Fta Talks

India opens central govt procurement to UK firms under new trade pact

After the UAE, India has opened its central government procurement for British companies under the free trade agreement (FTA) announced on Tuesday, an official said on Wednesday. The official said British firms would be allowed to participate in the procurement of goods and services of the non-sensitive central-level entities only. However, access to state and local government-level entities will be excluded. "Eligible UK suppliers would be allowed to bid for domestic tenders as deemed Class II local suppliers only," the official said, adding carve out is also provided for 'Make in India' policy as well as medium and small enterprises. Earlier, India opened the government procurement segment in the comprehensive trade pact with the UAE. Under that pact, UAE firms are allowed to participate in procurement tenders worth over Rs 200 crore. In 2020, the government modified public procurement norms to give maximum preference to companies whose goods and services have 50 per cent or mor

Piyush Goyal highlights India-UK trade ties at London's Business Roundtable

Commerce and Industry Minister Piyush Goyal, who is in London on a two-day visit focused on bilateral trade and investment ties, addressed an India-UK Business Roundtable bringing together prominent business leaders and CEOs from both countries on Tuesday. The roundtable heard from the minister about the wide-ranging investment opportunities across sectors in India and the potential for innovation-led growth with greater two-way partnerships. Highlighted opportunities to strengthen economic ties, drive innovation-led growth, and expand investment avenues between India and the UK, Goyal said after the roundtable. It follows his interactions on Monday with a range of senior business leaders to explore the potential for greater collaborations with the UK. After a meeting with UK Business and Trade Secretary Jonathan Reynolds to advance the ongoing Free Trade Agreement (FTA) negotiations, Goyal held talks with Revolut Chair Martin Gilbert with a fintech focus and De Beers Group CEO Al

India, EU exploring possibility to negotiate FTA in phases: Report

India and the European Union (EU) are exploring the option of negotiating their free trade agreement (FTA) in phases amidst an uncertain global trade environment following imposition of sweeping tariffs by the US, an official said. India has followed the practice of negotiating such trade pacts in two phases with Australia. Negotiating the FTA in two phases allows both sides to first conclude areas where agreement can be reached more easily. Complex issues can be dealt with at a later stage. "FTA in tranches are being explored with the EU," the official said. The two sides concluded the 10th round of negotiations in Brussels last month for the proposed agreement. The next round of talks is expected in May here. The official added that after the visit of European Commission President Ursula von der Leyen with the EU College of Commissioners or senior political leaders of the bloc here, the talks are moving in a positive direction and the momentum is also building. According to tra

Developed nations easing stance on non-trade issues in FTA talks: Report

Developed countries are indicating that they are ready to proceed with negotiations for proposed free trade agreements (FTAs) without insisting much on the inclusion of non-trade issues like sustainability and climate obligations, according to sources. They said gradually those countries are suggesting that "let's start business first, we will look into the rest of the extraneous issues later". In a free trade agreement negotiations, trading partners should keep all the options open so that things can move smoothly. Major countries that used to pressure on issues like sustainability and climate have now gone quiet, one of the sources said. India has always maintained issues like sustainability, labour, and the environment should be addressed in separate forums or international platforms rather than being integrated into trade agreements. The International Labour Organization (ILO) is there for for labour standards, and the United Nations Framework Convention on Climate Change (UNF

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

New Zealand PM Luxon looks to sign FTA pact with India in 60 days

New Zealand Prime Minister Christopher Luxon on Tuesday said he looks forward to signing a free trade agreement with India in 60 days, a move which is expected to increase bilateral trade by 10 times over ten years. After a gap of about ten years, India and New Zealand on Sunday announced resumption of negotiations for a proposed free trade agreement to boost economic ties. The New Zealand Prime Minister is here on a four-day visit from March 16. "Let's drive this relationship forward, and I look forward to Prime Minister Modi signing that agreement in 60 days time," Luxon said while addressing the India-New Zealand Economic Summit organised by industry body FICCI. According to trade experts, the tricky point in the talks would be duty concessions on agri products like apple, kiwi, dairy, and wine. "I can tell you that together, there's every possibility of achieving that 10x growth in the next 10 years," Commerce Minister Piyush Goyal said. "...if we work in the spirit of ...

