As police cordoned off landmarks like the Lincoln Memorial and government agencies stopped cancer treatments and trade negotiations, Republicans in the House of Representatives moved to restore funding to national parks, veterans care and the District of Columbia.
Among the Sensex firms, HDFC, HDFC Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Bharti Airtel, Tata Motors, Reliance Industries and Maruti were the biggest laggards. Bajaj Finance, State Bank of India, NTPC, Hindustan Unilever, Titan, Infosys, Bajaj Finserv, Wipro, Asian Paints and Tata Consultancy Services were among the major gainers.
After recording positive growth in September, India's exports declined 5.4 per cent to $24.82 billion in October on account of dip in shipments of petroleum products, gems and jewellery, leather, and engineering goods. Trade deficit in October narrowed to $8.78 billion as against $11.76 billion, as imports also fell 11.56 per cent to $33.6 billion during the month under review.
John Clancy, spokesperson for the European Commission's trade directorate, told Business Standard this week's talks would focus on 'tariffs and services'.
Govt will continue to oppose Greenpeace activist Priya Pillai's 'badmouthing' India.
US, EU have flexibility to shield 65 sensitive textile products from immediate formula cuts.
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.
Commerce Minister Kamal Nath on Tuesday began hectic parleys with his counterparts from Singapore, Malaysia and Vietnam to narrow down differences on finalising the much-awaited Asean-India Free Trade Agreement. However, the Indonesian Trade Minister Mari Pangestu said that the 10-member Asean had put the trade talks "on hold" until India came up with a more progressive way forward.
The G-20 leaders at their last meeting at London had asked Lamy to explore ways to improve the political engagements for resolving differences on the much-delayed Doha Round of negotiations, which were meant to culminate into a multilateral trade liberalising agreement in 2005.
India on Wednesday warned WTO members of backlash in developing countries if economic reforms were perceived to be an imposition from outside.
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
For trust in democracy to be retained, elections need to be not just free of intervention -- ruling out Pakistan and Russia -- but also demonstrate the capability to both deliver ruling mandates and hold the potential for large swings in favour of the opposition, points out Mihir S Sharma.And, after an election is done, they need to see a mandate in order to go back to their lives and let their representatives get on with the business of government, points out Mihir S Sharma.
Developed economies like the US and EU are contemplating certain rules in relation to trade and environment which will have a significant implication for their border trade measures such as carbon taxation system for imports.
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.
The European Union hosted the two-day meeting with participants drawn from the United States, China, India, Brazil, Australia, New Zealand, Mexico, Canada, Japan, Malaysia, Indonesia, South Africa and Egypt.
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
She, however, did not name a departure date at the at the ruling party's influential 1922 Committee meeting.
US continues to lead efforts to shake loose the economic promise of an agreement with real market access for all involved.
Keen to salvage its engagement with Washington DC that has gone southbound ever since the Trump administration came in, India has called for a final set of meetings with US trade officials, soon, reports Subhayan Chakraborty.
British Prime Minister Rishi Sunak has said that the UK government remains committed to working "as quickly as possible" towards a successful conclusion to the ongoing free trade agreement (FTA) talks with India, as the majority of the substantive negotiation conversations were completed at the end of last month. At a House of Commons session on the G20 Summit in Indonesia on Thursday, the British Indian leader updated Parliament that he reviewed progress on the FTA during his first meeting with Prime Minister Narendra Modi since taking charge at 10 Downing Street. He was questioned by Opposition Labour Party Leader Keir Starmer and his own Conservative Party MPs on the timeline for the completion of the agreement with India.
In a significant move to make the World Trade Organisations trade negotiations to meet the July-end deadline for a Framework Agreement, Trade Ministers of Non-Group 5 including India are meeting in Paris from July10-11.
Specific difficulties and last-minute backtracking now can only be overcome by trade ministers at a biennial meeting on Dec 3-6.
Countries negotiating free trade agreements (FTAs) need to keep in mind eight "myths" which surround these pacts, like they lead to accelerated increase in exports and promote domestic manufacturing, according to a report by think-tank GTRI. The report by Global Trade Research Initiative (GTRI) claims to dispel these 'myths', including that FTAs weaken the WTO (World Trade Organisation), countries are rushing to do FTAs, and these pacts promote investment and lower prices. It is "erroneously" believed that most world trade happens through the FTA route, but in reality, it is less than 20 per cent, said the report titled 'FTAs: Fabulous, Futile, or Flawed?'.
Panagariya urged the government to undertake labour law reforms and make land acquisition more flexible to attract the multinationals.
Five fastest growing economies, including India, on Wednesday vowed to oppose trade protectionism as they agreed to coordinate their positions in the multilateral fora, including the G-20 and climate change negotiations, to uphold the interests of developing countries.
India is most open to dialogue on the Doha round and trade negotiations among all major emerging markets, a top Obama Administration official has told the US lawmakers.
Lower-paid IPL players, domestic or foreign, should be able to try their luck in other T20 tournaments.
Accusing a "handful" of "advanced developing countries" of "masking" their "narrow interests" behind claims for speaking for the rest of the developing world, the US said it is concerned the way trade negotiations are moving ahead of crucial talks for concluding Doha round.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
During separate bilateral meetings with Brazil and India in Paris last week, the US conveyed that it was the responsibility of emerging countries to convince their trade and other lobbies on a zero-for-zero tariff elimination for these products, failing which Washington would find it difficult to secure the green light from its powerful industrial and Congressional groups to conclude the Doha talks, Business Standard was told.
The Pittsburgh summit could determine the timing of a calibrated winding down of public spending, now that the signs of a global economic recovery are evident.
Noting that he was in India in January, Bhagwati said there is no way anybody in India could be prevailed upon to make the kinds of concessions that are required by the US farm lobby, against a cut of only $3 billion.
British Prime Minister Rishi Sunak has reiterated the UK's commitment to a free trade agreement (FTA) with India as part of the country's wider focus on enhancing ties with the strategic Indo-Pacific region and standing up to competitors with "robust pragmatism". Delivering his first major foreign policy speech since taking charge at 10 Downing Street last month at the Lord Mayor of London's Banquet on Monday evening, the British Indian leader reflected upon his heritage and committed to promoting British values of "freedom and openness" around the world. He also pledged to "do things differently" far removed from the so-called "golden era" with China, which he said poses a "systemic challenge" to British values and interests.
"It was agreed that the first meeting for this purpose (starting of negotiations for comprehensive economic cooperation agreement) would be scheduled by June or July," India's Commerce and Industry Minister Anand Sharma told reporters at a joint press conference with Australian Trade Minister Craig Emerson in Canberra, Australia.
Addressing the 'Namaste Trump' event at the Motera Stadium in Ahmedabad, Trump said that both the countries are in the early stages of discussion for an 'incredible' trade agreement to reduce barriers of investments.
According to a senior commerce department official, though India is ready to sign the TFA and take necessary actions towards that, it is imperative that a discussion on public stockholding gets its due importance.
The US must make substantial cuts in farm subsidies and scale down demands for tariff reductions by developing countries to enable the stalled WTO talks to move forward, India's top trade negotiator said on Thursday.
Indian Commerce and Industry Minister Anand Sharma met his counterparts from the ten Asean-member nations to review the progress of negotiations at Da Nang.
India's chief trade negotiator Rahul Khullar yesterday warned that the much-planned ministerial meeting, which the World Trade Organisation Director General Pascal Lamy wants to convene soon, can succeed only if there was a revised Doha Rules text reflecting the concerns of all the members and an immediate resolution of TRIPS-CBD issue.
