India and 4 member countries of European Free Trade Association have held 13 rounds of negotiations between 2008 & 2013. Negotiations were placed on hold before resuming in October 2016.
The corridor, announced on sidelines of the G20 summit, aims to extend from India across the Arabian Sea to UAE and through Saudi Arabia before connecting through Jordan & Israel to Europe.
India's trade minister Piyush Goyal and his US counterpart Katherine Tai held their annual trade policy talks in New Delhi on 12 January. Tai is on a three-day visit to India.
Trilateral dialogue comes as India attempts to position itself as a manufacturing hub of critical technologies such as semiconductors, where South Korea is a global leader.
Imbalance in Russia-India trade & US sanctions have meant Russia is accumulating rupees it can’t use. At stake could be a significant part of India’s imports from Russia.
Report also notes that India accounts for 11% of globally seized value of perfumes and cosmetics, and is one of the major hubs & sources of such counterfeits.
Despite talks about leveraging the digital, the foreign trade policy has failed to mention how this emphasis on technology can address the financial shortcomings that plague the MSME sector.
This FTP intends to reduce transaction costs by reducing composition fees in certain schemes, simplifying procedure, and integrating various timelines into the policy.
While the commission didn’t mention provisions under which IndiGo's market domination would be examined, Competition Act 2002 prohibits abuse of dominant position by any enterprise.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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