That the economies of Asia, in particular China, India and Australia, are responsible for whatever growth is currently taking place on the planet is now acknowledged and underlined by the West as well as by multilateral financial agencies like the International Monetary Fund (IMF) and the World Bank. The 3.5 per cent growth in the American economy in the July-September quarter has enthused many into believing that the worst of...

The Indo-Asean FTA provides an opportunity to be more engaged with the region This is an important week for Prime Minister Manmohan Singh. Over the weekend, at the Fourth East Asia Summit in Thailand, he will witness the final fruition of the second most important foreign policy initiative he took during his first term in office — the India-Asean Free Trade Agreement. This should ensure he will be in better...

Concerted efforts have been made to give a new lease of life to the Doha Round of WTO negotiations. The question before us is: what is the most relevant role which this revived round of trade talks can play? If we take an overview of the entire international trade scene and the changes that have taken place ever since the WTO was created (including the negotiations which preceded the WTO’s...

On the day when the commercial release of Bt Brinjal was recommended by the Genetic Engineering Approval Committee, the Indian Agricultural Research Institute (IARI) denied that Pusa Basmati 1121 rice (exported to the Middle East) was genetically modified as reported in a section of the Iranian Press. Obviously, the genetically modified rice has no export market, and attempts to brand Pusa 1121 as such were done on trade considerations to...

Government may cut the import duty on rice, says official  Paddy and sugarcane production may be lower owing to the floods Agriculture Commissioners of affected States assessing the situation Crucial paddy, onion, sugarcane, and horticulture crops have been lost in the floods in Karnataka, Andhra Pradesh and Maharashtra, though the quantum of loss is being assessed. Paddy and edible oil crops have already been affected by the drought in the northern States,...