Page 2 - Trade Agreements

Piyush Goyal to visit US on Monday to push for early trade deal talks

Goyal's visit follows a positive meeting between trade negotiators in New Delhi last week as India and the US step up efforts to resolve tensions and conclude a trade agreement

India will emerge stronger amid US tariffs, says Goyal as trade talks go on

Commerce Minister Piyush Goyal said India is in negotiations with the US, EU and others for trade agreements, aiming to exceed last year's $825 bn exports despite tariff challenges

Narendra Modi, Marcos unveil strategic push in Indo-Pacific theatre

India and the Philippines signed nine agreements to deepen strategic ties, defence and maritime cooperation, and plan a bilateral preferential trade pact to boost economic ties

Datanomics: Market access vs mass survival in unequal India-US fields

The US move on tariff is seen as its pressure tactics on forcing New Delhi to sign a bilateral trade agreement (BTA) with Washington

UK cos can offer telecom services in India without local office under CETA

Companies from the UK will be able to offer services in sectors such as telecom, and construction in India without setting up a local presence, under the free trade agreement signed between the two countries. The British firms will be treated on par with Indian firms. The Comprehensive Economic and Trade Agreement (CETA) was signed on July 24 in London. It may take about a year for items implementation as the free trade pact needs approval from the British Parliament. "UK companies can now provide telecom, construction, and related services in India without establishing a local presence, enjoying full national treatment, meaning they will be treated on par with Indian firms," the commerce ministry said. Services is a key chapter in the agreement as both countries are strong in different kinds of services. India enjoys a trade surplus of around USD 6.6 billion with the UK. The country's services exports stood at USD 19.8 billion and imports at USD 13.2 billion. In the agreement, t

FTA with UK 'gold standard' for balanced agreements: Piyush Goyal

India has protected all sensitive sectors, including dairy, rice and sugar, in the free trade agreement with the UK, Commerce and Industry Minister Piyush Goyal said on Saturday. The pact will help boost exports of labour-intensive products like footwear, textiles and gems and jewellery, he added. "We have protected all the sensitive sectors of India...we have not opened for UK (those areas)....Zero compromise and extensive benefits makes it a phenomenal free trade agreement (FTA)," Goyal told reporters here. The agreement was signed on July 24 in London. He added that the agreement will open doors for India to the developed world.

India-UK FTA may restrict India's use of compulsory licensing: GTRI

India has accepted language in the intellectual property chapter of the free trade agreement with the UK that subtly curtails its ability to issue compulsory licences, a critical tool for accessing life-saving technologies during emergencies, think tank GTRI said on Thursday. It also said that India has agreed to "adequate remuneration" norms for compulsory licensing for the pharma sector in the agreement with the UK, thus risking delays in future access to affordable medicines and green tech. The Global Trade Research Initiative (GTRI) said that in "a significant concession, India has accepted language in the Intellectual Property (IP) chapter of the agreement that subtly curtails its ability to issue compulsory licenses (CL), a critical tool for accessing life-saving technologies during emergencies". "For the first time" in any trade agreement, India has explicitly agreed to wording that stresses the need for 'adequate remuneration' to patent holders, GTRI founder Ajay Srivastava

'Made in India' gets UK boost: Goyal hails 'red carpet' for local products

India-UK Free Trade Agreement boosts 'Made in India' exports. Piyush Goyal shares a state-wise list of products gaining UK access, highlighting regional gains and new global trade opportunities

India-UK FTA: Over 95% Indian farm exports to get duty-free market access

India's FTA with the UK boosts agri and food exports with 95% items duty-free, while protecting dairy, oils, and apples. Farmers, seafood, and processed goods sectors set to gain significantly

Aug 1 is hard tariff deadline, but US open to talks: Commerce Secy Lutnick

India-US trade talks continue with agriculture remaining a major sticking point for both nations as they try to reach an interim deal before the August 1 deadline

