerial may decide fate of Doha round talks

WTO summit will see whether decade-long negotiations would go forward or be brought to an end.

Next week’s meeting of trade ministers from all the 157 member-countries of the World Trade Organisation (WTO) is an important one. This year is the tenth anniversary of the Doha Round of global trade talks. And, G-20 leaders have (during the November 3-4 Cannes summit) already hinted the Round should be quashed.

Thus, it remains to be seen whether the December 15-17 ministerial at the WTO headquarters in Geneva would finally sound the end for the Round or whether a map ahead is charted.

Trade experts believe killing the round would be detrimental for countries like India, China and Brazil, which still have some gains to achieve. Quashing the round would also deal a big blow to the least developed countries, which would benefit more from a multilateral trade agreement that would help them export more by gaining access into richer markets.

According to WTO director-general Pascal Lamy, the coming ministerial would act as a platform where every member would pledge achieving “real progress” by 2012. Lamy, during his report on the Doha Round to the WTO’s General Council, said the meet should have delegates ready to show political will in breaking the impasse in talks.

However, the latest G20 summit in France saw leaders clarifying that the current round of global trade talks that started in Doha in 2001 “cannot continue using current methods”, as these had “failed to bring the Doha cycle to a conclusion over the last 10 years”. They are, they said, ready to give it a new approach to strengthen the multilateral trading system and make progress in the areas “of interest to the poorest countries”, according to a communiqué on trade issued at the end of the summit.

The document adds that the G20 would be launching work on new regulations regarding the questions raised by the crisis. Also, these would go beyond what was mandated in the Doha Development Agenda.

Abhijit Das of the Indian Institute of Foreign Trade (IIFT) says only WTO can address and resolve some of the core concerns of emerging economies, including reduction in developed country farm subsidies. “It would be in the interest of the emerging economies to preserve the primacy of WTO,” he said.

Das, who heads the Centre for WTO Studies in the IIFT, says the G20 leaders’ statement should be seen as a strong push to negotiators for being more constructive in concluding the Doha Round.

Officials in the ministry of commerce and industry say the ministerial will see countries trying to work out some sort of a beneficial package for poor countries. In April, the WTO had circulated a set of negotiating texts on all the areas, which was denounced by the developing countries. Hence, the negotiations had been taking place on the basis of the texts circulated in 2008, to US resistance.

The Doha talks, says a senior official from the ministry who is involved in the negotiations, can come to a meaningful conclusion only when countries start scaling back their ambitions and adhere to only what was agreed to in 2001, that had development as the core objective for poorer countries. “For God’s sake, it was a development round — and not where countries would indulge their mercantilist ambitions,” he told Business Standard .

Now, as the US is heading for yet another presidential election, in 2012, Doha will, doubtless, remain on the back-burner for some time.

“Any failure of the multilateral process will not only impact developing countries, but hurt the credibility of an institution, the WTO,” says T S Vishwanath, principal adviser, trade policy, at APJ-SLG Law Offices. Lamy, who had been spearheading the talks as the DG of WTO for the last six years, had been asserting for the last couple of years that 80 per cent of the job is done.

The negotiating process, according to Biswajit Dhar, director-general of RIS, the New Delhi-based think tank, says the Doha talks have became hostage to dominant interest groups in the major economies.

As for the Indian industry, it has taken a wait-and-watch approach. FICCI secretary-general Rajiv Kumar says “The next task will be to draw the work plan for 2012 towards the conclusion of the Doha Round, with a balanced outcome in accordance with its development-led mandate.”

The Round has been the longest of all multilateral trade negotiations. Prior to this, the Uruguay Round went on for eight years under the General Agreement on Tariffs and Trade.

The Economic Times |

Swift political consensus key to Doha deal: Lamy

A quick political consensus on the key issues is crucial if the Doha round of the global trade pact for opening up markets in goods and services is to be sealed by the end of 2011, the new deadline set at the recent G20 meet, World Trade Organisation director general Pascal Lamy has said. We need political consensus (on the deal) in the next six months as a lot of technical work needs to be done after that,” Lamy said addressing a FICCI conference on a multilateral approach to today’s challenges .’’

He warned that if the Doha round were to fail, it would weaken the only institution that governs the rules of world trade.

The Doha round of multilateral trade talks that began in November 2001 has missed several deadlines due to differences between developed and developing countries on the extent of market access the latter need to give and protection measures they are to be allowed to shield poor farmers and vulnerable industry.

The prospects of the round have come under a cloud in the backdrop of major countries resorting to protectionism to help domestic industry deal with the economic slowdown.

“It is in these times that proponents of unilateralist, populist policies which discriminate against foreign workers and goods become more vocal,” Mr Lamy said.

But the lessons of history show us that it is coordinated action through international cooperation that maximises benefits for citizens of the world, he said.

On a more optimistic note, Mr Lamy said that the recent G20 and APEC leaders’ summits in Seoul and Yokohama recognised the importance of open trade for global recovery.

They sent strong signals of political resolve to conclude the Doha development round by next year.

“We know that in negotiations all members keep some cards in their pocket. Now we have to see if they agree that time has come to empty their pockets,” he said.

Stressing on the benefits of global trade, Mr Lamy cited a recent joint report prepared by the OECD, the ILO, the World Bank and the WTO that cites cross-country evidence suggesting that a 10% increase in total trade openness is found to reduce unemployment by about 1%.

The Doha round, once concluded, is expected to result in increased trade in goods and services worth $282 billion annually, according to the WTO.

The Financial Express |

Doha Round failure will be a big blow: Lamy

In a strong statement, WTO director general Pascal Lamy on Friday said if the Doha round in the WTO fails, it would be a big blow to the global trade body that oversees multiple trade related matters.. “It (failure of Doha Round) would weaken the only institution which governs the rules of world trade and has the ability to adjudicate in the event of disputes between countries,” Lamy said at a conference on WTO organised by FICCI in New Delhi.

On a more optimistic note however, Lamy added that at the recently-concluded G20 summit in Seoul, world leaders had given “strong signals of political” resolve to break the logjam. “They sent strong signals of political resolve to conclude the Doha Development Round. Leaders recognised the 2011 window of opportunity to achieve this goal,” he said.

