Like our Facebook Page

Early Times Newspaper Jammu, Leading Newspaper Jammu
Breaking News :   Alleged gold embezzlement case at Katra Shrine Board remains unattended | BJP in power: Jammu goes leaderless, important issues go missing | Agriculture Deptt holds ‘Coffee-Table book’ meeting in Red Zone | Amid COVID-19 pandemic doctors skip duties in Anantnag | Has PDP patron left party? | SWD Poonch leaves handicapped man in lurch | 25% work completed in 36 months on road supposed to be completed in 18 months | After Dachhan, Kishtwar, Marwah offices, DBO office Warwan also gutted in mysterious fire | With 590 fresh cases COVID-19 caseload in JK reaches 22006, 11 more die | High alert sounded across JK till Independence Day | Curfew ordered in Srinagar on Aug 4, 5 | Brave Hearts distributes free packed water | It’s Lord Ram’s will that I attend Bhoomi Pujan: Babri case litigant Iqbal Ansari | Difficult to predict if India will see second wave of COVID-19: ICMR Chief | Railways stresses on transporting cars by trains to reduce carbon emissions | Ayodhya ceremony: PM, 4 more on stage, 175 Invitees, security code entry | DPEPP 2020: Defence Ministry releases policy draft to make India among leading nation of world in defence sector | Cornered NC wants KPs back | Munish Gupta asks government to step in & solve problems of residents | Why PM Modi stresses to form habit of Washing hands ? | NEW J&K | ANNOUNCEMENT FOR CONSOLATION | 17-year-old boy develops file-sharing app after ban on Chinese apps | SBI dedicate free ambulance to BSS; MP Jugal flags off | JU Organizes national level online photography competition | GGF organises relief camps | Poonch Admin conducts drive against illegal mining, traffic violations | SLSA observes “Vrikshabandhan”-Bond with nature | Minor boy killed, 4 injured as vehicle falls into gorge in Ramban | AJKBBS condoles demise of AIBBS president Kaith | DH Kishtwar first time conducts abdominal surgery involving use of GIA staplers | IHRO demands to fix tution fee during pandemic | BJP women leaders from Kashmir tie Rakhi to Army jawans | Reasi police recover missing girl | 11 year old boy killed over water dispute, accused arrested | Woman dies for want of ambulance in Poonch, authorities assure action | Raid at J&K SCARD Bank: DB directs ACB to file status report | Raid at J&K SCARD Bank: DB directs ACB to file status report | Few bandhs, stone-pelting incidents since abrogation of Article 370 last year: Officials | HC, lower courts to continue hearing through virtual mode till August 15 | Terrorists abducted army solider in Kulgam, search operation underway | COVID-19 impact, KU postpones MBBS exams | Chhari Mubarak of Lord Shiva reaches Amarnath cave for final pooja on Rakshan Bandhan | ‘Was exodus of KPs initiated by then Kashmiri Muslim leadership?’ | COVID-19: Govt evacuates 2,81,351 stranded JK residents; 1,95,308 via Lakhanpur, 86,043 through special trains | Man murdered over PUBG scuffle in R S Pura, three arrested | JKSSB’s Portal records 4,08,520 registrations; 2,08,510 candidates submit online application so far | Day 71: Jammu, Srinagar Airports receive 24 domestic flights with 2,406 passengers | Despite Govt orders, teachers continue to remain attached in DSEJ: Panthers Party | Residents of Vijaypur criticize PDD for erratic power supply | Power shutdown | Amid COVID scare, ‘Raksha Bandhan’ celebrations remain low key affair, sans festivity | While people boycott Chinese products, IPL to retain Chinese sponsors: Omar Abdullah | Restrictions imposed in Kashmir Valley, markets shut | Corporator Anu Bali santiizes entire Ward-24 area after confirmation of positive COVID-19 cases | Back Issues  
news details
Negotiating a Trade Deal with America
Omkar Dattatray12/10/2019 10:14:28 PM
In today's world of globalization and free trade, no country of the world can remain in isolation if it wants economic, social, scientific, cultural and technological development and what not. With this in view India in the year 1991 opened up its economy to foreign multinationals and it made great strides in economic and industrial as well as cultural development. Protectionism is not needed while free trade is the modern mantra and thus there is no place for trade wars with other countries and more so with US. India should ink a trade deal with America as it has a great potential for the development of the country. A trade deal with US will benefit India more than America and as such we should conclude a trade deal with US .But at the same time we should not compromise our vital economic interests while making a trade deal with America. During PM Modi's September visit to America, US president Donald Trump made a sudden appearance at Howdey Modi event in Houston and it was expected that the two world leaders and heads of governments will conclude a trade deal but it was not so and the deal could not take place. However the two countries did not lose hope and in the subsequent visits there was a hope that the two countries will be nearer to a trade deal but it did not happen. It is not good and also not in the interest of the two countries that they did not close a trade deal. In mid-November India's commerce minister Piyush Goyal visited Washington and had talks with the trade representatives of US but the trade deal could not finalize thanks to the rigid stand of the parties concerned. After this US trade delegation visited India and held discussions with Indian leaders and t it was seen as a possibility of trade deal and there were reports that there will be a big breakthrough in their talks and something positive will come out of the trade talks but this meeting also did not produce the required results.
When there is economic slowdown in the world economies a trade deal with US could give a good message to the world and investment will get a boost .It is pertinent to note that since India opened up its economy, the India -US bilateral trade has grown at a great speed .The trade in goods increased from dollar 5 billionin 1991 to nearly dollar 88 billion last year. In fact India was America's 9 th largest goods export market but it does not mean that there are no differences between the trading partners. US always voiced its concern on lack of adequate market accesses and protection of America's intellectual property rights in India. These concerns have never become a wedge in the trade deal between the two countries except during presidential elections. President Bush had imposed tariff's on Indian steal to attract voters ahead of the elections and Trumph has said that he believes that trade wars are good for US economy. The fact is that US is locked in a trade war with China ,Mexico and Canada. It has opened new trade fronts with other countries including India. In the mid of the year US administration intensed the trade dispute with India. It ended the Indian participation in generalized system of preferences which was a big favor to India and against it India raised tariff on 28 US goods but this trade war is not in the interests of the two countries especially India and thus the two countries should sit and remove the hurdles to free trade. The trade war is more against the interests of the Indian economy and all efforts should be made to ink a trade deal. But the talks are continuing and there are talks on tariff concessions on dozens of fruit and nut products and are clause to a deal on medical items. Inspite of this a measure challenge remains so for as the agricultural products are concerned. India should be flexible on its part and budge an inch or two for the sake of the trade deal with US as it will help India to a great extant and all that one can say is that trade wars are not in the interests of the countries and more so in the interest of India and therefore we should negotiate a trade deal with US at an earliest.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
Early Times Android App
BSE Sensex
NSE Nifty
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
J&K Govt. Official website
Jammu Kashmir Tourism
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
Train Enquiry
Jammu Kashmir Bank
State Bank of India
Passport Department
Income Tax Department
IT Education
Web Site Design Services
Jammu University
Jammu University Results
Kashmir University
IGNOU Jammu Center