'There is a lot of euphoria in the country after a trade agreement is signed. But it is an illusion for us. What is more important is making it real.'
Maruti Suzuki will introduce eight SUVs over the next five years taking its overall model range to 28 as it aims to regain 50 per cent market share in the domestic passenger vehicle segment, Suzuki Motor Corporation Representative Director and President Toshihiro Suzuki said on Wednesday.
'We believe that in the new world order FTAs or bilateral trade agreements (BTAs) are the way forward.' 'They are enablers for our participation in global value chains. Today, around 70 per cent of global trade is tied to these chains.'
'The US is strongly placed to expand its crude supplies to India.'
India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to $10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
The Centre said on Wednesday it had made a good offer for the proposed Free Trade Agreement with the Association of South East Asian Nation and is awaiting ASEAN's reactions to it.
Officials from India and the Association of Southeast Asian Nations would resume their talks to widen of the scope of a Free Trade Agreement with the 10-nation trading bloc to cover services and investment.
India has decided to put the process of bringing down duties on edible oil on the fast track to reach an early agreement with Asean for a Free Trade Agreement.
Trade ministers of India and ASEAN countries are likely to meet in Singapore next month to work out a common ground so that the much-awaited India-ASEAN free trade agreement takes off next year.
Emphasising that various issues are on agenda at the G20 under India's leadership.
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