Page 4 - Free Trade Agreements

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 ...

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