India important for New Zealand's prosperity, security: PM Luxon in Delhi

Shortly after arriving in the national capital, New Zealand Prime Minister Christopher Luxon on Sunday described India as a country of "huge importance" for his nation's prosperity and security even as the two sides announced launching negotiations for a comprehensive free trade pact. On Monday, Luxon will hold wide-ranging talks with Prime Minister Narendra Modi and will deliver a lecture at the inaugural session of the Raisina Dialogue as the chief guest. The Kiwi leader is visiting India from March 16 to 20. He is accompanied by one of the largest delegations a New Zealand prime minister has ever travelled with. "I've landed in India - a country of huge importance to New Zealand's prosperity, security and society. India provides huge economic opportunity for Kiwis," the New Zealand PM said on 'X'. "That's why I'm here and that's why I've brought a senior delegation of business and community leaders with me." Ahead of the Modi-Luxon talks, the two nations announced the launch of

India, New Zealand restart FTA negotiations after a 10-year hiatus

The announcement coincides with New Zealand Prime Minister Christopher Luxon's visit to India

India, New Zealand resume FTA talks after a nearly decade-long pause

India and New Zealand on Sunday announced resumption of negotiations for a proposed free trade agreement, after it was stalled in 2015. India and New Zealand began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010 to boost trade in goods, services, and investment. However, after nine rounds of discussions, the talks stalled in 2015. "The two nations are pleased to announce the launch of negotiations for a comprehensive and mutually beneficial India-New Zealand Free Trade Agreement (FTA) negotiations," the commerce ministry said. The announcement assumes significance as the Prime Minister of New Zealand Christopher Luxon is here on a four-day visit from March 16. The ministry made the announcement after the meeting of Commerce and Industry Minister Piyush Goyal and Todd McClay, New Zealand's Minister for Trade and Investment. "The India-New Zealand FTA negotiations aim to achieve balanced outcomes that enhance supply chain integration and improve mar

EU pushes for tariff cuts on whiskey, wine, cars in India trade talks

The EU seeks lower tariffs as India's biggest FTA nears finalisation after nine rounds of talks, with the next set for March 10-14, boosting access for textiles, leather, and marine exports

India, UK resume negotiations for FTA, aims to triple trade in 10 years

India and the UK on Monday discussed to advance the India-UK free trade agreement (FTA) negotiations while ensuring that the pact is balanced, ambitious and mutually beneficial. In a post on X, Commerce and Industry Minister Piyush Goyal said both countries reaffirmed their commitment to strengthening trade and investment ties. He held a meeting with UK Secretary of State for Business and Trade Jonathan Reynolds here. "During the meeting, our discussions focused on advancing the India-UK Free Trade Agreement negotiations and ensuring that the agreement is balanced, ambitious and mutually beneficial," Goyal said. The India-UK FTA negotiations were launched on January 13, 2022. 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 traded between them. They also ease norms for promoting trade in services and bilateral investments. The bilateral trade between India and

India, UK to resume talks on proposed trade agreement from Feb 24: Official

India and the UK are expected to resume the talks for the proposed free trade agreement from February 24, an official said. The UK trade minister is likely to visit the national capital soon, the official said. The talks for the proposed FTA began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles. The agreement is aimed at boosting bilateral trade and investments. In such pacts, two countries either eliminate or significantly reduce customs duties of maximum goods traded between them. They also ease norms for promoting trade in services and bilateral investments. The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty. On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, electric vehicles, lamb meat, chocolates and certain confectionar

