New Delhi wants to resume negotiations on the long-pending Comprehensive Economic Cooperation Agreement with Australia, talks for which stalled in 2015.
At ThePrint's Off The Cuff, economist Montek Singh Ahluwalia said India not on track to either achieve $5-tn economy by 2024, or double farmer incomes by 2022.
The most pressing threat to India’s standing in the world comes not from China’s expansionism or roguish activity of Pakistan but from polarised Indian politics.
Commerce minister Piyush Goyal said the govt is going to review the free trade agreements between India and ASEAN countries signed by previous govts to address trade imbalances.
Announcement made at ASEAN Economic Integration Forum in Bangkok. India decided against joining Regional Comprehensive Economic Partnership nearly a month ago.
Both countries failed to make headway mainly on a breakthrough in the civil nuclear deal, acquisition of Amphibious aircraft and progress in the bullet train project.
'Japan will continue to try to persuade India to join,' said Hideki Makihara, Japan's Deputy Minister for Economy, Trade and Industry about the regional trade pact.
For decades, India has remained among the most protectionist of the developing economies, despite adopting liberalisation policies nearly 30 years ago.
A stunted middle class may be a direct result of extreme inequality. Folks at the top don’t see teeming masses as a meaningful market, except for utilities, soap, short videos, and personal loans.
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.
India has to manage its different interest in different ways. For standing up to China in Indo Pacific, we need USA for various defense equipment and Russia as well. For land border with China (and Pak- we have to assume anyway that China arches over us through Pak as well), we need equipment from Russia, France, Israel and US. So we are multi aligned for our security requirements. As regards trade, we have to protect our domestic market and hence, mindless free trade agreements cannot be signed under RECP or with US. Of course, this is more due to our policy inaction in changing cost and efficiency structure of our economy and is mainly a politically self inflicted pain! As regards India’s standing in geo politics, it will depend on overall economy and how other countries are able to benefit from our markets and economic growth. Here again, outdated political choices have limited our options. As regards a seat at UNSC or NSG, it is not going to happen anytime soon but we are fine with it for now. So there is no big deal about it, but this is a good topic for diplomats (particularly the retired ones) to organize international seminars and round tables and talk endlessly (and aimlessly)! Hope this upcoming conference bill is not by MEA!
With a per capita income of $ 2,000, we cannot afford to run ahead of ourselves on the global stage. India is being rerated globally, for both its economy and the evolving nature of its internal politics. Not just by the US in relation to our asymmetry with China but even by our small neighbours in South Asia. Should emerging trends continue, India will no longer be well received in the comity of nations. Organising the Raisina Dialogues will not change that reality.
India has to manage its different interest in different ways. For standing up to China in Indo Pacific, we need USA for various defense equipment and Russia as well. For land border with China (and Pak- we have to assume anyway that China arches over us through Pak as well), we need equipment from Russia, France, Israel and US. So we are multi aligned for our security requirements. As regards trade, we have to protect our domestic market and hence, mindless free trade agreements cannot be signed under RECP or with US. Of course, this is more due to our policy inaction in changing cost and efficiency structure of our economy and is mainly a politically self inflicted pain! As regards India’s standing in geo politics, it will depend on overall economy and how other countries are able to benefit from our markets and economic growth. Here again, outdated political choices have limited our options. As regards a seat at UNSC or NSG, it is not going to happen anytime soon but we are fine with it for now. So there is no big deal about it, but this is a good topic for diplomats (particularly the retired ones) to organize international seminars and round tables and talk endlessly (and aimlessly)! Hope this upcoming conference bill is not by MEA!
With a per capita income of $ 2,000, we cannot afford to run ahead of ourselves on the global stage. India is being rerated globally, for both its economy and the evolving nature of its internal politics. Not just by the US in relation to our asymmetry with China but even by our small neighbours in South Asia. Should emerging trends continue, India will no longer be well received in the comity of nations. Organising the Raisina Dialogues will not change that reality.
Poor productivity of the labor force trumps low wages in India. US has no illusion about it as does the entire world.