Industry sources said the meeting could be preceded by a business-to-business meeting among the industry leaders from these countries.
A senior European Union representative said here on Tuesday that the body would soon change its Customs laws to address the issue of seizures of Indian generic drug shipments while en route for export to other countries.
Commerce Minister Arun Jaitley will lead a high-power delegation to the WTO ministerial beginning at Cancun in Mexico on September 10 in which India and other developing countries are expected to lock horns with the US and EU on several issues.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
Divestment Minister Arun Shourie will lead the Indian delegation to the two-day World Trade Organisation mini-ministerial in Montreal beginning on Monday, which would try to narrow down differences on contentious issues.
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."
Federation of Indian Chambers of Commerce and Industry on Wednesday asked the US to restore the Generalised System of Preferences for Indian exports of chemicals and allied products.\n\n\n\n
In a major trade victory for India and several other countries, the World Trade Organisation has held as violation of global trade rules a controversial USlaw allowing American companies to collect more than $470 million
India has rejected the World Trade Organisation's proposal to conclude the negotiations on the Doha Round by June-end.
The Department of Pharmaceuticals has submitted a freight subsidy scheme for exporters to the Commerce Ministry so that they could take alternate routes and avoid transit through Europe, which is a shorter route with better connectivity.
National Association of Software and Service Companies said on Thursday that the Indian government should aggressively negotiate on services at the World Trade Organisation.
'We are convinced a section of the bureaucracy believes we should follow the Western model of economic development including the dictates of the WTO,' says RSS Spokesman Ram Madhav.
India and the US will co-chair a 14-member special group on services negotiations, a move aimed at giving a boost to World Trade Organisation talks in services ahead of the Hong Kong Ministerial Conference in December.
No one expects the US to sign up on any real deal till the next presidential elections are over.
India, which is the world's largest user of anti-dumping measures, also tops the list of countries that have taken the maximum number of safeguard actions such as restricting imports of a product to protect the domestic industry.
The WTO's quarterly outlook indicator, comprising seven trade parameters, stood at 96.3, the lowest since March 2010 and down from 98.6 in November. Exports from India would be hit if there is a slowdown in world trade.
Being a member of the World Trade Organisation and General Agreement on Trade in Services, India will have to lift restrictions on foreign capital in insurance.
Alongside the mini-ministerial meeting beginning in Geneva from Monday, the World Trade Organisation is convening on July 24, a 'Singalling Conference' where countries would give indications of the kind of market they are willing to concede in services. It demanded that the conference should be held in serious negotiation mode. The domestic regulations acting as barriers to the supply of services by Indian professionals in the developed markets should be removed, it said.
Commerce Minister Kamal Nath will lead the Indian delegation at the World Trade Organisation mini-ministerial meet in the Kenyan capital of Mombasa from March 2-4.
Speaking to reporters on Tuesday, Commerce Secretary Gopal K Pillai said the agriculture text proposals on the special safeguard mechanism were not acceptable to India. A country can use the SSM to impose up to 50 per cent additional import duty on farm products which have seen a surge in imports.
