Commerce department seeks Cabinet nod to expand Asia-Pacific Trade Pact

NEW DELHI: The commerce department has sought cabinet approval to expand the Asia Pacific Trade Agreement (APTA), focusing on areas that will encourage domestic manufacturing as part of

the Make in India initiative. As part of the exercise, India is focussing on importing raw materials and intermediaries from APTA member countries and, in return, giving higher tariff concessions on more products. The increased import of raw materials, intermediaries and components such as machine to ..