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Page 4 - Free Trade Pact

Diwali an auspicious date to sign India-UK FTA: British High Commissioner

Currently, both countries are at the last leg of negotiations towards a trade deal that kick-started in January

Updated On : 20 Sep 2022 | 7:20 PM IST

'Signing India-UK free trade pact will be best way to celebrate Diwali'

The best way to celebrate Diwali will be to have a good free trade agreement between India and the United Kingdom, British High Commissioner to India Alex Ellis said on Tuesday. He observed that the free trade agreement (FTA) will lead to creation of more jobs, growth and opportunities for both India and the UK. Speaking on the sidelines of an event, he asserted that there was "high ambition" to complete the India-UK FTA by Diwali -- a deadline set earlier by both nations -- and added "that would be an auspicious date". Asked if one could expect a 'Diwali Dhamaka' for India in relation to the FTA, the British High Commissioner quipped, "I hope so." Earlier addressing an Assocham conference, Ellis said: "We have the aim to finish the FTA by Diwali." Speaking at the conference, Joint Secretary in the Commerce and Industry Ministry Rajendra Ratnoo said leaders from the countries "are very very committed towards this FTA and have set a very, very ambitious goal of gifting to the peopl

Updated On : 20 Sep 2022 | 5:19 PM IST

India would be happy to discuss trade pact with US, says Piyush Goyal

India would be "happy and willing" to negotiate a trade pact with the US, provided America decides to look for a new free trade partner, Commerce and Industry Minister Piyush Goyal has said here. He said the US administration, as a policy, is not looking at a free trade agreement (FTA) with any new partner. "Should they change their mind, India would be happy and willing to discuss. Without that also, we are engaged in attracting investment, technology, trade between the two countries," the minister told reporters here. During the Trump administration, India and the US had discussed a mini-trade deal to boost economic ties. Meanwhile, addressing the US India Strategic Partnership Forum (USISPF), Goyal said talks for a trade deal are progressing with Canada. "Canada (Minister of International Trade Mary Ng) and I are very confident that we would be done with our early progress trade agreement by December," he said. On the proposed India-Israel agreement, the minister said: "I stil

Updated On : 06 Sep 2022 | 10:55 PM IST

India-UK free trade agreement to help boost services exports: SEPC

Implementation of the proposed India-UK free trade agreement will help to boost the country's services exports, particularly from legal, accounting and auditing sectors, Services Export Promotion Council (SEPC) said on Friday. SEPC Chairman Sunil H Talati said that the British market holds huge potential for domestic services sectors like medical transcription, legal, accounting and auditing. Negotiations for the trade pact between the countries are at advanced stages and expected to conclude by the end of this month. After the conclusion of the talks, it would take some time to implement the agreement. Under this agreement, both countries may significantly cut or eliminate customs duties on the maximum number of goods traded between them. Besides, norms would be relaxed to promote trade in services. "Britain holds a lot of potential for our services exports. The agreement will help in boosting services exports," Talati told PTI. He also said that the council is hopeful of achievi