Page 18 - Fta

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

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"

India, Russia talk free trade agreement in a bid to strengthen ties

Jaishankar said Indian business could benefit from Russian technology and that New Delhi was working to iron out payments, certification and logistics issues

India to protect interests of farmers, dairy sector in FTA with EU: Goyal

India will completely protect the interests of farmers and dairy sector in the proposed free trade agreement (FTA) with the European Union, commerce and industry minister Piyush Goyal has said. He was here on an official visit to hold discussions with leaders and the private sector on ways to further enhance trade and investment ties between the countries. The minister also went to Paris for the India-France business summit. Goyal said that Italy and France have offered unstinted support for the early conclusion of negotiations for the India-EU trade agreement. During the meetings in Italy and France, he said, India has emphasised about the different economic conditions and per capita income in the two regions. But the kind of business opportunities which India provides for EU businesses are huge and "nobody can provide those in the world", he added. "Keeping all this in mind, we would do the FTA... We will protect the interests of farmers and dairy sector... We have done that wit

Next round of India-UK free trade agreement talks from April 24

Both sides now continue to thrash out the thorny issues pertaining to the trade pact

The dynamism of services exports

Funding research in a set of autonomous or private knowledge organisations will help

Will sign pact on chips on Friday, says US commerce secy Gina Raimondo

US commerce secy says FTA off the table, IPEF to be more economically beneficial

IPEF will prove to be economically impactful than FTA: US commerce secy

US Commerce Secretary Gina Raimondo on Thursday expressed hope that the Indo-Pacific Economic Framework (IPEF) will prove to be more economically impactful than a free trade agreement (FTA) with India. The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade. The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has opted out of the trade pillar and has decided to join the remaining three subjects pertaining to supply chains, clean economy and fair economy. Raimondo said that a trade agreement with India is at present not on the table and the US Congress has stated that there is no appetite for an FTA. "My hope is that the IPEF...my strong belief is that it will prove to be in many ways more economically impactful t