&w=3840&q=100)
India to raise agri, fisheries, investment facilitation issues at WTO meet
India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said.
The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris.
Commerce and Industry Minister Piyush Goyal will participate in this meeting. He is on a five-day visit to France and Italy from June 1.
The official said that India will raise its concerns on all key issues of the WTO including agriculture (finding permanent solution to the public stock holding); fisheries agreement, investment facilitation proposal, reforms in the WTO and dysfunctional appellate body of the Geneva-based forum.
India is against the move led by countries such as China to push a proposal on investment facilitation at the World Trade Organization (WTO). A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal.
Since 2009, WTO's dispute settlement mechanism is not functioning properly as the US has stalled appointments of members in the appellate body.
Meanwhile, a commerce ministry statement said that during his stay in Paris, Goyal will participate in the informal gathering of trade ministers from countries including the US, Singapore, Saudi Arabia, South Korea, Nigeria, Brazil, and Israel.
"At this crucial forum, he will engage with global counterparts on key multilateral trade issues and articulate the perspectives and priorities of India," the ministry said.
Goyal is also scheduled to hold bilateral meetings with French ministers, including Eric Lombard, Minister of Economy, and Laurent Saint-Martin, French Trade Minister.
The discussions will focus on strengthening the Indo-French economic partnership and exploring new avenues for enhancing trade and investment cooperation.
He will also meet top leadership of major French companies such as Vicat, Total Energies, L'Oreal, Renault, Valeo, EDF and ATR, besides attending the India-France Business Round Table and the India-France CEO Forum.
As part of the visit, the minister will hold a series of high-level bilateral meetings with key international partners.
These include the UK's Secretary of State for Business and Trade, Jonathan Reynolds; Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong; and Saudi Arabia's Minister of Commerce, Majid bin Abdullah Al-Kasabi.
Goyal will also engage with Israel's Minister for Trade and Investment Nir Barkat; Nigeria's Minister for Trade, Industry and Investment Jumoke Oduwole OON; Commissioner for Trade and Economic Security Marcos Sefcovic; and Brazil's Foreign Minister Mauro Luis Iecker Vieira.
"These dialogues are aimed at advancing strategic economic cooperation and fostering mutually beneficial partnerships across regions. They will also provide significant impetus to India-EU FTA (free trade agreement) negotiations," it said.
India and the EU are looking at concluding an early harvest trade agreement by July.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
35 minutes ago
- Hindustan Times
Pune Airport beats own record with 212 flight ops in single day
On Sunday, June 1, Pune Airport set a new record of handling a total 212 flight operations in a single day, outdoing its own previous record of handling 208 flight operations in a single day on January 12 this year. This landmark figure included 106 departures and 106 arrivals, with over 36,000 passengers passing through the airport in a single day as they headed to both domestic and international destinations. Airport director Santosh Dhoke expressed enthusiasm over the development saying, 'The overall flight operations on Sunday were executed smoothly. This is a very positive sign for us, indicating the steady growth of air traffic movement at Pune Airport. It is the highest number of flight movements recorded in a single day in our history, and it reflects the growing connectivity and demand among passengers. With 35 domestic and three international destinations currently linked to Pune - including two flights to Dubai, two to Bangkok, and one to Singapore, the city is becoming a significant aviation hub.' Dhoke emphasised that the operations were conducted efficiently without any major issues or delays, contributing to a seamless travel experience for passengers. 'There was no hassle and no operational constraints, and flight delays were minimal. We are optimistic that this number will continue to rise in the near future, especially as more destinations get connected and the frequency of flights increases,' he said. According to information shared by the Airports Authority of India (AAI) Pune, the flight operations were conducted smoothly throughout the day from the Lohegaon-based Pune Airport. A total of 212 flights operated to and from 35 domestic and three international destinations. Of these, 106 flights arrived in Pune from major cities such as Delhi, Chennai, Kolkata, and others, bringing in more than 18,000 passengers. The remaining 106 flights departed to various locations, carrying over 18,000 passengers to their respective destinations in India and abroad. Rohit Varma, an information technology (IT) professional and frequent flyer headed to Bengaluru, said, 'I travel frequently for work, and I've seen how Pune Airport has evolved over the past few years. But what I experienced on Sunday was truly impressive. Despite the large number of flights, the check-in process was smooth, security lines were well managed, and there were no delays. It was surprising to see so many flights operating seamlessly in one day. The addition of more destinations and international connections like Dubai and Singapore is a big plus for business travellers like me. It saves time and eliminates the need to travel to Mumbai for certain flights. Pune is definitely stepping up as a major travel hub.'
