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Related Keywords: Commerce and Industry Minister, create value chains, enjoy GSP benefits, export in the EU and US, four South Asian countries, Fourth India CLMV Business Conclave, imports are allowed at zero or less duty, Indian manufacturers setup businesses in Myanmar, Nirmala Sitharaman, organised by Department of Commerce and Confederation of Indian Industry

Commerce and industry minister Nirmala Sitharaman at the Fourth India-CLMV Business Conclave organised by the Department of Commerce and Confederation of Indian Industry said that if Indian manufacturers setup businesses in Myanmar, they will enjoy GSP benefits to export in the EU and US.

Hence, the government is encouraging Indian manufacturers to create value chains with four South Asian countries to leverage the benefits doled out by the US and EU to the exporters of less developed countries.

Related Keywords: APTA, APTA enable Indian exporters, Asia Pacific Trade Agreement, Commerce and Industry Minister, countries such as China and Korea, Exchange of tariff concessions, get greater market access, gets the Cabinet’s approval, import duty concessions, including textiles and pharma, MFN rates, Nirmala Sitharaman, sectors

The exchange of tariff concessions under the Asia Pacific Trade Agreement (APTA), gets the Cabinet’s approval on Monday, Commerce and Industry Minister Nirmala Sitharaman told media after the cabinet meeting. The APTA will enable Indian exporters to get greater market access in sectors, including textiles and pharma, in countries such as China and Korea.

Related Keywords: Commerce Minister, India EU summit, India should conclude the EU-India FTA, making some compromises, Nirmala Sitharaman, resume trade negotiations talks, written to EU trade negotiators to suggest dates

Nirmala Sitharaman commerce minister, after returning to India after attending the latest India-EU summit has written to EU trade negotiators to suggest dates when they could resume trade negotiations talks. There is not yet hear from them yet PM Narendra Modi travelled to Brussels for the summit on March 30.

EU officials have unofficially told journalists they wanted India to open up the automotive sector by lowering tariffs to zero before they restart negotiations. India wants to protect the domestic auto industry which has acquired a degree of competitive advantage.

Related Keywords: fabric and garment in China, failed to address, foreign trade policy, framework for increasing exports, generation employment, goods and services, increase value addition, Make in India vision, Minister of state for commerce and Industry, Nirmala Sitharaman, specific issues on textile sector, spinning sector, yarn, zero acces entry

The Foreign Trade Policy (FTP) 2015-2020 which was undraped by Minister of State for Commerce & Industry Nirmala Sitharaman on 2nd April ,2015 provides a framework for increasing exports of goods and services as well as generation of employment and increasing value addition in the country, in keeping with the Make in India vision of Prime Minister.

The local chapter of Indian Chamber of Commerce and Industry, welcomed the policy saying, it has bold initiatives and aims to achieve a compound annual growth rate of 11.5 per cent so as to increase the Merchandise and Services Exports.

Related Keywords: anti-dumping duty, CITI, costs of converting raw material, ICF, Make in India, Nirmala Sitharaman, raw material costs, reduction of excise duty, removal of import duty, revive textile industry, SIMI, SISPA, Texprocil

The Southern India Mills’ Association (SIMA), Confederation of Indian Textile Industry (CITI), Cotton Textiles Export Promotion Council (TEXPROCIL), Indian Cotton Federation (ICF), South India Spinners Association (SISPA) and other stake holders has submitted a joint memorandum to Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce & Industry urging for a cut in duties to revive the industry.