India and Canada aim at achieving a bilateral trade target of $15 billion in the next five years, even as both countries are beginning a series of negotiations to have a Comprehensive Economic Partnership Agreement (CEPA) soon that would yield significant economic benefit for both countries and lower tariffs over a large number of products, says Peter Van Loan, Minister of International Trade, Canada.
Thnew deal will likely usher in a new era of cooperation and broad-basing of economic relationship between the two Asian powers.
A draft report prepared by Members of the European Parliament could potentially derail negotiations between India and the European Union, the country's largest trade partner, on a Comprehensive Economic Partnership Agreement involving duty-free trade of goods, services and investment. The report has called for the inclusion of human rights and democracy issues in the CEPA talks and an international investigation into "extra judicial killings" in Jammu & Kashmir.
Keen to forge all-weather ties with India, Sri Lankan President Mahinda Rajapaksa has lauded the developmental work undertaken by the country in the war-ravaged northern region and vowed not to allow his nation's soil to be used against it.
Prime Minister Manmohan Singh said on Sunday in an interview to the Japanese media in Tokyo that India is confident of signing a 'win-win' civilian nuclear deal with Japan and is looking forward to a comprehensive economic partnership agreement to boost bilateral trade.
After FTA, duties were either cut or eliminated on 90 per cent of goods traded between the coutries.
Some of these nations are India's biggest export market. India is also dependent on these countries to meet its energy needs.
According to sources, last week's talks between the two countries had hit a roadblock as Japanese trade envoys were unwilling to grant market access to Indian pharmaceuticals and allow professionals, including nurses, to work in the island nation. The talks were held in Tokyo.
India and Japan are expected to move ahead on signing a comprehensive economic partnership agreement, besides finalising a partnership on the Delhi-Mumbai industrial corridor.
Addressing the MPs in Parliament, he favoured early conclusion of the Comprehensive Economic Partnership Agreement to push economic relations and raise the volume of bilateral trade to $20 billion in the next three years.
Environmental and social activist groups in the country have expressed concern that Japan may dump toxic wastes into India by taking advantage of the proposed comprehensive economic partnership agreement.
This approval was given after a meeting of the Trade and Economic Relations Committee in New Delhi, Media Advisor to the PM Sanjaya Baru.
The scope of the Indo-Sri Lankan trade agreement is expected to be expanded soon by bringing more areas, including the services sector under its ambit, Sri Lankan Deputy High Commissioner to India Sumith Nakandala said on Tuesday.
India and Russia have decided to explore signing a Comprehensive Economic Partnership Agreement that will include not only features of a foreign trade agreement but also trade in services and investment.
'In a special gesture, UAE President and Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan, accompanied by senior members of the Royal Family, was at Abu Dhabi airport for the interaction with PM'
Indo-Sri Lanka trade, which has reached $1.73 billion, is set to receive a boost with the two countries working on a comprehensive economic partnership agreement, India's top envoy said in Colombo on Thursday.
The dispute arose after Nissan alleged that Tamil Nadu hadn't paid certain incentives under a 2008 agreement to set up a car plant at Oragadam, near Chennai.
Global confidence in India has been restored, says Modi.
Ahead of Sri Lankan Prime Minister Ranil Wickremesinghe's first foreign visit to India, at least 16 Indian fishermen arrested recently for allegedly poaching in Sri Lankan waters will be released in a goodwill gesture.
Steps such as safeguard duty in the works to plug the route
President Kovind, who arrived in Dhaka earlier in the day on his maiden State visit at the invitation of his counterpart M Abdul Hamid to attend the golden jubilee celebrations of Bangladesh's independence from Pakistan in 1971, held delegation-level talks with him which was followed by a banquet.
Japanese PM Shinzo Abe will arrive in New Delhi on Friday on a three-day visit to hold annual summit with a focus on forging greater synergies between the two nations.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
The pacts signed after Modi-Hasina talks provided for deeper cooperation between the two countries in areas of water resources, youth affairs, culture, education and coastal surveillance.
India, South Korea sign 7 agreements to boost cooperation.
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
A Rs 98,000-crore deal to build a bullet train network is among a number of agreements likely to be signed during Japanese Prime Minister Shinzo Abe's three- day visit beginning Friday during which he will hold annual summit talks with his Indian counterpart Narendra Modi.
India will witness good growth under the present government.
There were concerns in Sri Lanka about the huge trade imbalance.
The Commerce Ministry earlier this week commissioned a study to assess the impact of free trade agreement with South Korea, with which India had a trade deficit of about $9 billion in 2012-13.
Trade between Australia and India stands at around $15 billion a year, or just a tenth of that between Australia and China.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
Prime Minister Narendra Modi on Thursday asserted that the world community must reject any linkage between religion and terrorism while formulating a "genuinely international" partnership in the fight against all forms of terror acts.
PM indirectly referred to North Korea's proliferation linkages with Pakistan.
Four Canadian ministers of Indian origin are traveling with Prime Minister Trudeau.
Xi will attend the second informal meeting with Modi at Mahabalipuram near Chennai from October 11 to 12 and pay a state visit to Nepal on October 13, Foreign Ministry spokesperson Hua Chunying announced on Wednesday.
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President Pranab Mukherjee has sought to counter criticism against the economic stimulus provided when he was the Finance Minister in 2009 and maintained that economy under him registered high growth rates.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
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