Page 5 - Fta Talks

No deadline for conclusion of India-UK trade pact talks: Commerce Secretary

India and the UK are not working under any deadline for the conclusion of negotiations for a free trade agreement as both sides are discussing issues that are "slightly" complex in nature, a senior government official said on Wednesday. Commerce Secretary Sunil Barthwal said that the two countries are working to finalise the issues as early as possible. "We are not working (under) any deadlines...because there are issues which are of slightly complex in nature and which have economic significance for both the countries," he told reporters here. "So we are looking at those issues much more carefully...so there is no deadline as such, we are working under timelines," he added. Joint Secretary in the commerce ministry and India's chief negotiator for the pact, Nidhi Mani Tripathi, said that the two sides continue to discuss the "outstanding issues" which remained unresolved. "At all levels, there have been continuous exchanges to iron out differences and we intend to close as many as

Next round of India, UK talks for free trade agreement expected soon

Chief negotiators of India and the UK are expected to soon hold next round of talks for the proposed free trade agreement to iron out differences on issues such as automobiles, medical devices, and movement of professionals, an official said. The official said that the UK team may come here for the 14th round of negotiations so that the talks can be concluded at the earliest. "Virtual sessions are progressing. But we are planning for a full fledged round of talks. In the full round, both sides discuss all the chapters. Some 60-70 sessions happen parallelly," the official, who did not wish to be named, said. Issues which need resolution include rules of origin; intellectual property rights (IPRs); social security agreement; duty concessions on electric vehicles, scotch whiskey, lamb meat, chocolates and certain confectionary items; liberalisation of norms in services sectors like banking and insurance. Talks are also progressing on the proposed bilateral investment treaty (BIT). Th

India-UK FTA: EAM hopes two sides will find 'landing point' which will work

External Affairs Minister S Jaishankar on Monday said that India and the UK are currently focusing on a free trade agreement and hoped that the two sides will find a "landing point" which will work for both of them. Jaishankar, who is here on a five-day official visit to the UK with an aim to review various aspects of bilateral ties and give "new impetus to the friendly ties", also said that the agenda 2030 put greater emphasis on connectivity on trade on working together when it comes to defence and security, on health and all climate change. "We are focusing on what is officially called an enhanced trade partnership. In common sense, it's called FTA (a free trade agreement) and that is today very much the focus of what the Indian and British systems are negotiating and where we hope that we will find a landing point which will work for both of us," Jaishankar said. The India-UK Comprehensive Strategic Partnership was launched in 2021 along with the India-UK Roadmap 2030 which seek

DPIIT to engage consultancy agency to draw reservation list for FTA talks

The department for promotion of industry and internal tarde (DPIIT) has proposed to engage a consultancy agency to draw a reservation list to be used during negotiations of a free trade agreement (FTA). The list deals with items which do not qualify for commitments under a trade agreement. The DPIIT, being the nodal department for formulation of FDI policy and investment screening, leads the negotiations on investment chapters within FTAs on non-services sectors. The chapter on investment liberalization is accompanied by a 'reservation list' which allows host countries to restrict the commitments to specific sectors/activities. The agency would have to identify about 10-15 non-services sectors in which investment liberalization commitments under International Investment Agreements can be taken and to identify the existing non-conformities in these shortlisted sectors. "It is for the purpose of preparation of the list, DPIIT intends to engage a consultancy agency on a project basis

Scheme to tackle pollution by processing units in sectors on the cards

With an eye on FTAs, govt is considering incentivising industry to invest in solutions

UK PM Rishi Sunak, Modi discuss Israel-Gaza conflict, FTA progress

British Prime Minister Rishi Sunak spoke to Prime Minister Narendra Modi on Friday afternoon during which both leaders discussed the need to de-escalate tensions and the importance of protecting innocent civilians in the Israel-Gaza conflict, Downing Street said. The phone call centred around the situation in the Middle East but also covered bilateral ties and the progress being made towards an ambitious deal in the ongoing India-UK free trade agreement (FTA) negotiations. The leaders discussed the deeply distressing situation in the Middle East and condemned Hamas's attacks on Israel, said a Downing Street spokesperson in a readout of the call. They reiterated that Hamas did not represent the Palestinian people and reflected on the need to de-escalate tensions in the wider region. The Prime Minister (Sunak) also underscored the importance of protecting innocent civilians in Gaza and ensuring aid was able to flow into the country, the spokesperson said. Turning to the friendship ..

