Expansion of India – Chile Preferential Trade Agreement (PTA)
Expansion of India – Chile Preferential Trade Agreement (PTA) 
An agreement on the expansion of India–Chile Preferential Trade Agreement (PTA) was signed between India and Chile in a meeting held between Ms. Rita Teaotia, Commerce Secretary and Mr. Andrés Barbé González, Ambassador, Embassy of Chile on 6th September, 2016.
A Preferential Trade Agreement (PTA) between India and Chile was earlier signed on March 8, 2006 and came into force with effect from August, 2007. In the original PTA concluded in March 2006, India’s offer list to Chile consisted of 178 tariff lines the Margin of Preference (MoP) ranging from 10%-50% at 8-digit level and Chile’s offer list to India consisted of 296 tariff lines with MoP ranging from 10% - 100% at 8-digit level.
Under the expanded PTA, Chile has offered concessions to India on 1798 tariff lines with Margin of Preference (MoP) ranging from 30%-100% and India has offered concessions to Chile on 1031 tariff lines at 8-digit level with MoP ranging from 10%-100%. India’s export basket with Chile is diversified and keeping in view the wide variety of tariff lines offered by Chile, the expanded PTA would immensely benefit India.
Among the LAC countries, Chile was the third largest trading partner of India during 2015-16. India‘s bilateral trade with Chile stood at US$ 2.64 billion with exports at US$ 0.68 billion and imports at US$ 1.96 billion respectively during 2015-16(P). India’s exports to Chile are diverse which consist of transport equipment, drugs and pharmaceuticals, yarn of polyester fibres, tyres and tubes, manufacture of metals, articles of apparel, organic/inorganic and agro chemicals, textiles, readymade garments, plastic goods, leather products, engineering goods, imitation jewellery, sports goods and handicrafts. Major items of Import from Chile are copper ore and concentrates, iodine, copper anodes, copper cathodes, molybdenum ores & concentrates, lithium carbonates & oxide, metal scrap, inorganic chemicals, pulp & waste paper, fruits & nuts excluding cashews, fertilizers and machinery.
India has friendly relations with Chile. Chile has been cooperating with India at the International fora and expansion of India Chile PTA will enhance the trade and economic relations between the two countries. The expansion would be an important landmark in India-Chile relations and consolidate the traditional fraternal relations that have existed between India and LAC countries.
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CAG Readies to Meet Big Data Challenges Shri Shashi Kant Sharma Inaugurates Centre for Data Analytics
The CAG’s Centre for Data Management and Analytics (CDMA) is going to play a catalytic role to synthesise and integrate relevant data into auditing process. This was stated by the Comptroller and Auditor General of India while inaugurating the Centre here today. He said the CDMA will help to enhance the efficiency and accuracy of evidence in the audit process and will be a game changer in the field of public audit.
A brainchild of Shri Shashi Kant Sharma, the CDMA aims to build up capacity in the Indian Audit and Accounts Department in Big Data Analytics to exploit the data rich environment in the Union and State Governments. Shri Sharma had anticipated the challenges posed by such developments in the Government and realised opportunities arising from data analytics. This initiative focuses development of in-house capacity covering the entire workforce working under him. Shri Sharma also indicated that this was only the first milestone in the field of Big Data Analytics. He also hinted that the Centre will be located in a separate building once an appropriate location is identified.
Prior to the setting up of the Centre, the CAG brought out a Big Data Management Policy for the Indian Audit and Accounts Department. A Task force was set up to study the policy document and recommend its implementation. The Task Force in May 2016 recommended setting up this Centre. The Centre is to be equipped with latest analytic tools and infrastructure to assist and guide the Data Analytic Groups constituted in all audit offices of CAG across the country through setting up the data management protocols and steering the data analytic capacity of the department.
This initiative of CAG of India, puts it amongst the pioneers in institutionalising data analytics in government audit in the international community. CAG of India is also a member of an international project on ‘Data Analytics’ under the Working Group on IT Audit of International Organisation for Supreme Audit Institutions.