Lamy also acknowledged the contribution of Prime Minister Manmohan Singh and commerce minister Anand Sharma for re-invigorating the dialogue process. In September 2009, India hosted a mini-ministerial in the capital to re-start the talks on the resolving the Doha round. “WTO members are now working to translate this political will into the negotiations in Geneva...This process must now intensify in order to “walk the talk.”

Lashing out against protectionist measures, he said that such measures were counter productive to trade and any resolution for the coming out of the slowdown. “Addressing them through trade restricting measures will not work. Worse, it will trigger tit-for-tat protectionism,” Lamy said. He explained that economic crises do create problems at home and give rise to proponents of “unilateralist” and “populist” measures thereby discriminating against foreign workers.

“Some may call us naïve, or even idealists. But the lessons of history are there: they show us that it is coordinated action through international cooperation that maximises benefits for citizens of the world,” he said.

Commerce secretary Rahul Khullar said that over the last few years, there was very little progress at the WTO in terms of a breakthrough. He said that it was "time to call a spade a spade." Lamy also called upon commerce minister Anand Sharma later in the day.

The Economic Times |

India seeks observer status at WTO govt procurement pact

India has formally sought ‘observer status’ in the on-going discussions between a handful of countries such as the US, EU, South Korea and Japan at the World Trade Organisation (WTO) on opening up government supply contracts to foreign suppliers.

This will allow India to closely watch the negotiations without any obligation to open its government purchase of goods and services to foreign suppliers, helping it gain firsthand knowledge of the procurement practices of other countries.

This will help Indian officials bargain better in its on-going bilateral trade negotiations with countries such as Japan and EU. Countries including Japan, US and the UK are keen to see India open up government procurement worth $80 billion every year and are putting pressure to include it in the agenda of bilateral trade agreements being negotiated with India.

India does not want to take any immediate steps for opening up the sector, but only understand how the process works, a government official, who did not wish to be named, told ET.

“A formal request for gaining observer status in the plurilateral negotiations on the government procurement agreement (GPA) has been placed by India to the WTO committee on government procurement which will be considered in its next meeting,” the official said. Joining the GPA negotiations as an ‘observer’ is a smart strategy to better understand the procurement practices of GPA member countries, believes Manab Majumdar, assistant secretary general, FICCI.

Worldwide public procurement market of goods and services is estimated between $1.5 and $1.8 trillion. “Being an observer does not imply that we are or shall be party to the agreement per se, and have to undertake the obligation of opening up our government contracts to foreign firms,” Majumdar added.

The GPA negotiations at the WTO involves only 14 countries at the moment. Once an agreement is reached between them, the liberalised government procurement regime will be applicable only between the participating members. This is an exception, as the rest of the negotiations at the WTO in the areas of goods and services is taking place on a multilateral basis which means that the opening up of markets by a particular country would be for all WTO member countries.

The Financial Express |

WTO ministerial meet likely by Jan-Feb '10

"/Templa

The Economic Times |

WTO talks to gain momentum after US review, says Pillai

"/Templa

Business Line |

Doha Round: Negotiations unlikely before Feb 2010

"/Templa

Certification of Origin of goods under EU Generalized System of Preference (GSP)

Niryat Bandhu @ Your Desktop Online Certificate Programme under Niryat Bandhu Scheme

Key decisions taken by the WTO members at MC-12 will benefit India and the developing world: FICCI

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Need to ensure that export control regime of dual-use items not an impediment but aligned to India's global commitments: DG, Directorate General of Foreign Trade

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Utilize Mini-ministerial to create support for revitalizing WTO: FICCI to Government

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FICCI welcomes easing of US-China trade tensions India must play leading role in reforming WTO: Rashesh Shah, President, FICCI

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WTO should be modified, forward-looking, inclusive and deal with issues in a time-bound manner: Suresh Prabhu

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FICCI Welcomes the award of the STA-1 STATUS by the US to India

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Inefficient logistics impacting competitiveness of Indian products: MoS Commerce & Industry

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Single Nodal Agency created for integrated development of logistics: Suresh Prabhu

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India must lead in diffusing the possibilities of a global trade war: FICCI

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India must lead in defusing the possibilities of a global trade war: FICCI

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Commerce and Industry Minister Suresh Prabhu briefs FICCI members on the WTO ministerial outcome

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FICCI Welcomes Mid-Term Review of Foreign Trade Policy

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Trade will remain fundamental to global economy; needs to evolve with emerging technology, business and policy innovation

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Implementation of WTO Trade Facilitation Agreement key to boost global trade, says experts

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FICCI comments on the launch of dashboard for Foreign Trade Data

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49% FDI under the automatic route shall add to ease of doing business and investment in the private security industry

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FICCI comments on the liberalization of FDI regime

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Govt. urges industry to recommend appropriate tariff rates to propose at the APEC membership negotiations

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FICCI comments on Trade Data for February 2015

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New Foreign Trade Policy will focus on trade facilitation, simplifying procedures and diversification of markets & products: Pravir Kumar, DGFT

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FICCI comments on India-US agreement on food reserves

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FICCI statement on WTO negotiations

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FICCI comments on WTO

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FICCI's Statement on WTO's Trade Facilitation Agreement

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FICCI comments on Trade Data, released today

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FICCI comments on Trade Data, released today

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"Acceleration in export growth is good news" - Sidharth Birla, FICCI President

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FICCI comments on Trade Data

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FICCI Comments on Trade Data (December 2013)

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FICCI Comments on Trade Data

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FICCI Congratulates Minister Anand Sharma

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"If Bali fails to deliver, then it will weaken the multilateralism and the credibility of WTO", says Naina Lal Kidwai

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FICCI Urges Trade Ministers to Conclude Deal in Bali

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FICCI Comments on Trade Data

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FICCI Welcomes Annual Supplement to Foreign Trade Policy "Trade Policy Measures will Boost Exports"

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WTO must Strengthen Rule-Based Framework and Multilateral Negotiations

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FICCI comments on Export Sops

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To strengthen multilateral trade agreements, world needs a strong and relevant WTO: Harsha Vardhana Singh, Deputy DG

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Rupee trade can boost competitiveness of Indian products in trade with Myanmar: FICCI Survey

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FICCI Welcomes Russia's Joining the WTO

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FICCI Holds Industry Consultation on Sectoral Tariff Negotiations in WTO

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Lack of Industry Feedback on Protection of Tariff Lines Will Hinder Govt's Ability to Get a Good Doha Deal: Commerce Secretary

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The India - East Africa Trade Helpdesk, in cooperation with Supporting Indian Trade and Investment for Africa, aims to facilitate trade and investment between India and East Africa by creating transparency and predictability. The trade portal gathers market information and requirements from different ITC trade tools needed for Indian and East African companies to export a specific product. Indian and East African companies can select their destination and exporting market, as well as the specific 6-digit HS product code.