India-EFTA trade pact to come into force from Oct 1: Piyush Goyal

To generate $500 billion investment in India likely in brownfield or greenfield projects, and maybe in some cases, even mature assets

India should avoid rushing for trade agreement with US, say experts

India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. The US is currently negotiating with over 20 countries and seeking concessions from more than 90. "Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty," GTRI Founder Ajay Srivastava said. He added that both the EU and Mexico are major trade partners

India-US trade deal awaits Trump's nod ahead of July 9 tariff deadline

The first phase of the India-US trade pact is ready and awaits Trump's approval, with a possible signing before the July 9 deadline to avoid additional tariffs on Indian goods

India to pitch for preferential trade pact expansion with Mercosur nations

Mercosur is a Latin American trading bloc, with Argentina, Brazil, Uruguay, Paraguay as its members

India hardens stance on agri issues as US trade talks enter key phase

India has hardened its position on issues related to agriculture as negotiations with the US team in Washington have entered a crucial stage, an official said on Monday. The official also said that the stay of the Indian team, headed by special secretary in the department of commerce Rajesh Agrawal, is expected to be extended further. The team is in Washington for negotiations on an interim trade agreement with the US. Both sides are rushing to close a deal ahead of the July 9 deadline for the full implementation of a 26 per cent reciprocal tariff which has been suspended since April. "If the proposed trade talks fail, the 26 per cent tariffs will come into force again," the official added. The stay of the Indian officials has already been extended for three days until June 30. Initially, the delegation was scheduled to stay for two days with the talks having commenced on June 26. Another official said that the commerce ministry has informed domestic exporters and industry that th

'Very big' trade deal coming, maybe with India, says Donald Trump

The ongoing in-person round of talks between New Delhi and Washington is crucial, considering that the end of the 90-day pause on the US's plan to impose country-specific reciprocal tariffs on July 9

India, UK trade deal likely to be signed by July end, says official

The process of legal scrubbing of the India-UK free trade agreement (FTA) text is progressing at a faster pace, and the pact is expected to be signed by the end of July, an official said on Tuesday. To give an impetus to the process, Commerce Secretary Sunil Barthwal is in London with his official team. Barthwal will meet UK Secretary of State for Business and Trade Jonathan Reynolds and other British senior officials during his two-day visit. The two countries announced the conclusion of the negotiations on May 6. It will remove taxes on the export of labour-intensive products such as leather, footwear and clothing, while making imports of whisky and cars from Britain cheaper, in a bid to double trade between the two economies to USD 120 billion by 2030. The world's fifth and sixth-largest economies concluded the deal after three years of on-off negotiations. Once the FTA is signed, it will require approval from the British Parliament and India's Cabinet before it can take effect

India 'not desperate' to seal early tranche of trade deal with US

Prime minister Narendra Modi and President Trump in February had agreed to sign a mutually beneficial bilateral trade agreement (BTA)

US, UK say they've cemented trade agreement, Trump says 'fair' for both

US President Donald Trump and Prime Minister Keir Starmer said Monday that they are signing a trade deal that will slash tariffs on goods from both countries. The deal does not include tariffs on steel, an especially important piece of bilateral trade. Instead, talks are still going on about whether steel tariffs will be cut to zero as planned in the provisional agreement. Trump and Starmer announced in May they'd struck an agreement that would slash US import taxes on British cars, steel and aluminum in return for greater access to the British market for US products including beef and ethanol. But it did not immediately take effect, leaving British businesses uncertain about whether the UK could be exposed to any surprise hikes from Trump. British businesses, and the UK government, were blindsided earlier this month when Trump doubled metals tariffs on countries around the world to 50 per cent. He later clarified the level would remain at 25 per cent for the UK. Starmer said Mond

India aims to finalise early tranche of US trade pact before July 9

Absence of US Trade Promotion Authority may prolong broader BTA negotiations, but India hopes to secure early agreement on tariffs by July 9 deadline