India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT, WTO

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RajeshA
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India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT, WTO

Post by RajeshA »

I noticed that there wasn't any dedicated thread to discuss the issue of India's Trade Agreements with other countries. If I am mistaken, please merge the thread.

So I opening this thread for the purpose of discussing those trade agreements, that India is negotiating or has already signed in the past, and even those which may be of interest.

Since often the subject matter and India's concerns are similar in all these trade agreements, it would be best if they are discussed in one place.

I hope people post history, news on trade agreements here and also discuss them.

Thanks
RajeshA
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by RajeshA »

X-Posting from India-US Strategic News and Discussion Thread
Third: There is a visionary goal out there, even if neither country is ready to embrace it yet: a free trade agreement. The delegation should at least get people talking about the idea – and why it could make the India-U.S. partnership truly strategic.
There has been little in the news about a India-US Free Trade Agreement, possibly because India is afraid what impact it could have on the Indian Agricultural Sector, Insurance and Banking and Retail. USA itself is probably skeptical about something like this at a time when they think too many jobs are going to India anyway.

Considering that India would soon have a population of over 1.7 billion and a rising standard of living where even the poorer sections of the population would have higher expectations regarding what comes on to their thali, as well as the issue of keeping inflation of food items as low as possible so that the poor people do not get squeezed on our way to higher growth, we should consider this FTA.

Also now that the US banks have taken a huge hit and do not really inspire confidence in their business model and their products, instead of American financial companies invading us, it can be the other way round.

As far as retail is concerned, I am of the opinion that big retail chains which sell everything should be completely discouraged in the Indian market, even those from India. We should leave some space in the Indian market for the small man, the small businessman to make a living. So a WalMart would not stand a chance in India.

So is an India-US FTA possible, desirable?
somnath
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by somnath »

^^^A Free Trade Agreement (FTA) is about trade, not investment flows...Investment flows are sometimes covered under CECA-type arrangements, but "preferential investment access" is a rare commodity, and hardly ever entered into...If India allows FDI into multi-brand retail, it will not be only for US companies, but for any foreign investor...FDI is "automatic" for most sectors, and there is no need for an FTA for any investor to come in...

Coming to FTAs in general, in an ideal world, if the world could arrive at a fair trade regime under WTO, there would be no requirement for one...Unforunately, the world's not ideal, and hence FTAs/RTAs drive a lot of trade flows...Typically, an "ideal" FTA is one where each party maxes its comparative advantages...Somehow, market forces do tend to drive in that direction - and the experience with FTAs has been uniformly good, across the board...

For an Indo-US FTA, the question really is - what is in it for both parties? In terms of markets, US is the "freest" market in the world, with the lowest tariff barriers..India on the other hand, has significant tariff barriers on a range of goods and services...US would be asking for greater access into Indian agri and consumer markets...India on the other hand, can ask for lowering of non-tariff barriers...It will be a tedious, laborious exercise..But usually worth it..
RajeshA wrote: am of the opinion that big retail chains which sell everything should be completely discouraged in the Indian market, even those from India. We should leave some space in the Indian market for the small man, the small businessman to make a living. So a WalMart would not stand a chance in India
then you should start with banning Kishore Biyani and Sunil Mittal! Anyway, the impact on small retail of organised retail is minimal in India - there is an authoriative impact analysis on that- refer to the "Economy thread"...
RajeshA
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by RajeshA »

Published on Jul 22, 2011
By Saifur Rahman
Free trade agreement will help boost UAE-India economic ties: Gulf News
Dubai: A free trade agreement (FTA) between India and the UAE would help increase bilateral trade flow between the two countries, a top Non-Resident Indian businessman said.

"An agreement will not only help boost trade, but also give UAE investors greater access to growing Indian markets," Sudhesh K. Aggarwal, President of Indian Business Leaders Forum (IBLF), Chairman of Indian Business and Professional Council (IBPC) Sharjah and Chairman and Managing Director of Giant Group of Industries, told Gulf News in an exclusive interview.

India-UAE bilateral trade rose from only $180 million in the 1970s to a whopping $43 billion per annum in 2009-2010, making the UAE India's largest trading partner. This is made up of $23.97 billion worth of exports and $19.49 billion worth of imports from the UAE.

India's trade with the UAE represents about 9.1 per cent of India's total trade valued at $467.12 billion in 2009-2010.

About 13.41 per cent of India's total exports land in the UAE — that serves the GCC, Iran, Iraq and parts of the Central Asian countries.

"Similarly, a FTA will help the UAE attract more Indian investment in the UAE's key economic areas. It will also help the large NRI investors who have been contributing to the UAE economy for decades," he said.
RajeshA
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by RajeshA »

Published on Sep 01, 2011
India 'critical to America's success': Hindustan Times
Describing India as a friend "critical to America's success", a leading US presidential aspirant has underlined the need for Washington to immediately start discussion with it on a bilateral free trade pact. "Washington must also immediately start discussions with India to end in a bilateral free trade agreement strengthening our relationship with a friend who will prove to be critical to America’s success in the 21st century," said Republican presidential aspirant Jon Huntsman.

