A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India's exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, which clocked a record $26.2 billion in June. Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. And, with other currencies depreciating, India's comparative advantage in this respect may be limited.
Negotiations on Singapore issues, that have remained a taboo for India, will be the main discussion point at the World Trade Organisation ministerial meeting in Cancun next month.
Bangladesh said on Tuesday that India should fulfill certain conditions like duty free access for 118 items and removal of non-tariff restrictions, before it can start talks on a bilateral Free Trade Agreement.
Not the one to give up hope, WTO Director General Pascal Lamy is visiting India next week to find ways for picking up the threads from last month's failed trade talks in Geneva.
The WTO mini-ministerial scheduled to be held later this month to break the impasse on crucial farm and industrial tariff negotiations has been called off.
The trade referee is already reviewing a European legal challenge of wine and liquor restrictions in a number of Indian states.
The European Union on Tuesday agreed with New Delhi that there needs to be in place some sort of livelihood security for farmers in agriculture negotiations at the World Trade Organisation
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
The pace of privatisation of the Indian healthcare segment is expected to be the fastest in the coming years.
Cancun appears headed for a fiasco like Seattle with Tokyo World Trade Organisation mini-ministerial hitting roadblocks.
If the United States has its way in the World Trade Organisation, Indians may soon be able to savour the famed Californian wine for a much lesser price.
Indian medicine accounted for over 50 per cent of all drug seizures in Europe for intellectual property rights violation last year. Industry experts said this indicates the seriousness of the problem. This data was revealed in the recently-released 2009 report of the European Union on the customs enforcement activities of its member states.
European Commission has claimed that its agriculture proposal submitted to the World Trade Organisation is fair and a win-win with sufficient safeguards to protect food security of developing countries including India.
India has expressed disappointment over the first draft text for the forthcoming World Trade Organisation Ministerial Conference in Hong Kong
India has said it is committed to working for a successful conclusion of Doha round of World Trade Organisation talks despite the setbacks witnessed in the recent months.
A day after the US dragged China to the World Trade Organisation, Treasury Secretary Timothy Geithner is slated to brief two key congressional committees later on Thursday on how the Obama administration plans to make Beijing provide a more-level playing field to American firms.
As India has kept out of the multilateral agreement on public procurement, it may find it tough to contest in the WTO the US state of Ohio's ban on offshore outsourcing by government departments, experts said.
The run-up to the G20 meeting in Seoul, South Korea in November will be busy for members of the World Trade Organisation (WTO). Starting mid-September, various small group meetings will be convened in Geneva to discuss and possibly resolve the outstanding issues in the Doha Round so that the political leaders of the G20 countries can provide a road map for concluding the stalled multilateral trade negotiations and help, revive and sustain global economies.
India may drag US to the World Trade Organisation for its new "protectionist" move in hiking professional visa fees, a step that will make Indian IT companies less competitive in the American market.
The European Union on Wednesday said there would not be any dialogue with India on the World Trade Organisation issues when their political heads meet at the India-EU summit this weekend, even though trade issues will figure in the summit.
India on Wednesday maintained that its laws were compliant with the trade related intellectual property rights, dismissing the United States concern over New Delhi's "reluctance" to adopt TRIPS compliant patent law.
Tata Communications (formerly VSNL) has acquired a 50 per cent stake in Beijing-based telecom and IT services firm China Enterprise Communications for an undisclosed sum. The acquisition was done through its wholly owned subsidiary, Tata Communications International Pte.