India, UK see free-trade deal possibly in December after poll results

There isn't any firm deadline but an announcement could be made after the vote concludes and results are out December 3

India, UK negotiations in full swing for proposed FTA to bridge differences

Negotiations between senior officials of India and the UK are in "full swing" to bridge differences on issues such as rules of origin and services sector, with an aim to conclude the talks for the proposed free trade agreement (FTA) at the earliest, sources said. They said that a small Indian team is also there in London to iron out differences on the rules of origin. "The 13th round of talks are going on. The tough issues are there in both goods and services such as financial services. Talks are also happening on the proposed bilateral investment treaty," one of the sources said, adding differences on intellectual property rights have been bridged. When asked whether the negotiations will be concluded by the end of this month, the source said both the countries are continuously engaging on the remaining differences and We should wait till these negotiations are over". There were reports that the two countries may finalise the agreement by the end of this month. Commerce Secretary

FTA pact with UK critical for India's ambition to become mfg powerhouse

As India and the UK inch closer to sealing a free trade agreement, a forthcoming book says the pact is critical for India's ambition to become a manufacturing powerhouse while the UK seeks to clinch new deals to highlight the benefits of Brexit. In his forthcoming book The Reverse Swing-Colonialism to Cooperation, veteran journalist Ashok Tandon noted that the Free Trade Agreement(FTA), if clinched, will come at a time when many western economies are pinning their hopes on India to become a bulwark against China's growing economic and military clout. The book by Tandon, a former PTI bureau chief in London, called the FTA a most ambitious, fair and balanced pact which would help the two countries to further enhance bilateral commerce and investments. The book is scheduled to be released here on October 18. Officials of India and the UK are holding hectic parleys to conclude the negotiations for the FTA. The talks were launched in January 2022. There are expectations that the pact cou

British delegation to commence next round of India-UK FTA talks on Oct 9

A 30-member official delegation from the UK will start the next round of negotiations for a free trade agreement with the Indian team here from Monday to close remaining issues so that the two countries conclude the talks soon, an official has said. Both countries have recently concluded the 13th round of negotiations. A team led by Commerce Secretary Sunil Barthwal was in London last week to give an impetus to the talks. The UK team dealing with investment-related matters is already here, and the talks for the proposed bilateral investment treaty (BIT) with finance ministry officials are progressing at a faster pace. "The 30-member team will be here tomorrow, and both sides are attempting to close the remaining issues, such as rules of origin. Everything is at the closure level," the official said. The 'rules of origin' provision prescribes that minimal processing should happen in the FTA country so that the final manufactured product may be referred to as goods originating in tha

UK PM Sunak reiterates commitment to get free trade deal with India done

British Prime Minister Rishi Sunak has reiterated his commitment to closer India-UK ties across different sectors, including a free trade agreement (FTA) between the two countries. Addressing a reception by the diaspora group Conservative Friends of India (CFIN) on the sidelines of the ongoing Conservative Party conference in Manchester on Monday evening, the British Indian leader began by reflecting upon his successful first visit to India as Prime Minister for the India-led G20 Summit last month. I've just come back from my first trip to India as Prime Minister and that was very successful, said Sunak. Everybody here already knows just how strong the relationship between our two countries is. At the G20, we really saw a glimpse of what the future of that relationship can be, with closer cooperation on absolutely everything from trade to defence, innovation, security, research, and I hope a free trade deal, and we can get it done, he said. The 43-year-old politician, who is leadin

FTA talks 'laser-focussed': UK officials as trade minister heads to India

India and the UK have made good progress in closing chapters and the free trade agreement (FTA) negotiations are now laser-focussed on goods, services and investment, UK officials said on Wednesday ahead of Business and Trade Secretary Kemi Badenoch's visit to India to attend the G20 summit. After the G20 Trade and Investment Ministerial Meeting in Jaipur, which is scheduled for Thursday and Friday, Badenoch is expected to head to New Delhi for bilateral talks with her Indian counterpart, Commerce and Industry Minister Piyush Goyal. Their discussions will coincide with the ongoing twelfth round of FTA negotiations that are underway in Delhi since last week. The UK and India are committed to working towards the best deal possible for both sides. We've made good progress in closing chapters, and are now laser-focused on goods, services, and investment, said a UK Department for Business and Trade (DBT) spokesperson. While we cannot comment on ongoing negotiations, we are clear that we

