Page 5 - Free Trade Agreement

New Zealand PM Luxon hasn't given up on dairy in trade deal with India

New Zealand efforts to secure better access to India's huge markets have foundered in the past, in particular because India wants to shield its dairy industry from imports

PM Modi raises concerns with New Zealand PM over pro-Khalistani activities

India and New Zealand on Monday inked an ambitious pact to institutionalise defence ties and vowed to boost cooperation in the Indo-Pacific even as Prime Minister Narendra Modi flagged concerns to his Kiwi counterpart Christopher Luxon over certain pro-Khalistani elements indulging in anti-India activities in the island nation. Following talks between Modi and Luxon, the two sides signed six agreements to ramp up cooperation in several areas including education, sports, agriculture and climate change, and decided to prepare a roadmap for cooperation in the defence industry sector. Both prime ministers welcomed the launch of negotiations for a "balanced, ambitious, comprehensive, and mutually beneficial" free trade agreement (FTA) between the two countries to achieve deeper economic integration. Secretary (East) in the Ministry of External Affairs Jaideep Mazumdar indicated that the two countries will try to seal the FTA by the end of this year. In his media statement, Modi said Ind

India, New Zealand restart FTA negotiations after a 10-year hiatus

The announcement coincides with New Zealand Prime Minister Christopher Luxon's visit to India

Jaishankar wraps UK visit after 'injecting fresh momentum' into partnership

S Jaishankar concluded the visit with a tour of the Tottenham Hotspur Stadium hosted by his counterpart Foreign Secretary David Lammy

India, EU to resume FTA talks from March 10 amid Trump tariff concerns

India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year. During the recent visit of EU Commissioner for Trade and Economic Security Maros Sefcovic, the two sides have discussed ways to accelerate efforts towards a balanced and mutually beneficial trade pact. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen last month agreed to conclude the ambitious India-EU free trade deal by this year amid fears of the Trump administration's threat of higher tariffs. "The two sides are scheduled to hold the tenth round of negotiations for the FTA from March 10-14 in Brussels," the official said. In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight .

Our govt works very closely with India to reduce trade barriers: Southwell

It's been successful for both countries, not just for Australian exports to India but also for Indian exports to Australia, John Southwell said

Free trade agreement tariff concessions cost India Rs 94,172 crore in FY25

Customs revenue set to face greater strain as country pursues more trade pacts

Shift towards developed markets: India's FTA needle turns to the West

Indian industry always preferred to have deeper trade relations with traditional markets - EU and the US- as it offers industry greater complementarity

India, EU to push for long-pending free trade agreement by 2025-end

The trade deal will be accompanied with pacts on investment protection and geographical indicators

EU pushes for tariff cuts on whiskey, wine, cars in India trade talks

The EU seeks lower tariffs as India's biggest FTA nears finalisation after nine rounds of talks, with the next set for March 10-14, boosting access for textiles, leather, and marine exports

India, UK trade pact 'genuinely beneficial' for both: British trade secy

The proposed free trade agreement (FTA) between India and the United Kingdom is "genuinely beneficial" to both countries as it would help boost bilateral trade and investments, UK Secretary of State for Business and Trade Jonathan Reynolds said on Tuesday. India and the UK on Monday announced resumption of negotiations for the FTA, which is expected to double or even triple bilateral trade from the current USD 20 billion in the next 10 years. Reynolds met Commerce and Industry Minister Piyush Goyal to discuss about the agreement. After concluding the two-day talks with the Indian minister, Reynolds said: "This is about an agreement which is genuinely beneficial to both countries. That is possible. That's the prize. Getting it right is what we are here to do, and that's what we are working very hard towards". Terming it a "substantial" agreement, he said these pacts make a "real difference if you" get them right. The negotiations are resuming after a gap of over eight months. The t

India, UK resume negotiations for FTA, aims to triple trade in 10 years

India and the UK on Monday discussed to advance the India-UK free trade agreement (FTA) negotiations while ensuring that the pact is balanced, ambitious and mutually beneficial. In a post on X, Commerce and Industry Minister Piyush Goyal said both countries reaffirmed their commitment to strengthening trade and investment ties. He held a meeting with UK Secretary of State for Business and Trade Jonathan Reynolds here. "During the meeting, our discussions focused on advancing the India-UK Free Trade Agreement negotiations and ensuring that the agreement is balanced, ambitious and mutually beneficial," Goyal said. The India-UK FTA negotiations were launched on January 13, 2022. The agreement is aimed at boosting bilateral trade and investments. In such pacts, two countries either eliminate or significantly reduce customs duties on maximum goods traded between them. They also ease norms for promoting trade in services and bilateral investments. The bilateral trade between India and

