As part of a set of recommendations for greater trade and investment liberalization among member countries of the G20, the EEPC India stressed stability in currency regimes.
“Once this is done, issues of inflation control will come on their own. Further, efforts should be made to solve all disputes through Government to Government discussions rather than wars and skirmishes,” the EEPC India said in its knowledge paper submitted to the Trade and Investment Working Group which is currently meeting in Mumbai.
The working paper noted that there should be cohesion between industrial policy, manufacturing policy, and trade policy.
“Tariff should be the main instrument of protection and should be imposed by having the lowest on raw materials and highest in final goods so that value addition happens,” said the knowledge paper presented by EEPC India Chairman Mr. Arun Kumar Garodia.
In a separate knowledge paper presented during the session on the Scope of Technological Alliances with G20 countries, the EEPC India stated that technological alliances among G20 nations can help to foster and gain a better understanding of each other’s cultures, values, and governments enabling them to better collaborate in future.
It is further said that small and medium-sized enterprises (SMEs) can benefit from international technology transfer and collaborations in a variety of ways.The EEPC India knowledge paper emphasized that international collaboration can help SMEs access the latest technologies from around the world, reach new markets, and expand their network.
“By partnering with leading companies and researchers, SMEs can gain access to the latest technologies, new markets, valuable networks, and innovative business models,” said the knowledge paper.
