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Business EconomyPosted at: Dec 15 2018 9:36AM


The recent unilateral measures and counter measures by some members, the deepening impasse regarding the appointment of members in the appellate body and contentious debate on development has led the Department of Commerce to propose major initiatives on WTO reforms like the enhanced role of the secretariat and strengthening of Dispute Settlement Mechanism which India has co-sponsored with EU.
India desires for a more participatory engagement in the WTO with like-minded countries in order to defend India’s interest.

Second RCEP leaders’ summit was held on November 14, 2018, where leaders acknowledged substantial progress in the negotiations. During the RCEP Ministerial Round meeting on November 12-13, 2018, three more chapters were concluded, taking the total chapters successfully concluded so far to 7 out of 16.

As per Commerce Minister’s directions, three think-tanks are being engaged for undertaking comprehensive study on India’s approach to RCEP.
ICRIER, CRT and IIM (Bangalore) and CWTOS have been selected for the purpose.
A High Level Advisory Group (HLAG) has been set up DoC to make recommendations on pursuing opportunities addressing challenges and finding a way forward amidst emergent issues in the contemporary global trade scenario.

The HLAG will consider ways for boosting India’s share and importance in global merchandise and services trade, managing pressing bilateral trade relations and mainstreaming new age policy making.

The terms of reference (ToR) of the HLAG are to examine the prevailing international trade dynamics, including, but not confined to, the rising protectionist tendencies, especially on the part of major economies, non-engagement by some countries on outstanding trade negotiation issues and commitments, including the Doha Development Agenda, and their insistence on pursuing negotiating mandates, in many cases prematurely and without efforts, to build consensus and common understanding.

On new issues and in light of this examination, the HLAG will suggest a way forward for India, taking into account its interests and sensitivities, and provide options for a balanced approach for the global community to build on achievements thus far, in creating a conducive global trade framework and move forward in a harmonious and consensual manner that is acceptable to the larger global community.


IIFT is an autonomous public business school under the Ministry of Commerce and Industry to help professionalise the country's foreign trade management and increase exports by developing human resources, generating, analysing and disseminating data and conducting research.

The Centre for WTO Studies was set up in the year 1999 to be a permanent repository of WTO negotiations-related knowledge and documentation. It was also envisaged that the Centre would evolve into a research unit with interest in trade in general and WTO in particular to finally develop into an independent think tank in the area.

Over the years, the Centre has conducted a robust research programme with a series of papers in all spheres of interest at the WTO. It has also created a specialised e-repository of important WTO documents, especially related to India, in its Trade Resource Centre.

It has been regularly called upon by the Centre to undertake research and provide independent analytical inputs to help it develop positions in its various trade negotiations, both at the WTO and other forums such as Free and Preferential Trade Agreements and Comprehensive Economic Cooperation Agreements.

CRT is an autonomous Think-Tank established by the Department of Commerce under the Centre for Research on International Trade (CRIT) at the Indian Institute of Foreign Trade.

It undertakes research in economics with a focus on trade and investment related issues relevant to international cooperation of India with specific regions and countries, including Latin America, Africa, South Asia, ASEAN, China, EU, Japan, Korea and the US.

Quality Council of India (QCI) is a non-profit autonomous society registered under Societies Registration Act to establish an accreditation structure in the country and to spread quality movement in the country by undertaking a National Quality Campaign.
The QCI is engaged in coal quality testing, assessment under Swachh Bharat Mission, Grievance analysis study and subsequent reform recommendations for the top 40 grievance receiving Ministries and Departments. The Council is also creating a dashboard to monitor quality of project implementation in CPSEs.

The DIPP has initiated the process of formulation of a new Industrial Policy in May 2017 and may get Cabinet approval soon. This will replace the 27-year-old existing policy. Since the last Industrial Policy announced in 1991, India has transformed into one of the fastest growing economies in the world.
With strong macro-economic fundamentals and several path breaking reforms in the last three years, India is equipped to deploy a different set of ideas and strategies to build a globally competitive Indian industry. The new Industrial Policy will subsume the National Manufacturing Policy.

A consultative approach was taken for the formulation of the new policy wherein six thematic focus groups and an online survey on DIPP website have been used to obtain inputs from stakeholders. Focus groups, with members from government departments, industry associations, academia, and think tanks were set up to examine the challenges faced by the industry in specific areas.
The six thematic areas include manufacturing and MSME,technology and innovation, Ease of Doing Business,infrastructure, investment, trade and fiscal policy, and skills and employability for the future. A Task Force on artificial intelligence for India’s economic transformation was also been constituted to provide inputs for the policy.

It is proposed that the new Industrial Policy will aim at making India a manufacturing hub by promoting Make in India. It will also suitably incorporate the use of modern smart technologies such as IOT, artificial intelligence and robotics for advanced manufacturing.
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