PM for hard look at FTA

A P Lodha, managing director, Indorama-Thailand, feared that 8216;8216;vested interests8217;8217; were holding up the final agreement. 8216;8216;This is the third Prime Minister who is holding the dialogue but it is still not clear when the FTA will be signed. All the spadework has been done and the MoU for the early harvest scheme signed. The new Government has to push this forward,8217;8217; he said.

Others agreed that the Indian Government was holding up negotiations.

Jaspal Singh, vice-president, Indo-Thai Chamber of Commerce, pointed to the lesser duty they had to pay to import products from China compared to India. 8216;8216;If the FTA was signed quickly, it would help both Indian and Thai industry immensely,8217;8217; he said.

Shivnathrai Bajaj, chairman, Rembrandt Hotels, said the list of 82 categories of items for the early harvest scheme had been cleared last year in the presence of prime ministers and commerce ministers of both countries.

But it still has not been ratified into a formal agreement, he rued. 8216;8216;If the new government again talks of a rethink, there may be even more delay. The FTA will benefit both countries,8217;8217; he said.

Sachin Mehta, president, Indian-Thai Diamond and Colorstone Association, voiced the concern of hundreds of Indian traders involved in the diamond business. 8216;8216;There is a huge potential of trade in this sector between India and Thailand but the duties are too high. A consolidated FTA agreement is needed to iron all these problems out.8217;8217;

Manmohan Singh, meanwhile, described the gathering in his speech as a 8216;8216;shining example of dual citizenship8217;8217;.