WTO should focus more on what it 'should do' than what it 'can do'
The report was jointly prepared by the Paris-based Organisation for Economic Cooperation and Development and the World Trade Organisation.
Resuming trade talks after a gap of five years, India and Japan on Friday committed themselves to enhance the miniscule $3.5 billion bilateral trade and resolved to address impediments like the rigid labour laws.
India and the United Kingdom on Monday expressed keenness to boost bilateral trade and emphasised on the need to end the World Trade Organisation stalemate.
The US asked India on Monday to reduce barriers for increasing bilateral trade and expressed hope of forward movement in the stalled WTO talks.
Modi was received at the venue by Chinese President Xi Jinping and First Lady Peng Liyuan. On arrival, the Prime Minister exchanged greetings with the Chinese President before joining other leaders for the customary family photo session.
Chinese Foreign Minister Wang Yi said that it is imperative for the two sides to view each other as partners and opportunities rather than rivals or threats, and invest their valuable resources in development and revitalisation.
Exports contracted by 2.6 per cent to $34.47 billion in September even as the country's merchandise trade deficit narrows to $19.37 billion during the month under review, according to the government data released on Friday. Easing commodity prices helped in cutting down the country's import bill by 15 per cent to $53.84 billion in September, the 10th consecutive month of decline. During April-September this fiscal, exports contracted by 8.77 per cent to $211.4 billion.
'We have to be prepared for the larger disruption that is likely to take place.'
The US wants India to recognise internationally accredited labs, harmonise labelling requirements and the validity period of test reports and certification with global practices, and eliminate retesting requirements.
'India is too important to the United States for there to be any kind of a permanent bump in the relationship.'
Notwithstanding all the talk and euphoria over the progress in terms of US-India trade and investment, US Trade Representative Susan Schwab said that India punches way below its weight when it comes to global trade.
Pakistan's Army Chief Field Marshal Asim Munir met with Chinese President Xi Jinping, along with Pakistani Prime Minister Shehbaz Sharif, to discuss bilateral and regional cooperation. The meeting occurred during Sharif's visit to China for the Shanghai Cooperation Organisation (SCO) summit.
WTO Director-General Pascal Lamy said his meetings with the US, China, India, and Brazil over the last fortnight revealed that the gaps in positions among members are too wide
Chinese Foreign Minister Wang Yi's visit to India focuses on border talks with NSA Ajit Doval, amidst efforts to rebuild relations after the Galwan Valley clashes and rising India-US tensions.
'Trump is not shy when he is frustrated with countries'
With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
China's Foreign Minister Wang Yi expressed China's anticipation for Prime Minister Narendra Modi's visit to the Shanghai Cooperation Organisation (SCO) summit, emphasizing the importance of strong India-China relations and mutual cooperation.
Prime Minister Narendra Modi on Saturday welcomed a host of world leaders, including United States President Joe Biden and United Kingdom Prime Minister Rishi Sunak, at the Bharat Mandapam, the venue of the G20 Summit.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
The fresh initiative by Commerce Minister Anand Sharma to meet ambassadors of the key members of the World Trade Organisation (WTO) in Geneva, in a bid to revive the deadlocked Doha round of trade negotiations, is well-timed though a positive outcome may be doubtful.
The United States Trade Representative Robert Zoellick has invited key trade ministers including India's and European Union's for a meeting in London this month end to find ways to move forward in the World Trade Organisation.
'We should watch -- in the near term -- for signs that the two have totally fallen out at a personal, political level.' 'Trump and Modi know how to be dealmakers, but they also know how to hold a grudge.'
External Affairs Minister S Jaishankar says Operation Sindoor conveyed India's resolve to act against terrorism, following UN Security Council's call to bring Pahalgam attackers to justice.
Farmers protesting to press the Centre for their various demands will stay put at the two protest sites on the Punjab-Haryana border till February 29 when the next course of action will be decided, their leader Sarwan Singh Pandher said on Friday.
World Trade Organisation (WTO) states appeared to edge closer towards a crucial deal on cheaper medicines for poor countries to help them face emergencies such as AIDS, malaria and tuberculosis.
India on Tuesday said it was making a last ditch effort to revive the collapsed WTO talks but made it clear that it would not allow industrialised nations to trample developing countries' interest, especially in the sensitive farm sector.
A World Trade Organisation panel ruled against India on Friday in a row with the United States over textiles, handing Washington a victory after several high profile trade dispute defeats.\n\n\n\n
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
