DWARKA GETS ₹292-CRORE DEVELOPMENT PUSH
Australia and New Zealand for supplying milk and milk products.
In recent months, Asean members have proposed the text of RCEP could be finalised and signed this year, with contentious issues such as tariffs and market access to be taken up in an annexure. India has mooted an “auto trigger” safeguard that would come into play when imports, especially from China, crossed a certain threshold.
Under the proposed agreement, India is expected to reduce or eliminate duties on about 74% to 80% of goods imported from China. A Mint report said that China is unwilling to offer tariff elimination in 90% of traded goods.
The department of commerce has been consulting all stakeholders on matters related to RCEP and has had more than 100 consultations in the past six years that covered a wide spectrum of the economy, including agriculture, chemicals, petrochemicals, pharmaceuticals, plastics, textiles, ferrous and non-ferrous metals, automobiles and machinery, one official said.
Industry feedback has been taken on key issues such as rules of origin, sanitary and phytosanitary (SPS) and technical barriers to trade (TBT), anti-dumping, countervailing duties, safeguards and intellectual property rights, this official added.
“What to talk about small farmers, even leading milk cooperatives have expressed concern over RCEP. Those who want India to sign RCEP may argue that giving access to a small country like New Zealand would not make much difference, but once they come in, the entire [business] cooperative character of Indian milk supply chain will collapse. Small farmers with one or two cows would be the worst victims,” a second official said.
“RCEP will have impact at the village-level. It will impact farmers, panchayats and local bodies. Therefore, India needs to do a lot more intense negotiations,” said a third official who was aware of the negotiations.
At a time when an affiliate of its ideological mentor, the RSS, has raised concerns over India signing the RCEP, the Bharatiya Janata Party (BJP) on Monday began consultations on the issue with stakeholders.
BJP general secretary (organisation) BL Santosh and the spokesperson on economic affairs, Gopal Agarwal, met stakeholders from the industry to seek their views at a roundtable at the party headquarters.
“RCEP, FTA and trade relationships are very important in the global arena for the domestic industry, economy and common men. Therefore, BJP took an initiative NEW DELHI: Housing and urban affairs minister Hardeep Singh Puri on Monday laid the foundation stone for development projects worth ₹292 crore in Dwarka. An 18-hole golf course, cycle tracks, two new sports complexes and foot overbridges are part of the Delhi Development Authority plan for upgrading the infrastructure in the subcity.
DDA has planned an 18-hole golf course at Sector 24 and two sports complexes at sectors 8 and 23. The facilities will be developed within two years. The golf course will be developed at a cost of ₹62 crore, while the sports complexes will cost ₹105 crore in total. DDA has also planned a cycle track in Sector 11 at a cost of ₹9 crore. The cycling tracks will be operational by April next year.
DDA has also will construct four foot overbridges connecting Sector 1 with Sector 7 , Madhu Vihar with Sector 4 and 5, NSIT with Sulahkul Mandir and District Court with General Hospital. to call stakeholders from industry, think tanks, activists and opinion makers to get their feedback on various concerns and the way forward. Many had concerns but there are many segments that want the country to move ahead in this direction with proper negotiations,” Agarwal said.
According to a person aware of developments, the participants made three proposals – to put off the RCEP for some time, to have an agreement with safeguards, or to not sign at all. The issue of “trade asymmetry” and India’s trade deficit of almost $55 billion with China were also raised.
The Swadeshi Jagran Manch (SJM), RSS’S affiliate on economic affairs, has urged the government not to sign the agreement, pointing out it will hurt India’s interests in sectors such as dairy.
Last Saturday, SJM national co-convener Ashwani Mahajan said in a statement the commerce ministry is trying to sell an “autotrigger” safeguard mechanism as “one shot protection” for domestic small businesses and farmers from the adversities of RCEP.
The SJM argued that since RCEP requires members to cut their tariffs on a majority of products to zero, India would be adversely affected as it already has a trade deficit with 11 of the 16 nations.