Page 16 - Fta

India, Peru to resume FTA discussions to promote commerce, investment

The official also said that Chile has also shown interest in a trade deal with India. Both countries had in 2005 also signed a preferential trade agreement

Hopeful of finalising certain FTAs in next few months: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Saturday said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union (EU). "We can leverage the free trade agreements with the UAE and Australia and we are hopeful that in the next few months, we will finalise many more free trade agreements to help you grow your business with zero duty on finished leather products and footwear available for you to exploit bigger and better markets," Goyal said while addressing footwear industry representatives here. The minister also asked the industry to focus on quality and sustainable manufacturing processes to tap business opportunities in the developed world. The Indian footwear and leather industry is not only a major foreign exchange earner but being a labour-intensive secto

India, Britain could sign free trade agreement this year: Trade ministry

New Delhi sees an FTA with Britain as crucial to hopes of becoming a bigger exporter, while the UK would obtain wider access for its whisky, premium cars and legal services

FTAs: Learning from peers

India should emulate its peers and adopt more flexible negotiating approaches in its FTAs

UK-India FTA to provide fair level playing field: Chivas Brothers

Chivas Brothers, a leading manufacturer of Scotch whiskey, expects the proposed free trade agreement between the UK and India would provide a "fair level playing field" on customs duties for liquor companies, its Chairman and CEO Jean Etienne Gourgues said. He also said that the proposed agreement may also help increase investments and promote domestic manufacturing of premium liquor in India. The two countries have been negotiating a free trade agreement (FTA) since January 2021 and senior officials of both sides concluded the 11th round of negotiations. Currently, Scotch whiskey, imported from the UK - both in bottled and bulk - is taxed at around 150 per cent in India, however, if the pact between the two governments is signed, then it would provide liberalisation in tariff and will be a 'win-win' for both India and the UK, he added. Our expectation is a fair level playing field between India and the UK. When we export scotch whisky to India, we pay a very high tax of over 150

First year of FTA with UAE: India's fuel exports grow faster than non-fuel

The trade deal is expected to benefit almost 90 per cent of India's exports, in terms of value

India-UK FTA: Goyal, Badenoch discuss thorny issues in negotiations

India and the UK began negotiations on the FTA in January 2022, and set a Diwali deadline last year for the trade pact

Piyush Goyal visit shows political will to make FTA progress: UK official

The visit of Union Minister of Commerce and Industry Piyush Goyal, who starts a two-day visit in London from Monday in the midst of ongoing free trade agreement (FTA) negotiations, shows political will to make progress towards an ambitious trade deal, a UK government source said. Goyal will hold talks with his UK counterpart, Business and Trade Secretary Kemi Badenoch, during which the two ministers are expected to discuss ways to progress the India-UK FTA following the start of round 11 in London last Wednesday. The latest round is expected to conclude on Friday. The ministerial meeting marks Goyal's first in-person meeting with Badenoch in London, having last met for talks in New Delhi in December last year during round six of the FTA negotiations. Goyal's visit to the UK in the midst of a negotiation round shows there is political will to make progress towards an ambitious trade deal, a UK government source said. The potential is clear a strong trade deal will strengthen the ..

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Commerce Ministry to meet exporters over declining exports on Monday

The commerce ministry has called a meeting of exporters on Monday to take stock of the situation, as the country's outbound shipments have been contracting for the last four months, an official said. Exporters are expected to flag issues like extending greater support to participate in global exhibitions and fairs; expediting negotiations to conclude free trade agreements with the UK, Canada, Israel and GCC (Gulf Cooperation Council); and allowing industry double weighted deduction on salary to professionals to retain talent in India. Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to USD 34.98 billion in May, while the trade deficit widened to a five-month high of USD 22.12 billion, according to the ministry data. Cumulatively, exports during April-May this fiscal contracted by 11.41 per cent to USD 69.72 billion, while imports declined 10.24 per cent to USD 107 billion. Demand slowdown in major markets, high inflation in developed economies and the

India to start FTA talks with African Customs union in next 3-4 months

Deal to focus on wider market access for goods and services

India, UK conclude another round of talks on free trade agreement: Official

Technical discussions were held across 10 policy areas in over 50 separate sessions, according to statement

India can look for FTA talks with Africa to further strengthen ties: Goyal

India can also look for negotiating a free trade agreement with Africa to further strengthen economic ties, he said

India is open to negotiate trade agreement with Africa: Piyush Goyal

India has expressed interest in negotiating a free trade agreement (FTA) with Africa with an aim to boost economic ties between the two regions. This was stated by commerce and industry Minister Piyush Goyal during his interaction with fifteen ambassadors from several countries of the Africa region here on Thursday. "India is open to FTA negotiations bilaterally or individually with African countries or Africa as a whole," he said. India would act as a trusted partner to expand trade, commerce, business, investment and opportunities with Africa, he said. In such agreements, two or more trading partners either significantly reduce or eliminate customs duties on maximum number of goods traded between them. Besides, they ease norms for promoting trade in services and attract investments. The 15 ambassadors are from countries, including Algeria, Botswana, Egypt, Ghana, Republic of Guinea, Kenya, Malawi, Mozambique, Morocco, Rwanda, South Africa, Tanzania, Togo, Uganda and Zimbabwe. T

India, EFTA nations discuss prospects of resuming FTA negotiations

The development comes in the backdrop of a meeting between high-level delegations from India and EFTA to boost bilateral trade and economic partnership

UK minister Dominic Johnson begins India visit with focus on tech ties

UK's Minister for Investment Lord Dominic Johnson on Wednesday embarked on a visit to India to strengthen the bilateral investment partnership across technology and life sciences sectors and build momentum behind ongoing trade talks. After arriving in Bengaluru, Johnson is set to visit Pune to meet investors and leading Indian businesses, including Infosys and Zensar, to drum up investor interest in the UK, the Department for Business and Trade (DBT) said. The visit coincides with Round 9 of negotiations this week between officials working on the UK-India free trade agreement (FTA). "It is fantastic to be in India again visiting the vibrant cities of Pune and Bengaluru to find out how our strong cultural and economic ties mean investors and business leaders continue to choose the UK, said Johnson. He visited Mumbai and New Delhi in October last year when he met with investors and businesses including Apollo Hospitals, Prodapt and Wockhardt. From life sciences to AI [artificial ...

UK investment minister begins India visit with focus on tech ties

UK's Minister for Investment Lord Jo Johnson on Wednesday embarked on a visit to India to strengthen the bilateral investment partnership across technology and life sciences sectors and build momentum behind ongoing trade talks. After arriving in Bengaluru, Johnson is set to visit Pune to meet investors and leading Indian businesses, including Infosys and Zensar, to drum up investor interest in the UK, the Department for Business and Trade (DBT) said. The visit coincides with Round 9 of negotiations this week between officials working on the UK-India free trade agreement (FTA). "It is fantastic to be in India again visiting the vibrant cities of Pune and Bengaluru to find out how our strong cultural and economic ties mean investors and business leaders continue to choose the UK, said Johnson. He visited Mumbai and New Delhi in October last year when he met with investors and businesses including Apollo Hospitals, Prodapt and Wockhardt. From life sciences to AI [artificial ...

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May feel pressure on non-tariff barriers in FTA, says UK panel

As much as 60 per cent of Indian exports to the country are already tariff free, while only three per cent of UK exports to India are tariff free

As India and Russia discuss FTA, the elephant in the room is rupee trade

Finding alternative paths to buy oil from states under Western sanctions is stretching the government and RBI's creativity