Page 6 - Fta Talks

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

India asking for renegotiation of FTAs with Japan, S.Korea -trade minister

Goyal also termed India's free trade agreement with the Association of Southeast Asian Nations (ASEAN) "ill-conceived" and "unfair" to the Indian industry

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Women-led SMEs to benefit from proposed FTA with India: UK minister

Women-owned and women-led small and medium enterprises (SMEs) are set to benefit from a proposed India-UK free trade agreement (FTA) as part of a "Trade and Gender Equality" chapter which has been provisionally closed at the end of 10 rounds of negotiations, UK Business and Trade Secretary Kemi Badenoch has said. In response to the House of Commons Business and Trade Committee, which scrutinises her department's work, the cabinet minister also revealed last week that short-term ease of business mobility and mutual recognition of professional qualifications were among the topics in discussion as part of the FTA. India and the UK have been negotiating an FTA since January last year to significantly enhance the bilateral trading relationship, worth an estimated GBP 36 billion in 2022, with an 11th round of negotiations scheduled for this month. We have also provisionally closed a Trade and Gender Equality chapter in which we have agreed to undertake cooperation activity, said Badenoch,

No deal for access to Britain's labour market: UK on India FTA talks

Britain launched trade talks with India in January last year, and Prime Minister Rishi Sunak has stressed that he won't sacrifice quality for speed in negotiations

India, UAE to review CEPA progress next week, to chalk out data sharing

A delegation from the UAE will be in the national capital next to meet key officials from the department of commerce, a person aware of the matter said

India-UK FTA negotiations conclude with 'detailed' policy discussions

The ninth round of India-UK free trade agreement (FTA) negotiations concluded with detailed discussions across a range of policy areas, the UK government said on Wednesday. A joint outcome statement issued by the Department for Business and Trade (DBT) revealed that Round 9 of the ongoing talks took place between April 24 and 28 in a hybrid format, with some Indian officials travelling to London and others attending virtually. There is no date set for the 10th round of negotiations, which is likely to be hosted by New Delhi, also in a hybrid format. In continuation of the eighth round of negotiations held during 20-31 March 2023 in New Delhi, the United Kingdom and the Republic of India held the ninth round of talks during 24-28 April for a UK-India FTA, the DBT statement said. As with previous rounds, these were conducted in a hybrid fashion a number of officials from India travelled to London and others attended virtually. During the round, detailed discussions took place across

FTA between Israel, India to be discussed today, informs Israeli Minister

Talking about the sectors that will figure in their discussions, the minister said the talks will be on wide-ranging sectors to enable more and more trade and "free trade brings people together"

Europe open for international trade, says German Chancellor Scholz

German Chancellor Olaf Scholz also said he is doing his utmost to ensure that the free trade agreements with India and some other countries gets sealed