Piyush Goyal pushes for ASEAN FTA renegotiation
3 years, 2 months ago

Piyush Goyal pushes for ASEAN FTA renegotiation

The Hindu  

Commerce and Industry Minister Piyush Goyal called for a renegotiation of the India-ASEAN free trade agreement, to prevent its misuse by ‘third parties’ and remove trade restrictions as well as non-tariff barriers that he said have hurt Indian exports disproportionately since the pact was operationalised in 2010. “India is currently witnessing exponential growth in imports from the ASEAN region, while our exports have been impeded by non-reciprocity in FTA concessions, non-tariff barriers, import restrictions, quotas and export taxes from ASEAN countries. “For trade to grow, it needs to be fair, transparent, equitable, reciprocal and inclusive,” Mr Goyal asserted, urging ASEAN ministers to push for an ‘early completion of the scoping exercise’ so the trade pact review can begin. Brunei Darussalam’s Finance and Economy Minister Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah hoped the trade pact review will achieve ‘a balance between regulation and market access’ and ensure freer flow of goods and services across borders.

India Trade Asean Goyal Fta  goyal  india  pushes  asean  barriers  billion  review  mr  fta  piyush  region  renegotiation  trade

History of this topic

India strongly pushing for review of Asean-India trade pact, says Jaishankar
2 weeks, 5 days ago

India strongly pushing for review of Asean-India trade pact, says Jaishankar

Hindustan Times  

NEW DELHI: India has been pressing the Association of Southeast Asian Nations for the review of the Asean-India Trade in Goods Agreement because of concerns about its impact on the development of domestic manufacturing, external affairs minister S Jaishankar said on Thursday. External affairs minister S Jaishankar addresses the ASSOCHAM Bharat@100 Summit Fireside Chat on 'Enhancing Bharat’s global partnerships' in …

Piyush Goyal: India Chooses FTAs With Transparent, Aligned Economies
1 month ago

Piyush Goyal: India Chooses FTAs With Transparent, Aligned Economies

Deccan Chronicle  

New Delhi: Commerce and Industry Minister Piyush Goyal on Tuesday said that India looks for equity, balance and fair trade while negotiating a free trade agreement. “Fulfilling basic amenities of citizens has been the government’s priority for the last decade empowering Indians to aspire big, ensuring that India uses the 4-D advantage of democracy, demographic dividend, demand and decisive leadership …

India Seeks Tariff Flexibility in ASEAN FTA Review
1 month, 1 week ago

India Seeks Tariff Flexibility in ASEAN FTA Review

Deccan Chronicle  

New Delhi: India may seek flexibility in the existing tariff concessions in sectors, which are impacted by significant increase in imports, under the free trade agreement review with the 10-nation Association of Southeast Asian Nations, an official said. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the …

China-ASEAN FTA set for key upgrade
2 months, 3 weeks ago

China-ASEAN FTA set for key upgrade

China Daily  

Visitors inquire about products at the China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region, on Tuesday. A "substantial upgrade" of the China-ASEAN Free Trade Area may be announced during an upcoming summit in Laos, said Kao Kim Hourn, secretary-general of the Association of Southeast Asian Nations, on Wednesday. Noting that China and member economies of ASEAN have been working actively …

China aims to expand FTAs
4 months, 3 weeks ago

China aims to expand FTAs

China Daily  

Containerships seen at the port of Haikou, Hainan province. SU BIKUN/FOR CHINA DAILY China is poised to expand its high-standard free trade zone network, with a focus on accelerating its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and advancing negotiations with multiple countries, the Ministry of Commerce said on Friday. Building on the foundation of previous exchanges …

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal
4 months, 3 weeks ago

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal

India TV News  

New Delhii: Commerce and Industry Minister Piyush Goyal said on Tuesday that there is no rethinking in the government to support foreign direct investments from China, as was pitched by the Economic Survey recently. India faces two choices to benefit from the 'China plus one strategy' -- it can integrate into China's supply chain or promote FDI from China. China …

