Page 18 - Free Trade Agreement

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

FTA with India to be expedited in next few months: British envoy

India and the United Kingdom are set up for the final ascent on signing a Free Trade Agreement (FTA) and expediting the pact in the next few months is one of the main aims of the two sides, British High Commissioner to India Alex Ellis said on Friday. He said the two sides have got through the majority of the negotiations, but there are tough issues like the security of investments of British companies where some in the past had found difficulty in regard to the now-scrapped retrospective tax, in an apparent reference to the long-drawn Vodafone case. On extradition to India of economic fugitives like Vijay Mallya and Nirav Modi, Ellis said it is no longer a government matter. The British Home Secretary had signed the extradition of businessman Mallya over three years ago and it is the issue that now lies with the court, he said. The wheels of justice turn slowly, but they do turn, he said at the India Today Conclave here Mallya, accused of cheating and fraud in India, has been ...

British PM Rishi Sunak committed to FTA with India, says Downing Street

Intensive negotiations continue towards a free trade agreement (FTA) between India and the UK and new British Prime Minister Rishi Sunak is committed to achieving a balanced deal, Downing Street said on Wednesday. Sunak, who took charge at 10 Downing Street last week, had a "very warm" introductory call with Prime Minister Narendra Modi during which both sides expressed their commitment towards an FTA. The UK Prime Minister's office also reiterated that the focus remains on a balanced trade deal that benefits both sides and therefore no timeframe is being specified after a proposed Diwali timeline had to be abandoned last month amid political turmoil in the UK. "Both sides are very committed to it, intensive negotiations are continuing led by the Department for International Trade (DIT)," a spokesperson told reporters at a Downing Street briefing. "The Prime Minister had a very warm, introductory call with Prime Minister Modi last week. In terms of the speed of it [FTA], we have be

A stringent patent rule is latest hurdle for India-UK free trade agreement

The draft has also proposed to prohibit pre-grant oppositions, which means that India will not be able to stop challenges to weak/invalid patents until after they have been granted

Political stability may give impetus to India-UK trade pact talks: Experts

Rishi Sunak becoming the UK's prime minister is likely to give much-needed momentum to ongoing negotiations for the proposed free trade agreement between India and Britain, trade experts say. The countries have already missed the Diwali deadline for concluding the negotiations because of political developments in the UK. According to the experts, political stability in the UK now would help fast-track the negotiations for the pact, which would give a boost to the bilateral trade and investments between the countries. Sunak, 42, on Monday won the race to lead the Conservative Party and is now set to become Britain's first prime minister of Indian origin. It is a very positive news for India. The development will definitely help in giving much-needed momentum to the talks, Federation of Indian Export Organisations (FIEO) Vice Chairman Khalid Khan said. However, Biswajit Dhar, Professor in the Jawaharlal Nehru University, said the new UK prime minister would like to first focus on .

After a 9-year gap, India-EU free trade negotiations to see new dawn

As India-EU marks 60 years of bilateral relations the new free trade agreement negotiations can deliver what proved to be impossible 9 years ago, said European Parliament member Kathleen Van Brempt

No longer working to Diwali deadline for India trade pact: Kemi Badenoch

The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," External Affairs Ministry Spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA. A good conversation with UK Foreign Secretary James Cleverly. Reviewed various aspects of our bilateral relationship and committed to taking forward Roadmap 2030 ...

India, UK looking for mutually beneficial Free Trade Agreement: MEA

India on Friday said it is carrying out negotiations with the UK for the early finalisation of a free trade agreement that is beneficial to both the sides. In April, the two sides had set a Diwali deadline for concluding the FTA but the deal is set to be pushed back to November in view of differences over certain issues. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," External Affairs Ministry Spokesperson Arindam Bagchi said. "This is a trade negotiation...let this be dealt by trade negotiators," he said. Meanwhile, External Affairs Minister S Jaishankar held a telephonic conversation with British Foreign Secretary James Cleverly. "A good conversation with UK Foreign Secretary @JamesCleverly.Reviewed various aspects of our bilateral relationship and committed to taking forward Roadmap 2030 expeditiously. Look forward to an early in-perso

India-UK free trade agreement to miss Diwali deadline, says report

Previous sticking points have included a steep import duty on British whiskey for sale in India and India's demand for more visas for Indian students and businesses.

UK wants stronger trading relationship with India, says FM Cleverly

UK FM James Cleverly said Britain wanted to have an even stronger trading relationship with India after reports that remarks by a fellow minister about immigrants could put future deal in doubt

India-UK free trade deal stuck on free access to skilled workers

Any failure to conclude a trade accord with Britain will be a missed opportunity for India, a nation upon which many economies are pinning their hopes amid intensified geopolitical struggles

India, Taiwan should consider finalising FTA very soon: Taiwanese Envoy

India and Taiwan should firm up the proposed free trade agreement (FTA) at the earliest as it will remove all barriers to trade and investment and help create a resilient supply chain, Taipei's de-facto Ambassador Baushuan Ger said. The Taiwanese representative said Taiwan is keen to share its expertise with India in critical sectors such as semiconductors, 5G, information security and artificial intelligence and that his country can be an "excellent" partner to develop India's high-tech supply chain. He said Taiwan has been actively pursuing FTA with like-minded trading partners including India and reaffirmed Taipei's focus on supporting the rules-based international order. "The signing of the FTA will further remove all trade and investment barriers and lead to a jump in bilateral trade and investment," he told PTI. "In addition, it will help attract Taiwan companies to invest in India to establish production bases, sell India-made products to the world, and help India transform

