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Trade Ties
Commerce and Industry Minister Piyush Goyal on Monday said India and Canada are soon to start discussions on the Terms of Reference (ToR) to formally start negotiations for a free trade agreement. The two countries were earlier negotiating a trade pact but it was paused by Canada in 2023. "We are soon going to launch discussions for the terms of reference with Canada also," Goyal said here, talking to the media about the conclusion of negotiations for the India-New Zealand free trade agreement. The terms of reference outline the scope and modalities of a proposed trade pact. He also said India has so far finalised FTAs with three members of the Five Eyes (FVEY) alliance - Australia, UK and New Zealand. The five countries of the intelligence sharing network are Australia, Canada, New Zealand, the UK, and the US. India is at an advanced stage of negotiations for a bilateral trade agreement with the US, he said adding "this reflects the growing strategic importance of India in world
India and Angola on Sunday exchanged multiple Memorandums of Understanding (MOUs) to strengthen bilateral ties on subjects like fisheries, aquaculture and marine resources during the first day of President Droupadi Murmu's official engagements in the African country. The President is on a four-day state visit to the country between November 8-11. This is the first visit by an Indian president to Angola. Murmu was officially welcomed at the Presidential Palace here by Angolan President Joo Manuel Gonalves Loureno, starting with a 21-gun salute and a ceremonial guard of honour. The two leaders later sat down for delegation-level talks, following which MOUs were exchanged between the two countries, followed by a joint reading of statements before the press. Murmu said the partnership between India and Angola was built on "mutual trust, respect and a shared vision for the prosperity of our peoples." She thanked the Angolan people and the government for hosting her delegation in their
Commerce and Industry Minister Piyush Goyal on Wednesday said India and the US are holding continuous discussions for the proposed bilateral trade agreement. "Talks are going well...and are continuously going on. ..kaee samvedanasheel mudde hai, kaee gambheer mudde hai, toh svaabhaavik hai ki thoda samay lagega (There are many sensitive issues, many serious issues, so it is natural that it will take some time)," he told reporters here. He was replying to a question about the progress on India-US negotiations on the pact. Goyal is here on a four-day official visit. He is leading a business delegation. Five rounds of talks have been completed so far for the first phase of the bilateral trade agreement between the US and India. A team of Indian officials, headed by Commerce Secretary Rajesh Agrawal, was in Washington last month to hold trade talks with their US counterparts. The three-day talks ended on October 17. In February this year, leaders of India and the US directed official
Haryana Chief Minister Nayab Singh Saini will visit Japan from October 6 to 8, aiming to strengthen economic, industrial and cultural collaboration between his state and the country. The visit also seeks to attract investments, deepen cooperation in technology and manufacturing, and showcase Haryana as a leading destination for global investors. Saini will arrive in Tokyo on the morning of October 6 and begin his official engagements with high-level meetings at Japan's Ministry of Foreign Affairs and Ministry of Economy, Trade and Industry, said a state government statement. He will hold discussions with Miyaji Takuma, State Minister, Ministry of Foreign Affairs (MoFA), and Koga Yuichiro, State Minister for Economy, Trade and Industry, to explore avenues of cooperation in trade, investment and technology transfer. In the afternoon, Saini will participate in a series of programmes at the Embassy of India, Tokyo. The chief minister will also meet senior representatives of JETRO, AIS
Russian President Vladimir Putin expressed his anticipation for his upcoming visit to India in early December and has ordered the government to devise measures to soften the trade imbalance with India due to the heavy import of crude by New Delhi. Speaking at the international Valdai discussion forum of security and geopolitical experts from 140 countries, including India, in the Black Sea resort of Sochi in South Russia on Thursday evening, Putin underlined that Russia and India have never had any problems or tensions between them and always took actions by keeping in view their sensitivities. "We have never had any problems or interstate tensions with India. Never," the Russian leader noted. Putin highlighted the "special" nature of Russia-India relations since the days of the Soviet Union, when India was fighting for its independence. "In India, they remember this, they know it, and they value it. We appreciate that India has not forgotten it," he declared. He referred to Prime
The next round of negotiations between India and two South American countries, Chile and Peru, will be held in October and November, respectively, an official said. The five-day talks with Chile will start on October 27 in Santiago, the three-day deliberations with Peru will begin on November 3 in Lima, the official said. Both agreements are being negotiated separately. India is set to hold its second round of trade talks with Chile and the eighth round of negotiations with Peru. 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). CEPA aims to build upon the existing PTA between the two nations and seeks to encompass a broader range of sectors, including digital services, investment promotion and cooperation, MSMEs (micro, small and medium enterprises), and critical minerals. The bilateral trade between India and Chile is modest. In 2024-25, India's exports t
Commerce Secretary Howard Lutnick has said that the US will have to fix countries like Brazil and India, asserting that these nations need to react correctly to America by opening their markets and refraining from actions that could harm American interests. The Trump administration has imposed 50 per cent tariffs on India, including a 25 per cent tariff on New Delhi's purchases of Russian oil, among the highest tariff rates imposed on any country in the world. "We have a bunch of countries to fix, like Switzerland, Brazil, India - these are countries that need to really react correctly to America. Open their markets, stop taking actions that harm America, and that's why we're off sides with them," Lutnick said in an interview with NewsNation. Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States." Apart from India and Brazil, Lutnick also mentioned countries like Taiwan and
The European Union (EU) on Wednesday unveiled a new strategic agenda to significantly ramp up its engagement with India in a range of key areas such as defence, trade and energy, and to jointly tackle major global challenges. The EU said its closer partnership with India is increasingly becoming vital in the wake of the shifting geopolitical realities and that it is prudent for the two sides to strengthen economic growth and security. The 'New Strategic EU-India Agenda' marks a significant milestone in relations between the two sides as it aims to "deepen, broaden, and better coordinate" bilateral cooperation, enhance prosperity and security for both partners and help tackle major global challenges, it said. European Commission President Ursula von der Leyen said: "Now is the time to focus on reliable partners and double down on partnerships rooted in shared interests and guided by common values." "With our new EU-?India strategy, we are taking our relationship to the next level,"