With global trade increasingly becoming the dominant sector of India's economy, exporters, importers and trade policy experts were anticipating important trade-related initiatives in the Budget 2006-07.
India and Chile will sign a preferential trade agreement (PTA). The two sides will sign the agreement tomorrow in the presence of the commerce and industry minister, Mr Kamal Nath.
Indian government has agreed to provide a 70% tax concession for 2,802 goods exported from Sri Lanka to India, says Minister of Trade, Commerce, Consumer Affairs and Marketing Development Jeyaraj Fernandopulle, appraising the Indo-Sri Lanka Free Trade Agreement as a success to Sri Lanka.
John Howard is hoping to secure a series of breakthrough agreements covering defence, science and aviation during a four-day visit to India that will focus on forging stronger commercial ties with the emerging powerhouse.
India and the United States could look into the possibility of a free trade agreement in the long term to boost bilateral economic relationship, a top US trade official said today.
The South African Customs Union is in talks with the Indian government for signing a Free Trade Agreement (FTA) to enhance the trade and business between both the countries.
Although US President George W Bush's India visit that officially started on Thursday is hardly expected to grab headlines in terms of business and economic deals between the two countries, both are looking forward to several new initiatives to boost bilateral commercial ties expected to be announced in the next few days.