Indian Commerce and Industry Minister Anand Sharma met his counterparts from the ten Asean-member nations to review the progress of negotiations at Da Nang.
India on Monday emphasised the need for resuming talks on the WTO's stalled Doha Round, stating that the negotiating text for global trade can be the staring point for further talks.
Wal-Mart chief S Robson Walton met Prime Minister Manmohan Singh and Sharma last week and discussed the foreign direct investment scenario in the retail sector in India.
India and China will set up a joint working group soon to address all their trade related issues to strengthen economic relationship.
The deal was signed between Commerce and Industry Minister Anand Sharma and Japanese Foreign Minister Seiji Maehara in Tokyo.
Commerce and Industry Minister Anand Sharma has asked global retail chains not to rush the government into allowing foreign direct investment (FDI) in multi-brand retail.
As the shadow of governance deficit and corruption back home threatened to lengthen behind the glorious Davos sun, India's image managers launched a spirited damage control exercise on the penultimate day of the World Economic Forum (WEF).
India and 24 other trade ministers agreed to step up efforts to conclude a multilateral trade deal under the Doha Round this year itself.
A day before the informal meeting of the WTO, India, China and South Africa on Friday said the developing countries are being asked to further open their markets without any reciprocity from the rich nations, as per the draft proposals for a multilateral agreement.
Expressing concern over its widening trade deficit with China, New Delhi on Monday asked the neighbouring country to provide more access to Indian goods and services to bridge the gap.
The document consolidating all the aspects of foreign direct investment policy and framework will be released by commerce and industry minister Anand Sharma, an official said.
Referring to the concerns raised by industry captains and others during the meeting, Gujral admitted that the weakening Rupee is hurting importers.
The initiatives announced by Commerce and Industry Minister Anand Sharma as part of the annual supplement to the Foreign Trade Policy are aimed at pushing exports which declined by 1.76 per cent to $300.6 billion during 2012-13 and pushed up the trade deficit to $190.91 billion.
India's exports during 2012-13 declined 1.76 per cent to $300.6 billion mainly on account of slowdown in the global economy, Commerce and Industry Minister Anand Sharma said.
India's exports grew by 9 per cent to $14.6 billion (around Rs 66, 250 crore) in December.
Bilateral trade between India and Pakistan may touch USD 10 billion by 2015, if trade and investment barriers are removed, CII said.
The $31-billion company, which sources around 30 per cent of its global consumption from India, had also criticised the Indian government for not opening foreign direct investment in single brand retailing.
Currently, the trade between India and Association of South East Asian Nations stood at $80 billion.
Wen said, China is ready to work with India to increase the scale, and expand the scope of bilateral business cooperation.
US do not commit, but says outsourcing should create more jobs in both countries.
There was, however, no common ground between the government and the traders delegation as Commerce and Industry Minister Anand Sharma made it clear to them that there was no question of rollback of the decision to open the multi-brand retail to foreign investment.
The guidelines regarding the decision to allow 51 per cent FDI in the multi-brand retail will be issued by next week.
As the rupee fell below the 68-mark and global agencies painted a gloomy outlook for the economy, the government on Wednesday sought to reassure investors by saying there was no need for panic as the decline in the domestic currency was a reflection of "irrational sentiment."
"We are seriously considering raising the bar further- that means to allow increased FDI," Commerce and Industry Minister Anand Sharma said at a CII event on Indian luxury market.
Announcing the annual Foreign Trade Policy, Anand Sharma said recovery in global economy so far has been fragile and uneven.
The two countries are scouting for members of a joint working group to study a proposal to this effect made during a recent visit by Commerce and Industry Minister Anand Sharma to Colombo.
The government is expected to take a decision tomorrow on the issue of allowing foreign airlines to buy up to 49 per cent stake in cash-starved Indian carriers.
When India's Commerce and Industry Minister Anand Sharma met his counterpart in Beijing last year, he spoke mainly about India's yawning trade deficit and China agreed that this was a problem that needed fixing.
Finance Minister has proposed to levy MAT of 18.5 per cent on the book profits of Special Economic Zone developers and units.
The Bill, which also seeks to empower the government to impose quantitative restrictions on import to protect the interest of domestic industry, was approved by the Rajya Sabha earlier.
The Forum will host a special session on 'The reality of terrorism', to be initiated by Union home minister P Chidambaram. The deputy chairman of the Planning Commission, Montek Singh Ahluwalia, and commerce and industry minister Anand Sharma will be part of the Indian delegation.
For the entire 2011-12 fiscal, the shipments to the neighbouring country had stood at $1.53 billion.
The five-year Foreign Trade Policy, to be unveiled on August 27, is expected to give incentives to Indian exporters to widen their global markets beyond the United States, the European Union and Japan in the face of the economic crisis in these key destinations.
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.
Getting to the magic growth, however, will require massive increase in investment in infrastructure, in labour force skills and manufacturing capacity.
To check rising current account deficit, the government raised import duties and the RBI imposed curbs on import of the metal and also laid down various pre-conditions for inward shipments of the precious metal.
Draft Press Notes on FDI regulatory framework fail to address the gap between the domestic and foreign regulatory regimes.
Keen on expanding oil and gas explorations in Vietnam's East Sea, energy-hungry India today said it will be a "win-win" situation for both the economies.
India's exports, which saw the steepest fall of 39.2 per cent in May at the height of the global financial crisis, stands arrested at 6.6 per cent in October, and the government said it would provide more support to select segments in December.
With large FDIs moving to Africa, India should focus on more than just development aid to build sustainable ties with the continent. The African continent has been clearly recognised as the next big market for trade and investment globally.
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