สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 3 ธันวาคม 2556

India-ASEAN services FTA may stumble again

The India-ASEAN free trade agreement (FTA) on services and investment, expected to be signed on the sidelines of the World Trade Organization ministerial conference here, might face another delay due to the absence of Thailand, the Philippines and two other ASEAN countries, a senior commerce and industry ministry official said. The trade pact entails greater access to the ASEAN countries - Singapore, Malaysia, Indonesia, Vietnam, Thailand, the Philippines, Cambodia, Laos, Brunei and Myanmar - by Indian professional and a relaxed investment regime. During the Cabinet meeting last week, Finance Minister P Chidambaram and Law Minister Kapil Sibal had expressed their displeasure to Commerce and Industry Minister Anand Sharma for not consulting them on matters related to gaining market access through investment. India and the 10-member ASEAN bloc already have a goods agreement in place since August 2011, providing tariff-free access to a range of product lines such as textiles, pharmaceuticals, chemicals, engineering products, processed food and auto parts, among others. Hence, after signing the deal in services and investment, FTA will be called Comprehensive Economic Partnership Agreement.

(Source: Business Standard)

WTO meet: India rules out any compromise on food security

Ahead of the WTO ministerial conference, commerce and industry minister Anand Sharma is trying to drum up support for India’s position on public stockholding and food security. Sharma has also expressed disappointment that many developed countries were paying only “lip service” to other serious concerns on trade and export subsidies that are a part of the so-called Bali package. India wants Trade facilitation, removing obstacles to the movement of goods across borders by simplification of Customs procedures, removing red tape etc. India is willing to discuss trade facilitation, with a permanent solution being to allow food procured for public stockholding from farmers in developing countries to not be deemed as prohibited subsidies. India has demanded that the interim solution (peace clause) must be in place till a permanent solution is reached.

(Source: Financial Express, Economic Times)

India must strengthen alliances with developing nations: Assocham

Ahead of the WTO meet in Bali, Assocham has asked the government to strengthen alliances with other influential developing countries including China, South Africa, Indonesia and Brazil, to ward off pressure that may be built by rich nations on the food subsidy issue. Assocham President Rana Kapoor said that Indian industry would not like the government to make any compromises on food subsidies. India is demanding amendment in the WTO Agreement on Agriculture, under which farm subsidy is capped at 10 per cent. It is feared that India may breach the cap while implementing its food security plan.

(Source: Economic Times)

Apparel exports may touch $60 billion in three years: AEPC

India's apparel exports are likely to more than quadruple and touch the $60-billion mark in the next three years on the back of growing number of orders from western markets like the US and Europe, according to apex apparel body AEPC. Apparel Export Promotion Organisation Chairman A Sakthivel said hat shortage of labour is the biggest bottleneck and the industry wants to address this issue by providing skill training to a large number of people. Indian Textiles Minister K S Rao said that "We have to work to make India a hub of textiles exports. I don't think it is difficult to achieve the number one position. We have the potential and capacity, we just need to take care of skill training and power availability."

(Source: Economic Times)

Economic Section

Royal Thai Embassy