If India has to have a globally competitive industry, the government must emulate China on creating the right ecosystem
Centre wants such independent assessment to be framework for all future FTA talks, similar to the BIT
New Delhi will have to negotiate on the tricky services trade issue as pressure from manufacturing behemoth China and the Asean grouping mounts on a speedy deal
India has asked for 20 years period to remove these duties
It remains to be seen how quickly the new government is able to involve itself in the discussions considering the various issues
The RCEP is touted as a significant step to bring the three largest economies of Asia - China, India and Japan - into a regional trading bloc, along with ASEAN member countries
The summit saw nations affirm that 'talks are at final stage'
Swift conclusion of trade negotiations in India's interest
India was represented by Suresh Prabhu at the ministerial negotiations, to be followed by the Leaders' Summit on Wednesday. Narendra Modi will be participating in the summit
Trade ministers of the 16-member RCEP are meeting to continue efforts to resolve the issues are hindering the conclusion of the negotiations
Minister of State for Commere and Industry C R Chaudhary and senior officials from the ministry will attend the meet, the official said
In a bid to fast-track the deal, most nations have agreed to ease the investor-state-dispute settlement (ISDS) clauses
Called the Regional Comprehensive Economic Partnership (RCEP), the trade accord includes the 10 members of the Association of Southeast Asian Nations (ASEAN) and the world's No.2 economy, China
The RCEP is a proposed pact between 10 Asean economies
The country's own history shows that openness to trade builds a competitive industrial sector, boosts exports and promotes growth
The RCEP is a proposed pact between the 10 Asean economies and six others with which the grouping currently has free-trade agreements
After all, the RCEP is unquestionably the next major frontier in economic integration
The 20th round of negotiations of RCEP will start in Incheon, South Korea
RCEP, is a 16-nation trade pact that includes the ASEAN, along with China
India received better proposals on goods, services during last round of negotiations in Japan