India has strongly refuted claims by the United States Trade Representative (USTR) regarding excess capacity in its steel and textile sectors, arguing that the nation's significantly low per capita consumption of these products contradicts such assertions, according to Amitabh Kumar, Additional Secretary in the Ministry of Commerce.
The Doha negotiations has been virtually stalled since July 2008.
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
Modi, who was in Osaka, laid special emphasis on building a disaster resilient future.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
'The virus of trust deficit seems to be taking a toll of the friendship built over the years by succeeding leaderships of the two countries,' notes Rup Narayan Das.
'Both India and Japan can find themselves in a win-win situation if they draw some lessons from each other's strengths,' says Dr Rajaram Panda.
