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