Barriers that impede India-ASEAN trade must be removed: Sitharaman
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman said on Thursday that if India and ASEAN (Association of South East Asian Nations) countries were to recognize their full potential for business then they need to fast-track the ‘corridors of connectivity’ to ‘corridors of trade’. “Barriers that impede trade must be removed besides enhanced utilization of the Free Trade Agreement (FTA),” she said while speaking at the ASEAN-India Expo and Forum, being held in Bangkok from August 2-5. Sitharaman said that for trade promotion, the introduction of non-tariff measures such as facilitating customs and operation procedures have to go a long way to ensure smooth movement of goods and services between the partner nations. The Minister termed Act East policy of India as “the pillar of its foreign policy”, ...
India concerned over China's actions to stall exports
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman has pitched for a strong focus on the country’s trade with China, while expressing concern over China’s “efforts to stall India’s exports through non-tariff barriers”. On Friday, the Minister held a meeting with a parliamentary consultative committee in Goa to assess the performance of India’s foreign trade. Responding to suggestions given by the committee members, the minister said that focus was being given on sectors such as pharma/ IT/ ITES/gems & jewellery/ textiles/ fruits & vegetables/ meat exports to improve India’s exports to China. “The Commerce Minister highlighted the concern that China has been making efforts to stall India’s exports through non-tariff barriers such as phytosanitary stipulations, standardisation issues etc,” ...
Bilateral forum to discuss issues of Indias textile, agri, pharma exports to US
The Dollar Business Bureau India has asked the United States to set up a separate working group to discuss non-tariff barriers faced by certain Indian textile products and issues of market access for pharmaceuticals and agricultural products in the US. Commerce Secretary Rita Teaotia raised these issues during her meeting with US Deputy USTR Ambassador Robert Holleyman on Tuesday. The meeting was held in New Delhi to deliberate on the agenda setting, modalities and dates for convening the 9th round of the ministerial level meeting of the Trade Policy Forum (TPF) – a bilateral forum to enhance economic partnership between the two countries. The ministerial level meeting of the forum is likely to be held in the US by the ...
Government must address issues of Indian companies in China
The Dollar Business Bureau An industry body has asked the government to take urgent steps to reduce non-tariff barriers and ensure level-playing field for Indian companies in China. The Confederation of Indian Industry (CII) submitted a memorandum to the government a day before Prime Minister Narendra Modi was scheduled to begin his five-day tour to China, South Korea and Mongolia. Expressing concern over various challenges faced by Indian firms in IT, pharma and media sectors, the memorandum said that though the bilateral trade rose at a compound annual growth rate (CAGR) of 15% since 2007-08, the trade deficit has been burgeoning in an unsustainable manner. “Sectors such as IT, drugs and pharma, and media and entertainment pose several challenges for ...
