Free Trade Policy Review

The two sides started talks on the trade pact just three months ago, and their haste in completing the deal shows Prime Minister Modi's determination in building stronger links with the Middle East

The minister was responding to a question on India's trade negotiations with the UK and the European Union (EU) becoming more complicated

The comments were made during the final session of India's seventh Trade Policy Review (TPR) which concluded on Friday at the WTO in Geneva.

Revised Foreign Trade Policy calls for move away from subsidies

After being postponed repeatedly for 5 straight months, the government will come out with the mid term review of the foreign trade policy (FTP) on 5 December.The five year FTP is in effect since April 1, 2015 and aims to facilitate exports so that the country manages to send out $ 900 billion worth of goods and services by 2020. It also aimed at increasing India's share of world exports to 3.5 per cent, from 2 per cent.The mid term review of the FTP is aimed to take stock of changing aspects of global trade, rationalize trade norms and bring into play new policies to boost trade facilitation which may include tweaks in the export promotion schemes. This was supposed to coincide with the July 1 rollout of the Goods and Services Tax (GST) regime.At the last assessment meeting of the FTP, senior officials mentioned that the December deadline was difficult to meet. But work has picked up after a recent push from Commerce and Industry Minister Suresh Prabhu, senior ministry officials ...