Page 8 - Free Trade Agreements

Top headlines: Can Tesla sell a Rs 20L electric car, FTA with UAE, and more

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Commerce secretary Barthwal visiting UK for free-trade agreement talks

During the visit (July 17-18), the secretary will hold discussions with senior officials of the UK about the proposed trade agreement, which both the countries are negotiating

India-UK FTA: Ongoing talks to clear thorny issues like labour, environment

Till now, out of 26 policy areas or chapters, 14 chapters have been closed for negotiations, while significant progress has been made in other chapters

India, UK agree to add momentum to FTA talks during Piyush Goyal's visit

India and the UK have agreed to add momentum to the ongoing free trade agreement (FTA) negotiations, Union Minister of Commerce and Industry Piyush Goyal said on Tuesday. Goyal, who is on a short visit to the UK, took to Twitter after meeting his UK counterpart Business and Trade Secretary Kemi Badenoch to say they had agreed to keep up work towards a mutually beneficial deal. India and the UK started round 11 of their FTA talks last Wednesday, which is expected to conclude on Friday. Held a meeting with the UK Secretary of State for Business and Trade Kemi Badenoch in London. Discussed how both sides can add further momentum to the India-UK Free Trade Agreement negotiations for a mutually beneficial deal, Goyal tweeted. It came a day after a UK government source said the senior Indian ministerial visit to the UK in the midst of a negotiation round shows there is political will to make progress towards an ambitious trade deal. The potential is clear a strong trade deal will ...

Piyush Goyal to visit UK for FTA negotiations, review progress of TEPA

The India-UK bilateral trading relationship was worth Pound 34 billion in 2022, growing by Pound 10 billion ( Rs 102 crore) in one year

Very optimistic about FTA with India, says UK Investment Minister

An India-UK free trade agreement (FTA) is really important for both nations and it is for businesses on both sides to help drive that agenda, UK Minister for Investment Lord Dominic Johnson said in London on Tuesday. Addressing a UK-India Infrastructure Summit hosted by the City of London Corporation as part of the India Global Forum UK-India Week, Johnson said he is very optimistic about an FTA even as he declined to put a timeframe to it. India and the UK recently concluded their tenth round of FTA negotiations and an 11th round is set to begin in the next few weeks towards a comprehensive agreement expected to significantly enhance the bilateral trading relationship worth an estimated 34 billion pounds in 2022. I'm very optimistic about a free trade deal with India, said Johnson. It is hugely important for India if it wants to get the capital flows it needs to take itself to the next step, which is to become a global hyperpower economically. And it's very good for the UK if we'r

India actively considering CEPAs, FTAs to boost textile exports: Goyal

Union Minister Piyush Goyal on Monday said India is actively considering entering into free trade pacts and comprehensive economic partnership agreements to tap new markets, increase exports and create opportunities for the domestic textile industry. The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significant manner. Goyal said PM MITRA Parks will lead to a reduction of logistic costs due to a cluster-based approach to manufacturing and production of quality products with appropriate testing facilities. The minister emphasised that countrymen deserve the best quality of garments and this should be ensured by all the stakeholders. He encouraged the industry to focus on quality and test their products to comply with quality standards. Goyal said India is pioneering sustainable textiles, contributing to a lesser carbon footprint and promo

Top headlines: Monsoon on track, India to start FTA talks with SACU

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India should consider free trade agreement with Egypt, say exporters

India should consider negotiating a free trade agreement (FTA) with Egypt as the Mediterranean nation holds huge potential for the domestic industry in various sectors like agri products, steel items and light vehicles, according to exporters. Prime Minister Narendra Modi is in Cairo for a two-day state visit at the invitation of Egyptian President Abdel Fattah El-Sisi. Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said that India and Egypt have historic trade relations, which are robust and fairly balanced. India's exports increased to USD 4.1 billion in 2022-23 from USD 3.74 billion in 2021-22. However, imports from that country declined to about USD 2 billion against USD 3.5 billion in 2021-22. Fertiliser, crude oil, chemicals, raw cotton, and raw hides are major import items from Egypt. The main export items include wheat, rice, cotton yarn, petroleum, meat, flat-rolled products, ferroalloys (related to iron) and light vehicles. "The prime minist