Govt looks to make North East export hub for Bangladesh, Asean
8 months, 2 weeks ago

Govt looks to make North East export hub for Bangladesh, Asean

Hindustan Times  

The government is rapidly implementing a comprehensive strategy to make the landlocked northeastern region an export hub for markets in Bangladesh and the Association of Southeast Asian Nations even as it negotiates a better free trade deal with the 10-nation Asean block, people familiar with the matter said on Wednesday. India is renegotiating several “adverse” provisions of the 2009 trade …

What can India learn from countries like Vietnam to become an export giant?
10 months ago

What can India learn from countries like Vietnam to become an export giant?

The Hindu  

Like with the last episode of Business Matters, this one too was triggered by a headline I saw in an article: “India fears losing out to China in smartphone exports race”. This Reuters piece cited IT Minister of State Rajeev Chandrasekhar’s letter dated January 3 to Finance Minister Nirmala Sitharaman expressing fears that India’s high tariffs could be a deterrent …

FTAs spur China's trade, partners' economies
11 months, 3 weeks ago

FTAs spur China's trade, partners' economies

China Daily  

The expansion of China's free trade agreements with multiple countries will enhance the competitiveness of its products globally and facilitate its companies' entry into more markets this year, said analysts and exporters on Tuesday. With the China-Nicaragua FTA — China's 21st free trade deal with another country — taking effect on Monday, they said multilateral and bilateral FTAs can be …

FTAs spur China's trade, partners' economies
11 months, 3 weeks ago

FTAs spur China's trade, partners' economies

China Daily  

The expansion of China's free trade agreements with multiple countries will enhance the competitiveness of its products globally and facilitate its companies' entry into more markets this year, said analysts and exporters on Tuesday. With the China-Nicaragua FTA — China's 21st free trade deal with another country — taking effect on Monday, they said multilateral and bilateral FTAs can be …

India's trade trajectory: FTAs and beyond
1 year, 1 month ago

India's trade trajectory: FTAs and beyond

Live Mint  

India has been refining its global trade strategy, emphasizing a fresh outlook on Free Trade Agreements. India's readiness to face these emerging challenges will determine how well it can fulfil its ambitions of becoming an export-oriented manufacturing hub Not so long ago, India embarked on a journey to strengthen its trade relations with several nations, forging FTAs that promised mutual …

India, Asean Agree To Conclude Negotiation For FTA Review In 2025
1 year, 4 months ago

India, Asean Agree To Conclude Negotiation For FTA Review In 2025

ABP News  

India and the ten-bloc Asean have agreed to fast track the negotiations for the review of the existing free trade agreement in goods between the two regions and conclude the talks in 2025, stated an official statement on Monday. The main agenda of this year’s meeting was a timely review of the ASEAN-India Trade in Goods Agreement which was signed …

India-ASEAN trade deal ill conceived: Goyal
1 year, 4 months ago

India-ASEAN trade deal ill conceived: Goyal

Live Mint  

India-ASEAN trade deal signed under the UPA era is one of the most ill-conceived deals, commerce minister Piyush Goyal said on Thursday at an industry event. India mostly imports capital goods, raw materials and intermediates from Asean, the tariff concessions under the free trade agreements have also been advantageous to many sectors and adversely impacted domestic companies, especially chemicals and …

Reactivating the Asean-India partnership through an FTA
1 year, 6 months ago

Reactivating the Asean-India partnership through an FTA

Hindustan Times  

One of India’s finest Prime Ministers Atal Bihari Vajpayee is remembered for his leadership in shaping India’s engagements with the Southeast Asia. India’s trade balance with ASEAN has deteriorated after the implementation of the FTA. India’s trade increased significantly with rest of the world and also with Asean, and the trends show an almost similar cycle and movement. Second, India’s …

India’s Jan.-April imports from China rise 4.6% to $37.86 billion
1 year, 6 months ago