India-UK FTA may get watered down amid Braverman's remarks on visas

There are growing fears here that the proposed India-UK free trade agreement (FTA), currently in its final stages of negotiation towards a Diwali deadline, is likely to be watered down amid controversial remarks by UK Home Secretary Suella Braverman on visas. The Indian-origin Cabinet minister seems to be poised for a direct clash with British Prime Minister Liz Truss, who is keen to stick to the looming October 24 timeline for the FTA and is well aware that the ease of movement of students and professionals is crucial to India's objectives as part of a new trade deal. However, Braverman expressed reservations over what she feared would be an open borders migration policy with India under an FTA, casting doubt over the nature of the final agreement. It now appears likely that the prospective UK-India FTA under the Liz Truss government will not be as substantive nor as comprehensive as envisaged by the previous Boris Johnson government, as negotiations on key issues of ...

UK Home Secretary casts doubt on FTA over open borders with India

Britain's Indian-origin Home Secretary, Suella Braverman, has cast doubts over a proposed free trade agreement (FTA) with India over the issue of migration and branded Indians as the largest group of people who overstay their visas in the UK. Expressing concerns over what she feared would be an open borders migration policy in an interview with The Spectator' on Thursday, the senior minister seemed to indicate that she would not offer Cabinet backing to a trade deal that offers India greater visa concessions. It would pitch her in a possible clash with British Prime Minister Liz Truss, who wants an FTA with India now in the final round of negotiations within the Diwali deadline set by her predecessor Boris Johnson. I have concerns about having an open borders migration policy with India because I don't think that's what people voted for with Brexit, Braverman told the British weekly news magazine. Asked about visa flexibility for students and entrepreneurs under an India-UK FTA,

Free trade agreement with India won't be 'free-for-all deal': UK minister

The free trade agreement (FTA) being negotiated with India won't be a "free for all deal" but something that is good for both countries and not a particular sector, the UK government cautioned on Tuesday as a Diwali deadline set at the prime ministerial level for the pact approaches. UK Secretary of State for International Trade Kemi Badenoch, who is in charge of the FTA negotiations under the Prime Liz Truss led government, was addressing concerns around access for the country's services sector into the Indian market at the Conservative Party annual conference in Birmingham. The senior Cabinet minister also indicated that the Diwali timeline set by former Prime Minister Boris Johnson was not "arbitrary" and could be met with further aspects covered beyond that deadline. "We want something comprehensive, but it has to be right for both countries," said Badenoch. "The Prime Minister has a deadline, which the previous Prime Minister had. That was quite a long deadline, so it's not ..

FTA talks in final phase with Diwali deadline in sight: London Lord Mayor

The free trade agreement (FTA) talks between India and the UK are now in their final phase and despite some outstanding issues to be resolved, there is optimism on both sides that the Diwali deadline for a draft will be met, according to the Lord Mayor of London. Vincent Keaveny, the 693rd Lord Mayor who represents the financial hub of the City of London globally, has just returned from a four-day visit to India following meetings with leading Indian businesses and investors and finance chiefs at the Reserve Bank of India (RBI) and Securities Exchange Board of India (SEBI). As London's ambassador for financial and professional services, the Lord Mayor's visit was aimed at strengthening India-UK financial services links, building strong and sustainable two-way capital flows. It was a really good time to be in India with the FTA negotiations entering into their final phase, Keaveny told PTI. Prime Minister Modi has made it clear that he wants to sign the FTA by Diwali. There are some

New Zealand seeks trade with India outside FTA, milk: Damien O'Connor

'We are very big in wood logs, which is among the single biggest items of export to India'

Keen to upgrade free-trade deal with India, says Sri Lanka President

Sri Lanka is keen to upgrade the Indo-Lanka Free Trade Agreement into a comprehensive economic and technological partnership, President Ranil Wickremesinghe said on Friday, asserting that the work which started in 2018 and 2019 has not found much progress. The Free Trade Agreement (FTA) between India and Sri Lanka was the first-ever bilateral trade agreement for both countries, signed in 1998 and enforced in 2000. The pact is aimed at further boosting the economic ties between the two countries by liberalising trade norms. "Sri Lanka and India gradually have to wean themselves out of the barriers to investment and the non-tariff barriers to trade especially in relation to Sri Lanka Indo economic relations, Wickremesinghe said while addressing a gathering of the Sri Lanka-India Society to mark the 75th anniversary of Indian Independence. He said the future relations of India with its neighbours will be determined by trade integration. "Trade integration gives an economic base. The .

India's non-petroleum exports to UAE underperform after FTA, shows data

In comparison, India's overall non-petroleum exports grew 8 per cent during May-July while overall exports grew 15.1 per cent during the same period

Diwali deadline for India-UK trade pact not to be missed: Commerce secy

Negotiations for the proposed free trade agreement between India and the UK are at the last stage and the deadline of Diwali (in October) would not be missed, commerce secretary B V R Subrahmanyam said on Saturday. In April, both sides had set the Diwali deadline for the conclusion of an India-UK Free Trade Agreement (FTA). "We are on track (to meet the deadline). We are in the last stages. 19 out of 26 chapters are closed. There are a couple of areas where we are negotiating Diwali deadline is not going to be missed," he told reporters here. Talks are happening on certain goods like cars and spirits from the UK side and certain products from the Indian side. In January, both countries formally launched talks for a free trade agreement to boost bilateral trade and investments. In such pacts, two countries either eliminate or significantly reduce customs duties on the maximum number of goods traded between them besides easing norms for promoting investments and services trade. Ind