India and UAE in talks to resolve customs concerns raised by exporters

Exporters have expressed their concerns regarding 'rules of origin' requirements outlined in the free trade agreement signed by both nations

Top headlines: India seeks import duty relaxation, US flags policy barriers

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Top headlines: FM on Q4 growth momentum, Reliance Cap lenders meet & more

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UK Parliament panel criticises lack of information on FTA talks with India

A cross-party Parliament committee in charge of scrutinising the UK government's trade affairs on Friday strongly criticised the lack of information provided around Britain's ongoing negotiations with India for a free trade agreement (FTA). The House of Commons International Trade Committee, which is set to be dissolved next week to make way for a new Business and Trade Committee in keeping with the creation of the new merged department by Prime Minister Rishi Sunak, said in many cases it gleaned more detail on the talks from reports in the Indian media often citing unnamed Indian government officials. India and the UK are negotiating an FTA to enhance the bilateral trading relationship worth 34 billion pounds in 2022, with the eighth round of negotiations concluding in New Delhi at the end of last month and the next round expected in the coming weeks. Parliament must be kept more fully informed about the negotiations. It cannot be right that we have obtained more details from the

India-Israel FTA should be as wide as possible: Israeli Minister

The proposed free trade agreement (FTA) between Israel and India should be as wide as possible to enable more and more trade as it brings people together, Israel's Minister of Economy and Industry M K Nir Barkat said on Tuesday. The minister said he will hold discussions with the Indian side regarding an FTA between the two countries, negotiations for which have been going on for over a decade. "As a government to government I am going to be proposing to your ministers to naturally expand the free trade agreement, focus on business development in a smart way, share knowledge and experience as much as possible," Barkat said at a CII event during his visit here. He said both sides will have to focus on complementary areas for the proposed free trade deal where India and Israel hold a competitive advantage. "It (FTA) should be as wide as possible to enable more and more trade as free trade brings the people together," Barkat said. He added that Isreal has a lot to offer in sectors li

Will have great FTA with India, negotiations going well: Baroness Verma

United Kingdom House of Lords Member Baroness Verma said the UK and India will have a great Free Trade Agreement (FTA) deal and that the negotiations between the two countries are going well

Sunak, Modi to expedite progress on India-UK FTA: Downing Street

British Prime Minister Rishi Sunak spoke to Prime Minister Narendra Modi on Thursday and agreed to expedite progress to resolve outstanding issues in the India-UK free trade agreement (FTA) negotiations. In a readout of the call between the two leaders, Downing Street said that Sunak reiterated his condemnation of the unacceptable violence outside the Indian High Commission in London last month and updated Modi on the steps being taken to ensure the security of Indian diplomatic staff. The leaders agreed to follow up their discussions at the G7 meeting in Japan next month and the G20 Summit being hosted by India later in the year. The leaders reflected on the close friendship between the two countries, and agreed great progress was being made on the 2030 UK-India Roadmap," a Downing Street spokesperson said. "Discussing ongoing negotiations on a UK-India Free Trade Agreement, the leaders reflected on the huge opportunities a deal would offer to Indian and British businesses and ...

Not seeking permanent immigration visas from any country in FTA: Goyal

India is not seeking permanent immigration visas from any country under a free trade agreement (FTA) and is only looking to engage with trading partners on mobility like temporary visas for students, Commerce and Industry Minister Piyush Goyal said on Thursday. He said that some people mix up mobility and immigration but they are two separate subjects. Mobility is about expanding trade, business, providing temporary visas for people who visit a country either for work or for studies, he said. "India is not seeking permanent immigration visas from any country... We are only looking to engage with countries on mobility. We are concerned only about our ability to give services for business and investments through temporary visas, for students who take training in the post study period... (and) for which we have found a lot of acceptance in all the countries with which we are talking," he told reporters here. He added that post-Covid, the world is realising that remote working is a gr

Cryptocurrency to FTA: Nirmala Sitharaman discusses range of issues in US

Sitharaman said that the World Trade Organisation (WTO) needs to be more progressive and must give space to countries that have something different to say

Who will India trade with?

Regional consolidation of trade may leave India out in the cold

India, European Union speed up work on free trade agreement negotiations

The fifth round of negotiations will be held in New Delhi from June 19-23, 2023