India’s Jan.-April imports from China rise 4.6% to $37.86 billion

The Hindu  

India’s imports of Chinese goods have continued to rise in 2023, growing 4.6% in the first four months of the year to cross $37.86 billion. Two-way trade climbed 4.5% from the year-earlier period to reach $44.34 billion at the end of April, data from China’s General Administration of Customs showed. In the first four months of the year, China’s trade …

India-UAE trade pact boosts exports to $31.3 billion in 2022-23
1 year, 7 months ago

India-UAE trade pact boosts exports to $31.3 billion in 2022-23

The Hindu  

Exports from India to the UAE have grown at almost 12% in 2022-23 to hit $31.3 billion, more than double the 5.3% growth in India’s overall exports, thanks to the implementation of the bilateral trade pact last May, the Commerce Ministry said on Monday. “During the CEPA Implementation period, bilateral trade increased from $67.5 billion a year earlier to $76.9 …

India’s new trade policy aims at $2tn exports by 2030
1 year, 8 months ago

India’s new trade policy aims at $2tn exports by 2030

Hindustan Times  

India on Friday announced a Foreign Trade Policy targeting $2 trillion in exports by 2030, split equally between goods and services that does not have a so-called sunset clause, and which encourages trade settlements in rupees. Expressing confidence in Indian industry after launching the FTP 2023, Union commerce minister Piyush Goyal said any ambitious target could be achieved provided “we …

India failed to create positive impression among businesses moving away from China, says House panel report
1 year, 9 months ago

India failed to create positive impression among businesses moving away from China, says House panel report

The Hindu  

Despite resources, India has not been able to create a positive impression among businesses moving away from China, a parliamentary panel on commerce has said in its report tabled in the Rajya Sabha on Friday. The report stated that India has not been able to take advantage of the “China Plus One Strategy,” through which multinationals shifted manufacturing and production …

Aakar Patel | If our trade with China can see a rise, why not with our neighbours?
1 year, 11 months ago

Aakar Patel | If our trade with China can see a rise, why not with our neighbours?

Deccan Chronicle  

Reserve Bank governor Shaktikanta Das said last week that the government and the RBI were in discussions with South Asian countries to enable cross-border trade in the rupee. The World Bank says that trade between South Asian nations accounts for only five per cent of the region’s total trade. The World Bank says “border challenges mean it is about 20 …

India looking at multilateral agreements that are fair, equitable for all sides: Piyush Goyal
1 year, 11 months ago

India looking at multilateral agreements that are fair, equitable for all sides: Piyush Goyal

The Hindu  

Negotiations for bilateral free trade agreements with several countries are "well on track" and India is also looking at some multilateral pacts that are fair and equitable for all the member countries, Commerce and Industry Minister Piyush Goyal said on January 7. The country is negotiating FTAs with countries including Canada, European Union and the U.K. "We are well on …

India, Gulf Council agree to resume negotiations on free trade agreement: Piyush Goyal
2 years, 1 month ago

India, Gulf Council agree to resume negotiations on free trade agreement: Piyush Goyal

Hindustan Times  

India and the Gulf Cooperation Council have agreed to pursue a free trade agreement between the two regions and resume the negotiations, Commerce and Industry Minister Piyush Goyal said on Thursday. India's exports to the GCC member countries grew by 58.26 per cent to about USD 44 billion in 2021-22 against USD 27.8 billion in 2020-21, according to data from …

India-ASEAN nations to enhance cooperation against terrorism
2 years, 1 month ago

India-ASEAN nations to enhance cooperation against terrorism

Deccan Chronicle  

NEW DELHI: With an eye on the growing Chinese military and economic assertiveness in the region, India and the 10 members of the Asean on Saturday decided to establish a comprehensive strategic partnership and enhance cooperation against terrorism. At the 19th Asean-India Summit in the Cambodian capital of Phnom Penh, that was attended by Vice-President Jagdeep Dhankhar on Saturday, India …

India, Taiwan should consider finalising FTA as soon as possible: Taiwan Government Representative
2 years, 2 months ago

India, Taiwan should consider finalising FTA as soon as possible: Taiwan Government Representative

