ISDS Case Map
India
India is expected to open its market for US farm, pharmaceutical and communication technology products. The US would in return restore partially benefits accorded to Indian exporters under the Generalized System of Preferences.
China, he said, had never pursued a trade surplus and the trade imbalance with India was “largely the result of differences in their industrial structures.
India continues to grapple with the dilemma of wanting to stay in the group while protecting the interests of its vulnerable sectors and is yet to reach an understanding with other members, including China, on market opening commitments.
The ‘limited’ trade package was given final shape when Commerce Minister Piyush Goyal met US Trade Representative Robert Lighthizer in New York Monday.
A Free Trade Agreement with the US will likely result in the amendment of the Patents Act, which could impact the Indian pharma industry.
In the recent round of negotiations for RCEP, India pushed to include the Automatic Trigger Safeguard Mechanism, or ATSM, which will automatically increase levies once imports cross a given threshold
Both countries are frantically working on ways to resolve long-disputed trade issues, especially relating to medical devices, agriculture, and e-commerce.
Steel companies, already reeling under a demand slump, will be against another stumbling block in the form of the proposed RCEP trade agreement.
The Trump administration is racing to announce limited trade deals with Japan and India, as President Trump tries to score some wins amid a protracted trade fight with China
Joining the RCEP could be counter-productive given the existing inefficiencies of Indian producers. These need to be fixed first.