Time of India
40 minutes ago
- Time of India
Stocks in news: Vodafone Idea, Jindal Stainless, ITC, HCL Tech, Grasim Industries
The market started the week on a volatile note and ended almost flat, continuing its consolidation phase. In today's trade, shares of Vodafone Idea , Jindal Stainless , ITC , HCL Tech Grasim Industries among others will be in focus due to various news developments. Biocon Biocon received approval for diabetes drug Liraglutide in India. Vodafone Idea Vodafone Idea (VIL) said it is engaged with the Centre to find a solution to the AGR issue, with CEO Akshaya Moondra stating he sees no reason why the government should be constrained in any way to offer relief. Jindal Stainless Jindal Stainless said it has acquired a 33.64% equity stake in a special purpose vehicle (SPV) to develop a 282 MW hybrid renewable energy project for its manufacturing operations. Grasim Industries Grasim Industries announced that its Finance Committee has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 1,000 crore. Live Events ITC US-based investment firm GQG Partners has increased its stake in ITC Ltd, one of India's largest consumer goods companies, through a bulk deal on May 28. HCL Tech HCL Tech announced a strategic partnership with UiPath to accelerate Agentic Automation for global enterprises. Frontier Springs Frontier Springs bags order worth Rs 93 crore from Rail coach factory, Kapurthala and Modern coach factory, Raebareli.
Time of India
an hour ago
- Time of India
Asian stocks start cautious, dollar holds drop
In geopolitics, Russia and Ukraine wrapped up a second round of talks in Istanbul that failed to bring the two sides closer to ending the war, but laid the groundwork for a new exchange of prisoners. Asian shares began cautiously following a tech-driven rally in US stocks, while bonds remained steady. Investors are closely monitoring trade war developments, including extended tariff exclusions and potential US-China talks. Japan faces debt market pressures, and Russia-Ukraine talks concluded without a resolution, setting the stage for a prisoner exchange. Market volatility is expected amid trade tensions and geopolitical concerns. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Asian shares were off to a tepid start at the open Tuesday after a rebound in big tech drove US stocks higher.A regional stock index swung between small gains and losses while equity-index futures for the US dipped 0.2%. Bonds were steady in early Asian trading and the dollar was little changed after hitting its lowest since 2023 in the last session. Technology shares helped lift the S&P 500 0.4% at the start of what's historically one of its quietest months for extended gains early Tuesday, while gold was steady after clocking its biggest daily gain in four are keeping a close eye on the latest twists in the trade war after a slew of headlines Monday. The US extended the exclusion of Section 301 tariffs on some Chinese goods until Aug. 31. President Donald Trump's administration wants countries to provide their 'best offer' on trade negotiations by Wednesday, Reuters reported. The US is pushing for a call between Trump and Xi Jinping after the two countries accused each other of violating a trade agreement reached last month.'We continue to expect market volatility as investors digest fresh tariff headlines and incoming US economic data ,' said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. 'Fiscal worries remain, and geopolitical tensions are heating up.'Trump has long said that direct talks with Xi were the only way to resolve differences between the nations, but the Chinese leader has been reluctant to get on the phone with his American counterpart — preferring that advisers negotiate key issues. The last known conversation between Trump and Xi took place in January before the US president's Trump economic adviser Kevin Hassett signaled Sunday the White House was anticipating a call this week with the Chinese Japan's top trade negotiator Ryosei Akazawa is considering returning to the US for another round of trade negotiations this week as expectations mount for a deal as early as this month.'The markets keep shrugging off simmering trade war risks,' Kyle Rodda, a senior market analyst at 'While it has slipped down the list of priorities for market participants, below trade policy, fiscal policy and macroeconomic data, a very solid set of quarterly results from mega cap tech is enticing investors into the market.'In Japan, attention will once again shift to a debt market sale Tuesday that may ramp up pressure on the government to adjust its borrowing plans and calm investor on the heels of auctions last month that exposed a lack of demand, the finance ministry will sell ¥2.6 trillion ($18 billion) of 10-year geopolitics, Russia and Ukraine wrapped up a second round of talks in Istanbul that failed to bring the two sides closer to ending the war, but laid the groundwork for a new exchange of prisoners.