An agreement on the expansion of India–Chile Preferential Trade Agreement (PTA) was signed between India and Chile in a meeting held between Ms. Rita Teaotia, Commerce Secretary and Mr. Andrés Barbé González, Ambassador, Embassy of Chile on 6th September, 2016.
A Preferential Trade Agreement (PTA) between India and Chile was earlier signed on March 8, 2006 and came into force with effect from August, 2007. In the original PTA concluded in March 2006, India’s offer list to Chile consisted of 178 tariff lines the Margin of Preference (MoP) ranging from 10%-50% at 8-digit level and Chile’s offer list to India consisted of 296 tariff lines with MoP ranging from 10% - 100% at 8-digit level.
Under the expanded PTA, Chile has offered concessions to India on 1798 tariff lines with Margin of Preference (MoP) ranging from 30%-100% and India has offered concessions to Chile on 1031 tariff lines at 8-digit level with MoP ranging from 10%-100%. India’s export basket with Chile is diversified and keeping in view the wide variety of tariff lines offered by Chile, the expanded PTA would immensely benefit India.
Among the LAC countries, Chile was the third largest trading partner of India during 2015-16. India‘s bilateral trade with Chile stood at US$ 2.64 billion with exports at US$ 0.68 billion and imports at US$ 1.96 billion respectively during 2015-16(P). India’s exports to Chile are diverse which consist of transport equipment, drugs and pharmaceuticals, yarn of polyester fibres, tyres and tubes, manufacture of metals, articles of apparel, organic/inorganic and agro chemicals, textiles, readymade garments, plastic goods, leather products, engineering goods, imitation jewellery, sports goods and handicrafts. Major items of Import from Chile are copper ore and concentrates, iodine, copper anodes, copper cathodes, molybdenum ores & concentrates, lithium carbonates & oxide, metal scrap, inorganic chemicals, pulp & waste paper, fruits & nuts excluding cashews, fertilizers and machinery.
India has friendly relations with Chile. Chile has been cooperating with India at the International fora and expansion of India Chile PTA will enhance the trade and economic relations between the two countries. The expansion would be an important landmark in India-Chile relations and consolidate the traditional fraternal relations that have existed between India and LAC countries.
*****
CAG Readies to Meet Big Data Challenges Shri Shashi Kant Sharma Inaugurates Centre for Data Analytics
The CAG’s Centre for Data Management and Analytics (CDMA) is going to play a catalytic role to synthesise and integrate relevant data into auditing process. This was stated by the Comptroller and Auditor General of India while inaugurating the Centre here today. He said the CDMA will help to enhance the efficiency and accuracy of evidence in the audit process and will be a game changer in the field of public audit.
A brainchild of Shri Shashi Kant Sharma, the CDMA aims to build up capacity in the Indian Audit and Accounts Department in Big Data Analytics to exploit the data rich environment in the Union and State Governments. Shri Sharma had anticipated the challenges posed by such developments in the Government and realised opportunities arising from data analytics. This initiative focuses development of in-house capacity covering the entire workforce working under him. Shri Sharma also indicated that this was only the first milestone in the field of Big Data Analytics. He also hinted that the Centre will be located in a separate building once an appropriate location is identified.
Prior to the setting up of the Centre, the CAG brought out a Big Data Management Policy for the Indian Audit and Accounts Department. A Task force was set up to study the policy document and recommend its implementation. The Task Force in May 2016 recommended setting up this Centre. The Centre is to be equipped with latest analytic tools and infrastructure to assist and guide the Data Analytic Groups constituted in all audit offices of CAG across the country through setting up the data management protocols and steering the data analytic capacity of the department.
This initiative of CAG of India, puts it amongst the pioneers in institutionalising data analytics in government audit in the international community. CAG of India is also a member of an international project on ‘Data Analytics’ under the Working Group on IT Audit of International Organisation for Supreme Audit Institutions.
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