FTA

The India-UK free trade agreement opens market access but does not automatically translate into higher exports, and the country must strengthen standards, certification, logistics and buyer linkages to realise its full benefits, economic think tank GTRI said on Saturday. The India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force from July 15. "Without parallel work on standards, certification, logistics, regulatory approvals and buyer networks, much of the opportunity will remain on paper. The agreement opens the door; India must now convert access into exports," the Global Trade Research Initiative (GTRI) said. Citing example, GTRI Founder Ajay Srivastava said while food exporters need better testing, traceability and compliance with UK sanitary and phytosanitary rules;machinery and electronics firms need certification, technology and stronger buyer links. Similarly automobile exporters must meet rules-of-origin and technical requirements; and the garment,

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Transformational growth should be the prime focus of the India-UK Free Trade Agreement (FTA), Commerce and Industry Minister Piyush Goyal told business leaders at a plenary session in London on Friday. The minister is in the UK on a three-day visit to review the preparedness of both countries for the implementation of the Comprehensive Economic and Trade Agreement (CETA), which comes into force on July 15. During an interactive event organised by the High Commission of India in London, Goyal heard from members of a Federation of Indian Commerce and Industry-led delegation on the sector-wide opportunities on offer from CETA, such as advanced manufacturing, consumer goods, renewable energy, healthcare and tourism. "Collaborations, cooperations, partnerships will be, in my humble opinion, the right way to come in quickly for both British businesses and Indian businesses," Goyal told the gathering. "It will wedge your way faster; not compulsory, of course, your choice. If you are ...

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India's utilisation of free trade agreement benefits remains low at just 20-30 per cent of eligible exports, compared with 60-70 per cent by the FTA partners, due to high compliance costs and already low tariffs in partner countries, think tank GTRI said on Tuesday. It also said that Free Trade Agreements (FTAs) have made the inverted duty structure issue harder to fix because many finished goods now enter India at low or zero duty from partners such as ASEAN, Japan, South Korea, the UAE and Australia. As a result, Indian manufacturers often pay high duties on imported inputs, especially those sourced from non-FTA countries, while competing against finished products imported duty-free under FTAs, the Global Trade Research Initiative (GTRI) said. Citing an example, it said steel and aluminium attract MFN (duty applicable for all countries) duties of 7.5-10 per cent, but machinery, industrial equipment and engineering products made from these materials can enter India duty-free under

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The commerce ministry is preparing granular plans to boost the utilisation of free trade agreements (FTAs) by Indian industry, including sending 500 delegations abroad, training 1,000 people, and engaging with 1,600 industry chambers, Union Minister Piyush Goyal said on Tuesday. The commerce and industry minister asked the Indian industry to increase utilisation of these pacts as it will help boost exports and attract investments at a time when the global economy is facing challenges. "We are making very granular plans on how we can leverage all these FTAs and convert the global crisis into a golden opportunity," he said at the CII annual business summit here. Since 2021, India has finalised trade deals with Mauritius, the UAE, Australia, Oman, New Zealand, EFTA bloc, UK and the EU. Goyal said that countries such as Switzerland, the United States and nations in the European Union have much higher per capita incomes and cannot manufacture products at a cost lower than India. The ..

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The Indian industry needs to leverage and utilise the free trade agreements (FTAs) that India is finalising, as they provide huge opportunities for both trade and investments, Commerce Secretary Rajesh Agrawal said on Monday. The secretary said that the track record of the country fully utilising and leveraging FTAs is "not great". He also said that the country's industrial policy should complement its trade policy, as trade is also a function of how India invests and produces. "...FTA utilization is something we are questioned again and again. What is the benefit that FTAs are actually leading to?," he said here while addressing a session on free trade agreements. India has implemented trade pacts with a number of countries and groupings including Singapore, Japan, Korea and Asean. Agrawal said these pacts have led to increase in bilateral trade, but India's exports have grown at a slower pace than imports. Talking about the trade pacts with Mauritius, the UAE, Australia, the EU

With India signing a series of free trade agreements with developed countries, the government is working on an FTA utilisation plan to help maximise benefits from these pacts, an official said. Since 2021, India has finalised free trade agreements (FTAs) with Mauritius, Australia, the UAE, Oman, New Zealand, the EFTA (European Free Trade Association), the European Union (EU), the UK and US. These pacts cover 38 countries whose combined global imports stand at about USD 12 trillion. The main Indian sectors that have received duty-free market access in these FTA partner countries include agriculture, textiles and apparel, gems and jewellery, leather and leather goods, engineering, electronics, chemicals, and pharmaceuticals. Commerce and Industry Minister Piyush Goyal has held a series of meetings with industry associations, businesses and export promotion councils (EPCs) on ways to increase utilisation of these agreements. He suggested that businesses leverage these pacts to boost .

Early implementation of the free trade agreement (FTA), signed in December 2025 is likely to figure in the meeting of India and Oman on May 11 here, an official said. The agreement will provide duty-free access to 98 per cent of India's exports, including textiles, agri, and leather goods in Oman. On the other hand, India will reduce tariffs on Omanese products such as dates, marbles and petrochemical items. "Oman team is visiting here on May 11. India will try to push for early implementation of the FTA," the official said. Oman is an important strategic partner of Indian in the Middle East region and is a key gateway for Indian goods and services to the wider Middle East and Africa. Nearly 7 lakh Indian nationals reside in Oman. India receives about USD 2 billion remittances from Oman annually. This is the second trade deal of India with a GCC (Gulf Cooperation Council) member. India in May 2022 implemented a similar pact with the UAE and it is expected to soon start talks with

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