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Duty Free Tariff Preference
Duty Free Tariff Preference (DFTP) is a unilateral non-reciprocal preferential tariff scheme provided by the Government of India for the least developed countries (LDCs). The scheme was officially introduced on 13 August 2008. India was the first developing country to introduce a preferential tariff program for the LDCs. Under the DFTP scheme, 98.2% of product categories originating from LDCs are offered duty free and preferential treatment. Only 1.8% of product categories imported into India from LDCs are subject to regular duties. As of March 2018, 31 LDCs benefit from the scheme. India made US$ 9.93 billion worth of imports from LDCs in 2016. India also provides preferential market access to Bangladesh, Bhutan, Maldives and Nepal under the South Asia Free Trade Arrangement, and to Laos and Bangladesh under the Asia-Pacific Trade Agreement. Background The World Trade Organization Hong Kong Ministerial Declaration of December 2005 required all developed countries, and developi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unilateral
__NOTOC__ Unilateralism is any doctrine or agenda that supports one-sided action. Such action may be in disregard for other parties, or as an expression of a commitment toward a direction which other parties may find disagreeable. As a word, ''unilateralism'' is attested from 1926, specifically relating to unilateral disarmament. The current, broader meaning emerges in 1964. It stands in contrast with multilateralism, the pursuit of foreign policy goals alongside allies. Unilateralism and multilateralism represent different policy approaches to international problems. When agreement by multiple parties is absolutely required—for example, in the context of international trade policies—bilateral agreements (involving two participants at a time) are usually preferred by proponents of unilateralism. Unilateralism may be preferred in those instances when it is assumed to be the most efficient, i.e., in issues that can be solved without cooperation. However, a government may also h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developing Country
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The term low and middle-income country (LMIC) is often used interchangeably but refers only to the economy of the countries. The World Bank classifies the world's economies into four groups, based on gross national income per capita: high, upper-middle, lower-middle, and low income countries. Least developed countries, landlocked developing countries and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries. There are controversies over this term's use, which some feel it perpetuates an outdated concept of "us" and "them". In 2015, the World Bank declared that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Agreements Of India
India is party to free trade agreements (FTAs) and other trade agreements with many countries and trade blocs, and is negotiating with many others. According to the Ministry of Commerce and Industry, "India is a late, and cautious, starter in concluding comprehensive preferential tariff agreements covering substantially all trade with some of its trading partners." The negotiations for the Comprehensive Economic Partnership Agreement between India and the United Arab Emirates were completed in 88 days, which was the shortest time span for any free trade agreement signed by India. Overview There are different types of trade agreements that enable preferential market access between India and signatory countries or trade blocs - preferential trade agreements (PTA), free trade agreements (FTA), and Comprehensive Economic Cooperation Agreements (CECA) and Comprehensive Economic Partnership Agreements (CEPA). A preferential trade agreement (PTA) involves two or more partners ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certificate Of Origin
A Certificate of Origin or Declaration of Origin (often abbreviated to C/O, CO or DOO) is a document widely used in international trade transactions which attests that the product listed therein has met certain criteria to be considered as originating in a particular country. A certificate of origin / declaration of origin is generally prepared and completed by the exporter or the manufacturer, and may be subject to official certification by an authorized third party. It is often submitted to a customs authority of the importing country to justify the product's eligibility for entry and/or its entitlement to preferential treatment. Guidelines for issuance of Certificates of Origin by chambers of commerce globally are issued by the International Chamber of Commerce. Fundamentals of certificate of origin Concept of certificate of origin It is noted that Chapter 2 of the Revised Kyoto Convention provides a strict definition to "certificate of origin". The scope of this concept c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Letter Of Intent
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a contract, legally binding agreement. The concept is similar to a Heads of agreement (law), heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form ''Letter of Intent'' may be used in legal writing, but only when referring to a specific document under discussion. LOIs resemble short, written contracts, often in tabular form. They are not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as those governing non-disclosure agreement, non-disclosure, governing law, Exclusive exclusivity or a Covenant (law), covenant to negotiate in good faith. A LOI may sometimes be interprete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Commerce And Industry (India)
The Ministry of Commerce and Industry administers two departments, the Department of Commerce and the Department for Promotion of Industry & Internal Trade. The head of the Ministry is a Minister of Cabinet rank. Minister of Commerce and Industry The Minister of Commerce and Industry is the head of the Ministry of Commerce and Industry and one of the cabinet ministers of the Government of India. The first Minister of Commerce and Industry of independent India was Syama Prasad Mukherjee. The current Minister is Piyush Goyal of the Bharatiya Janata Party. Goyal took over from Suresh Prabhu on 31 May 2019. Past Ministers: Industry Past Ministers: Commerce Present : Commerce & Industry List of Ministers of State Department of Commerce The department is entrusted with formulating and implementing the foreign trade policy and responsibilities relating to multilateral and bilateral commercial relations, state trading, export promotion measures, and development and reg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harmonized System
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries. Structure The HS is organized logically by economic activity or component material. For example, animals and animal products are found in one section of the HS, while machinery and mechanical appliances are found in another. The HS is organized into 21 sections, which are subdivided into 99 chapters. The 99 HS chapters are further subdivided into 1,244 headings and 5224 subheadings. Section and Chapter titles describe broad categories of goods, while headings and subheadings describe products in more detail. Genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governmentsUnderstanding the WTO' Handbook at WTO officia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Delhi
New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House, and the Supreme Court of India. New Delhi is a municipality within the NCT, administered by the NDMC, which covers mostly Lutyens' Delhi and a few adjacent areas. The municipal area is part of a larger administrative district, the New Delhi district. Although colloquially ''Delhi'' and ''New Delhi'' are used interchangeably to refer to the National Capital Territory of Delhi, both are distinct entities, with both the municipality and the New Delhi district forming a relatively small part of the megacity of Delhi. The National Capital Region is a much larger entity comprising the entire NCT along with adjoining districts in neighbouring states, including Ghaziabad, Noida, Gurgaon and Faridabad. The foundation stone of New Delhi was l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India–Africa Forum Summit
The India–Africa Forum Summit (IAFS) is the official platform for the African-Indian relations. IAFS will be held once in every three years. It was first held from April 4 to April 8, 2008 in New Delhi, India. It was the first such meeting between the heads of state and government of India and 14 countries of Africa chosen by the African Union. Libya and Egypt's heads of state did not attend. Agenda Rising oil and food prices were the top concerns for the African and Indian leaders during the summit. India has pledged to support at the level of health and education related projects in Africa Topics * agricultural sector * trade * industry and investment * peace and security * promotion of good governance and civil society * information and communication technology African representation * Chairperson of the African Union (AU) * Chairperson of the AU Commission * Chairpersons of the eight recognised Regional Economic Communities (REC's) * Chairpersons of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
