The Trans Pacific Partnership (TPP) is a trade agreement between 12 countries in the Asia-Pacific region that aims to deepen economic ties and foster trade to boost growth by slashing over 18,000 tariffs. The agreement could create a new single market like the EU with its collective population of 800 million people, accounting for 40% of world trade. For the TPP to enter into force, at least 6 member countries representing over 85% of the combined GDP must ratify it.

1. TRANS PACIFIC PARTNERSHIP
By: Harveer Singh
harveersinh@gmail.com
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2. TPP
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3.  The pact aims to deepen economic ties between
these nations, slashing tariffs and fostering trade to
boost growth.
 Member countries are also hoping to foster a closer
relationship on economic policies and regulation.
 The agreement could create a new single market
something like that of the EU.
 some 18,000 tariffs would be affected.
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4. Collective population of about 800
million - almost double that of the
European Union's single market.
The 12-nation would-be bloc is already
responsible for 40% of world trade.
If this has not happened before 4
February 2018, it will enter into force
after ratification by at least 6 states,
which hold together a GDP of more
than 85% if the GDP of all signatories.
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5. Tariffs on US manufactured goods
and almost all US farm products
will go almost immediately once
the deal is ratified.
Countries would also to co-
operate on wider issues such as
employment practices, intellectual
property and competition policies. 5
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6. ISSUES
Investor-state dispute
settlement (ISDS)
Food and Environment
Safety
Health/Medicines
Job Loss
No exit clause. 6
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7. 7
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8. 8
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9. WHAT INDIA SHOULD DO?
Should go ahead with India-EU
FTA
Concluding RCEP
Blocking effort of these mega
blocks to bypass
 Traditional Knowledge
 WTO rules on Labor, environment,
public procurement etc 9
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10. THANK YOU.
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11. SS TARAPORE
By: Harveer Singh
harveersinh@gmail.com
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12. SS Tarapore, served as deputy
governor at RBI. He worked
under C Rangarajan, the then RBI
Chairperson.
The mutual understanding and
respect led them to reform India’s
financial sector and put it on a
sound footing. 12
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13.  After retiring, he chaired two committees on full
capital account convertibility and one on how to
streamline the RBI.
 Between 1997 and 2016, he wrote and lectured on
a scale that is hard to emulate.
 He remained steadfast in his belief that RBI knew
what it was doing and ought to be left alone
(Autonomy) to get on with its job, which was
maintaining the monetary stability of India.
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14. CAPITAL ACCOUNT CONVERTIBILITY
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15.  Freedom to convert local financial assets into foreign
ones at market-determined exchange rates.
 Leads to free exchange of currency at lower rates and an
unrestricted mobility of capital.
 India currently has full convertibility of the rupee in
current accounts such as for exports and imports.
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16.  The Capital can be of any entity/type: Some of
these are
 Foreign Direct Investment (FDI)
 ADRs and GDRs by Indian Companies
 ECBs
 G-SECs
 Joint Ventures/ Subsidiaries
 Disinvestment
 Foreign Venture Capital Investment (FVCI)
 FIIs
 Commodity Hedging
 Overseas Investment by Indian Mutual Fund
 Resident’s borrowings in Foreign Currency
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17. However, India’s capital
account convertibility is not
full.
There are ceilings on
government and corporate
debt, external commercial
borrowings and equity.
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18. DEBATE
 Inflow of foreign investment increases, and
transactions are much easier and occur at a faster
pace.
 It also initiates risk spreading through diversification
of portfolios.
 It could destabilise an economy due to massive
outflow of the country.
 It could cause currency appreciation/depreciation
and worsen balance of trade.
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19.  Real liberalization was initiated in 1991 aftermath
balance of payment crises.
 Rangarajan Committee report outlines the reforms
in the external sector.
 Recommendations
 dismantling of trade restrictions
 transition to market determined exchange rates
 gradual opening of capital account
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20. 1997 S.S.TARAPORE COMMITTEE-I
 Provided the initial roadmap for the liberalisation of
capital account transactions.
 A set of preconditions to be achieved prior to
liberalisation of capital account.
 fiscal deficit to GDP ratio has to come down from a
budgeted 4.5 per cent in 1997-98 to 3.5% in 1999-2000.
 Inflation (3-5%)
 Bring down NPAs to 5% and CRR 3%
 Debt Service Ration 20% ( Then it was 25%)
 It was the time when banking sector reforms were
also instigated on the proposition of Narasimhan
committee.
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21.  2000: FEMA over FERA- All the current account
transactions are permitted under FEMA and no
prior permission of RBI is required for any such
transactions, while there remain restrictions on
capital account.
 Under FEMA some capital account transactions are
completely permitted, some are totally prohibited
while some are allowed within a fixed ceiling.
 Sectoral rules have also been shaped and enforced
with FEMA rules.
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22. 2006: TARAPORE COMMITTEE II
 It also did not recommended unlimited openings of
Capital account but preferred a phased
liberalisation of controls on outflows and inflows.
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23. The committee suggested 3
phases of adopting the full
convertibility of rupee in capital
account.
 First Phase in 2006-7
 Second phase in 2007-09
 Third Phase by 2011.
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24. Allow NRIs to invest in Capital
Market
Give Tax benefit to NRI deposit
Prohibit FIIs from investing in P-
Notes
Raise ceiling on ECB for
automatic route.
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25. SHOULD INDIA GO FOR FULL CAPITAL
ACCOUNT CONVERTIBILITY ?
Looking at the fragile
economic structure and
underlying problems with
the free capital flow in world
economy, India must be
cautious.
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26. THANK YOU.
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27. INTELLECTUAL PROPERTY
INDEX BY GLOBAL
INTELLECTUAL PROPERTY
CENTRE (GIPC)
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28.  Released by U.S. Chamber of Commerce’s Global
Intellectual Property Center (GIPC)
 There are 6 Categories and 30 Criteria.
 Categories include patent, copyright and trademark
protections, enforcement, and engagement in
international treaties
 India remains at the bottom of the Index for the
fourth year in a row.
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29. The 38 economies benchmarked
in the 2016 Index accounts for
nearly 85 per cent of the global
GDP.
In BRICS Russia ranked 20th,
China (22nd), South Africa (26th)
and Brazil (29th).
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31. WHAT INDIA’S WEAKNESSES ARE?
 The use of compulsory licensing (CL) for
commercial and non-emergency situations, and the
expanded use of CL being considered by the Indian
government.
 Poor application and enforcement of civil remedies
and criminal penalties.
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32. DO YOU AGREE THAT THE IP PROTECTION
SYSTEM IN INDIA IS LAX. ELABORATE.
Is it because India relatively
lacks culture of innovation.
Is it because of huge
affordability- aspiration gap.
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33. SEPARATE ISSUE: WHY INDIA LAGS IN
INNOVATION?
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34. THANK YOU 
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