Web Link: https://euromed.macmap.org/indiafrica/

Request for Feedback on India-Israel FTA

India is negotiating a Free Trade Agreement FTA with Israel. The next round of negotiations of India-Israel FTA is likely to be held shortly. In this regard, Ministry of Commerce & Industry has requested for inputs from trade and industry on Israel’s request list of industrial products.

A list of industrial products containing 91 items will be submitted by Israel subsequently.

As may be seen from the attached document, by marking "R" in column no. 5 Israel has indicated its request to India for making a product duty-free zero duty.
Wherever an item is already duty-free zero duty for importing into India, in column no 5 Israel has marked "B" so as to request that duty is bound at zero by India i.e. for such items, India cannot levy any duty in future on imports from Israel.

You are requested to kindly provide us with the following information in the enclosed file:
  • Whether India could grant “zero duty” to Israel, i.e. make the item duty free zero duty for imports from Israel column no6
  • In how many years phasing out of the duty may be considered column no7
  • Reasons for your suggestions column no8
Your valuable feedback with suitable justification will help the Government to take an appropriate negotiating stand while exchanging the request lists.

Kindly send us feedback/inputs pertaining to your line of business. Comments/inputs/feedback may kindly be e-mailed to prerna.dani@ficci.com latest by 22nd January 2015

For further details and clarification, Please contact:

Ms Saloni Jha or Ms Prerna Dani 
T: 011-23487 511, 23487 467 and 2376 5084

Request for Feedback on India-New Zealand CECA Negotiations

India is negotiating a Comprehensive Economic Cooperation Agreement CECA with New Zealand. The 10th round of India-New Zealand CECA Negotiations is scheduled to be held on 16-18 February, 2015. This offers us an opportunity to bring to the notice of Ministry of Commerce & Industry, Government of India, the negotiating stand of the industry to be adopted during the forthcoming round to be held shortly.

The negotiations are being held for Market Access, Trade in Goods TiG, Investment, Services, ROO Rules of Origin, SPS/TBT, Legal and Institution matters, Trade facilitation and Customs Cooperation Chapters.

Ministry of Commerce & Industry has requested for feedback from trade and industry on the above lines. Since the meeting is scheduled to be held in mid-February, and tome is short, could we request you to treat this request as urgent.

Kindly send us feedback/inputs pertaining to your line of business. Comments/feedback may kindly be e-mailed to prerna.dani@ficci.com at the earliest. 

For further details and clarification, please contact:
Ms Saloni Jha or Ms Prerna Dani 
T: 011- 23487 511, 23487 467 and 2376 5084

Request for Feedback on United States Generalised Scheme of Preferences GSP

USTR has recently announced the 2015 Annual GSP Review. The GSP program contains built-in import ceilings known as competitive needs limitations CNL to limit duty-free access to the US market for products and countries that might not otherwise be “competitive”. The GSP statute requires termination of GSP benefits for products from specified beneficiaries if those products either account for 50 percent or more of the value of total US imports of that product or exceed a certain dollar value $170 million in 2015 increases by $5 million per year. 

It has been noticed that two Engineering/ Auto Component Products HTS 7325.91.00 Iron or steel grinding balls and HTS 8708.50.95 Half shafts for tractors and buses would lose the US GSP preferences since they account for 55.2% and 64.5% respectively of US imports from January-August 2015. The import statistics released by US Department of Commerce for the period 2012 to August 2015 are downloadable for your ready reference Annex 1, Annex-2 and Annex 3.  

Since the US Bureau of Census data suggests that percentage of total US imports for each of these product lines has reached the threshold limit of 50%, GSP benefits on these items would be removed. However, if you would like to propose that these products should continue to receive US GSP benefits, you can provide your submissions with suitable justification. 

All concerned should follow detailed guidelines for submitting their petitions. All submissions for the GSP Annual Review must conform to GSP regulations. The regulations are available on the USTR Web site at https://ustr.gov/issue-areas/trade-development/preference-programs/generalized-system-preference-gsp/gsp-program-inf. The GSP guidebook available at https://ustr.gov/sites/default/files/GSP-Guidebook-July-2015.pdf has detailed information on the GSP program. 

The US Federal Register notice provides information on how to submit these petitions Annex 4. These instructions are as follows:

  • All submissions in response must be in English and must be submitted electronically via http://www.regulations.gov, using docket number USTR-2015-0013.
  • To make a submission via http:// www.regulations.gov, enter the docket number for this review-USTR-2015-0013 - in the ‘‘Search for’’ field on the home page and click ‘‘Search.’’ The site will provide a search-results page listing all documents associated with this docket. Find a reference to this notice by selecting ‘‘Notice’’ under ‘‘Document Type’’ in the ‘‘Filter Results by’’ section on the left side of the screen and click on the link entitled ‘‘Comment Now.’
  • Submissions must include, at the beginning of the submission, or on the first page if an attachment, the following text in bold and underlined: 1 ‘‘2015 GSP Annual Review’’ and 2 the eight-digit HTSUS subheading number in which the product is classified for product petitions or the name of the country for country practice petitions. 
  • Interested parties submitting petitions that request action with respect to specific products should also list at the beginning of the submission, or on the first page if an attachment the following information: 1 The requested action and 2 if applicable, the beneficiary developing country. Submissions should not exceed 30 single-spaced, standard letter-size pages in 12-point type, including attachments. Any data attachments to the submission should be included in the same file as the submission itself, and not as separate files. 
  • Each submitter will receive a submission tracking number upon completion of the submissions procedure at http:// www.regulations.gov. The tracking number will be the submitter’s confirmation that the submission was received into http:// www.regulations.gov. The confirmation should be kept for the submitter’s records. Documents not submitted in accordance with these instructions may not be considered in this review. 