India, Asian decision on review of FTA in goods expected tomorrow

A decision on a long pending issue of initiating a review of the existing free trade agreement on goods between India and the 10-nation Asean bloc may be taken up during a meeting in Indonesia on Monday, an official said. The issue will come up for discussion and decision during the India-Asean economic ministers meeting on Monday. The meeting is being held on the sidelines of the ongoing meeting of the Economic ministers of ASEAN. An Indian delegation is already there for the deliberations. India has asked for the review of the agreement with an aim to eliminate barriers and misuse of the ASEAN India Trade in Goods Agreement, which came into effect on January 1, 2010. The agenda will come up for discussion and decision tomorrow during the India-Asean (Association of Southeast Asian Nations) economic ministers meeting, the official said. Members of the Asean include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. In general

Peru looks at exporting avocados, fresh grapes, blueberries, gold to India

The two countries started negotiations for an FTA in 2017

In a first, non-trade issue gender equality included in FTA talks

Led by Trade Minister Piyush Goyal, India's approach to FTA talks has seen a perceptible shift

Demand on data-related issues, concessions on dairy out of India-UK FTA

Protecting the interest of domestic players, India has kept demands of Britain on data related issues and giving any kind of duty concessions on dairy sector out of the ambit of the proposed free trade agreement being negotiated between the two countries, sources said. However, India is looking at providing duty concessions on auto, and certain confectionery items, they said. The negotiation for the agreement has reached a critical stage and in all likelihood it could be concluded by October end or November. The talks received a great impetus due to the recent visit of Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal to London in July, where both held a series of meetings with different stakeholders including senior British officials. The negotiation would get a further fillip during the meetings of trade ministers of India and the UK at the sidelines of G20 trade ministers meeting this month in Jaipur. "The visit of the Indian minister and secreta

India, Peru to resume FTA talks to promote commerce, investment: Official

India and South American country Peru have decided to resume negotiations for a proposed free trade agreement (FTA) with an aim to promote two-way commerce and investment, a top government official said on Friday. "We have decided to proceed with the FTA negotiations. We would be working out the priority areas...Post September, we will start engaging," Commerce Secretary Sunil Barthwal told reporters here. He also said that Chile is also requesting a similar agreement. "If the countries are interested in FTAs, we will also look into possibilities," he said at the sidelines of CII's India-LAC conclave. The talks for an FTA were halted after a few rounds due to the breakout of the Covid-19 pandemic in 2020. The main chapters of the trade agreement could include market access for goods, trade in services, movement of professionals, investments, dispute settlement, technical barriers to trade, trade remedies, rules of origin of goods, customs procedures and trade facilitation. In an

12th round of India, UK free trade agreement talks to begin from August 7

As India and the UK are close to concluding negotiations for a proposed free trade agreement (FTA), chief negotiators of both countries will hold the 12th round of talks from August 7 here, an official said. Both sides are looking at concluding the talks before the end of the year. The main issues which could come up for discussions in this round include investment treaty, reduction of duties on auto and whiskey and matters pertaining to services, the official said. The 11th round of talks was concluded last month. For that round, Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal visited London and took stock of the negotiations. Out of the total 26 chapters in the FTA, 19 have been closed. Investment is being negotiated as a separate agreement (bilateral investment treaty) between India and the UK and it would be concluded simultaneously with the free trade agreement. In the rules of origin chapters, product specific rules are being negotiated whi

India-UK FTA: Next meet looks to build consensus on rules of origin, IPR

Both sides 'very close' to concluding trade deal

India has asked Japan, South Korea to renegotiate FTAs: Piyush Goyal

During FY23, India's trade deficit with Japan rose to $11.03 billion from $8.22 billion a year ago as exports grew at a slower pace as compared to imports