Page 2 - Fta

India-EU free trade talks enter final stage, says commerce secretary

The negotiations between India and the European Union on the proposed free trade agreement are progressing "very well" and have reached the last leg, a senior government official said on Wednesday. The two sides concluded their 14th round of negotiations in Brussels last week, but some Indian officials have stayed back to conclude talks on Rules of Origin (ROO), Commerce Secretary Rajesh Agrawal told reporters here. "We are in the last leg of negotiations. The last leg is the most arduous leg of negotiations because these are the toughest things that are decided at the end. Progress in the last round has been very positive," he said. The 'Rules of Origin' (ROO) provision prescribes minimal processing that should happen in the FTA (free trade agreement) country so that the final manufactured product may be called originating goods in that country. "That (ROO) is one area where a lot of work needs to be done. So we have left the team there. It was planned to have the negotiations for

India-EU trade talks: Commerce Secretary to visit Brussels this week

Commerce Secretary Rajesh Agrawal will visit Brussels this week to meet European Commission Director General for Trade Sabine Weyand to give impetus to the ongoing negotiations on the proposed free trade agreement, Union Minister Piyush Goyal said on Tuesday here. The Commerce and Industry Minister said "very" good discussions are going on between the EU and India in Brussels. India is hoping to work together in a spirit of understanding each other's sensitivities so that the two sides can conclude an equitable, fair and balanced free trade agreement, he added. The minister is here on a two-day official visit. He is leading a business delegation to discuss ways to boost trade and investment ties between India and Qatar. "Once this round gets over, Commerce Secretary, Rajesh Agrawal Ji, will be going to Brussels to meet his counterpart, DG Sabine Weyand by the end of this week. After that, we will be working out what are the next steps," Goyal said. When asked about the December ..

EU eyes bigger role in 'Make in India' as FTA talks set to begin on Oct 6

India and the EU will start the 14th round of FTA talks on October 6, aiming to boost trade, investment, jobs, and strengthen EU firms' role in 'Make in India'

India-EFTA agreement kicks in, Goyal says deal offers predictability

This is also India's first trade agreement with any European nation or bloc coming into effect

Govt must do more on FTAs to help exporters benefit from trade deals

Tariffs on many imports from the Efta nations will be eliminated, and the duties on Indian exports to those countries were not very high anyway

India-EFTA trade pact to take effect on Oct 1 with $100 bn investment plan

The free trade agreement between India and the four-nation European bloc EFTA will come into force from Wednesday under which New Delhi has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under the trade pact on these goods over 10 years. The bloc committed an investment of USD 100 billion -- USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years - which would facilitate the creation of one million direct jobs in India. This is a first-of-its-kind pledge agree

PM Starmer gets 'Living Bridge' honour for role in concluding India-UK FTA

British Prime Minister Keir Starmer has been awarded a 'Living Bridge' honour for his role in championing closer bilateral relations and clinching the India-UK Free Trade Agreement (FTA). Seema Malhotra, Britain's Indian-origin Minister for the Indo-Pacific in the Foreign, Commonwealth and Development Office (FCDO), accepted the honour on behalf of Starmer at a ceremony in the House of Lords complex in London on Monday evening. The annual Living Bridge Awards, organised by the UK-based strategic consultancy India Business Group (IBG), also recognised New Delhi-based GMR Group multinational conglomerate, British Indian businessman G P Hinduja, KPMG UK chair Bina Mehta, and the University of Southampton for their role in bringing India and the UK closer across sectors. This deal (FTA) will assist businesses to trade with India with confidence and security taking advantage of the huge opportunities offered by the complementary nature of the two economies and India's rapid growth, said

Denmark PM Frederiksen speaks to PM Modi; discusses trade, investment

Prime Minister Modi conveyed his best wishes for the success of Denmark's ongoing Presidency of the Council of the European Union and non-permanent membership of the United Nations Security Council

EU unlikely to impose 100% tariffs on India on Trump's request; here's why

The European Union treats tariffs and sanctions differently and considers imposing such tariffs as a risky move, and supports targeting specific entities with sanctions

Why is India in a rush to seal an FTA with the Russia-led Eurasian bloc?

