July 27, 2012 1:08 PM

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India stresses need for free movement of labour at global investment conference

India has stressed the need for free movement of labour across borders. Addressing the Global Investment Conference in London, Commerce and Industry Minister Mr Anand Sharma said if the trade paradigm is viewed from a perspective of generating sustainable employment, it is imperative to address the issue of free movement of labour across borders. Mr Sharma wondered as to why in today's globalised world, where capital and technology move with unprecedented speed and volumes across national boundaries, labour cannot move.Stating that India has engaged with all dynamic and emerging parts of the world in a spirit of true partnerships, Mr Sharma said that New Delhi is in an advanced stage of concluding an ambitious Broad based Trade and Investment agreement with the European Union.He said India, in the last three years, has also signed Trade in Goods Agreement with ASEAN and Comprehensive Economic Partnership Agreements with South Korea, Japan and MalaysiaMr Sharma said that trade during the 21st century is vastly different from that during the last century. He said it is so because the 21st century trade is based on a strong trade and investment linkage which is anchored in international investment in production facilities and trade in intermediate goods. The minister said at present intermediate goods account for more than half of developed country imports and nearly three quarters of imports of large developing economies.

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