ISDS Case Map
India
India is under pressure from the Asian countries for relaxation in the rules of origin, commonly referred to as RORs.
Ever since the Free Trade and Preferential Trade Agreements (FTA/PTA) between India and its neighbours have come in to force, spices that are not even grown in these countries are landing here as produce of those nations.
Bangladesh is keen to sign a bilateral free trade agreement (FTA) with India.
India's vanaspati industry, already plagued by excess capacity, has been cast into deeper gloom lately by trade agreements that have opened the way for cheaper imports from neighboring Sri Lanka and Nepal.
The Dabhol settlement process is almost complete with US-based Bechtel Corp finally informing the Indian side that it's willing to settle and not proceed with international arbitration.
The Prime Minister's Trade and Economic Relationship Committee has decided to go slow on bilateral trade agreements with Washington and Brussels. Even in the limited context of services, the government would rather remain unget-at-able to the two largest trading partners of the country in the medium term. Much less would New Delhi harbour the idea of entering into more comprehensive economic agreements covering trade in goods, investment and financial services with the twosome.
The India-Singapore CECA which will be effective from August 1, '05 is reckoned to be forerunner for similar such agreements which are now being finalised and are close to fruition.
Prime Minister Manmohan Singh and visiting Singapore Prime Minister Lee Hsien Loong, on Wednesday, signed the much awaited Comprehensive Economic Co-operation Agreement (CECA).
Much though economic integration is desirable, the SAARC nations will first have to create a politically harmonious subcontinent, and that is a formidable task. The ball is now in India's court. It must take frantic efforts to wipe out elements of mistrust, shun big brotherly attitude and help restore confidence among its neighbours.
