Free Trade

India, New Zealand begin fourth round of talks on free trade agreement

Officials of India and New Zealand on Monday started the fourth round of negotiations in Auckland for the proposed free trade agreement, the commerce ministry said. Commerce and Industry Minister Piyush Goyal will reach Auckland this week to meet his New Zealand counterpart Todd McClay to review the progress of the negotiations. "The Fourth Round (November 3-7, 2025) of negotiations for the India-New Zealand Free Trade Agreement (FTA) commenced today (Monday) in Auckland, New Zealand," the ministry said in a statement. Negotiations in this round are focusing on key areas, including trade in goods and services, and Rules of Origin. "Both sides are working constructively to build on the progress achieved in earlier rounds, to reach convergence on outstanding issues and move towards the early conclusion of the FTA," it said. The FTA negotiations was formally launched on March 16, 2025. The third round of negotiations for the agreement concluded on September 19 in Queenstown, New ...

UK PM Starmer begins India visit to boost ties after clinching trade deal

The deal between the world's fifth- and sixth-largest economies aims to increase bilateral trade by a further 25.5 billion pounds ($34 billion) by 2040

13th round of FTA talks from Monday: India, EU hope to fast-track deal

The outcome of this round of negotiation will be crucial in determining the next steps, as both sides weigh the possibility of a political call to break the deadlock on the unresolved issues

The failure of anti-austerity populism amid inflation and rate shifts

Historically, most debt and inflation crises have occurred when governments that could have met their obligations in full instead chose inflation or default

FTAs may give India a share in $875 bn imports to EU, UK from China: BCG

India's proposed free trade agreement (FTAs) with the European Union could unlock access to a USD 875 billion market and bring tariff parity with ASEAN peers as the country navigates a critical juncture in the evolving global trade landscape, Boston Consulting Group (BCG), India-head Rahul Jain said. Last month, India and the UK inked a landmark FTA that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around USD 34 billion annually. The FTA is expected to benefit 99 per cent Indian exports from tariff. "The global trade environment is undergoing a structural transformation where geopolitics and economic nationalism are becoming as important as cost-efficiency and comparative advantage. Trade today is increasingly influenced by preferential access for partner nations, punitive tariffs and sanctions for adversaries and incentives that are rewiring supply chains to boost domestic production in strategic sectors," he told PTI. The ...

India likely to forego ₹4,060 crore in first year of UK trade pact: GTRI

India is expected to forego customs revenue of Rs 4,060 crore in the first year of the free trade agreement with the UK, as tariffs are reduced or eliminated on a wide range of goods, think tank Global Trade Research Initiative (GTRI) said on Monday. The calculation is based on the current import figures from the UK. By the tenth year, it said, as tariff elimination phases-in more broadly, the annual loss is projected to rise to Rs 6,345 crore or around British Pound 574 million, based on FY2025 trade volumes. The India-UK free trade agreement, which was signed on July 24, will lead to a loss of customs revenue for both the countries, as tariffs are reduced or eliminated on a wide range of goods, GTRI added. India imported USD 8.6 billion worth of goods from the UK in 2024-25. Industrial products make up the bulk of these imports and face a weighted average tariff of 9.2 per cent. Most agricultural products, subject to much higher average tariffs of 64.3 per cent, were excluded f

India-UK free trade pact provides predictability to business: Piyush Goyal

The India-UK Free Trade Agreement (FTA) brings "stability and predictability" for businesses in both the countries, Commerce and Industry Minister Piyush Goyal said on Wednesday. During a session at the India Global Forum (IGF) UK-India Week titled 'Agreement to Action in the UK-India FTA', the minister shared his optimism around the "good marriage" agreed between both the countries, which will lead to doubling the bilateral trade in five years. "A free trade agreement brings stability and predictability to the relationship between two countries," said Goyal. "That gives confidence to business to start investing in each other's economy and I think this will also pave the way for greater investments in the two economies, add to our trade in goods and services... India and UK can partner in innovation to work together to bring more resilient supply chains, working with each other, complementing each other and adding value and profits to both countries," he said. Earlier in the day th

FTA negotiations: European Union relents on raw material supply clause

Bloc earlier wanted India to commit to uninterrupted supply

Imports under FTAs can be cleared under the provisional assessment

Rajagopalan answers readers' SME queries related to GST, export and import matters

