India has demanded resumption of export benefits to certain domestic products under GSP, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and import duties cut on some ICT products.
Donald Trump said he will never sign any trade agreement that hurts US workers, or diminishes its freedom and independence.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
Negotiators from the two sides will meet in July either at Brussels or Geneva, additional secretary in the commerce ministry D K Mittal told PTI.
US Trade Representative's office in early February asked India for WTO consultations on its national solar program, the Jawaharal Nehru National Solar Mission.
The first five months of 2023 have witnessed at least six major events/trends that augur badly for global economic and socio-political prospects, points out Shankar Acharya, former chief economic adviser to the Government of India.
Chinese Ambassador to Pakistan Jiang Zaidong urged that the government should launch a crackdown against all anti-China terrorist groups after two deadly attacks took place in Pakistan within only six months, The Express Tribune reported.
The California walnuts shipped from the US to India have seen a sharp uptick with imports more than doubling from September to November against the same period last year. This comes after New Delhi removed its retaliatory customs tariffs on the key dry fruit. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped additional customs duties on about half a dozen US goods that were imposed in 2019 in response to America raising tariffs on certain steel and aluminum products coming from India.
A last-ditch attempt to rescue the Doha round of world trade talks is likely to be made towards the end of July at a Geneva meeting of 30 trade ministers from among the 150-member countries of the World Trade Organisation (WTO).
For developing countries, the key to both food security and livelihood security is the ability to protect small and marginal farmers from unfair competition and the policy space within which they can develop an agricultural policy centered on small-farmers and the maximisation of employment growth.
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
It's time Indian parliamentarians learnt to view global economic frameworks without the narrow prism of domestic politics
The United States has filed a complaint against China at the World Trade Organisation over the nearly $3 billion of antidumping and countervailing duties that Beijing levies on US automobile exports, saying that such duties abuse trade laws.
The coming months will see intense negotiations between World Trade Organisation members to achieve a breakthrough in the Doha Round of world trade talks by the end of July this year.
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
'Within India, people want high-quality, personalised banking services, and the demand for such services has exploded.'
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $ 5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
'Shark fins are the most sought-after shark product.'
The initiative for the consultations among the select ministers was taken by Australian Trade Minister Simon Crean.
Duty-free and quota-free access in favour of LDCs is a commitment undertaken by WTO members at the launch of the Doha Round in 2001.
Live on one of Gelephu's inhabitable bridges where elephants will saunter past, be it day or night; or be homed in a never-ending building with flying cars and robot maids? asks ambivalent Sandeep Goyal.
Australian Trade Minister Simon Crean has expressed optimism in sorting and settling challenging differences.
The United States on Monday ruled out cutting farm subsidies unilaterally, but said it was open to talks on the subject with a view to restarting the Doha Round of negotiations at the World Trade Organisation.
Trade ministers of key WTO member countries, including India would meet on the sidelines of the Organisation for Economic Cooperation and Development meeting in Paris in the last week of May.
Why can't the Indian government propose to the Chinese a corridor circumambulating the Holy Mountain where people from both sides could perform the yatra again? asks Claude Arpi.
The summit is being attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organisations.
While India does not figure in the top 10 export destinations for Pakistani goods, it serves as a crucial channel for select goods such as leather hides and cheaper variants of fertilisers that are generally procured by importers at short notice.
A feasibility study on the proposed Free Trade Agreement, officially known as the Comprehensive Economic Cooperation Agreement, has long been finalised but cannot be acted upon in the absence of Russia joining the WTO.
Director General of the World Trade Organisation had stated early this month that the current food crisis can be solved through a successful outcome of the Doha Round of negotiations for a multi-lateral trade deal among 151 countries. Biswajit Dhar, head of the Centre for WTO Studies, Indian Institute of Foreign Trade, felt that if an agreement is reached it would provide certainty in terms of policy regime for the farmers in developing countries.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
It is time to shrug off the ideological shackles about the way we work, play and live, says Ajit Balakrishnan.
The United States is committed to move the multilateral trade talks forward this year but India, China and Brazil need to contribute to a positive outcome of the World Trade Organisation negotiations, US Trade Representative Susan Schwab has said.
Unable to penetrate the fast-growing Indian wine market, the American wine industry has charged New Delhi with adopting "highly protectionist measures" to shield the domestic industry.
WTO bullish about success of Mexico round
West Bengal has been granted Geographical Indication status for the sweet.
India on Wednesday banned 118 more mobile apps with Chinese links, including the popular game PUBG, citing data privacy concerns and a threat to national security, taking the total count of Chinese-linked mobile apps banned by New Delhi to 224.
WTO summit will see whether decade-long negotiations would go forward or be brought to an end.