Please Contact for further information:
Ms Saloni Jha or Ms Prerna Dani 
Tel: 011-23487467 or 23487511

Request for feedback on review of INDIA-ASEAN trade in goods agreement

As you are aware, India-ASEAN Free Trade Agreement FTA in Goods has been under implementation from January 2010. At the 12th ASEAN Economic Ministers Consultations with India held in August 2015 in Kuala Lumpur, Ministers agreed to review the trade agreement in order to maintain the momentum of bilateral trade and investment.

The agreed scope of the review of India ASEAN Trade in Goods Agreement includes the following issues:

a Rules of Origin including PSRs
b Sanitary and Phtyo-sanitary SPS / Technical barriers to Trade TBT issues
c Other issues such as verification process, release of consignments, Operational Certification Procedures OCPs, Customs Procedures and Trade Facilitation CPTF

In view of the upcoming Review of India-ASEAN FTA, the Ministry of Commerce and Industry seeks feedback and suggestions from all stakeholders on issues impacting the trade and industry since the implementation of the FTA. You are requested to kindly send feedback relevant to your line of business on the above-mentioned issues. 

Since the review process is about to start, could we request you to kindly treat this as urgent. 

Comments/inputs/feedback may please be e-mailed to saloni.jha@ficci.com latest by 6 January 2016. 

In case you or your colleagues need any further details and clarification, you are welcome to get in touch with either Ms Saloni Jha or Ms Prerna Dani Tel: 011-23487 467,  23487 511 and 2376 5084.

Request for feedback on investment agreement under India`s trade agreements with Australia and RCEP countries

As you are aware, India is negotiating key trade pacts namely, Regional Comprehensive Economic Partnership RCEP and the India-Australia Comprehensive Economic Cooperation Agreement CECA. RCEP is a proposed Free Trade Agreement FTA between 16 Countries namely the ASEAN Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam and its 6 FTA partners i.e. Australia, China, India, Japan, South Korea and New Zealand.

A working group on Investment is negotiating the Investment chapter under both RCEP and Australia CECA, which will cover the four pillars of investment promotion, protection, facilitation and liberalization. India has prepared a schedule of sectors with respect to which it would like to reserve its policy space Annex enclosed, while making commitments under the Investment Agreements to be signed with other countries. The schedule mentions about the reservations taken by India with respect to specific sectors, sub-sectors or activities for which it may maintain existing, or adopt new or more restrictive, measures that do not conform to certain obligations.

In view of above, Ministry of Finance has requested for feedback/comments on measures and descriptions supporting the reservations imposed. The Proposed schedule of India is enclosed for your ready reference. You may add to the list or give your comments on the existing provisions.

Given the paucity of time and treating this matter as urgent, may I request you to kindly examine the enclosed documents and provide your suggestions/views/inputs latest by 7th January 2016.

Comments/inputs/feedback may kindly be e-mailed to my colleague Ms Saloni Jha saloni.jha@ficci.com. In case you or your colleagues need any further details and clarification, please get in touch with either Ms Saloni Jha or Ms Prerna Dani Tel: 011-23487467 or 23487511.

Request for feedback/Inputs on informal mechanism for resolution of non-tariff measures NTMs

As you are aware, India is engaged in the ongoing negotiations of Regional Comprehensive Economic Partnership RCEP which is a proposed Free Trade Agreement FTA between 16 Countries including 10 ASEAN countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam and its 6 FTA partners i.e. Australia, China, India, Japan, South Korea and New Zealand. This is by far the most comprehensive and far-reaching FTA under negotiation by India. 

Under the RCEP trade in goods agreement, India is planning to introduce a proposal on an informal mechanism for resolution of Non-Tariff Measures NTMs. It will be a non-legal, and non–adversarial mechanism for seeking resolution on NTMs amongst RCEP Participating Countries RPCs. Moreover, the informal mechanism would be entered into only on the basis of consent of both the parties and is hence non-binding in nature Annexure enclosed.

In view of above, Department of Commerce is seeking feedback/comments on the informal mechanism. Your valuable suggestions will help the policy makers to take suitable negotiating stand. Given the paucity of time, may I request you to kindly treat this as urgent. Comments/inputs/feedback may please be e-mailed to saloni.jha@ficci.com latest by 7 January 2016. 

In case you or your colleagues need any further details and clarification, you are welcome to get in touch with either Ms Saloni Jha or Ms Prerna Dani Tel: 011-23487 467,  23487 511 and 2376 5084.

Request for feedback/inputs on regional comprehensive economic partnership RCEP

As you are aware, India is engaged in the ongoing negotiations of Regional Comprehensive Economic Partnership RCEP which is a proposed Free Trade Agreement FTA between 16 Countries including 10 ASEAN countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam and its 6 FTA partners i.e. Australia, China, India, Japan, South Korea and New Zealand. This is by far the most comprehensive and far-reaching FTA under negotiation by India. 

A Sub-Working Group on Rules of Origin SWGROO is negotiating the Rules of Origin ROO for the RCEP. The ninth round of negotiations on Rules of Origin was recently concluded in December 2015 in Laos. During this round, detailed discussions took place on the line-wise PSRs tabled by participating countries and specific queries were also raised by some partner countries for some PSRs offered by India and other issues from previous rounds. 

1.Queries related to specific PSRs proposed by India 
    • Engineering Sector including Steel and Automobiles:


 HS Code & Description PSR Proposed by India  Issues raised during ROO negotiations
 HS 740721 - of copper alloys: of copper-zinc base alloys (brass)  RVC 25 + CTSH  It was asked as to why India is proposing RVC of 25%
 HS 740911 – of refined copper: in coils  CTSH  Reasons for proposing CTSH were sought
 HS 760310 – Powders of non-lamellar structure

 

HS 760410 – of aluminium, not alloyed

 

HS 760421 – of aluminium alloys: hollow profiles
 CTH  Reason for tabling PSR – CTH instead of the alternate criteria of ‘RVC 40 or CTH’ were asked
HS 761090 – Other

 

HS 780600 – other articles of lead
 CTSH  Other participating countries want to know the reason for tabling PSR - CTSH

PSRs for Engineering Sector including Steel and Automobiles (HS Chapters 72-83 and 87) is enclosed (Annex-1).

