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The completion of the India-EU free trade negotiations and the interim trade pact between India and the US are likely to play a significant role in the coming years by improving market access and enhancing export competitiveness, the RBI's bulletin issued on Friday said. An article on the 'State of the Economy' published in the February bulletin also said that the near-term economic outlook for the economy remains favourable and is well-positioned to sustain its high growth momentum, driven by consumption, investment, and productivity-enhancing reforms. The completion of the India-EU free trade negotiations by the end of January and the subsequent interim trade agreement between India and the US are likely to play a significant role in the coming years by improving market access, enhancing export competitiveness, and integrating Indian firms more deeply into global value chains, it said. "In the immediate term, it has led to a change in investor sentiments. Foreign portfolio ...
India and the UK are making a "genuine" effort to see if the bilateral free trade agreement can be operationalised in April this year, Commerce Secretary Rajesh Agrawal said on Monday. India and the UK, on July 24, 2025, signed the Comprehensive Economic and Trade Agreement (CETA) under which 99 per cent of Indian exports will enter the British market at zero duty, while tariffs on British products such as cars and whisky will be reduced in India. The pact needs approval from the UK parliament before it is implemented. In India, the Union Cabinet approves such agreements. After it gets approved by the British parliament, it will be implemented on a mutually agreed date. "I think both sides are working to operationalize it as fast as possible. As some stories have come in the news that it may get operationalized in April, we are making an effort towards that. But I don't know whether that is the date or it will happen beyond that. But we are trying. Our genuine effort on both sides
A team of Indian officials will visit the US next week to finalise the legal text for an interim trade agreement, which is likely to be signed in March, Commerce Secretary Rajesh Agrawal said on Monday. The visit is likely to start on February 23. Earlier this month, India and the US released a joint statement to announce that a framework for an interim trade agreement has been finalised. "The joint statement lays down the contours of the deal. Now, the contours of the deal have to be translated into a legal agreement, which will be signed between the two sides," he told reporters here. Both sides are engaged in finalising that legal agreement, and virtual talks are going on for that. "Next week, (India's) chief negotiator Darpan Jain will be leading a delegation to the US to finalise the legal (pact) to work towards the legal agreement. That work will carry on next week in Washington and, if need be, thereafter in July and March," Agrawal said. Jain is the joint secretary in the
The India-UK free trade agreement, signed in July last year, is likely to be implemented in April 2026, according to an official. India and the UK, on July 24, 2025, signed the Comprehensive Economic and Trade Agreement (CETA) under which 99 per cent of Indian exports will enter the British market at zero duty, while tariffs on British products such as cars and whisky will be reduced in India. "We are expecting the pact to be implemented from April this year," the government official said. The two countries have also signed the Double Contributions Convention (DCC) pact to ensure temporary workers would not have to duplicate social levies in either country. The official said that both pacts are likely to be implemented in parallel. The pact needs approval from the UK parliament before it is implemented. In India, the Union cabinet approves such agreements. After it gets approved by the British parliament, it will be implemented on a mutually agreed date. The House of Commons in
The UK and India share a dynamic and forward-looking partnership built on trust, collaboration, and shared ambition, UK's Trade Commissioner for South Asia Harjinder Kang has said. Speaking during the annual King's Birthday Party celebrations here, Kang said this year's celebration follows a milestone year in UKIndia relations, marked by the signing of a Free Trade Agreement, a shared India-UK Vision 2035, and reciprocal visits by Prime Ministers Keir Starmer and Narendra Modi to each other's countries. The past year reflects a partnership that is deeper, broader, and more forward-looking than ever before, he said. "The UK and India share a dynamic and forward-looking partnership built on trust, collaboration, and shared ambition," Kang, who is also the Deputy High Commissioner, said on Friday. Kang hosted the King's Birthday Party on Friday, bringing together distinguished guests to celebrate the birthday of King Charles III. The evening brought together senior representatives fr
Union Home Minister Amit Shah on Saturday asserted that in FTA and trade deals, the interests of farmers and fishermen have been fully secured and slammed top Congress leader Rahul Gandhi for misleading them with 'lies'. Addressing a well-attended BJP rally here, Shah alleged that Gandhi, the Leader of Opposition in the Lok Sabha, "has started a new tradition of telling lies daily." "Its Rahul Gandhi's policy to lie, lie loudly, repeat it. But people have identified your lie manufacturing factory," he said. The provisions in FTA and the trade deal, apparently the Indo-US one, should be studied carefully and Prime Minister Narendra Modi "has ensured 100 per cent protection" for Indian farmers and fishermen, Shah said. He charged that farmers' interests were "sold off" during the UPA regime headed by the late Manmohan Singh. The BJP veteran also expressed confidence that in 2029, under PM Modi, BJP-led NDA will assume power again at the Centre.
The UK government has highlighted its first mover advantage by signing a free trade agreement (FTA) with a rapidly growing Indian economy ahead of the European Union (EU), which it claimed had used Britain's deal as a "baseline". During a House of Commons debate on the India-UK Comprehensive Economic and Trade Agreement (CETA) earlier this week, the Opposition Conservatives insisted the deal with "one of the largest economies on the planet, which is growing approximately five times faster than the European Union" could have been better. "British businesses needed something with a really good kick in it to get this country growing. Instead of a vindaloo of a deal, the Prime Minister came back with a bag of soggy poppadoms," said Andrew Griffith, shadow business and trade secretary. Chris Bryant, minister of state in the Department for Business and Trade (DBT), responded on behalf of the Labour government to stress that CETA was a "momentous achievement" which goes "well beyond India'
US-based Boeing is a large buyer of aircraft parts from India and is looking at the country as its largest foreign original equipment manufacturer (OEM) base for components going forward, Commerce and Industry Minister Piyush Goyal said on Saturday. Under an interim trade agreement with India, the US has agreed to remove tariffs on certain aircraft and aircraft parts of India. "Already Boeing and Airbus are large buyers of aircraft parts from India...I am told both these companies are looking at India as the largest foreign OEM for parts going forward and I have had conversations with the top board and CEO of both companies. There is a lot of excitement about the India-US partnership," he told reporters here. Boeing has over 265 commercial and military aircraft operating in India, which is a key market for the plane maker. The company has more than 325 suppliers and the annual sourcing from the country is worth over USD 1.25 billion. The amount includes components and services. Ai
India and the six-nation bloc of Middle Eastern nations, the Gulf Cooperation Council (GCC), will ink terms of reference on Thursday for starting talks for a free trade agreement (FTA), an official said. The terms of reference (ToR) outline the scope and modalities of a proposed trade pact. Commerce and Industry Minister Piyush Goyal will preside over the signing ceremony of the ToRs with GCC. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. India has already implemented a free trade pact with the UAE in May 2022. India and Oman also signed a Comprehensive Economic Partnership Agreement (CEPA) in Muscat on December 18, 2025. Launch of FTA talks with the GCC would be a kind of resumption of the negotiations, as the earlier two rounds of negotiations were held in 2006 and 2008 between the two regions. The third round did not happen as GCC deferred its negotiations with all countries and economic groups. India imports ...