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"Implementation of proposals in the WTO is challenging. The previous agreement to temporarily remove intellectual property rights on COVID-19 vaccines and discuss extending the waiver to diagnostics and therapeutics appears unlikely to be implemented
India is actively engaged in ongoing FTA negotiations with multiple countries and blocs, including Oman, the UK, the EU, Canada, and various Indo-Pacific Economic Framework (IPEF) partner countries. The negotiations focus on market access, compliance with environmental and labour standards, and the reduction of high import duties. India currently has 13 functional FTAs and aims to tap into the large and rapidly growing market of 1.4 billion people. The apparel sector expects game-changing opportunities with FTAs with the UK and the EU, while the gem and jewellery sector anticipates a significa...
A deft handling of these two situations has helped India stay neutral and even gain some dividends, but the harsh reality is that these two wars have aggravated global economic uncertainty. Their fallout on the Indian economy is inevitable even though some economists whom ET spoke to argue that tailor-made policy measures can limit the damage.
Jayant Dasgupta, Former WTO Envoy believed that the UK cabinet reshuffle will not hamper India-UK FTA talks.
The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.