    • Chemicals and Pharmaceuticals:

 HS Code & DescriptionPSR Proposed by India Issues raised during ROO negotiations
 HS 250200 – Unroasted iron pyritesRVC 40 + CTHReason for tabling ‘dual criteria’ PSR of ‘RVC 40 + CTH’ instead of the alternate criteria of ‘RVC40 or CTH’ were asked 
 HS 252530 - Mica Waste RVC40 or CTHOther participating countries want to know why ‘RVC40 or CTH’ is applied; they are of the view that waste and scrap should be Wholly Obtained (WO).
 HS 391400 - Ion exchangers based on polymers of headings 3901 to 3913, in primary forms RVC40 + CTSHReason for tabling ‘dual criteria’ PSR – ‘RVC40 + CTSH’ instead of the alternate criteria of ‘RVC40 or CTH’ were asked and how CTSH would be applied in this case.
HS 3920 - Other plates, sheets, film, foil and strip, of plastics, non-cellular and not reinforced, laminated, supported or similarly combined with other materials RVC40 + CTSHHow CTSH will be applied as polymers under HS 3920 are of different chemicals

PSRs for Chemicals and Pharmaceuticals (HS Chapters 25-39) is enclosed (Annex-2)


2.Dual Criteria PSRs: India has proposed a dual criteria of ‘CTC + RVC 40%’ as PSR under a large number of HS lines whereas all other partner countries have given coequal and native PSRs as ‘CTC or RVC 40%’. As a result, India has been requested by other RCEP members to adopt the similar PSR format. PSRs for Engineering Sector including Steel and Automobiles and PSRs for Chemicals and Pharmaceuticals are enclosed for your perusal and comments. 

3.Set of Goods: Korea submitted a proposal in the previous round of negotiation on ‘Sets of Goods’. It contains Korea’s suggestion for determining the Rules of Origins for goods exported in the form of Sets. The proposal Annex-3 is enclosed for feedback.
In view of above, may I request you to kindly send feedback on the above points for products that are in your business interest. 

As desired by the Commerce Ministry, we have to forward all the inputs latest by 11th January 2015 Monday. Thanks for your kind understanding. We shall greatly appreciate if you kindly email your inputs to Ms Saloni Jha saloni.jha@ficci.com. 

For any further details and clarification,  your colleagues may please get in touch with Ms Saloni Jha or Ms Prerna Dani Tel: 011-23487467 or 23487511.
 




Request for input on India-EU bilateral trade and investment agreement BTIA

As you are aware, negotiations under the India-EU Bilateral Trade & Investment Agreement (BTIA) are expected to resume soon. India and EU started the talks for a BTIA in 2007, however there are several issues which still remain to be negotiated. The last round of talks was held in 2013 and now both sides are making efforts to revive the talks.

One of the key negotiating areas under the India-EU BTIA is issue of ‘Rules of Origin (RoO)’. These are the rules that confer the origin of goods for availing tariff preferences under the proposed BTIA. These rules are based on two parameters i.e. change in tariff classification (CTC) and value addition (VA). A brief note on RoO Classifications is enclosed for your reference (Annexure).

In view of the upcoming round of negotiations of the India-EU BTIA, Ministry of Commerce and Industry has requested Industry to provide inputs on the Rules of Origin for their respective items/tariff lines. Your feedback/ suggestions would help the Government to take appropriate negotiating stance. We would request you to provide your inputs at the HS 6-digit level in the following format, as desired by the Commerce Ministry:


HS Code 6-digit

Description

Proposed RoO (Value Addition/CTC)

Rationale (production cycle i.e. inputs, raw materials, semi-finished goods, cost structure, production, capacity utilization)

 

 

 

 

 

 

 

 

 

 

 

 


Comments/feedback may please be e-mailed to prerna.dani@ficci.com latest by 15th January 2016. In case you or your colleague(s) need any further details and clarification, you are welcome to get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011-23487 467,  23487 511 and 2376 5084).


Request for Feedback: Review of India-Korea Comprehensive Economic Partnership Agreement CEPA

India - Republic of Korea (South Korea) Comprehensive Economic Partnership Agreement (CEPA) has been in effect since January 2010. As part of the ongoing CEPA review process, the Korean side has recently forwarded a list of 628 tariff lines in India's schedule under CEPA requesting to consider elimination of tariff on these lines. Presently all these tariff lines are in sensitive or excluded category (ANNEX 1) denoted by RED, SEN and EXC in India’s Schedule of commitments.

These categories are defined as follows:
  • RED : duties shall be reduced to one to five percent from the base rate in eight equal annual stages beginning on the date this Agreement enters into force i.e. 1 January 2010
  • SEN : duties shall reduce by fifty percent of the base rate in ten equal annual stages beginning on the date this Agreement enters into force i.e. 1 January 2010
  • EXC : no tariff reduction or elimination

Ministry of Commerce and Industry is in the process of seeking inputs from the industry on these 628 tariff lines. Since the next meeting of Joint Committee at Ministerial level under India-Korea CEPA is scheduled for early next month, comments/inputs/feedback should be sent to saloni.jha@ficci.com latest by 30th May 2016.

In case of any queries, kindly get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011- 23487 511, 23487 467 and 2376 5084).

Request for feedback on India-Korea CEPA

India’s Request List for seeking further tariff concessions by Republic of Korea


India - Republic of Korea (South Korea) Comprehensive Economic Partnership Agreement (CEPA) has been in effect since January 2010. In order to upgrade the agreement to achieve the desired qualitative and quantitative increase in trade, a review of the CEPA has been initiated. The next round of Inter-Ministerial meeting is scheduled for June 2016.

Ministry of Commerce and Industry is preparing a Request List for Korea seeking further concessions in Korea’s tariff schedule. So far, they have put together a request list of 270 tariff lines in Korea’s schedule (Annexure - India's request list - IK CEPA). In order to expand the list, the Government has requested for suggestions/feedback from the industry for items of India’s export interest. 

