Amid demands for snapping trade ties with China for its transgressions on the border, former Niti Aayog vice chairman Arvind Panagariya has opined that cutting trade with Beijing at this juncture would amount to sacrificing India's potential economic growth. Instead, Panagariya suggested that India should try to enter into free trade agreements (FTA) with countries such as the UK and the European Union to expand its trade. "Engaging China in a trade war at this juncture will mean sacrificing a considerable part of our potential growth... purely on economic grounds, it will be unwise to take any action in response to it (transgressions on the border)," the eminent economist told PTI.
More than Indian exporters, it is Indian business families based in Sri Lanka and Hong Kong which have exploited the Bangladesh advantage
The proposed overhaul of popular H-1B visa regime may result in higher operational costs and shortage of skilled workers for the $110-billion Indian outsourcing industry.
Existing trade deals, especially the 2009 pact with the Asean bloc, have been panned by the Centre for not boosting exports but flooding the domestic market with cheap imports. Subsequently, New Delhi has called for reviewing FTAs with Japan and South Korea. Going by that, a trade deal with the US is unlikely to be beneficial, say experts.
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India-European Union Broad-based Trade and Investment agreement came up for discussion in a meeting between Sharma and visiting Netherlands Minister of Foreign Trade and Development Cooperation Lilianne Ploumen in New Delhi.
Freer movement of Indian professionals in 25 European Union member countries is likely to be a reality in the near future, as this will be a key point of negotiations in the proposed Free Trade Agreement with EU.
The FIEO on Thursday reiterated that the Customs authorities at several ports in India had ordered a sudden examination of Chinese consignments without any official word from the government, and this may have led to the Chinese retribution.
Indian companies struggle in face of a set of common challenges related to logistics, labour regulations, tax and tariff policy
For many years now, India has given the Commonwealth short shrift so its support for the Commonwealth trade initiative signals a renewed interest in the body.
'We don't need to hinge India-UK relations on shared hostility toward China,' observes Ambassador M K Bhadrakumar.
'India has an advantage because we produce more cotton and we have more workforce.'
In an article published in the Sunday Telegraph as she left for India for her first bilateral visit outside the UK, she said plans to promote the best of Britain during her three-day trade mission to New Delhi and Bengaluru.
Prime Minister Narendra Modi will leave for the Belgian capital as part of a three-nation tour during which he will attend the Nuclear Security Summit in Washington and visit.
'Fear psychosis has gripped the entire world.' 'Nobody is going to enter shops freely in the next 5, 6 months.' 'Secondly, the priority has changed.' 'Now that they have seen the bottom of the economy, people will prefer to save for tomorrow.'
With EU, it is part of the FTA that we will need to negotiate.
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
An ambitious long-term vision to ensure economic connectivity between India and the rest of Southern Asia is critical to India's trade policy objectives.
India's external firewalls were solid in the form of a healthy reserve position.
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