A former governor of Utah, Huntsman served the first two years of the Obama administration as top American diplomat to China. "It is in the strategic interest of the United States to reach trade agreements with the world’s largest economies that share our values," he said in a major policy speech on “job plan” in the country.
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by A_Gupta »

Not sure where to put this:
http://www.thehindubusinessline.com/fea ... 065611.ece
As we mark a decade of 3(d) and pressure from multinational companies increases on India to change its IP (Intellectual Property) laws, there is reason enough to protect and celebrate section 3(d) and not allow it to be dismantled.

Not just to keep medicines affordable for people in India and overseas, but to ensure only true innovations are rewarded with patent protection.
panduranghari
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by panduranghari »

Take this for whatever you deem it to be worth.

Once we move from a current account deficit/surplus based system to a settlement based system, all these trade agreements will need to be renegotiated taking into account the revaluation of global currencies.

In the world today there are only three assets, gold, oil and currencies. The paper currencies, so long admired and accepted are now in a war of self destruction. They will consume each other in an end battle of "I'm the last man standing but have lost all use as a unit of value". Almost all trade agreements have been negotiated based on the supposed value of currencies.
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by A_Gupta »

"Australia, New Zealand back Japan to bat for FDI in Indian eCommerce sector"
http://www.businessinsider.in/Australia ... 514020.cms
Australia and New Zealand have joined Japan in order to persuade India to open its rapidly growing eCommerce sector for foreign investments. These countries want to include the sector in the 16-nation regional trade pact that's being negotiated.

What's India's take on it? It has opposed the pact so far as there is a need to protect the homegrown online retailers. On the other hand, eCommerce companies have sought to get around the restriction on overseas capital by turning themselves into marketplaces that connect vendors with buyers. This has led to protests by brick-and-mortar retailers, who claim that they're facing stiff curbs on taking foreign money. This information was revealed in an Economic Times report.

The eCommerce business is likely to reach $300-billion mark by 2030.

Meanwhile, companies such as eBay and Amazon have been lobbying that the Indian government should open eCommerce to foreign investment.

Eyeing huge profits, other countries would also put pressure on India in this regard during June 8-13 talks in Kyoto. As per the financial daily, member countries aim to conclude the Regional Cooperation and Economic Partnership (RCEP) by the year end.

"We firmly back Japan's proposal for a separate chapter on e-commerce," said an Australian government official who didn't wish to be named. "India is a growing economy and eCommerce is proving to be its strength. We are not expecting a very ambitious deal on eCommerce at the moment but let us have a chapter that could be scaled up over the years."

There is a rising global interest in India's eCommerce market that Goldman Sachs says will grow 15-fold from the current $20 billion to $300 billion. It cited "hyper growth in affordable smartphones, improving infrastructure, and a propensity to transact online" as key drivers.

India does not allow Foreign Direct Investment (FDI) in the business-to-consumer (B2C) segment but 100 % FDI is allowed in business-to-business (B2B) transactions, marking the difference in rules for retail and wholesale. It allows 49% FDI in multi-brand retail but with restrictions.

The government is under pressure to come out with a policy on the e-commerce sector in four months as brick-and-mortar retailers have filed a case in the Delhi High Court on the issue.

Further, Japan had floated a discussion paper in February to include eCommerce as a separate chapter in the RCEP negotiations. India is not in favour of this.
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by A_Gupta »

Putting this in trade agreements, not sure where else to put it:
MCAA:
"Black cash: India in global pact for automatic exchange of financial info"
http://bharatpress.com/2015/06/03/black ... cial-info/
India and 5 different nations Wednesday joined a multilateral settlement for automatic exchange of financial info, a transfer that may assist it fight tax evasion and cope with the issue of black cash.

Australia, Canada, Costa Rica, Indonesia and New Zealand are the opposite 5 nations that signed the Multilateral Competent Authority Agreement (MCAA) in Paris for automatic exchange of financial account info.

The complete quantity of nations which have agreed to share financial info has now gone as much as 60, together with Switzerland.
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Re: India's Trade Agreements - SAFTA, FTA, CECA, CEPA, BIT,

Post by A_Gupta »

http://inserbia.info/today/2015/07/indi ... join-apec/
India Invited To Join APEC
The Asia Society Policy Institute (ASPI) – led by former Australian Prime Minister Kevin Rudd – has invited India to join Asia-Pacific Economic Co-operation (APEC), a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region.

The ASPI – which tackles major policy challenges the Asia-Pacific region is confronting in security, prosperity, sustainability and develops common norms and values for the region – recently made a strong case for India’s membership in the APEC, saying that the forum could help the South Asian country achieve its economic potential and strengthen its ‘Act East Policy’. ASPI also formed a task force earlier this week to prepare a strategy for helping India become the 22nd member of the forum.
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