Explore Business Standard
Associate Sponsors
Free Trade Agreements
The European Union and the Mercosur bloc of South American countries formally signed a long-sought landmark free trade agreement on Saturday, capping over a quarter-century of torturous negotiations to strengthen commercial ties in the face of rising protectionism and trade tensions around the world. The signing ceremony in Paraguay's humid capital of Asuncion marks a major geopolitical victory for the EU in an age of American tariffs and surging Chinese exports, expanding the bloc's foothold in a resource-rich region increasingly contested by Washington and Beijing. It also sends a message that South America cultivates diverse trade and diplomatic relations even as US President Donald Trump declares dominance in the Western Hemisphere.
India and the European Union (EU) are negotiating a free trade agreement (FTA). Negotiations have reached the final stage. If finalised, this will be the 19th trade deal for India. The FTA is expected to help boost the country's exports to the 27-nation bloc. Since 2014, India has finalised seven trade pacts -- Mauritius (April 2021 implemented), Australia (December 2022 implemented), UAE (May 2022 implemented), Oman (signed in December 2025), UK (signed in July 2025), EFTA (implemented in October 2025 - Switzerland, Iceland, Liechtenstein, Norway), and New Zealand (talks concluded in December 2025). Importance of this FTA: The imposition of high tariffs by the US has disrupted the global flow of goods. India is facing steep 50 per cent tariffs. The FTA is expected to help Indian exporters diversify their shipments. It will also help reduce dependence on China. Benefits for India and the EU: Tariffs or import duties are either reduced or eliminated under an FTA. Therefore, an FTA
India and the European Union (EU) on Friday held talks in Brussels on the proposed Free Trade Agreement (FTA) and reaffirmed their commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs. Commerce and Industry Minister Piyush Goyal is on a two-day official visit to the EU headquarters for the talks. He has held high-level talks with EU Trade and Economic Security Commissioner Maros Sefcovic for securing a mutually beneficial FTA. "During this dialogue, we deliberated across key areas of the proposed agreement. We reaffirmed our commitment to a rules-based trading framework and a modern economic partnership that safeguards the interests of farmers and MSMEs while integrating Indian industries into global supply chains," Goyal said in a social media post. The ministerial engagements follow a week of intensive deliberations in Brussels, building upon the groundwork laid during high-level discussions held earlie
The highly anticipated free trade deal between India and the UK, in the works for over four years, came to fruition in 2025, alongside a Vision 2035' pact to revitalise bilateral ties beyond the realm of trade and investment. The Free Trade Agreement (FTA) negotiations dominated the headlines for the major part of the year as both sides looked determined to get the deal over the line and formally signed off during Prime Minister Narendra Modi's visit to the UK in July. Keir Starmer, celebrating his own one-year mark as British Prime Minister, laid out an especially warm reception for Modi over cups of chai at his countryside residence Chequers, near London. We have agreed a landmark deal with India one of the fastest growing economies in the world, declared Starmer, formally accepting Modi's reciprocal invitation to lead the biggest British trade delegation to India ever within weeks in October. According to the UK Department for Business and Trade (DBT) analysis, the Comprehensiv
Legally binding commitments on professional services such as chartered accountants, doctors and architects under various Free Trade Agreements (FTAs) signed by India will help open up overseas opportunities for these professionals, Commerce Secretary Rajesh Agrawal has said. He has stated that India's demographic dividend offers immense potential to meet the rising global demand for professional services. To tap into this potential, Agrawal said, it is critical to adopt global best practices and equip professionals with upgraded skills aligned with evolving global market needs and technological developments. He also encouraged professional bodies like the Institute of Chartered Accountants of India (ICAI) to organise and participate in international conferences to enable knowledge sharing and provide platforms for enhanced collaboration. The secretary said this while addressing a brainstorming session on 'Expanding Global Horizons: Opportunities for Indian Professionals' on Decembe
The free trade agreement (FTA) between India and New Zealand will help diversify exports, and attract investments in areas like agriculture, experts said. The conclusion of negotiations for the pact was announced on December 22. It is likely to be signed and implemented next year. India and New Zealand on Monday said they have concluded talks on a free trade deal that will give India tariff-free access to the island nation's markets, bring in USD 20 billion of investment over the next 15 years and help double bilateral trade in goods and services the next five years to USD 5 billion. Federation of Indian Export Organisations (FIEO) President S C Ralhan said upon entry into force, the free trade agreement (FTA) will provide zero-duty access on 100 per cent of India's exports, with tariff elimination across all tariff lines or product categories. "It will enhance the competitiveness of Indian products in the New Zealand market and provide a major boost to employment-generating sector
India and Oman will sign a free trade agreement on Thursday in Muscat with an aim to boost economic ties between the two countries, an official said. It will be signed in the presence of Prime Minister Narendra Modi, who is on a four-day, three-nation visit. He arrived in Ethiopia on Tuesday from Jordan and will depart for Oman from Addis Ababa. Commerce and Industry Minister Piyush Goyal has reached Muscat for the FTA signing. Commerce Secretary Rajesh Agrawal too will reach Oman, the official said. Talks for the free trade agreement, officially termed as CEPA (Comprehensive Economic Partnership Agreement), formally began in November 2023 and the negotiations concluded this year. In free trade agreements, the two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. Oman is the third-largest export destination for India among the Gulf ...
India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services to boost economic ties, the commerce ministry said on Thursday. These issues were discussed during a meeting of the Joint Committee under the India-UAE CEPA (comprehensive economic partnership agreement). CEPA is a kind of free trade agreement (FTA). "The two sides conducted a comprehensive review of progress under CEPA and detailed discussions were held on market access issues, data sharing, allocation of Gold TRQ (tariff rate quota), anti-dumping matters, services, Rules of Origin, BIS licensing," it said. The India side also briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process. The two sides also deliberated upon enhancing regulatory cooperation in pharmaceuticals, resolution of issues related to Certificates of Origin, and early signing of the MoU on Food Safety and Technical
A proposed free trade agreement (FTA) between Israel and India will open up significant business opportunities for industries in both countries and boost bilateral trade and investment flows, Israeli Economy and Industry Minister Nir Barkat said. He said that the two countries have signed terms of references (ToRs) on November 20 here to start negotiations for the agreement. Barkat said that both counties have decided not to include sensitive areas in the FTA negotiations. "Huge opportunities are there to boost trade and investments between the two countries. We are going to see huge growth in business," Barkat told PTI. He added that a lot of Israeli companies are interested in opening up subsidiaries in India, which can act as a gateway to Asia for them. "People are now understanding that there are big opportunities (in India) because India's tomorrow is not the India of yesterday," he said, adding India is well positioned to compete with China. The elements of ToRs include mar
The next round of negotiations between India and Chile on the proposed free trade agreement is expected to be held in December here, an official said. The pact with the the South American nation may help India access critical minerals, which are key inputs for electronics, auto, and solar sectors. India and Chile concluded the third round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) in Santiago. The four-day talks concluded on October 30. India is seeking preferential treatment for critical minerals in Chile under the pact. India's growing trade engagement with Chile reflects its strategic focus on building stronger partnerships with the Latin American region through mutually beneficial and comprehensive economic cooperation frameworks, the official said. India and Chile implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a comprehensive economic partnership agreement. CEPA aims to build upon the exis