China expects to import products and services valuing over $10 trillion through such fairs.
The council has been setup for “vision planning in design, engineering and manufacturing of lighter, smarter, value added, safe and faster premium bicycles which are comparable with global standards for exports and domestic market”, according to the commerce and industry ministry.
Exports fell by 1.11% to $26.38 bn in October on account of contraction in sectors like petroleum and leather.
Growers and exporters showcased the products of Arunachal Pradesh like Mandarin oranges, kiwi, pineapple, king chilly, large cardamom, organic products, other fresh fruits, vegetables, flowers and spices.
Launched in 2015, Service Exports from India Scheme is an incentive scheme that offers reward at 5% or 7% of net foreign exchange earned and covers service providers located in India.
Commerce Minister Piyush Goyal will discuss outstanding bilateral issues with USTR when the two meet on November 13. This is Goyal’s second visit to the US in the last two months and comes close at the heels of India opting out of the Regional Comprehensive Economic Partnership (RCEP) trade agreement
Commerce & industry minister warns of strict action if online marketplaces don’t comply with rules.
This comes against the backdrop of groups such as CAIT and AIMRA complaining to the govt about online deep discounting and alleging that ecommerce marketplaces violated FDI norms during the festive season. The govt wants to address the concerns of small retailers over online discounting and see how both sides can work together to their mutual benefit.
Immediate issues that need attention are likely to be discussed during the visit in the run up to a larger trade deal, sources said. While India and the US have ruled out any structural reason or major issue holding back a bilateral trade deal, the two have been embroiled in a series of trade spats, both bilaterally and at the World Trade Organization.
Absence of RCEP will lead to uncertainty, would want India to be in final pact: New Zealand trade minister
“We would love to see India as part of the RCEP agreement. We understand the sensitivities here domestically and we’re committed, all the 15 countries, to work with India before the final agreement can be reached,” said Damien O’Connor. India has said it remains open for further talks on the RCEP if its demands are met.
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