UK trade secy Jonathan Reynolds to visit India in Feb for FTA talks

Britain's Secretary of State for Business and Trade, Jonathan Reynolds, on Monday revealed plans to visit India next month with a focus on finalising the Free Trade Agreement (FTA) negotiations as part of the UK government's ambition to elevate the bilateral partnership across all sectors. Addressing India Global Forum's (IGF) annual UK-India Parliamentary Lunch at the House of Lords complex in London, Reynolds highlighted the strength of the bilateral trading relationship which stood at GBP 41 billion in the year until September 2024. However, the Cabinet minister went on to reaffirm the British government's commitment to improve trade between India as the fifth and the UK as the sixth largest economies of the world. I want to reaffirm the UK's commitment to deliver growth for both countries through the trade deal that we're talking about, through the Comprehensive Strategic Partnership and the Technology Security Initiative; and I can let you know exclusively, I hear what you say

India, Oman trade ministers discuss advancing FTA negotiations pact

Trade ministers of India and Oman on Monday reviewed progress of the proposed free trade agreement (FTA) between the two countries and focused on advancing the negotiations for the pact. The agreement was discussed between Commerce and Industry Minister Piyush Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef in Muscat. "Our talks focused on advancing negotiations on the Comprehensive Economic Partnership Agreement (CEPA), strengthening trade and investment ties, and exploring avenues to further deepen our bilateral partnership," Goyal said on X. Goyal is in Muscat for the Joint Commission Meeting, which will be held on January 28. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations for the agreement, officially dubbed CEPA, formally began in November 2023. In such agreements, two trading partners either significantly reduce or eliminate customs

India-EU free trade agreement negotiations make 'significant progress'

There is a significant progress in the negotiations for the proposed free trade agreement (FTA) between India and European Union (EU), an official said on Thursday. Commerce and Industry Minister Piyush Goyal was in Brussels last week to meet European Commissioner for Trade Maros Sefcovic to take stock of the progress of the negotiations. "Good progress is there on India-EU FTA. There is a significant progress in talks," the official said, without divulging more details. During the meeting between Goyal and Sefcovic, the two sides agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial trade pact. The two leaders have also outlined political directions for both the teams to develop a mutually beneficial agenda for trade and investment and a robust FTA in an expedited manner to meet global challenges. The meeting came ahead of the 10th round of talks between India and the EU, which is scheduled from March 10-14 in Brussels. In the ninth round,

Piyush Goyal discusses FTA with EU Commissioner during Brussels visit

Goyal is on a visit to Brussels for a High-Level Dialogue with Maros Sefcovic from January 18-20

Piyush Goyal to travel to Brussels on Saturday for FTA talks with EU

Meeting to give 'political direction' to expedite India-EU FTA negotiations

Nearly a decade on, New Zealand keen to restart free-trade agreement talks

The two countries entered into FTA negotiations 14 years ago, but talks stalled after 10 rounds of discussions, and no formal round of negotiations has been held since February 2015

India-UK FTA talks likely to resume in Jan aiming to resolve pending issues

India and the UK are expected to hold the next round of talks for a proposed free trade agreement (FTA) in January to resolve the pending issues and close the negotiations, a senior official said on Thursday. The talks for the proposed FTA began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles. In November, an official statement said that the dates for the FTA talks in early 2025 would be finalised through diplomatic channels. The negotiations would resume the discussions from the progress achieved previously and seek to bridge the gaps for expeditiously closing the trade deal. The next round of talks is likely to start at January-end, the official said. The Indian industry is demanding greater access for its skilled professionals from sectors like IT and healthcare in the UK market, besides market access for several goods at nil customs duty. On the other hand, the UK is seeking a significant cut in import duties on g

FTA an ongoing process, UK govt ready to restart negotiations: Indian envoy

Following a bilateral meeting with Prime Minister Narendra Modi on the sidelines of G20 Summit in Brazil, British Prime Minister Keir Starmer announced the relaunch of FTA talks in 2025