India-Qatar potential FTA must be approached with caution, says GTRI

India should tread cautiously on a potential free trade agreement (FTA) with Qatar, particularly in the petrochemical sector as both countries are strong in this segment, economic think tank GTRI said on Wednesday. The Global Trade Research Initiative (GTRI) added that India should ensure that tariff concessions on petrochemicals and energy-related imports do not undermine domestic industries. According to a joint statement issued after the meeting of Prime Minister Narendra Modi and Amir of Qatar Sheikh Tamim bin Hamad Al-Thani, the two sides agreed to explore the possibility of entering into a bilateral comprehensive economic partnership agreement (CEPA) with an aim to double bilateral trade to USD 28 billion by 2030. Normally in a CEPA, a kind of free trade agreement (FTA), two trading partners either eliminate or significantly reduce customs duties on the maximum number of goods (90-95 per cent) traded between them. Besides, they ease norms to promote trade in services and boost

BITs should capture national interest, current model will be revamped: FM

Finance Minister Nirmala Sitharaman on Saturday said that going forward the bilateral investment treaties should capture national interest in relation to regulatory powers and serve as a guide to arbitrators in resolving disputes. Speaking at the inauguration of the first PG Certificate Course on International Commercial & Investment Treaty Arbitration in New Delhi, Sitharaman said issues related to Bilateral Investment Treaty (BIT) are unique to the sovereign and hence BIT should be negotiated stand-alone rather than as a part of FTA agreement. Stating that arbitrators have often ignored the judicial decisions of the host country, Sitharaman said an investment treaty must not only provide better regulatory powers to the nations but must also serve as guidance to arbitrators to restore faith in arbitration. "I strongly believe, moving forward, the framework of investment treaties should capture national interests in relation to regulatory powers and strengthen guidance for ...

India-UK FTA is the floor of relationship, not ceiling: UK trade envoy

The Free Trade Agreement between India and the United Kingdom is the floor of the relationship between the two countries and it's not the ceiling of their ambitions, Harjinder Kang, UK's Trade Commissioner for South Asia said. Kang, the British Deputy High Commissioner for Western India, said several ministerial visits are lined up in February. The proposed visits include Jonathan Reynolds, the Secretary of State for Business & Trade; Poppy Gustafsson, UK Investment Minister Secretary of State at the Department for Energy Security and Net Zero; Vernon Coaker, Minister of State for Defence of the United Kingdom and Alastair King, the Lord Mayor of the City of London. He said not a single day goes by without an FTA-related conversation. "It's a conversation that we have regularly. Some of you know that I was the UK's chief negotiator before I came here to do this role and it's an amazing experience about the two industries, sectors, two economies, the two governments and how they ...

FDI with EFTA can catalyse $500 billion investment, says Piyush Goyal

The development comes against the backdrop of an investment commitment made by EFTA nations under the trade agreement--$50 billion investment in India

India sets up EFTA desk to promote trade, investment, biz facilitation

India is setting up a dedicated platform - EFTA (European Free Trade Association ) desk - to promote trade, investment, and business facilitation between the two regions, an official statement said on Monday. India and the four European nations EFTA bloc signed a free trade agreement on March 10 last year to boost trade and investment ties. The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), is expected to come into force by the end of this year. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. The setting up of the desk is important as under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. This is a first-of-its-kind pledge agreed upon in any of the trade deals signed by India so far. It will be inaugurated by Commerce and Industry Minister Piyush Goyal along

'India-Oman free trade agreement talks progressing at healthy pace'

The negotiations for a proposed Free Trade Agreement (FTA) between India and Oman are progressing at a healthy pace and the two sides will hold another round of talks to resolve the pending issues, an official said. The official said that issues pertaining to petrochemical products have been resolved. The negotiations received a much need impetus after the visit of Commerce and Industry Minister Piyush Goyal to Muscat last month. "One more round of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) will happen," the official added. On January 27 in Muscat, trade ministers of India and Oman reviewed progress of the proposed agreement and focused on advancing the negotiations for the pact. The agreement was discussed between Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations

India, UK to resume talks on proposed trade agreement from Feb 24: Official

India and the UK are expected to resume the talks for the proposed free trade agreement from February 24, an official said. The UK trade minister is likely to visit the national capital soon, the official said. The 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. The agreement is aimed at boosting bilateral trade and investments. In such pacts, two countries either eliminate or significantly reduce customs duties of maximum goods traded between them. They also ease norms for promoting trade in services and bilateral investments. The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty. On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, electric vehicles, lamb meat, chocolates and certain confectionar

Jindal Stainless Q3 results: Net profit down 5.4% to Rs 655 crore

However, the company managed to grow its sales volume from 5,12,015 tonnes in Q3 FY24 to 5,87,658 tonnes in Q3 FY25