The Hindu  

India and Taiwan should firm up the proposed free trade agreement at the earliest as it will remove all barriers to trade and investment and help create a resilient supply chain, Government Representative at Taipei Economic and Cultural Center in India Baushuan Ger said. Mr. Ger said Taiwan has been actively pursuing FTA with like-minded trading partners including India and …

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin
2 years, 7 months ago

India joins Biden’s new trade initiative for Indo-Pacific, negotiations to begin

The Hindu  

India signalled its readiness to join a new economic initiative led by the United States for the region, as Prime Minister Narendra Modi joined U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and leaders of 10 countries, who joined virtually, for the launch of the Indo-Pacific Economic Framework for Prosperity in Tokyo on May 23. U.S. officials made it …

India's brush with FTAs, in five charts
2 years, 9 months ago

India's brush with FTAs, in five charts

Live Mint  

Last month, India and the United Arab Emirates signed a comprehensive economic partnership agreement, which comprises a free trade agreement. The experience with four previous FTAs shows that following a relaxation in tariffs, India’s imports have generally risen at a faster pace than exports to the respective trading partners. This insight becomes pertinent as the UAE is India’s third-largest trade …

What explains India's high import traiffs
2 years, 10 months ago

What explains India's high import traiffs

Live Mint  

Decoding India’s tariff and trade policy has become increasingly difficult for trade experts. Unlike them, India’s free-trade agreement partners like the Republic of Korea and Thailand also have fairly high average autonomous tariffs, compared to countries like Australia and New Zealand. Learnings from previous agreements: India’s comprehensive economic partnership agreement with ROK has been a key learning experience in the …

It Boils down to Rice: Why China Enjoys Special Treatment in Sri Lanka
2 years, 11 months ago

It Boils down to Rice: Why China Enjoys Special Treatment in Sri Lanka

News 18  

Going by what’s on record, Chinese Foreign Minister Wang Yi’s two-day visit to Sri Lanka did not generate any additional cause for concern, especially for the Indian neighbour. Significantly, bilateral economic cooperation had commenced six years earlier in 1951-52, with the two sides signing the ‘Rice for Rubber Pact’ and acting on it immediately in the wake of food crisis …

India working on FTAs with UAE, five others: Goyal
3 years ago

India working on FTAs with UAE, five others: Goyal

Hindustan Times  

India is working on at least six free trade agreements, including one with the United Arab Emirates that can create a gateway for Indian trade to the Middle East and Africa and New Delhi may set up a huge India Mart in Dubai to tap that market, commerce minister Piyush Goyal said on Friday. Speaking at the annual convention of …

Unpredictable policies key impediments to bilateral trade, U.S. tells India
3 years, 1 month ago

Unpredictable policies key impediments to bilateral trade, U.S. tells India

The Hindu  

U.S. Trade Representative Katherine Tai on Monday flagged India’s ‘unpredictable’ regulatory norms, high tariffs and market access restrictions as key impediments to bilateral trade, emphasised America’s continued interest in agriculture market access and conveyed that “worker-centric” policies will be the pivot for the Joe Biden administration’s approach to trade policy. “At the USTR’s office, we hear very frequently from our …

Despite Galwan, India’s trade with China has grown. But there is a shift
3 years, 2 months ago

Despite Galwan, India’s trade with China has grown. But there is a shift

Hindustan Times  

New Delhi : Notwithstanding the ongoing border dispute with China, and efforts to dilute economic linkages and reduce dependence, India’s merchandise trade with China is growing and may cross the $100 billion mark this year. While Indian exports to China have seen an 18.54% year-on-year growth at $10.66 billion in April-August 2021, imports of Chinese goods have surged by over …

India must find its way back into trade arrangements
3 years, 2 months ago

India must find its way back into trade arrangements

Hindustan Times  

India and its neighbours have been hesitant to embrace trade as a core element in development. As India watches, Southeast Asian countries are signing free trade agreements, improving market access and creating conditions for deepening their already strong integration with global value chains. Some of these trade initiatives include the Comprehensive and Progressive Agreement for Trans-Pacific Partnership covering Pacific-rim countries; …

