
Market access issue holds up India-Asean free trade pact
Negotiations on the India-Asean free trade agreement (FTA) are unlikely to witness any progress at the third East Asia Summit (EAS) beginning next week in Singapore.
Negotiations on the India-Asean free trade agreement (FTA) are unlikely to witness any progress at the third East Asia Summit (EAS) beginning next week in Singapore.
Negotiations on the India-Asean free trade agreement (FTA) are unlikely to witness any progress at the third East Asia Summit (EAS) beginning next week in Singapore.
Exporters need not yet lose hope of getting reimbursements for input taxes charged by state governments.
Although the finance ministry has shot down the commerce department’s proposal of making the Centre reimburse such taxes as part of a larger duty reimbursement scheme for exporters being worked out.
India’s problems with the free trade agreement (FTA) being worked out with the Asean notwithstanding, the country is eagerly exploring the possibility of entering into a comprehensive economic partnership agreement (CEPA) with the sixteen East Asia Summit (EAS) members, including the 10 Asean countries, China, Japan, Korea, Australia and New Zealand.
The Indo-Pak initiative to start trading across the line of control faces a setback due to the uncertain political environment in Pakistan.
The commerce department has taken up the issue with the finance ministry and the announcement to include such units is likely to be made when a new package is announced later this month.
Exporters are not only reducing volumes, several units are also shutting shop, especially in the textile and handicraft sectors, leading to layoffs. Being present-able!
The Left is likely to give the green signal for the government to proceed with negotiations with the International Atomic Energy Agency (IAEA) for an agreement on India-specific safeguards.
The government is all set to do away with rules requiring exporters to open bank accounts at every port or airport from which they export in order to obtain input tax reimbursements under the drawback scheme.
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