Kindly provide inputs on the tariff lines in the same format as the Annexure. Please support it with suitable justification to enable the Government to negotiate for tariff reduction/elimination on the proposed items. 

Also, the Ministry has sought suggestions on any other issues apart from tariffs that fall under the ambit of India-Korea CEPA. Comments/inputs/feedback may kindly be e-mailed to saloni.jha@ficci.com latest by 13th June.  

In case of any queries, kindly get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011- 23487511, 23487467 and 23765084).

Request for Feedback on India-Japan CEPA

India–Japan Comprehensive Economic Partnership Agreement (CEPA) has been in effect since August 2011. In order to review and monitor the implementation and operation of the CEPA, a Joint Committee was established under the agreement. The third review meeting of Joint Committee is scheduled for July 2016 at the Secretary level.

In view of the above, Ministry of Commerce and Industry is seeking inputs from the industry on the problems being faced while implementing the CEPA. These issues could pertain to market access obstacles, rules of origin, SPS/TBT measures or any other concern related to the India-Japan CEPA. 

Kindly send feedback / inputs to saloni.jha@ficci.com at your earliest convenience. 

For further details and clarification, kindly get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011- 23487 511, 23487 467 and 2376 5084).

Feedback Request: Customs Consultative Group CCG to Resolve Import/Export Related Difficulties

Customs Consultative Group (CCG) was set up under the Chairmanship of Member (Customs), Central Board of Excise and Customs (CBEC) with the objective of addressing/resolving import/export related difficulties and allied issues of concern to trade and industry. 

CCG has sought inputs from trade and industry for the 9th round of CCG consultations to be held soon. It would be a useful opportunity to highlight the problems and concerns of trade and industry on policies and procedures, and get them resolved or at least to have the impact of such difficulties minimised. Interested persons may send the details of the issues to take up with the CCG. 

Note: The CCG is not mandated to take up individual or company-specific cases or grievances.

In view of the deadline set by the CCG, arrange to send your feedback/inputs at the earliest to Ms Saloni Jha/ Ms Prerna Dani (Email: saloni.jha@ficci.com, Tel: 011-2348 7467 and 2348 7511).

Request for Feedback / Inputs on Regional Comprehensive Economic Partnership RCEP

India is engaged in the ongoing negotiations of Regional Comprehensive Economic Partnership (RCEP) which is a proposed Free Trade Agreement (FTA) between 16 Countries comprising of 10 ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and its 6 FTA partners i.e. Australia, China, India, Japan, South Korea and New Zealand. This is by far the most comprehensive and far-reaching FTA under negotiation by India. 

The Sub-Working Group on Rules of Origin (SWGROO) is negotiating the Rules of Origin (ROO) for RCEP. Department of Commerce has carried out several rounds of consultations with the industry and incorporated several inputs. However, some of the elements of Rules of Origin on which they are seeking immediate feedback is as follows:
  • Tariff Lines on which Product Specific Rules of Origin (PSRs) have not been received 
  • Justification for requesting Dual Criteria i.e. “RVC 40 + CTC”.
    (Other member countries are of the view that in the production process, either “RVC” or “CTC” criteria can lead to substantial transformation. Therefore, India has been asked to justify its stand as this criterion can be trade restrictive which will neither help the expansion of exports nor imports.)
Kindly go through the annexure (Annexure 1) and provide specific inputs with appropriate details.

The Government has also invited inputs/suggestions from trade and industry on the following issues which will be taken up in the next round of negotiations next week:
  • Method of Calculation of Regional Value Content (RVC) [Build-up / Build-down formulae]
  • Self-Certification v/s Third Party Certification
  • Full Cumulation vs Regional/Bilateral Cumulation
  • Produced Exclusively
  • De Minimis
  • Set of Goods
  • Chemical Reaction Rule
Send feedback/inputs to saloni.jha@ficci.com latest by 20 August 2016. For further details and clarification, get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011- 23487 511, 23487 467 and 2376 5084).

Request for Feedback on Non-Tariff Measures

World Trade Organization regularly organizes Committee Meetings on Technical Barriers to Trade (TBT)/ Sanitary and Phytosanitary Measures (SPS) to give an opportunity to member countries to raise their concerns with regard to the non-tariff measures taken by any other member country. The forum also provides an opportunity to raise long-pending issues which are affecting trade bilaterally.

Ministry of Commerce and Industry has, therefore, invited inputs/suggestions from trade and industry on the Non-tariff measures issues viz SPS and TBT, faced by our domestic exporters to be raised in the forthcoming WTO SPS/TBT committee meetings.

Comments/feedback/inputs can be emailed to saloni.jha@ficci.com. In case you or your colleague(s) need any further details and clarification, please get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011-23487 467,  23487 511 and 2376 5084).

Request for Feedback on Issues Related to India-UK Joint Economic and Trade Committee JETCO

India-UK Joint Economic and Trade Committee (JETCO) was established in January 2005. The JETCO has been conceived as a business driven institutional framework to enhance trade and investment between the two countries. JETCO provides a forum to UK companies to enhance their links and develop new partnerships with India business and decision makers.

The 11th meeting of India-UK Joint Economic and Trade Committee (JETCO) scheduled to be held early next month in New Delhi. Moreover, a new Working Group on Trade focusing on both Goods and Services related issues has been formed. 

Ministry of Commerce and Industry is therefore seeking inputs/suggestions from the industry on trade related issues specific to UK for taking up in the forthcoming JETCO meeting. 

Kindly send us feedback / inputs to saloni.jha@ficci.com. For any further details and clarification, please get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011-23487 467, 23487 511 and 2376 5084).

Request For Feedback/Inputs on Regional Comprehensive Economic Partnership RCEP

India is engaged in the ongoing negotiations of Regional Comprehensive Economic Partnership (RCEP) which is a proposed Free Trade Agreement (FTA) between 16 Countries comprising of 10 ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) and its 6 FTA partners i.e. Australia, China, India, Japan, South Korea and New Zealand. This is by far the most comprehensive and far-reaching FTA under negotiation by India. 

The Sub-Working Group on Rules of Origin (SWGROO) is negotiating the Rules of Origin (ROO) for RCEP. Thirteen rounds of meetings of the SGWROO have already been held. The Department of Commerce has carried out several rounds of consultations with the industry and incorporated several inputs. However, for some of the tariff lines, the decision is pending because of divergent view taken by India. 

