The pact on trade in goods under the Comprehensive Economic Cooperation Agreement was signed by Indian commerce and industry minister Anand Sharma and ASEAN economic ministers after more than six years of intense negotiations.
After six years of painstaking talks, the Comprehensive Economic Cooperation Agreement will be signed which will eliminate duties on 80 per cent of goods traded between the two over the next eight years. Commerce minister Anand Sharma, who is in Bangkok to sign the pact, said the agreement is well balanced and is in harmony with the India's Look East Policy.
The London-based Hinduja conglomerate has begun work on the $15-billion investment plan for India's power sector that will result in generating 10,000 MW for the national electricity grid.
"My offer to the US is that they should reduce their subsidy by just one dollar and we have a deal," Commerce and Industry Minister Kamal Nath said on Monday at a conference on globalisation, organised by FICCI and University of Oxford.
US said no to a free trade deal with India as India cannot fully open agricultural imports from American farmers.
In spite of the Orient snub, Tatas are still negotiating with them for the hotel takeover as well as scouting other US cities for luxury hotels.
Indo-US investment protection pact is likely to come through by year end according to Commerce and Industry Minister Kamal Nath.
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
US recession is likely to help Indian economy as it wil attract more global investments, said Commerce and Industry Minister Kamal Nath.
Nandigram remained in headlines throughout the year despite the West Bengal government cancelling the SEZ project of Indonesia's Salem Group in January following violence and political pressure on Chief Minister Buddhadeb Bhattacharjee.
India is fielding a 100-member team, led by Commerce Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. The duo will address a number of India-centric sessions on economic reforms.
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