Piyush Goyal urges Asean to remove barriers, curb misuse of FTAs
3 years, 2 months ago

Piyush Goyal urges Asean to remove barriers, curb misuse of FTAs

Hindustan Times  

Trade minister Piyush Goyal on Friday called upon the Association of Southeast Asian Nations to do away with non-tariff barriers and curb the misuse of free trade agreements by third parties, often outside the region. I think this only results in reciprocal action from other countries, including India and will hurt the long-term desire of our leaders to expand trade …

Amazon 'East India Company': Economic Nationalism Under Modi Is Out of Control
3 years, 3 months ago

Amazon 'East India Company': Economic Nationalism Under Modi Is Out of Control

The Quint  

After attacking Infosys recently, Panchjanya, an RSS-linked magazine, has now targeted Amazon, calling it the "second generation" of the East India Company and accusing it of corrupt practices. Prime Minister Narendra Modi had backed off from the RCEP — a retreat that ex-Foreign Secretary Shyam Saran called a “short-sighted move” that “left India out in the cold” — because of …

India, UK eye interim pact to help clinch major trade deal
3 years, 6 months ago

India, UK eye interim pact to help clinch major trade deal

Live Mint  

India and the UK are intensifying talks to remove non-tariff barriers and foster greater market access as they work to stitch together the South Asian nation’s first major free trade pact in a decade. The two countries have zeroed in on a list of achievable items that would help the UK showcase the benefits of leaving the European Union while …

Patience please: India’s ASEAN journey has much further to go
3 years, 10 months ago

Patience please: India’s ASEAN journey has much further to go

Live Mint  

Very often, especially after India’s recent refusal to join the Regional Comprehensive Economic Partnership Agreement, we hear that “the ASEAN-India FTA is not good for India”. Bilateral trade between ASEAN and India presently accounts for almost 11% of India’s global trade, up marginally by 1% from 2010-11 to 2019-20. If we add numbers for China, Japan and Korea, then countries …

Exports Dip 17.84 per cent in April-November This Fiscal, Says Commerce Secretary Anup Wadhawan
4 years ago

Exports Dip 17.84 per cent in April-November This Fiscal, Says Commerce Secretary Anup Wadhawan

News 18  

The country's exports declined by 17.84 per cent during April-November this fiscal while imports contracted by 33.56 per cent in the same period, Commerce Secretary Anup Wadhawan said on Wednesday. "In 2020-21,April to November, there has been a decline of 17.84 per cent in our exports…If we exclude gems and jewellery and petroleum, then the decline is lower….In the sectors …

India and ASEAN to expand trade despite RCEP walkout
4 years, 1 month ago

India and ASEAN to expand trade despite RCEP walkout

The Hindu  

November 12, 2020 05:35 pm | Updated 09:45 pm IST - New Delhi India and ASEAN countries said they would explore ways to increase trade between them despite India’s exit from the 15-nation Regional Comprehensive Economic Partnership agreement. The RCEP free trade agreement, which India walked out from a year ago, is expected to be signed on November 15th, between …

India Engaging with ASEAN to Review Free Trade Agreements, Piyush Goyal Informs Parliament
4 years, 3 months ago

India Engaging with ASEAN to Review Free Trade Agreements, Piyush Goyal Informs Parliament

News 18  

India is engaging with the 10-member ASEAN to review the free trade agreement, Parliament was informed on Friday. In a written reply in the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said in the India-ASEAN Economic Ministers Consultations held on August 29, both sides instructed the senior officials to engage to determine the scope of the review. Free trade …

FTAs & the race to the bottom
4 years, 5 months ago

FTAs & the race to the bottom

The Hindu  

The competition among Asian count- ries to win a slice of the export markets China currently controls is intensifying. In a recent development, Vietnam finally ratified a free trade agreement with the European Union, under which more than 70 per cent of Vietnam’s exports to the E.U. But while imposts on imports from Vietnam will fall to zero, those on …

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