Getting to the magic growth, however, will require massive increase in investment in infrastructure, in labour force skills and manufacturing capacity.
Inviting EU lawmakers to J-K is the 'ultimate disrespect' to Indian Parliament's sovereignty, Sharma added.
Draft Press Notes on FDI regulatory framework fail to address the gap between the domestic and foreign regulatory regimes.
Union Minister for Commerce and Industry Anand Sharma has shrugged off the recent irritants that have cropped up less than six weeks before US President Barack Obama makes his visit to India as 'transient negativity', and predicted they would 'get dissipated' soon.
Considering the challenges, he was seen as a lightweight. One year later, his report card shows few breakthrough achievements but hardly any mess-ups.
With a view to simplify foreign direct investment process, the government plans to introduce a single FDI document by end-fiscal and is currently discussing the various modalities, Commerce and Industry Minister Anand Sharma said on Monday.
Officials in the government, however, said India could only lodge a protest and not take legal action against the US.
The Congress party's consistent foreign policy has made India expand and diversify its commerce base and, as a result, it is poised to figure among the top three economies of the world by 2030, Union Commerce and Industry Minister Anand Sharma said on Monday.
Senior Congress leader and former finance minister P Chidambaram said the stimulus package has left several sections like the poor, migrants, farmers, labourers, workers, small shopkeepers and middle class high and dry.
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.
Congress' senior spokesperson Anand Sharma Sharma said Prime Minister Narendra Modi must 'walk the talk' and announce the measures required by giving money in the hands of the poor and small and medium enterprises to help reboot the economy.
The government on Tuesday indicated that it was open to changing FDI norms for multi-brand retail sector, saying policies 'are not cast in stone'.
India is negotiating for a comprehensive economic partnership agreement with Malaysia and Japan and a broad based trade and investment agreement with the EU.
India has not changed its position on agriculture and industry at the World Trade Organisation negotiations on freeing global trade to protect the interests of its farmers and small enterprises, Commerce and Industry Minister Anand Sharma has said.
India's exports, which saw the steepest fall of 39.2 per cent in May at the height of the global financial crisis, stands arrested at 6.6 per cent in October, and the government said it would provide more support to select segments in December.
Officials from India and the Association of Southeast Asian Nations would resume their talks to widen of the scope of a Free Trade Agreement with the 10-nation trading bloc to cover services and investment.
According to the Press Notes 2, 3 and 4 of the department of industrial policy and promotion, for a company or entity to be treated as Indian, foreign investment, including American and global depository receipts, foreign currency convertible bonds, convertible preference shares and from non-resident Indians, in it should be less than 50 per cent.
New Delhi is witnessing a spurt of political activity over the Goods and Services Tax Bill.
Over the past five years, US-India trade has more than doubled and the US continues to be India's largest trading partner -- if goods and services are counted -- a total bilateral trade standing at $65.9 billion in 2009.
Union Commerce and Industry Minister Anand Sharma said that India has been less affected by the current global economic crisis due to the economy's strong fundamentals.
On all key issues, Congress is MIA, sighs Shekhar Gupta.
Commerce and Industry Minister Anand Sharma today assured exporters of government mediation to ensure that they get foreign currency loans at the new lower rate set by the RBI amid complaints against banks levying additional charges.
India on Wednesday asked its South Asian neighbours to increase intra-regional trade as a cushion against slowdown in exports to the US and European markets.
Commerce and Industry Minister Anand Sharma and the US Trade Representative Ron Kirk would sign the India-US Trade Policy Forum Framework for cooperation on trade and investment in Washington on March 17.
The country is on track to surpass the export target of $200 billion for the current fiscal, Commerce and Industry Minister Anand Sharma said in New Delhi on Monday.
US President Barack Obama would meet Prime Minister Manmohan Singh on the sidelines of the G-20 Summit in Toronto, a top Indian official said Wednesday. "The Prime Minister would be traveling for the G-20, he will be meeting President Obama," Union Minister of Commerce and Industry Anand Sharma told Indian media-persons in Washington.
India Inc is ready to invest in Russia's pharmaceutical sector and the two governments are working on a joint document to this effect, Commerce and Industry Minister Anand Sharma has said.
For the third month in a row, exports rose in January, reporting 11.5 per cent growth to $14.34 billion, against $12.9 billion in the year-ago period, Commerce and Industry Minister Anand Sharma said.
Talks for an India-European Union free trade agreement started in 2007 and the eighth round of negotiations was completed in New Delhi last month.
India has assured global investors of a stable policy regime, stating no government initiative has ever been reversed or questioned in the past two decades.
India and China took their economic relationship a step forward today, signing a memorandum of understanding on 'Expansion of Trade and Economic Cooperation' and recognising the need for "balanced trade".
The Commerce Ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector.
Ahead of the third quarter monetary policy review by the Reserve Bank later this month, Commerce and Industry Minister Anand Sharma has opposed monetary tightening, saying fund flows to the industry have not caused food inflation.
Talks had collapsed in Geneva in July last year after India, among others, opposed agriculture subsidies offered by rich nations to their farmers on the grounds that this distorts trade by making produce of developing countries costly. The negotiators will meet for a week beginning September 14.
The Obama administration has not received any specific assurances from India that it will help carry the developing countries with it to help successfully complete the stalled Doha Development Agenda, but the fact that New Delhi is hosting the World Trade Organization ministerial meeting exudes optimism in this regard, US Trade Representative Ron Kirk has acknowledged
Ahead of unveiling the Foreign Trade Policy, Commerce Minister Anand Sharma on Wednesday said the government was looking at cooperating with states to bring down transaction costs to make exports more competitive. India's exports have been on a downslide since October 2008.
This accord marks the success of India's Look East Policy and is the first with a trading bloc.
This accord marks the success of India's Look East Policy and is the first with a trading bloc.
In his attempt to revive a beleaguered Congress, Rahul Gandhi is trying to bring in new leadership in the form of Rajeev Gowda and BK Hari Prasad, whose names have been nominated for the Rajya Sabha, says Renu Mittal.
Commerce minister Anand Sharma had taken up the treaty when he was in the US in June. The two are also trying to bridge differences on the investment protection treaty.
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