The slower growth of the manufacturing sector for the month of October comes on the back of core sector growth registering a contraction of more than five per cent for the month of September driven down by an across the board contraction barring fertilisers. The survey report indicates that the slowdown will persist for a longer period.
PM Modi is expected to take the political call on India joining RCEP on November 4.
A WTO panel ruled that Indian export subsidies are prohibited and should be removed.
Piyush Goyal's statement assumes significance in the wake of India negotiating the (RCEP) trade pact, whose talks are expected to conclude next week amid opposition from various industries & ministries, and is also in talks with the US for a trade deal.
The department held an inter-ministerial meeting to discuss further opening up in sectors, especially where 100% FDI is not allowed on the automatic route.
An advisory group has put forth simpler regulatory and tax framework for overseas investment funds.
This comes after India had on September 30 blocked a US request to set up a panel to settle its disagreement over the issue of retaliatory import tariffs on 28 US products.
India is ranked 63 among 190 countries in ease of doing business index released by the World Bank, this time 14 notches high. Piyush Goyal is optimistic about India making it into top 25 and ensures a stable business policy to achieve the target.
In an interview with The Economic Times, the commerce minister talked about the alleged violation of FDI norms by ecommerce companies, the progress on the new trade deal with the United States and India' s stand on the RCEP.
If the UK fails to get the new Brexit bill through Parliament in time, the default legal position remains for Britain to leave the economic bloc without a deal on October 31.
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