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.
National Association of Software and Service Companies said on Thursday that the Indian government should aggressively negotiate on services at the World Trade Organisation.
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.
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.
'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.
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.
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.
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.
India on Wednesday warned WTO members of backlash in developing countries if economic reforms were perceived to be an imposition from outside.
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.
Commerce and Industry Minister Arun Jaitley will lead the Indian delegation to the World Trade Organisation mini- ministerial at Sharm-el-Sheikh in Cairo, beginning June 20.\n\n\n\n
Commerce secretary Sunil Barthwal is set to attend a two-day meeting from October 23 at the World Trade Organization (WTO) headquarters in Geneva, that would focus on finding solutions and giving the 'necessary political push' for at least some crucial global trade issues. Next week's meeting comes ahead of the WTO's 13th ministerial conference (MC13), scheduled in Abu Dhabi in February 2024. It will see participation of senior government officials from all WTO member nations.
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.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
The World Trade Organisation General Council is likely to meet in the third week of July to consider the Framework on Agriculture.
In 2007, India slashed the additional customs duty it charged on imported (which were up to 150 per cent of value of imports depending on the spirits), but simultaneously hiked the basic customs duties to 150 per cent from 100 per cent.
Britain on Thursday said it was unlikely that the next World Trade Organisation Ministerial will be held this year, indicating that completion of the Doha Development Round of trade negotiations will miss the deadline of January 01, 2005.
'Shark fins are the most sought-after shark product.'
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.