Kindly go through the enclosures (Agenda Note and Annexure -1) and provide specific inputs with appropriate details.

Since, the next round of negotiations is scheduled to be held from 2nd December 2016, kindly treat this as urgent. As advised by Commerce Ministry, comments/inputs can be emailed to prerna.dani@ficci.com latest by Monday, 28th November 2016. 

For any further details and clarification, please get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011- 23487 511, 23487 467 and 2376 5084).

Request for feedback on WTO Trade Policy Review of USA


World Trade Organization (WTO) has a Trade Policy Review (TPR) mechanism under which it regularly reviews the trade policies of its member-countries. The Trade Policy review is a regular exercise conducted by the WTO for each of its members at fixed periodic intervals. It is a system which focuses on trade policies and practices of the Member under review, in order to assess its performance under the multilateral trade disciplines.

The next Trade Policy Review of the United States of America is scheduled on 19th and 21st December 2016. US is a major trading partner of India and therefore its trade policies and practices have a tremendous impact on Indian business. The TPR process would provide an opportunity to the Indian business to raise trade-related problems faced by them in the US. These issues could include problems such as deficiencies in US laws, policies and practices that restrain free and fair international trade in goods and services, e.g. subsidized exports, lack of transparency, discrimination against foreign goods and services etc.

Ministry of Commerce and Industry has invited inputs and suggestions from the industry on issues highlighted above. Kindly send comments/feedback to saloni.jha@ficci.com latest by 8 December 2016. For further details and clarification, please get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011-23487 467, 23487 511 and 2376 5084).

Request for Input on India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement CECPA

The negotiations under India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) are being revived by both countries. The talks were suspended three years ago and now both sides are making efforts to reconvene the negotiations.

One of the key negotiating areas under the proposed India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) is the issue of ‘Rules of Origin (RoO)’. These are the rules that would confer the origin of goods for availing tariff preferences under the proposed CECPA. The classification of Rules of Origin could include the following categories:

• Wholly Originating : Wholly Obtained good that does not contain any input from a    country that is not a party to the FTA
• CC : Change in Chapter at 2 digit HS Code level
• CTH : Change in Tariff Heading at 4 digit HS Code level         
• CTSH : Change in Tariff Sub-Heading at 6 digit HS Code level, and
•  Value Addition (%)

In view of the upcoming round of negotiations of the India-Mauritius CECPA, Ministry of Commerce and Industry has requested industry to provide inputs on the Rules of Origin for their respective items/tariff lines which would help the Government to take the appropriate negotiating stance. 

Kindly provide your inputs at the HS 6-digit level in the following format, as desired by the Commerce Ministry:


HS Code 6-digit

Description

Rule as per the actual process of production and assuming all inputs are imported

Rule proposed and the rationale thereof (production cycle i.e. inputs, raw materials, semi-finished goods; cost structure; production; capacity utilization)

 

 

 

 

 

 

 

 



The Government has also invited inputs/suggestions from trade and industry on the following issues which will be taken up in the next round of negotiations:

• Cumulation - Cumulation of ROO allows a producer of one contracting party of an    FTA to use input materials from another contracting party without losing the originating  status of that input for the purpose of the applicable rules of origin.
•  Self-Certification
•  De-minimis criteria

Kindly email comments/feedback to prerna.dani@ficci.com latest by 15th January 2017. For any further details, please get in touch with either Ms Saloni Jha or Ms Prerna Dani (Tel: 011-23487 467,  23487 511 and 2376 5084).


Request for Inputs on India - Eurasian Economic Union Free Trade Agreement

India and Eurasian Economic Union had undertaken a Joint Feasibility Study on the Free Trade Agreement (FTA) between the EAEU and its member states, of the one part and Republic of India of the other part in June 2015. The report has been finalized and its recommendations have been accepted by both the parties. Eurasian Economic Union (EAEU) constitutes of 5 member countries namely Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russian.

The Joint Feasibility Study Group (JFSG) report (Annexure-1) has concluded that the proposed FTA is feasible and mutually beneficial with substantial welfare gains and augmentation in trade in goods. The negotiations for India-EAEU Free Trade Agreement are likely to commence soon. Successful conclusion of this trade negotiation will open new opportunities for Indian exporters in a new market whose potential has largely remained untapped.

Given this background, Ministry of Commerce and Industry has invited inputs/suggestions on the following issues:
  • India's Defensive List for Imports: Provide inputs on the products in which India should not offer any tariff concession / tariff reduction on imports at HS-8 digit level with full justification in terms of EAEU price, current installed production levels, capacity utilization, employment data etc.
  • India's Exports Wish List: Specify the products which are in India’s export interest.
  • Any other inputs/issues relevant to India-EAEU FTA
Comments/feedback may please be e-mailed to prerna.dani@ficci.com latest by 31St January 2017.

Contact:
Ms Prerna Dani
T: 23487511, 23765084
E: prerna.dani@ficci.com

Request for Feedback on WTO Trade Policy Review of Japan

World Trade Organization (WTO) has a Trade Policy Review (TPR) mechanism under which it regularly reviews the trade policies of its member-countries. The Trade Policy review is a regular exercise conducted by the WTO for each of its members at fixed periodic intervals. It is a system which focuses on trade policies and practices of the Member under review, in order to assess its performance under the multilateral trade disciplines.

The next Trade Policy Review of the Japan is scheduled on 8th and 10th March 2017. Japan is a major trading partner of India and therefore its trade policies and practices have tremendous impact on Indian business. The TPR process would provide an opportunity to the Indian businesses to raise trade-related problems faced by them in the Japan. These issues could include problems such as deficiencies in Japanese laws, policies and practices that restrain free and fair international trade in goods and services, e.g. subsidized exports, lack of transparency, discrimination against foreign goods and services etc.

In view of the above, the Ministry of Commerce and Industry has invited inputs and suggestions from the industry on issues highlighted above.

Kindly e-mail comments/feedback to prerna.dani@ficci.com latest by 6th February 2017. 

