Financial Daily from THE HINDU group of publications
Tuesday, Dec 16, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 16, 2003 |
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Opinion
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Letters Free trade agreements
This is with reference to the editorial "Blame not the FTA" (Business Line, December 15). The editorial rightly points out that to hold the FTA responsible for the sorry state of affairs is barking up the wrong tree. In fact, FTA, in the globalisation era, is sine quo non for promoting investment and trade. Given that India is a fairly well protected market, with comparatively high duty rate, there could be hardly any room for unwarranted fears over FTAs. For instance, the signing of an FTA between Sri Lanka and India has added a new dimension to the opportunities Indian companies will have in Sri Lanka, and also enable them to take advantage of the duty concessions. Instead of searching for ideal investment partners, FTAs with regional countries offer immediate advantages, particularly for geographically contiguous regions such as Sri Lanka and India. Any cynical view on FTAs will cost Indian economy better opportunities for trade and investments. C. Ramesh Keeramangalam (TN) *** The editorial has rightly pointed out the meaninglessness of blaming FTAs for the ills of India's plantation sector. In the present stalemate at the World Trade Organisation, most of the countries resort to regional treaties and FTAs. And India cannot, and should not, be left behind. As explained by the Commerce Minister, Mr Arun Jaitley, each country may gain in some commodities and lose in others. FTAs also narrow down the trade balance, which is a welcome sign. Also, as pointed out in the editorial, Vietnam could be a model for India. And the "buoyant economy this year should be ideal for taking up the much needed revamp". Jacob Sahayam Thiruvananthapuram
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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