WTO draft text proposes to 'agree, adopt' a binding framework until next meet
India has found support from a group of developing nations at the WTO, including Africa on this issue. However, developed countries view this as a subsidy for farmers and as a distortion to trade
India is keen to finalise the trade pact before the model code of conduct (MCC) kicks-in ahead of its general elections, making the timing of the finalisation of the proposed deal crucial
If negotiations are not wrapped up at the earliest, discussions will have to be taken forward after India's election, depending on the priority of the new government
This is because investment, as a subject, falls outside the mandate of the WTO. Besides, India is fundamentally against plurilateral pacts on multilateral platforms such as the WTO
The tariff cut is unlikely to hurt the domestic market since this is an exclusive market that caters to a limited segment that wants to buy international products
This is because the government believes that the differential between local and international prices has been maintained
The commerce department had sought the Union Cabinet's nod to bring amendments in the existing SEZ Act, 2005 late last year
Trade deficit inched up to $17.49 billion
Commerce secretary Sunil Barthwal on Thursday said that there is no free trade agreement (FTA) in which India will go against the generic drug industry
Leaked IP chapter suggests potential hindrance to affordable medicine production
Investments in the steel sector have a long gestation period and depend on the procurement of various equipment. Often some of these equipment are sourced from abroad.
Even as the investment exceeded the government's estimate in the previous financial year, progress was not uniform across all schemes
The white paper, tabled in Parliament on Thursday, compared the UPA government's two consecutive terms, starting 2004, vis-a-vis the NDA's tenure, beginning 2014
The Red Sea is vital for 30% of global container traffic and 12% of global trade
The 13th Ministerial Conference (MC) will be held from February 26-29 at Abu Dhabi, United Arab Emirates (UAE)
NITI Aayog to monitor project management agencies, ministries to ensure speedier claim settlement
This means that 80 per cent of the total allocated amount or Rs 1.56 lakh crore will be used to pay incentives to companies eligible to claim benefits over the next few years
'Ultimately, competition will prevail,' he said, urging industry to be more outward-looking in terms of scaling businesses
He said that of the Rs 30,000 crore miscellaneous receipt for FY24, the Centre expects to get about Rs 12,000 crore from asset monetisation and Rs 18,000 crore from disinvestment