Page 4 - Trade Agreements

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

Rare earth, tariffs and geopolitics: Centre walks tightrope on trade deal

Supply-chain disruptions related to rare earth magnets from China are another cause of geopolitical anxiety for the government at this point

US delegation in India to discuss trade pact: What will be on agenda?

A high-level US delegation visits New Delhi to advance bilateral trade negotiations, focusing on tariff reductions, market access, and resolving disputes ahead of July 9 deadline

Would be delighted for India to produce a wide range of products: Lutnick

While the US is concerned about India's high tariffs, Commerce Secretary Howard Lutnick said the two countries could find common ground in a new trade agreement

India-EU free trade pact could be concluded before year end: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Sunday said that negotiations for the proposed comprehensive free trade agreement (FTA) between India and the European Union (EU) are progressing at a rapid pace and the deal could be concluded before the year end. He also said that India will raise its concerns over certain EU's regulations such as carbon tax and deforestation rules in the trade talks. "We have certain concerns about EU practices and regulations, likewise they have certain areas which they would like to discuss. All issues are on the table and we will negotiate a fair, balanced and equitable FTA," Goyal told reporters here. He added that all of these issues will come up for discussions, so that both sides can come up with a robust agreement that will support market access and promote easier trade. The minister is here for a two-day visit. He will meet French leaders and business representatives to promote trade and investments between the two countries. When asked ab

Well on track in our bilateral trade agreement talks with US: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said negotiations with the US for a bilateral trade agreement are well on track. The negotiations for the trade agreement with the European Union (EU) are also progressing at a faster pace, he added. "We are well on track in our bilateral trade agreement with the US and making fast progress with EU," Goyal said at the CIIs annual general meeting event here. A US official team is visiting India next week for trade talks with India.

Pursue trade deals, but focus equally on enhancing industry competitiveness

India retaliated against some ill-considered statements and actions by the Bangladesh government by closing its land borders for import of some goods from that country

Trading with India will be 'quicker, cheaper, easier' post-FTA, says UK

It will be quicker, cheaper and easier for British companies to trade with India as a result of the bilateral Free Trade Agreement (FTA) struck earlier this month, the UK government said on Wednesday. Business and Trade Secretary Jonathan Reynolds described the FTA as the best deal India has ever agreed to as he convened a revamped advisory board for its first meeting, tasked with boosting exports to grow the UK economy. The Board of Trade, made up of UK business experts, is charged with delivering targeted support for small businesses across the country and helping firms utilise the exporting opportunities from the UK's recent FTAs with the India pact followed by a US deal. Today marks the beginning of a new chapter for British trade. This Board isn't just a talking shop it's a hands-on, dynamic force that will help businesses of every size access global markets and seize the opportunities created by our landmark trade deals, said Reynolds, who concluded the UK-India FTA ...

India, EU looking for early harvest trade pact by July: Govt official

Negotiations for a proposed trade pact between India and the 27-nation European Union are progressing at a faster pace and both the sides are looking at concluding the talks for an early harvest trade agreement by July this year, a government official said on Wednesday. The early harvest or an interim trade agreement would include issues such as intellectual property rights (IPRs), government procurement, tariff, and non-tariff barriers, the official said. An Indian official team from the commerce ministry is visiting Brussels this week for the next round of negotiations on the trade agreement with the European Union (EU). This visit comes in the backdrop of recently-concluded eleventh round of talks between chief negotiators of both the sides on May 16 here in the national capital. "We are looking for an early harvest. We are trying to do it as early as possible...targeting by July for early harvest," the official added. The two sides have agreed to conclude the agreement in two .

Why India must rethink its use of quality control orders in trade policy

QCOs should protect against irreversible harm, not shield big firms or suppress imports under the guise of standards, especially as India embraces global integration

Trade talks: India to push US to lift non-tariff curbs for goods exporters

The official said industry has raised regulatory hurdles and high cost of certification among other issues in the US as primary obstacles to increasing exports to the US

UK, EU seal post-Brexit 'reset' deal to boost trade, security ties

UK and EU strike a landmark deal to ease post-Brexit trade barriers, enhance security ties, and launch youth mobility plans amid changing global dynamics and reduced US engagement in Europe

India-US trade agreement talks to resume May 17 with ministerial oversight

India and US trade ministers will meet in Washington from May 17 to assess progress on the bilateral trade agreement, provide political direction, and advance talks toward a broader trade pact

India's retaliatory tariff proposal to feature in trade talks with US

India to discuss proposed retaliatory tariffs on US goods during trade talks starting May 17, amid efforts to finalise a broader bilateral trade agreement targeting $500 billion by 2030

India must ensure balanced, reciprocal terms in US trade deal: GTRI

India should take cues from the US-UK trade pact and exercise caution while negotiating an agreement with America to ensure that the deal is reciprocal, balanced, and not driven solely by political considerations, economic think tank GTRI said on Saturday. The limited trade deal announced between the US and UK on May 8 offers clues about the kind of trade arrangements Washington may pursue with other major partners, most notably India, the Global Trade Research Initiative (GTRI) said. A closer look reveals that while the UK has made sweeping tariff concessions to America, the US has offered far less in return, it added. "If the UK-US deal sets the template, India can expect growing US pressure to finalise a mini-deal of its own - focused on tariff cuts and key strategic commitments rather than a full free trade agreement (FTA) that may come much later," the think tank said. It also cautioned that India may be asked to reduce tariffs on a basket of sensitive agricultural products, .

Indian team to visit Washington to advance trade agreement with US

India and the US will hold further talks this month in Washington to finalise an early tranche of the bilateral trade agreement, aiming for mutual tariff concessions

Explained: India-UK free trade agreement: What’s in it for Indians?

India and the United Kingdom have finally signed the long-awaited Free Trade Agreement, a deal that took over three years and dozens of negotiation rounds. But how does it impact you, as an Indian?