It is imperative to have a level-playing field between businesses of India and China before initiating negotiations towards a possible bilateral trade agreement, FICCI said.
The country has also asked India to further reduce tariffs on goods.
In the UK, he will attend the Commonwealth Heads of Government Meeting
In a major leap in bilateral economic relations, India and Thailand on Friday finalised modalities for implementing the first phase of the Free Trade Agreement between the two countries from September this year under which they will start tariff redu
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
Though India has unilaterally scrapped duties on import of crude oil, it is not a binding commitment. Brunei's request to scrap duties on crude oil was acceded to since the commodity forms a bulk of its exports, the official said, adding this is not the case with Malaysia. India meets 75 per cent of its crude oil requirements through imports. As an inflation control measure, the government has scrapped import duty on the commodity.
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.
Trump spoke approvingly of his recent telephone conversation with Xi Jinping. This could indicate the possibility of America and China reaching some level of tactical accommodation, which would not be good news for India, points out Ambassador Shyam Saran, a former foreign secretary.
India made it clear on Thursday that it will insist on a sizeable negative list of items in the Free Trade Agreement with ASEAN and there will be no compromise on the number of agricultural and textile items in which duty free imports will be banned.
The government is targeting export of goods and services worth $2 trillion by 2030.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
India is the only country which has a negative list incorporated in a trade pact with Asean.
World Bank said on Thursday that the Indo-Asean free trade agreement would turn out to be a futile exercise unless India makes conscious efforts to lower tariffs and remove non-tariff barriers further.
The US is open to a Free Trade Agreement with India but wants bilateral economic engagement to increase further, a senior US government official said.
Favouring a free trade agreement between India and Bangladesh, business leaders of the two countries have suggested that a direct air link be established between Guwahati and Dhaka to promote commerce and tourism.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
The bill will now go to the House of Lords on Monday for voting before royal assent from Queen Elizabeth II to become law.
India-ASEAN Summit, scheduled for December 17 in Thailand, has been postponed as crisis-ridden South-East Asian country is unable to host the meet.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
The drafts or rules are prepared by Directorate General of Safeguards and it is to be issued by Finance Ministry in consultation with commerce ministry. The government may impose safeguard duties, which could be as high as more than 100 per cent, after thorough investigations confirm that import surge is leading to 'serious injury, market disruption' to domestic industry.
New foreign trade policy to stress manufacturing exports.
The AMP has been crafted by both the government and industry bodies, laying out a road map for India.
United States presidential hopeful Hillary Clinton has launched an aggressive campaign questioning her opponent Barack Obama's credentials on ending the war in Iraq. She said that Obama only talks, but would not end the war, while Republican candidate John McCain would only continue the war. "One candidate is ready, willing and able to end the war and to rebuild our military, while honouring our soldiers and veterans," she said speaking of herself.
Mark Penn, the pollster and chief architect of Hillary Clinton's campaign, has been replaced after it was disclosed that he met with the Colombian officials to promote a free trade agreement, which Clinton strongly opposes. Penn was also being held responsible for the flawed strategy for the campaign which left Clinton trailing Barack Obama for the race to win Democratic nomination for the November Presidential elections.
The joint working group on Indo-Thai free trade agreement will meet in May to iron out differences over the methodology on framing of rules of origin which led to the postponement of the implementation of the agreement.
A joint economic group comprising commerce ministers of India and China is scheduled to meet in the first week of April to discuss the proposed India-China Free Trade Agreement (FTA), a commerce ministry official said today.
The European Union has drawn up an initial negative list of 416 tradeable items on which it does not intend to provide duty cuts as part of the proposed free trade agreement with India
A meeting to discuss what goods should be included in the negative list of items for India-European Union Free Trade Agreement, was held here recently.
US automobile manufacturer Ford is studying the feasibility of launching a compact car in India that will be imported as a completely-knocked-down kit from a manufacturing hub in Thailand.
Roadblocks in the way of ASEAN-India Free Trade Agreement appear to have been removed following Prime Minister Manmohan Singh's intervention on the crucial issue of sensitive farm products like pepper, rubber, palm oil, coffee and tea.
