Page 3 - Free Trade Agreements

India, US complete 5th round of talks for trade pact: MoS Jitin Prasada

Negotiations for the proposed bilateral trade agreement between India and the US were launched in March 2025, and so far, five rounds of talks have been held, Parliament was informed on Tuesday. Similarly, twelve rounds of negotiations have been held so far between India and the European Union (EU) for the proposed free trade agreement. The last round was held from 7-11 July in Brussels. "India-US bilateral trade agreement negotiations were launched in March 2025. Five rounds of negotiations have been held, the last being from July 14-18, 2025, at Washington," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. Replying to a separate question, the minister informed that intellectual property (IP) filings in the last five years have increased by 44 per cent to 6,89,991 in 2024-25 from 4,77,533 in 2020-21. The highest growth was observed in Geographical Indications (GI) with a 380 per cent increase, followed by Designs (266 per cent),

Explained: What the India-UK free trade deal means for both economies

India and the UK are likely to sign a long-awaited free trade deal during PM Modi's visit to London on July 24, aiming to boost trade, cut tariffs, and deepen economic ties

India should negotiate trade deal with US on its own terms: EAC-PM chief

India should negotiate a trade agreement with the US on its own terms, keeping in view the national interest, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev has said. Dev expressed hope that India will have an advantage over other countries on tariffs once the Free Trade Agreements (FTAs) are signed, and it would boost exports. "The overall approach of India is negotiating trade agreements with countries on its own terms and keeping in view the national interests. The negotiations are going on and the ultimate decision depends on the mutual interests of both countries," he told PTI. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America. In addition, Indonesia has commit

PM Modi likely to visit UK this month; India-UK FTA signing on the cards

Prime Minister Narendra Modi is likely to travel to the United Kingdom by the end of this month for a visit that could see both sides formally ink the landmark India-UK free trade deal and explore ways to expand bilateral ties in defence and security sphere, diplomatic sources said on Tuesday. Both sides are in the process of finalising the dates for PM Modi's visit to the UK by the end of July or the first part of August, they said. Earlier, there were indications that British PM Keir Starmer will visit India first. It is learnt that the British prime minister may visit India later this year. India and the UK are expected to formally sign the free trade deal during PM Modi's visit to London, the sources said. In May, India and the UK sealed the free trade agreement that is expected to benefit 99 per cent of Indian exports from tariffs and will make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. Along with

No trade deal under pressure; India's interest first, says Goyal on US pact

India does not enter into any trade agreement based on deadlines and will accept the proposed trade deal with the US only when it is fully finalised, properly concluded and in the national interest, Commerce Minister Piyush Goyal said on Friday. He also said that India is negotiating free trade agreements (FTAs) with different countries, including European Union, New Zealand, Oman, the US, Chile, and Peru. FTAs are possible only when both sides get benefitted and it should be a win-win agreement, he told reporters when asked about the proposed interim trade agreement with the US. "National interest should always be supreme. Keeping that in mind, if a deal is made then India is always ready to deal with developed countries," Goyal said. When asked if an interim trade agreement between the two countries is possible by July 9, he said, "India never does any trade deal based on deadline or time frame. When the deal is done properly, and is completely finalised and is in the country's .

Govt working on a separate PLI for garments: Textile minister Giriraj Singh

The Indian textile industry, which was worth $112 billion a decade ago, has grown by nearly 60 per cent to $176 billion today and our target is to grow it to $350 billion by 2030, says Giriraj Singh

Jaishankar calls India's trade pacts with mature markets 'space to watch'

Jaishankar says India is now focusing on FTAs with mature, rule-bound markets like the UK, EU, and US, moving away from Southeast Asia to ensure balanced, transparent trade partnerships

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

Held 3 meetings in 35 days with EU official to push FTA talks, says Goyal

Commerce and Industry Minister Piyush Goyal has held three meetings within a short span of 35 days with the European Commissioner for Trade Maros Sefcovic with an aim to give an impetus to the reposed negotiations for a free trade agreement. Goyal said on Thursday that India has already signed similar agreements with four-European nation bloc EFTA and the UK. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Now, India is in the process of concluding the negotiations with the 27-nation bloc European Union. "We have held three meetings in 35 days. It shows our shared commitment for the FTA... we are trying to do it faster," Goyal told reporters here. The minister is here on a two-day visit. He is meeting leaders and businesses to boost trade and investments between the two countries. The first and the second meetings between Goyal and Sefcovic were held on May 1 and May 23 in Brussels, while the third meeting concluded on June

Good news very soon on India-Oman free trade agreement: Piyush Goyal

Commerce and Industry Minister Piyush Goyal has said that negotiations between India and Oman for the proposed free trade agreement (FTA) are progressing, and some "good news" may come "very soon" on that. The negotiations received a much-needed impetus after the visit of Goyal to Muscat in January this year. The talks for the agreement, officially dubbed as the Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. "I think you will see some good news very soon on the Oman FTA," the minister told reporters here when asked whether the FTA talks with Oman can be concluded this year. Goyal is here on an official visit to hold talks with French leaders and businesses to boost trade and investments. He will also attend a mini-ministerial meeting of the World Trade Organization (WTO) on June 3. In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease

India's auto duty offer under UK FTA linked to engine, vehicle price quotas

India's duty concession offer for the auto sector under the free trade agreement (FTA) with the UK is "very nuanced" with relaxations and quotas linked to engine capacity and vehicle prices, an official said. India has included adequate safeguards in the agreement with the UK to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years, the official said. "The duty cut and quota depends on engine capacity and price of vehicles. A lot of nuances are there in the auto sector. India's offer to the UK is very nuanced," the official added. India and the UK, on May 6, announced the conclusion of negotiations for the trade pact that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double the two-way commerce by 2030 from the present USD 60 billion. Tariffs on automotive imports will b

Gokaldas Exports slips 10% in 2 days post Q4 results; time to buy?

The management said there is a considerable amount of effort required to improve the margins further over the next few years as the company continue to consolidate and grow the business

Medtech industry seeks FTA advisory board to counter non-tariff barriers

Industry groups want a joint FTA advisory body to address regulatory hurdles and dumping risks as India negotiates trade deals with the US, EU and UK

India-UK trade deal signals that globalisation momentum remains strong

This agreement clearly reflects the importance of political momentum and compromise

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 ...