India is pushing for easier rules for travel to work across borders as protectionism in West rises
India is looking forward to making a global pitch in order to make it easier to travel for work across borders at international fora like the G-20 and BRICS . This moves come in order to protect Indians from the protectionist wave in the West which has unsettled the India’s services industry.
According to a ministry official, The plan is to approach other countries and get potential partners to support its proposed paper on Trade Facilitation in Services (TFS) that seeks to remove unnecessary regulations on trade in services.
“G-20 (Group of 20 major economies) and BRICS (association of emerging economies of Brazil, Russia, India, China and South Africa) are the right fora to build advantage of coalitions,” the official told a daily.
Currently, the sector accounts for about 60% in the country’s GDP and 28% of total employment. The commerce ministry along with the World Bank is also planning on holding a workshop on TFS next month to support awareness building and better understanding of the issue.
“Officials from the OECD will also be part of the workshop,” a person aware of the programme, told a daily. India had submitted the concept note on reducing regulations involved in trade in services in September last year to the World Trade Organisation (WTO). The note is currently being legally vetted.
News Source: www.businessinsider.in
You might also like
Travel portal Yatra to merge with NASDAQ-listed Terrapin, deal valued at $218 million
Yatra Online, Inc. (“Yatra”), a rapidly growing India-based online travel agent, and Terrapin 3 Acquisition Corporation (NASDAQ: TRTL; “TRTL”), announced that they have entered into a definitive agreement to combine
Economic Survey points out three threats to India’s progress
the Economic Survey 2017, which was presented in Parliament today, has listed three challenges that might impede India’s progress—ambivalence about property rights and the private sector; deficiencies in the state
India, Nepal to set up a joint forum to promote tourism
Indo-Nepal Tourism Forum to be set up for mutual consultation and promotion of tourism, said India’s Tourism Minister. Ramayana and Buddhist circuits to be promoted through common branding by India