The trade deal, when finalised, will help narrow high trade deficit with Russia by opening up new export markets in Armenia, Belarus, Kazakhstan, Kyrgyzstan, and will also push connectivity plans

Piyush Goyal may visit Qatar in October as FTA framework nears close

India and Qatar are likely to finalise the framework for a free trade agreement in early October, with commerce minister Piyush Goyal expected to travel to Doha soon

PM Modi, EU leadership pledge to conclude FTA negotiations by year-end

PM Modi held a joint phone call with EU leaders, pledging to conclude the FTA talks by year-end, discuss the 2026 India-EU Summit, and advance the India-Middle East-Europe Economic Corridor (IMEEC)

Aluminium extrusion industry body alleges 28 units shut, 5K jobs lost

ALEMAI claims closure of 28 aluminium extrusion units and the loss of 5,000 jobs in the last two years, blaming free trade agreements (FTAs) and rising import dependence for the industry's struggles

Qatar wants to negotiate trade pact with India, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said a proposed Free Trade Agreement (FTA) with Oman will be finalised soon, and Qatar also wants to negotiate a pact with India. He said that India has already signed such acts with a number of developed economies, including Australia, the UK, the UAE, Mauritius, and four-European nation bloc European Free Trade Association (EFTA). Besides, India is negotiating trade pacts with the European Union (EU), the US, New Zealand, Chile, and Peru. These agreements, he said, will open up new opportunities, markets, and investment possibilities. Negotiations with the EU are moving at a faster pace, Goyal said, adding Commerce Secretary Sunil Barthwal is visiting Brussels next week to take stock of the trade pact talks. The India-EU official team will meet for the 13th round of negotiations from September 8 here in the national capital. After that, European Commissioner for Trade Maros Sefcovic is likely to visit India next month to tak

India shifts focus to EU as US tariffs stall bilateral trade negotiations

With US tariffs squeezing exports and trade talks stalled, India banks on the UK FTA to push forward EU negotiations, covering autos, wines, procurement and digital trade

Stepping stone deal? UK pact could set template for India's future FTAs

Experts point out that the deal was possible only because both sides respected each other's sensitivities and regulatory autonomy

Tesco to set up distribution hub, create 15,000 jobs: K'taka Industries Min

UK-based retail giant Tesco plans to set up a new distribution centre in Karnataka, creating 15,000 additional jobs, Large and Medium Industries Minister M B Patil said on Wednesday. UK engineering major Rolls-Royce is also exploring fresh investments in the state, he said, adding that the government would expedite all necessary processes to facilitate the company's plans, his office said in a release. Patil made the announcement while addressing a reception hosted on Tuesday by the British Deputy High Commission to mark the signing of the IndiaUnited Kingdom Free Trade Agreement (FTA). The pact is projected to boost bilateral trade by about Euro 25 billion annually and help double trade volumes to nearly Euro 90 billion by 2030. The FTA would pave the way for duty-free access for 99 per cent of India's exports to the UK and 90 per cent of UK exports to India. This would mean more affordable products, greater market access for businesses, and a surge in commerce benefiting consumers

Mahindra plans to export EVs to UK with trade agreement in place

Mahindra & Mahindra plans to export its electric vehicles to the UK, leveraging improved trade opportunities following the finalisation of the India-UK free trade agreement, according to Group CEO and Managing Director Anish Shah. The Mumbai-based auto major is a leading player in the electric vehicle segment in the domestic market and expects EVs to comprise 30 per cent of its overall sales by 2030. In 2022, the company inaugurated Mahindra Advanced Design Europe (M.A.D.E) at Banbury, Oxfordshire, the UK. The facility serves as the conceptual hotbed for the company's portfolio of electric products. In an interaction with PTI Videos, Shah noted that India has the potential to emerge as the automobile manufacturing hub of the world. "We are looking forward to exporting our electric vehicles to the UK and to take a bigger share of the UK market and competing in the UK on the back of this FTA," Shah stated when asked to comment about the benefits for the Indian industry and the ...

India-UK FTA will grow Scotland whisky market by $1 bn: Glenmorangie chief

Caspar MacRae, CEO of The Glenmorangie Company, says the India-UK Free Trade Agreement will make whisky more affordable in India, helping the market grow by $1 billion

'Historic' FTA with Britain shows world's trust in India: PM Modi

Prime Minister Narendra Modi on Saturday described the recently concluded FTA between India and UK as 'historic,' and said the trade pact showed the world's trust in the country. As regards Operation Sindoor, he said weapons manufactured under the 'Make in India' initiative played a great role during the cross-border military offensive in destroying enemy targets and made enemies lose sleep. The PM inaugurated, laid foundation stones and dedicated projects worth Rs 4,900 crore here and underscored the NDA government's commitment towards Tamil Nadu's growth. In his address after inaugurating the projects, Modi said he was blessed to directly land in Tamil Nadu after completing his foreign tour during which the India-UK Free Trade Agreement was signed before his visit to the Maldives. The trade pact with Britain was 'historic.' "India and Britain signed a FTA. This shows the growing trust of the world and our self-confidence. We will make Viksit (developed) Bharat and Viksit Tamil N