TRADE NEGOTIATIONS have been likened to a game of poker. Players do not reveal their hand too early because it would give away their game to the opposite side and invite undue pressure from global and domestic lobbies.
As India's trade negotiations with the EU and the UK pick up momentum after being in the doldrums for years, there are plenty of statements from both sides that the talks are going well but all sides are holding their cards close to their chest. Over the past two months, ministers from both sides have been announcing that negotiations are being expedited to the benefit of both sides. Such anodyne statements cover the nitty-gritty of trade talks which are gruelling for developing nations like India that need rich country markets for their products. This turns into an impossible balancing act for Indian negotiators who have to weigh the benefits of giveaways in terms of a concession that would hurt their domestic industries and their citizens.
This exercise becomes more complex in the case of free trade agreements (FTAS) which are more comprehensive, covering investments too. Rich nations use FTAS to seek more concessions from developing countries, especially on intellectual property rights (IPRS) that are required by the World Trade Organization. The bigger headache for New Delhi right now is Brussels, since the European Commission has recently notified its Carbon Border Adjustment Mechanism or CBAM, a measure that will affect a range of India's metal exports to the EU, starting October this year. More products will be affected down the line.
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Denne historien er fra July 16, 2023-utgaven av Down To Earth.
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In leading role again
MOVIES AND WEB SERIES ARE ONCE AGAIN BEING SET IN RUSTIC BACKGROUNDS, INDICATING A RECONNECT BETWEEN CINEMA AND THE COUNTRYSIDE
One Nation One Subscription comes at a huge cost
As top US universities scrap big deals with top scientific publishers, India’s ONOS scheme seems flawed and outdated
Return of Rambhog
Bid to revive and sell the aromatic indigenous paddy variety has led to substantial profits for farmers in Uttar Pradesh's Terai region
Scarred by mining
Natural springs of Kashmir drying up due to illegal riverbed mining
Human-to-human spread a mutation away
CANADA IN mid-November confirmed its first human case of avian influenza, with a teenager in the British Columbia being hospitalised after contracting the H5N1 virus that causes the disease. The patient developed a severe form of the disease, also called bird flu, and had respiratory issues. There was no known cause of transmission.
True rehabilitation
Residents of Madhya Pradesh's Kakdi village take relocation as an opportunity to undertake afforestation, develop sustainable practices
INESCAPABLE THREAT
Chemical pollution is the most underrated and underreported risk of the 21st century that threatens all species and regions
THAT NIGHT, 40 YEARS AGO
Bhopal gas disaster is a tragedy that people continue to face
A JOKE, INDEED
A CONFERENCE OF IRRESPONSIBLE PARTIES THAT CREATED AN OPTICAL ILLUSION TO THE REALITY OF A NEW CLIMATE
THINGS FALL APART
THE WORLD HAS MADE PROGRESS IN MITIGATING EMISSIONS AND ADAPTING TO CLIMATE IMPACTS. BUT THE PROGRESS REMAINS GROSSLY INADEQUATE
