 "The Magnificent 7 US tech giant")
The agreement that India and the EFTA, comprising Iceland, Switzerland, Norway and Liechtenstein, have signed is of interest for what it reveals about how free trade agreements (FTAs) are increasingly being designed. Trade negotiations now include “behind-the-border” requirements, such as harmonised regulations that can make trade easier. India has innovated by including a different kind of “behind-the-border” requirement. It has conditioned the lowering of tariffs on the mobilisation of large-scale investment by the EFTA countries. But the broader question must be how the benefits of trade with such small, high-income countries can be scaled up across the Indian economy. EFTA countries have companies that have cutting-edge technology but lack scale. India can provide scale – as long as it is seen as a reliable destination in terms of intellectual property protection. Joint research and development will be in the interest of both geographies, the top edit points out. Read it here
In other views:
Akash Prakash examines whether the current level of concentration of tech stocks in the US markets has the makings of a bubble. Read it here
Gurbachan Singh explains why regulatory interventions related to stock market valuations are not always undesirable. Read it here
The second edit says the Supreme Court rightly denies SBI an extension on revealing details of electoral bonds. Read it here
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