Page 9 - Fta

India, EU exploring possibility to negotiate FTA in phases: Report

India and the European Union (EU) are exploring the option of negotiating their free trade agreement (FTA) in phases amidst an uncertain global trade environment following imposition of sweeping tariffs by the US, an official said. India has followed the practice of negotiating such trade pacts in two phases with Australia. Negotiating the FTA in two phases allows both sides to first conclude areas where agreement can be reached more easily. Complex issues can be dealt with at a later stage. "FTA in tranches are being explored with the EU," the official said. The two sides concluded the 10th round of negotiations in Brussels last month for the proposed agreement. The next round of talks is expected in May here. The official added that after the visit of European Commission President Ursula von der Leyen with the EU College of Commissioners or senior political leaders of the bloc here, the talks are moving in a positive direction and the momentum is also building. According to tra

Developed nations easing stance on non-trade issues in FTA talks: Report

Developed countries are indicating that they are ready to proceed with negotiations for proposed free trade agreements (FTAs) without insisting much on the inclusion of non-trade issues like sustainability and climate obligations, according to sources. They said gradually those countries are suggesting that "let's start business first, we will look into the rest of the extraneous issues later". In a free trade agreement negotiations, trading partners should keep all the options open so that things can move smoothly. Major countries that used to pressure on issues like sustainability and climate have now gone quiet, one of the sources said. India has always maintained issues like sustainability, labour, and the environment should be addressed in separate forums or international platforms rather than being integrated into trade agreements. The International Labour Organization (ILO) is there for for labour standards, and the United Nations Framework Convention on Climate Change (UNF

Customs rule changes may increase compliance costs for importers: GTRI

The amendments in the customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to do imports at concessional duties and may increase compliance cost, economic think tank GTRI said on Sunday. However, it said the move would curb the misuse of FTAs as India has seen repeated instances where goods originating from non-FTA countries, such as China, were rerouted through FTA member countries like Vietnam or Singapore to exploit preferential duty benefits. On March 18, the Ministry of Finance issued a notification, introducing amendments to the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR). The amendment replaces the term, "Certificate of Origin" (CoO), with a broader term, "Proof of Origin", across various rules and forms under the CAROTAR framework, the Global Trade Research Initiative (GTRI) said. "This change comes in conflict with the several existing FTAs with ASEAN etc where

In a short period, India could well be signing multiple FTAs: Sanjiv Puri

He said that with the developments in the world, it was more likely that in a very short period of time, India could sign multiple FTAs

Prioritise talks on core trade issues for faster FTA: Commerce secy

Long-drawn negotiations that take years often result in businesses losing interest in trade talks. However, focusing on core trade issues can help India navigate complex negotiations more efficiently

India, New Zealand aim to finalise comprehensive FTA within two months

Goyal said that there are hardly any areas where both countries compete. However, there are a few areas of sensitivity, but they can be navigated with mutual respect

US FTC dismisses Amazon trial delay, insists DOGE cuts won't derail case

FTC reverses claim of resource constraints, says Amazon trial will proceed as scheduled despite DOGE-driven budget cuts and staff reductions under the Trump administration

India accelerates efforts to finalise bilateral trade deal with US

New Delhi working on ways to reduce average applied tariff

Our govt works very closely with India to reduce trade barriers: Southwell

It's been successful for both countries, not just for Australian exports to India but also for Indian exports to Australia, John Southwell said

EU firms want removal of non-tariff barriers as part of FTA deal with India

The Survey provides an outlook and overview of evolving EU-India bilateral trade and investment ties as well as offers an insight into the opportunities and challenges faced by European businesses

Free trade agreement tariff concessions cost India Rs 94,172 crore in FY25

Customs revenue set to face greater strain as country pursues more trade pacts

Shift towards developed markets: India's FTA needle turns to the West

Indian industry always preferred to have deeper trade relations with traditional markets - EU and the US- as it offers industry greater complementarity

India and EU decide to conclude free trade agreement by end of 2025

Prime Minister Narendra Modi and European Commission president Ursula von der Leyen on Friday issued directions to conclude an ambitious free trade agreement by end of this year as the two leaders vowed to expand India-EU strategic partnership in areas of defence, security and critical technology. In his media statement after talks with Von der Leyen, Modi described India-EU strategic partnership as "natural and organic" and one that it is based on "trust" and shared belief in democratic values. We have directed our teams to conclude a mutually beneficial bilateral free trade pact by the end of this year, he said, in a hugely significant decision that came amid growing global concerns over the Trump administration's policy on trade and tariff. The prime minister said both sides are also looking at forward movement on negotiations for an investment protection pact as well as an agreement on Geographical Indications. On connectivity, Modi said concrete steps will be taken to take ...

EU signals no concession for India on CBAM, deforestation regulation

Calls some of India's concerns on carbon tax 'illegitimate'

UK secures 17 new export, investment deals during trade secy's India visit

The UK on Wednesday said its Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson announced 17 new export and investment deals during their visits to India this week. It also said that New Delhi's recent Union budget drives more opportunity for British insurance companies to expand their presence in India. British insurance companies in particular have gained more potential to expand in India following the recent Indian budget, which increased the amount of foreign direct investment (FDI) permitted in the insurance sector from 74 per cent to 100 per cent, a readout by the UK said. The UK has the third largest technology economy in the world, and a number of UK technology companies have also announced expansion into India, accelerating their growth journey, it noted. "The UK's Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson have announced 17 new export and investment deals during visits to India this week," it said. However, details

EU seeks stronger commitment from India on reducing 'high' import tariffs

The discussion on the FTA will signal the 'broader political commitment' from both leaders and set the stage for the 10 round of negotiation in Brussels during 10-14 March, after a six months hiatus

Alcohol body seeks import duty cut in phased manner under India-UK FTA

Alcoholic beverage industry body CIABC on Tuesday urged the government to consider reducing the import duty in a phased manner under the proposed free trade agreement between India and the UK. The Confederation of Indian Alcoholic Beverage Companies (CIABC) said that the government should ensure better market access for Indian products in the UK. On February 24, Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade Jonathan Reynolds announced resumption of negotiations for the proposed agreement. "The government needs to safeguard the interests of Indian liquor manufacturers while deciding on issues related to customs duty cuts and other concessions under FTAs. "Though we have already recommended to the government to cut cuts basic customs duty on spirits over a period of 10 years, we also want the government to ensure better international market access and safeguard interests of Indian companies against any dumping of products through transfe

India-UK trade talks begin: FTA, BIT, social-security pact on the table

India had requested the UK to consider a social-security agreement two years ago, but talks were launched only on Monday

UK, EU step up FTA talks with India in US President Donald Trump era

Piyush Goyal to meet UK, EU officials this week

India-Qatar potential FTA must be approached with caution, says GTRI

India should tread cautiously on a potential free trade agreement (FTA) with Qatar, particularly in the petrochemical sector as both countries are strong in this segment, economic think tank GTRI said on Wednesday. The Global Trade Research Initiative (GTRI) added that India should ensure that tariff concessions on petrochemicals and energy-related imports do not undermine domestic industries. According to a joint statement issued after the meeting of Prime Minister Narendra Modi and Amir of Qatar Sheikh Tamim bin Hamad Al-Thani, the two sides agreed to explore the possibility of entering into a bilateral comprehensive economic partnership agreement (CEPA) with an aim to double bilateral trade to USD 28 billion by 2030. Normally in a CEPA, a kind of free trade agreement (FTA), two trading partners either eliminate or significantly reduce customs duties on the maximum number of goods (90-95 per cent) traded between them. Besides, they ease norms to promote trade in services and boost