After eight years of negotiation, 15 Asian-Pacific economies including China, Japan, South Korea, Australia, New Zealand and ten members of the Association of South East Asian Nations (ASEAN) concluded the Regional Comprehensive Economic Partnership (RCEP) Agreement during a virtual signing ceremony on the occasion of the 37
th ASEAN Summit in Hanoi, Vietnam, on 15 November 2020. This agreement covers almost a third of the world’s population two billion people and nearly a third of the global GDP 28.9 percent. The negotiations concerning RCEP included trade in goods, services and investment; intellectual property rights; and special and differential treatment to less developed ASEAN member states, among others. The agreement will simplify the customs procedure and rules of origin laws between countries implying reduced potential regulatory frictions for firms and countries for regional supply chains. Previously, a product made in Vietnam that contains Chinese parts, for ex
In such a situation, the pilot has three choices — wait for the storm to pass by, let the plane crash-land and prepare for the worst damages, or show nimble thinking to find the way through the storm. India, under PM Narendra Modi, chose the third option.
India may take a decade to develop fighter jet engine: BN Kalyani, Bharat Forge
Bharat Forge Chairman and Managing Director Babasaheb Neelkanth Kalyani. Photo: Mint
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NEW DELHI :
Bharat Forge Chairman and Managing Director Babasaheb Neelkanth Kalyani is confident that India can develop its own fighter jet engine the lack of which is seen as a reason for the indigenous Light Combat Aircraft taking decades to take shape from the drawing board to the manufacture stage. Kalyani’s estimate is that it could take India about a decade to develop a fighter jet engine with India’s Defence Research and Development Organisation taking the lead. Edited excerpts from an interview.
Push on infrastructure, textile to benefit retailers: Experts
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The focus on ‘Make in India’ and increased custom duties, are also expected to result in promoting domestic manufacturing, improving employment rate, experts said.
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NEW DELHI: The push on infrastructure spends across roads, rural, textile parks and agri-sector support will put more money in the hand of consumers and will drive consumption across categories, experts from retail sector said. In addition, the infrastructure focus will enable companies to expand their rural and urban coverage, further helping drive consumption across the country, enabling the “One India One Market” vision, said Rajat Wahi, partner, Deloitte India.