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Barthwal added that the focus is on first resolving core trade issues such as tariff and non-tariff barriers as well as certain regulatory hurdles to ensure speedier outcomes from FTA negotiations.
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Lutnick is a co-chair of Trump's transition team, along with Linda McMahon, the former wrestling executive who previously led Trump's Small Business Administration. Both are tasked with putting forward candidates for key roles in the next administration.
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"There is North-South divide in global trade and standards have started acting as non-tariff barriers," Commerce Secretary Sunil Barthwal added.
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The government has decided to impose import curbs on laptops, personal computers and certain more electronic devices from November 1 on security grounds to reduce imports from nations like China and boost domestic manufacturing.
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Commerce Secretary Sunil Barthwal said negotiators have finalised many things and many aspects are yet to be finalised.
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Despite the grim global outlook, India’s total exports this year will surpass $750 billion comfortably, higher than past trends, said Commerce Secretary BVR Subrahmanyam
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The India-United Kingdom FTA aims to significantly boost trade by reducing tariffs on up to 65 percent of traded goods and 40 percent of services.
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Commerce Secretary Anup Wadhawan said that packaging material should be biodegradable, re-usable and recyclable.
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Ross said the virus, which has spread to at least 15 countries, was "very unfortunate" but that it was also a "risk factor" for businesses weighing up whether to operate in China.
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The Regional Comprehensive Economic Partnership (RCEP), negotiations for which started in November 2012, aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.
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Commerce Secretary Rita Teaotia said the sanctions on Iran were in place for long number of years and there was a partial lifting by the then Obama-administration.
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Commerce Secretary Rita Teaotia said that the sector holds enormous opportunities to boost economic growth of the country and these measures would also help cut transaction costs and time of traders.
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"Exemptions and incentives will go away once the Goods and Services Tax (GST) is implemented. GST and exemptions do not go hand-in-hand," Teaotia said at a session organised by EEPC, FIEO and GJEPC here.
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The decision was taken by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia in its meeting on December 30, an official said.
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"China's economy will stay on a steady course with fairly fast growth. It's still operating in a proper range with a growth rate of 7 percent...Our economy is under pressure but that is part of the path on the way toward growth," the 62-year old leader told US diplomats and corporate leaders at a dinner in Seattle on Tuesday.
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"The most important fact about elevating the dialogue to a strategic and commercial dialogue is to signal that commerce, economics and business are at the centre of the US-India relationship," Arun Kumar, Assistant Secretary of Commerce for Global Markets and Director General of US and Foreign Commercial Service told agency.
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The decision was taken by the Board of Approval (BoA) for SEZ, chaired by Commerce Secretary Rita Teaotia, a Commerce Ministry official said. The proposals which got the approval include those of HCL IT City Lucknow, Loma IT Park Developer and North Mumbai International Commodity Township.
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Commerce Secretary Rita Teaotia said three large pacts are being negotiated currently - Regional Comprehensive Economic Partnership (RCEP) agreement, Trans Pacific Partnership (TPP) and Trans-Atlantic Trade and Investment Partnership (TTIP) -- and it's important for India to be part of at least one.
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Contracting for the eighth month in a row, India's exports slipped 10.3 percent in July to USD 23.13 billion, hit by global slowdown and a dip in crude oil prices, which in turn impacted the value of petroleum products.
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TFA seeks to simplify Customs procedures and rules, increase transparency and reduce transaction costs for traders.
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The SPVs would help domestic firms set up projects in CLMV countries. India is focusing on these four countries as they are one of the fastest growing economies in the region and holds huge potential for investments. These nations have been transiting from central planning to the market economy.
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Furthermore, 17 special economic zone (SEZ) developers, including Navi Mumbai SEZ Pvt, Shantha Biotechnics and Electronics Corporation of Tamil Nadu, have sought time from the government to implement their respective projects, which are at different stages of implementation.
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US Under Secretary of Commerce for International Trade Stefan M Selig will meet Commerce Secretary Rita Teaotia and also discuss ways to further enhance bilateral trade and investments. The meeting will also prepare ground for Prime Minister Narendra Modi's visit to the US, planned for next month.
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It is learnt from sources that the Commerce Ministry has asked individual state governments to draw up their own foreign trade policy. This move will help attract more foreign investment into the country.
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From the US side, the dialogue, the announcement for which was made in New Delhi in January during the India visit of US President Barack Obama, would be co-chaired by Secretary of State John Kerry and the Commerce Secretary Penny Pritzker.
