Sources said China was forcefully pushing for inking the deal during the RCEP summit later in the day, which was seen as an attempt to counter-balance the impact of its lingering trade war with the US as well as to project the region's economic might to the West.
The prime minister was speaking at an event to mark golden jubilee of the Aditya Birla Group's presence in Thailand.
The agenda prepared by ministers will be discussed by Prime Minister Narendra Modi and other RCEP leaders in Nonthaburi, a city north of Bangkok, on November 4, the official deadline to close talks.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
The agreement provides for extensive cooperation in the civil nuclear energy sector including in research and development for peaceful uses of nuclear energy, they said.
During the meeting on the sidelines of the 11th BRICS Summit on Wednesday, prime minister Modi said there was a "new direction and new energy" in bilateral ties after the two leaders' second informal summit in Chennai.
The high point of the trip will be Goyal's meeting with US Trade Representative Robert Lighthizer on November 13, which is expected to see the USTR push India towards lower import duties in a broad range of areas.
The reshuffle could take place before the start of the winter session of Parliament.
The report by the High Level Advisory Group said India stands to benefit even more when the US and China are locked in a global trade war.
If India wants to become a globally competitive manufacturing hub, it will have to rethink the notion that the traditional SMEs will form the manufacturing backbone, argues Prosenjit Datta.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
'It is inconceivable that there are no gays working in Indian corporations but obviously, the subject remains taboo enough in the workplace for those of alternate sexual orientation to feel safer remaining in the closet,' notes Kanika Datta.
Prime Minister Narendra Modi on Tuesday invited investors here to participate in the proposed divestment of Navratna PSUs
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
It became increasingly clear that the real negotiations the government had to conduct were with Indian business which was wary of yet another free trade agreement, points out T N Ninan.
According to the industry body, the 16-member RCEP has the potential to become one of the largest and economically dynamic trading blocs of the world, even bigger than the European Union.
He also said it was important that even during the difficult moments of this "crisis" India has been communicating and engaging with China.
'Keeping Kashmir out of the informal summit does not mean that they have given up their strategic interest.'
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
The prime minister will have a tight schedule in the Philippines as besides attending the 15th ASEAN-India summit and 12th East Asia summit on November 14, he will have a series of other engagements including bilateral meetings with several leaders.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
India has been forcefully raising the issue of market access as well as protected lists of goods mainly to shield its domestic market as there have been fears that the country may be flooded with cheap Chinese agricultural and industrial products once it signs the deal.
For India to reach its ambiguous economic growth targets, it needs to be integrated into global trade pacts.
Prime Ministers Modi and Abe enjoyed a close and empathetic relationship and this certainly gave a sustained momentum to the India-Japan strategic partnership. It is necessary for India to reach out and engage with his successor as early as possible, advises former foreign secretary Shyam Saran.
Modi will have limited choice other than stressing upon a request for more time to decide on tariff rates, especially with elections in 2019.
The South Asian nations could script a new history of cooperation and prosperity that could serve as an example for other nations, notes Dr Rahul Mishra.
Frosty Indo-Pak relations after the beheading of Indian soldiers by Pakistani troops were on full display in Yokohama, Japan.
Jaishankar criticised the UNHRC for its criticism on the situation in Jammu and Kashmir,
Trump can afford to say that COVID-19 is a 'China virus', but we can't expect Modi to say that aloud while his actions may speak louder, says Rup Narayan Das.
'Without bold action to deal with our banking crisis, count on the economy's doldrums to continue for much longer than most of us anticipate,' says Rahul Jacob.
'The lessons from tiny New Zealand about mobilising to prevent an environment going up in flames around us and combatting the feral Whatsapp politics of hatred are in many ways Gandhian,' says Rahul Jacob.
Aiming to give fillip to India's Look East policy, Prime Minister Manmohan Singh is expected to announce new initiatives to take forward ties with the ASEAN by setting up a mission and appointing an ambassador for the 10-member grouping.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
While addressing the 14th ASEAN-India summit, the PM noted that growing radicalism and spread of extreme violence are the other security threats.
Sharma proposes to pass on the 'handover note' to his successor, which as per the poll projections is likely to be from Bharatiya Janata Party-led National Democratic Alliance.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
Prime Minister Narendra Modi on Thursday asserted that the world community must reject any linkage between religion and terrorism while formulating a "genuinely international" partnership in the fight against all forms of terror acts.
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