The World Bank has urged India to reconsider its position on RCEP. Worries about China’s overcapacity and India’s struggles with previous FTAs had led to its withdrawal in 2019.
Modi govt has made economic diplomacy a key part of its engagement with US, Quad, and others. Yet, India’s economic linkages in Indo-Pacific region remain underdeveloped.
Despite contraction in exports, India’s merchandise trade deficit improved in 2023-24, owing to steeper drop in imports. However, the trade deficit with China & Russia widened.
Last month, at least two meetings were held between representatives of India & European Free Trade Association. The FTA with the 4-nation bloc is likely to be finalised this month.
Speaking at book launch, External Affairs Minister Jaishankar says India engaged in ‘fairly serious negotiations with some fairly serious partners regarding free trade pacts’.
Coffee will be the first export to Chinese market, Honduran Foreign Minister Reina noted, adding that both countries are evaluating future shipments of shrimp & melon to China.
The index ranks 26 countries and is based on 8 broad parameters. It includes Russia, Australia, New Zealand and the US for the influence they wield over the continent.
Administrative efficiency and targeted schemes can ease frictions, but they cannot offset the competitiveness loss from expensive imported intermediates.
With recruitments under Agnipath set to rise, the Union Budget has significantly increased spending, with the Army taking nearly 87% of the total outlay.
The key to fighting a war successfully, or even launching it, is a clear objective. That’s an entirely political call. It isn’t emotional or purely military.
Irrespective of joining the RCEP or any other body, Indian manufacturing will never be competitive. The Indian consumer will continue to pay big money for shoddy Indian goods and the protected crony capitalist will be enriched.
India should join both RCEP and CPTPP. Vietnam is present in both. It has also concluded an FTA with the EU, something we have been struggling with for a decade. Instructive to compare its export graph with ours over the last ten years.
Irrespective of joining the RCEP or any other body, Indian manufacturing will never be competitive. The Indian consumer will continue to pay big money for shoddy Indian goods and the protected crony capitalist will be enriched.
People in comment taking about Vietnam in comment. Vietnam case is totally different from india.
Balanced article. Rather than hurry. India first need to boosting it’s own manufacturing sector.
And make them capable of global standards
India should join both RCEP and CPTPP. Vietnam is present in both. It has also concluded an FTA with the EU, something we have been struggling with for a decade. Instructive to compare its export graph with ours over the last ten years.