The Hindu Editorial Analysis : 22nd August 2023

The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

Consessional rate.

• India and Asean the country’s second largest trading partner after the European Union on Monday agreed to review their 13- year-old trade agreement.
• The move follows repeated attempts from New Delhi, which believes the agreement is not benefiting Indian exporters with commerce minister Piyush Goyal calling it “most ill-conceived”.
• India’s concerns stem from some of its exports, such as steel products, not getting full benefit of the treaty Besides, there are complaints of Chinese products, such as set top boxes, finding their way into India through an Asean nation taking advantage of the concessional duty rate of fered under the trade treaty.
• “Today, in a significant development, India and Asean agreed for a time-bound review of the Asean-India Trade in Goods Agreement.
• Both sides agreed for a quarterly negotiation schedule, aiming to complete the review in 2025…
• The FTA review is expected to expand and diversify India’s exports to the Asean region and address the present tariff asymmetry,” the commerce department said on Monday
• A review, which is usually done every year or two, has been long overdue as the agreement did not mention a date.
• One of the concerns with the agreement was that the Manmohan Singh government, due to pressure from the external affairs ministry, agre ed to split the goods and services negotiations, which resulted in India not extracting the maximum benefit.
• But the exercise is fraught with the risk that Asean may demand further liberalization from India in return of agreeing to some of its demands.
• Besides, unlike the European Union, the 10-nation Asian trading bloc sees each member offer a different set of concessions while see kinga uniform proposal from its partner.
• India had agreed to eliminate tariffs on 70% of the products from Asean countries.

Practice Questions:

• India’s concerns stem from some of its exports, such as steel products, not getting full benefit of the treaty.Explain.
• Why is India going to vanish tariffs on 70% of the products from Asean countries?

Important Vocabs:

• Disperse– to separate and go in different directions
• Utterly– something similar to completely
• Animous– a feeling of hate or anger towards someone or something
• Insurrection– violent action against the rulers of a country
• Provoke– to cause a particular feeling

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