Contact:

Ms Prerna Dani 
T: 23487 511, 2376 5084
E: prerna.dani@ficci.com

Request for Input on India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement CECPA

India is negotiating Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius. The talks were suspended three years ago and now both sides are making efforts to reconvene the negotiations. 

Toward this, Mauritius has forwarded a list of 290 tariff lines for seeking immediate liberalization under the proposed CECPA. The Ministry of Commerce and Industry is in the process of seeking inputs from the industry on these tariff lines (Annexure-1). 

Kindly go through the annexure and provide specific inputs with appropriate details. Comments /inputs /feedback can be emailed to prerna.dani@ficci.com latest by 31 March 2017

For any further details / clarifications, please get in touch with Ms Prerna Dani (Tel: 011- 23487 511 and 2376 5084).

Request for Feedback on Non-Tariff Measures

World Trade Organization (WTO) regularly organizes Committee Meetings on Technical Barriers to Trade (TBT)/ Sanitary and Phytosanitary Measures (SPS) to give an opportunity to member-countries to raise their concerns with regard to non-tariff measures (NTMs) adopted by other member-country(ies). The forum also provides an opportunity to raise issues which are adversely affecting trade flow.

Ministry of Commerce and Industry has invited inputs/suggestions on the Non-Tariff Measures issues viz SPS and TBT, faced by Indian business, to be raised in the forthcoming WTO SPS/TBT committee meetings.

Kindly send feedback/inputs to neha.anand@ficci.com. For any further details and clarification please get in touch with Ms Prerna Dani or Ms Neha Anand (Tel: 011-23487 511, 23487 467 and 2376 5084).

Request for feedback on India-Korea CEPA

India has signed a Comprehensive Economic Partnership Agreement (CEPA) with the Republic of Korea (South Korea) which has been in effect since January 2010. In order to review and monitor the implementation and operation of the CEPA, a Joint Committee was established under the agreement. The third meeting of Joint Committee at ministerial level is scheduled to be held on 23rd September 2017 in Seoul, South Korea for reviewing the implementation of CEPA. 

Department of Commerce is seeking inputs from the industry on the problems being faced while implementing the CEPA, which can be taken up with the Korean side during the joint committee meeting. These issues could pertain to market access obstacles, rules of origin, SPS/TBT measures or any other concern related to the India-Korea CEPA. 
Kindly provide comments/inputs/feedback to prerna.dani@ficci.com latest by 11th September 2017

In case of any queries, kindly get in touch with either Ms Prerna Dani or Ms Neha Anand (Tel: 011- 23487 511, 23487 467 and 2376 5084).

Construction of a Services Trade Restrictiveness Index

Ministry of Commerce and Industry (GOI), in association with IIFT, is conducting a study to develop a sector-specific Services Trade Restrictiveness Index (STRI) by quantifying information on regulations that act as impediments to trade in services. The main objective of the study is to assess the nature and extent of existing barriers that service exporters and importers face while trading their services in the world market. This initiative will be of immense help in government negotiations in trade agreements.


Guidelines for the Questionnaire 

The service traders of each sector and each country face a set of restrictions/regulations while trading their services. These restrictions faced by them, also called measures are grouped into a set of 5 broad policy areas or impediments to trade in services viz.

1. Foreign Entry Restrictions - barriers to foreign ownership and other impediments to market entry for service suppliers

2. Restrictions on Movement of people - limiting the movement of professionals based on certain nationality/residency requirements, non-recognition of qualifications gained abroad, etc.

3. Other Discriminatory measures & International Standards – discrimination between local and foreign service providers, for instance, on the basis of tax/subsidy treatments.

4. Barriers to competition - restrictions that limit effective competition, distorting the level playing field and discouraging foreign participation in different services markets

5. Regulatory transparency & Other Administrative requirements - opaque regulatory regimes increase the cost of compliance and uncertainty in business operations

The survey questionnaire consists of two parts - Part A & Part B. Please note that ALL fields are mandatory. In the first step, please choose the sector in which you have primarily traded and for the chosen sector ONLY, kindly fill in the rest of the entries.

Part A of the survey entails allocating a total of 100 points to the above mentioned five policy areas such that the policy area that seems most restrictive to you as a trader/sector-expert gets assigned the highest point and so on and so forth. The total of the assigned weights should add up to 100.

In Part B of the questionnaire, instead of allocating numeric weights to the importance of the five policy areas simultaneously, you are requested to make certain bilateral comparisons. As you can observe, there are ten rows in this question, and in each row, you are requested to answer two questions. The first question asks you to make a bilateral comparison between the two listed policy areas. In the second question, a scale of 1-9 allows you to quantify how important the chosen policy area is, over the unchosen one.

For instance, if the two policy areas in consideration are - Foreign Entry Restrictions V/S Restrictions to movement of People and you choose Foreign entry Restrictions as being more important, choosing 3 on the scale would mean that it is of ‘moderate importance’ in comparison to Restrictions to movement of People. The scale has been mentioned in the questionnaire explicitly.

To contribute to this Project, please click *Here*.

Your insights and hands-on-experience on the challenges faced by service traders will be extremely useful to identify priority areas of reforms for a set of both rich and developing economies.

For more details about the project, please click *Here*. Guidelines for filling in your responses are available on this *Link*

Task Force on Trade Policy

FICCI has constituted a Task Force on Trade Policy to work closely with the industry, Government and research institutions with the objective of having discussions and consultations on areas pertaining to trade policy. The Task Force is chaired by Mr R V Kanoria, Past President, FICCI and Chairman & Managing Director, Kanoria Chemicals & Industries Limited.

 

It proposes to undertake the following :

  • Conduct stakeholders' consultations / focussed conferences / closed-door interactions on matters of related to trade policy including issues on FTAs 
  • Deliberate on India's approach to WTO issues
  • Analyse India's overall trade policy and its impact on domestic industry

India-East Africa Trade Helpdesk

The India - East Africa Trade Helpdesk, in cooperation with Supporting Indian Trade and Investment for Africa, aims to facilitate trade and investment between India and East Africa by creating transparency and predictability. The trade portal gathers market information and requirements from different ITC trade tools needed for Indian and East African companies to export a specific product. Indian and East African companies can select their destination and exporting market, as well as the specific 6-digit HS product code.


Web Link: https://euromed.macmap.org/indiafrica/