The future of trade

News: Regional comprehensive Economic partnership (RCEP) which was signed in 2020 , came into force on New Year’s Day. India was part of the RCEP process but eventually pulled out of joining.  RCEP’s arrival is a reminder that the future of the international trading architecture increasingly seems to be coalitions of the willing i.e. plurilateral or… Continue reading The future of trade

Explained:What is trade deficit and what does it signify

News:India has decided not to join the Regional Comprehensive Economic Partnership(RCEP) Agreement as India’s core issues remained unresolved during the negotiations.One of the reason for not joining is the massive trade deficits India has with almost all of the RCEP countries. Facts: About Trade deficit: The trade balance of a country shows the difference between… Continue reading Explained:What is trade deficit and what does it signify

India decides to opt out of RCEP, says key concerns not addressed

News:India has decided to pull out of the Regional Comprehensive Economic Partnership(RCEP) Agreement as India’s core issues remained unresolved during the negotiations. Facts: About RCEP: RCEP is a proposed regional free trade agreement (FTA) comprising of ASEAN countries (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their 6 FTA partners… Continue reading India decides to opt out of RCEP, says key concerns not addressed

India rejects RCEP e-commerce chapter

News:India has rejected the e-commerce chapter of the Regional Comprehensive Economic Partnership (RCEP) agreement. Facts: What did the e-commerce chapter contains? The e-commerce chapter contains clauses which if India had agreed to them,would have prevented India from implementing data localisation rules on companies doing business in India. Instead, India has proposed that participating country can… Continue reading India rejects RCEP e-commerce chapter

RCEP: Opportunity, fears in regional trade deal

News:Union Minister of Commerce & Industry and Railways will be attending the 8th Regional Comprehensive Economic Partnership(RCEP) Ministerial Meeting in Bangkok.Thailand. Facts: What is RCEP? RCEP is a proposed regional free trade agreement (FTA) comprising of ASEAN countries (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their 6 FTA partners… Continue reading RCEP: Opportunity, fears in regional trade deal

RCEP Trade Ministerial meeting

News:Union Minister of Commerce & Industry and Railways will be attending the 7th Regional Comprehensive Economic Partnership(RCEP) Ministerial Meeting in Bangkok.Thailand. Facts: What is RCEP? RCEP is a proposed regional free trade agreement (FTA) comprising of ASEAN countries (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their 6 FTA partners… Continue reading RCEP Trade Ministerial meeting

RCEP negotiations: India lists out demands before China for market access

India has listed out the demands and raised specific bilateral trade issues with proposed Regional Comprehensive Economic Partnership (RCEP) member countries. India has said that it will agree to the proposed RCEP pact only if partner countries like China resolve its trade deficit with India by providing more market access. India has said that it… Continue reading RCEP negotiations: India lists out demands before China for market access

India must convince industry of RCEP’s benefits: Australia

Australian High Commissioner to India has said that Indian government must convince the industry of Regional Comprehensive Economic Partnership(RCEP) benefits. Recently,Indian Commerce minister had met industry bodies to review issues that India would need to keep in mind when continuing deliberations on the RCEP in China. The associations had said that industries are apprehensive of… Continue reading India must convince industry of RCEP’s benefits: Australia

Piyush Goyal holds ‘marathon’ of consultations with industry players ahead of RCEP meet

Commerce and Industry minister has met industry bodies to review issues that India would need to keep in mind when continuing deliberations on the Regional Comprehensive Economic Partnership (RCEP) in China. The associations has said that industries are apprehensive of India signing RCEP because of fears that China will use it to enter and dominate… Continue reading Piyush Goyal holds ‘marathon’ of consultations with industry players ahead of RCEP meet

Govt attempts fresh focus on FTAs, talks with U.S., EU and ASEAN negotiators next week

Indian Government will engage in three sets of important trade talks with the European Union (EU), the United States and ASEAN (Association of Southeast Asian Nations). The talks will focus on resolving its pending talks on trade and dispelling criticism that India has been protectionist and held up Free Trade Agreement(FTA) negotiations. The chief negotiator… Continue reading Govt attempts fresh focus on FTAs, talks with U.S., EU and ASEAN negotiators next week

India protects drug, agri biz at RCEP

India and other developing countries have succeeded in withdrawing the three harmful provisions concerning pharmaceuticals and agriculture which were part of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement. The provisions were taken off the negotiating table after India argued against the provisions of patent term extensions and data exclusivity. These provisions would have… Continue reading India protects drug, agri biz at RCEP

It’s premature to count India out of the RCEP, says Centre

India has said that it would be premature to suggest that India could be left out of the Regional Comprehensive Economic Partnership(RCEP). This statement came after Malaysian Prime Minister had said that he would prefer to go ahead with the RCEP Pact immediately and allow countries such as India, Australia and New Zealand to join… Continue reading It’s premature to count India out of the RCEP, says Centre

Quad one way to fix regional issues: Australian envoy

Australian Envoy has urged India to play a greater role in solving the regional problems of the Indo-Pacific region. Australian envoy has said that the quadrilateral grouping of the US, Australia, India, and Japan also known as the Quad was a manifestation of this cooperation. The Quad was formed to ensure and support a free,… Continue reading Quad one way to fix regional issues: Australian envoy

Copper, aluminium sectors may get raw deal if India joins RCEP, warn producers

Ahead of the Regional Comprehensive Economic Partnership (RCEP) meeting,the Aluminium Association of India(AAI) has written to the Government seeking protection from cheap imports. The AAI has said that if India joins the RCEP then such a move would pave the way for zero duty on imports of copper and aluminium which would cripple the domestic… Continue reading Copper, aluminium sectors may get raw deal if India joins RCEP, warn producers

China asks for duty-free import of 85% of its products into India

During India-China bilateral discussions,China has said they were willing to give duty-free access to 92% of Indian exports,provided India allow duty-free import of 85% of its products into China.India has offered to open up 74% of its market to Chinese goods in phases but China is not satisfied with the proposal. Import duty is a… Continue reading China asks for duty-free import of 85% of its products into India

RCEP nations to intensify talks to conclude trade pact

The Regional Comprehensive Economic Partnership (RCEP) group agreed to intensify the ongoing negotiations for a proposed mega trade agreement to resolve all issues and conclude the pact in 2019.The progress of negotiations was reviewed during a meeting of all the trade ministers of in Cambodia. RCEP is proposed mega trade pact between the ten member… Continue reading RCEP nations to intensify talks to conclude trade pact

India can breathe easy for now as RCEP deal deferred to 2019

India can breathe easy for now as RCEP deal deferred to 2019 News: The Leaders of the 16 Regional Comprehensive Economic Partnership (RCEP) member countries have deferred concluding negotiations of the proposed free trade agreement to 2019, as key member states head for elections and several market access issues remain unresolved. Important Facts: About RCEP:… Continue reading India can breathe easy for now as RCEP deal deferred to 2019