Goyal to meet Swiss, Swedish biz leaders, to discuss trade, investments

Commerce and Industry Minister Piyush Goyal will meet Swiss and Swedish business leaders this week and discuss ways to boost trade and investments, an official statement said on Sunday. Goyal is visiting Switzerland and Sweden from June 9 to 13. The visit is commencing from Bern in Switzerland, where the minister will engage with global CEOs and industry figures to explore avenues for enhanced bilateral trade and investment, the commerce and industry ministry said. He will hold discussions with companies from sectors, including pharma and life sciences, precision engineering, amid high-tech manufacturing. Goyal will also discuss potential opportunities arising from the India-EFTA Trade and Economic Partnership Agreement. In Sweden, he will co-chair the Indo-Swedish Joint Commission for Economic, Industrial and Scientific Cooperation (JCEISC) with Benjamin Dousa, Minister for Foreign Trade of Sweden. Companies like Ericsson, Volvo Group, IKEA, Sandvik, Alfa Laval, and SAAB are amo

India could benefit from free trade in long term: Mercedes India MD & CEO

India could be a beneficiary in the long-term from the ongoing tariff war that could lead to better trade and lowering of barriers, even though there can be short-term shocks, according to Mercedes-Benz India Managing Director and CEO Santosh Iyer. While the Indian automotive segment is not directly impacted by US President Donald Trump's tariff war, Iyer told PTI that consumer sentiment in the luxury segment is still positive despite a highly volatile scenario globally due to the current geopolitical situation, currency fluctuations and supply chain concerns. "For the first time, we are discussing about opening up of our borders and also opening for two-way trade. Generally, we have always advocated for more open and fair trade policies that help foster global economic growth and drive innovation as well," he said when asked about the overall impact of the ongoing tariff war. The free trade, based on low tariffs and reduced trade barriers, has significantly increased international

Govt focusing on core issues in FTAs for early outcomes: Commerce secy

India is focusing on core trade issues such as import duty and non-tariff barriers in the proposed free trade agreements (FTAs) for faster outcomes from these negotiations, Commerce Secretary Sunil Barthwal said on Wednesday. He said this approach is important as sometimes it takes "so much time" to conclude negotiations for these agreements and because of that businesses lose interests. "...the experience has been that when we look at these free trade agreements, sometimes they are so much time taking that people lose interest, the businesses lose interest. "So we are also reviewing some of these issues in the department (of commerce) as well, as we are talking to our partners who are doing FTAs with us that why can't we first look at the core trade issues, and even if it is early tranche, or even if it is first phase of that comprehensive agreement, but let there be some kind of outcome which should come out of these negotiations. So we are taking that approach, that let us first

Bureaucratic interventions in the form of QCOs hurt Indian manufacturing

Steel is a case in point. The industry is naturally concerned about the impact of overcapacity in China, which might render Indian-made steel uncompetitive

UK-India business boosted by prospect of free trade agreement, says HSBC

In the nine months to October, HSBC's UK unit received 36 per cent more business client referrals from its arm in India

India-UK FTA talks: Both sides seek to bridge gaps to close deal swiftly

India and the UK would seek to bridge the differences for expeditious conclusion of the proposed free trade agreement as Britain has announced resuming the negotiations early next year, an official statement said on Wednesday. British Prime Minister Keir Starmer has announced that trade talks with India will relaunch in the new year, following his bilateral meeting with Prime Minister Narendra Modi at the G20 Summit in Brazil. Starmer and Modi met on the sidelines of the summit in Rio de Janeiro on Monday, after which Downing Street said the UK will seek a new strategic partnership with India, including a trade agreement. The India-UK talks for the proposed FTA began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles. "We welcome the announcement by the UK to relaunch the India-UK free trade talks in the new year," the commerce ministry said. Noting the importance for securing a balanced, mutually beneficial and forward .

India, UK to relaunch FTA talks in 2025, 'address remaining issues'

Announcement follows first meeting between Prime Minister Modi and his British counterpart during G-20 summit in Brazil

UK PM Starmer seeks India trade deal even Sunak couldn't pull off

The UK's trading relationship with India was worth £42 billion in the 12 months to June 2024

New trade strategy could help India shift from 'no' to 'yes' in deals

Indian officials still tend to think of trade as a zero-sum game, with tariffs as the only real levers

No trade pact if EU insists on opening up dairy biz, says Piyush Goyal

Goyal also said that extraneous issues such as labour and climate change should be discussed on international forums

German Chancellor Olaf Scholz looking to fast-track FTA between India, EU

Germany is one of India's top trading partners within the EU, with exports to Germany reaching $10 billion and imports from Germany at $16.7 billion in the FY24