Page 3 - Free Trade Agreements

India-UK pacts will deepen comprehensive strategic ties, says PM Modi

". These landmark agreements will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth..." PM Modi said

Datanomics: India's investment treaties progress in bits and pieces

Objectives of these agreements are to promote and protect investments through a stable legal environment for investors from both countries

India-EU trade pact to address tariff and non-tariff barriers equally

Commerce Minister Piyush Goyal says India-EU trade deal to focus on tariff and non-tariff barriers alike, with both sides targeting a meaningful pact by end of 2025

India stresses focus on non-tariff barriers, import duty in EU trade talks

India has emphasised that resolving non-tariff barriers faced by businesses is as important as addressing import duty issues for meaningful progress in talks on the proposed free trade agreement with the European Union (EU), an official statement said on Friday. The progress of the talks was discussed during the meeting between Commerce and Industry Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic in Brussels. Both leaders also reaffirmed their shared resolve to conclude the India-European Union Free Trade Agreement (FTA) by the end of 2025. "India emphasised that meaningful progress in trade negotiations requires an equal focus on Non-tariff Barriers (NTBs) alongside tariff (import duty) discussions and regulatory frameworks must be inclusive, proportionate, and avoid restricting trade," the commerce ministry said. The country has earlier on multiple occasions flagged NTBs being faced by domestic industry in the European Union markets

Hope and disappointment: Why BIMSTEC is yet to realise its ambitions

Calls for an early conclusion to an FTA have gone nowhere in five years as members have not been able to reach a consensus over issues such as market access or a dispute settlement mechanism

India to expand trade ties with nations offering fair FTAs: Piyush Goyal

India will expand its trade ties with nations that will offer fair, balanced and equitable free trade agreements (FTAs), Commerce Minister Piyush Goyal said on Wednesday, stressing that the country's gains must match its offer of accessing a 1.4 billion-strong, and fast-growing consumer market. He said that India is negotiating FTAs with different countries and regions, including the European Union (EU) and Oman. The remarks also assume significance as India is negotiating a bilateral trade agreement with the US. The aim is to finalise the first phase of the pact by the fall (September-October) this year. "So we will be expanding our trading relations with countries where we get a fair deal, where we can have equitable and balanced free trade agreements, where India's gains commensurate with what we are offering, a large market of 1.4 billion people, growing market, the world's fastest growing economy," he said here at India-Middle East-Europe Economic Corridor (IMEC) Conclave ...

Trump trade mayhem: India's options amid rising global uncertainty

In a fast-changing world, India's focus needs to be on pushing forward a broader, comprehensive trade and investment reform agenda

India should reconsider negotiating a comprehensive FTA with the US: GTRI

India should reconsider negotiating a comprehensive free trade agreement (FTA) with the US as it could pose challenges to domestic sectors like agriculture, automobiles and pharmaceuticals, think tank GTRI said on Thursday. It cautioned that under trade pact with the US, many of Washington's demands such as weakening India's minimum price support system for farmers, allowing genetically modified food imports, lowering agricultural tariffs, changing patent laws to extend drug monopolies, and letting American e-commerce giants sell directly to consumers pose major risks. The risks include harm to farmer incomes, food security, biodiversity, public health, and the survival of small retailers, the Global Trade Research Initiative (GTRI) said. "Reducing tariffs on farm goods could affect the livelihoods of hundreds of millions, while slashing duties on cars could undercut a sector that accounts for nearly a third of India's manufacturing output. The collapse of Australia's car industry .

Govt replaces 'certificate' with 'proof' in Rules of Origin regulations

The amendment, effective from March 18, modifies key rules governing the determination of the country of origin of imported goods - a crucial factor in availing duty benefits under FTAs)

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

India, New Zealand aim to finalise comprehensive FTA within two months

Goyal said that there are hardly any areas where both countries compete. However, there are a few areas of sensitivity, but they can be navigated with mutual respect

India, New Zealand explore digital payments, trade, and investment ties

Prime Minister Narendra Modi, Kiwi PM promise to quickly designate representatives for trade talks

India, New Zealand discuss FTA, direct flights, relaxed customs for traders

Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon have agreed to resume FTA negotiations, explore direct flights, and sign a customs agreement to enhance trade and economic

India should seek reciprocity in free trade agreement talks with EU: GTRI

"While the EU demands zero tariffs on medical devices from India, it maintains high regulatory barriers that make Indian exports difficult in EU markets," GTRI founder Ajay Srivastava said

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 .

Any policy formulation must factor in uncertainty, says P K Mishra

The 1972-batch IAS officer spoke highly of the government's production-linked incentive (PLI) scheme but stressed the importance of its long-term evaluation

India, EU looking to seal FTA deal this year: EC Prez Von der Leyen

A free trade agreement between the EU and India would be the largest deal of its kind anywhere in the world and both sides are looking at firming it up by this year, European Commission president Ursula von der Leyen said on Friday. In an address at a think-tank, the top leader of the 27-nation bloc also said that the EU is exploring a future security and defence pact with India in line with its partnerships with Japan and South Korea. Von der Leyen's comments came ahead of her wide-ranging talks with Prime Minister Narendra Modi. "This world is fraught with danger. But I believe this modern version of great power competition is an opportunity for Europe and India to reimagine their partnership," she said. "In many ways, the EU and India are uniquely placed to respond to this challenge together," she added. Von der Leyen said it is time to take the EU-India strategic partnership to next level. "This is not a time to place limits on our cooperation. Or to get stuck looking for ...

India, UK to resume negotiations on proposed trade agreement from Feb 24

After a gap of over eight months, India and the UK will resume negotiations for a proposed free trade agreement (FTA) here from February 24, an official said. UK's Secretary of State for Business and Trade Jonathan Reynolds will be here for resumption of the talks. He will hold a bilateral meeting with Commerce and Industry Minister Piyush Goyal, the official said. The India-UK FTA negotiations were launched on January 13, 2022. Total 13 rounds of negotiations have been held till December 2023. The 14th round, which began on January 10, 2024, was underway when negotiations were paused by the UK side in May 2024 due to elections in that country. The talks would resume the discussions from the progress achieved previously and seek to bridge the gaps for expeditiously closing the trade deal, the official added. 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 trad

India, EU to hold next round of talks on proposed FTA from Mar 10

India and the European Union will hold the next round of talks on the proposed free trade agreement (FTA) from March 10 to 14, a senior government official said on Monday. Additional Secretary in the Department of Commerce L Satya Srinivas said that before the round the entire delegation of the European Commission will be in India from February 28. Days before the visit of the European Commission team, UK's Minister of State for Trade Policy Douglas Alexander will be in India for a meeting with Commerce and Industry Minister Piyush Goyal on February 24. On February 25th, officials of India and UK will restart talks on the free trade agreement. "We have taken stock of where we left in the last round (14th) and will take it forward during the visit," Satya Srinivas said. India and the UK have held 14 rounds of negotiations on the FTA since its launch in January 2022.

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