Page 8 - Trade Agreements

Trade agreements with Australia, UAE to help boost exports, says EPCs

Various export promotion councils (EPCs) on Wednesday lauded the trade agreements signed by India with the UAE and Australia, saying the pacts will help the country in boosting exports by granting preferential access to those markets for Indian products. Engineering Exports Promotion Council (EEPC) said that the country has benefited from preferential market access provided by the UAE on over 97 per cent of its tariff lines which account for 99 per cent of Indian exports to the region in value terms. Eastern regional chairman of EEPC, B D Agarwal, said at an interactive session here that this trend has emerged after signing of the IndiaUAE Comprehensive Economic Partnership Agreement (CEPA) which became effective from May one, 2022. The India-Australia Economic Cooperation and Trade Agreement (ECTA), which will come into force from December 29, is expected to create 10 lakh jobs, and raise Indian merchandise exports to Australia by USD 10 billion, he said. According to him, the ECT

India and UK look to fast-track free trade agreement negotiations

Sixth round of negotiations begins in New Delhi after a four-month hiatus

FTAs and their discontents: Do free trade agreements benefit India?

India's balance of trade has worsened with countries with which it has signed free trade agreements

India-GCC grouping expects to revive free trade agreement negotiations

Launch date of negotiation not divulged

Govt asks exporters to utilise and reap benefits of India-Australia FTA

There is a need to go beyond the usual buyer-seller meets and get more aggressive towards their ways to sell products in the Australian market, people aware of the matter told Business Standard

A stringent patent rule is latest hurdle for India-UK free trade agreement

The draft has also proposed to prohibit pre-grant oppositions, which means that India will not be able to stop challenges to weak/invalid patents until after they have been granted

Morocco, Saudi Arabia vow to strengthen bilateral trade cooperation

Morocco and Saudi Arabia have pledged to boost trade and economic cooperation at a bilateral economic forum held in Casablanca, the commercial hub city of Morocco

India, ASEAN endorse scope of review of trade pact: Commerce Ministry

Trade ministers of India and 10-nation bloc ASEAN have endorsed the scope of review of the trade pact to make the agreement more industry friendly, the commerce ministry said on Friday. The issue was discussed during the 19th ASEAN-India Economic Ministers' meeting in Siem Reap City, Cambodia. The review would make the agreement modern with contemporary trade facilitative practices, and streamlined customs and regulatory procedures. "The ministers endorsed the scope of the review of the ASEAN-India trade in goods agreement to make it more user-friendly, simple, and trade facilitative for businesses, as well as responsive to the current global and regional challenges including supply chain disruptions,' it said. The ministers also activated a joint committee to undertake the review of the agreement expeditiously. The Association of Southeast Asian Nations (ASEAN)-India trade in goods agreement was signed on August 13, 2009 and came into force on January 1, 2010. Ten ASEAN countrie

JSW Steel signs agreement with German group for carbon reduction projects

'New transformative approach' needed to produce green steel, says JSW Steel leader Sajjan Jindal

Hopeful of concluding two more trade deals by year-end, says Piyush Goyal

India has recently signed two trade agreements with the UAE and Australia and is hopeful of concluding the negotiations for two more such pacts by the end of this year, Commerce and Industry Minister Piyush Goyal has said. Negotiations for a free trade agreement (FTA) with the UK is expected to be concluded this month, while talks with Canada for a deal are progressing at a rapid pace. Goyal said two FTAs have already been finalised this year and he is hoping for the conclusion of at least two more by the end of this year. He was addressing an event hosted by the US-India Strategic Partnership Forum here. Under a free trade agreement, two trading partners reduce or eliminate customs duties on the maximum number of goods traded between them. Besides, they liberalise norms to enhance trade in services and boost investments. He also said both the governments of India and the US desire to strengthen economic relations and strategic partnership, adding that the strong bond with the peo

Best of BS Opinion: BJP's allure, the railway land policy and more

Here is the best of Business Standard's opinion pieces for Friday

Turkey and UAE pledge to boost cooperation, sign trade agreement

Turkey and the UAE pledged to boost their cooperation in a wide range of fields by increasing mutual investment opportunities

India urges Argentina to do away with export duty on sunflower oil

In return, New Delhi is offering import duty concession on edible oil

India-Aus trade pact to provide huge opportunities for students: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said trade pact between India and Australia would help expand the economies of both countries, thus providing huge opportunities for students

India-Aus trade pact will boost bilateral trade to $100 bn by 2030: Goyal

The Economic Cooperation and Trade Agreement signed by India, Australia is expected to boost bilateral trade between the countries to $100 bn by 2030 from the current $26-27 bn, Piyush Goyal said

India, Australia should look at $100 bn bilateral trade by 2030: Goyal

Commerce and Industry Minister Piyush Goyal has said that India and Australia should look at boosting the bilateral trade to USD 100 billion by 2030 from the current level of around USD 27.5 billion.

'Better late than never', says Piyush Goyal on India-Australia trade deal

Goyal underlined the importance of the India-Australia Economic Cooperation and Trade Agreement, saying even though the agreement was signed a bit late but its "better late than never."

India to sign trade agreement with Australia today for lower-duty regime

The agreement will be signed at a time when Australia is looking for a reliable trade partner at a time when it is facing export restrictions from China.

Centre extends foreign trade policy by another six months till Sept 30

The development comes amid disruptions in global trade due to month-long tension between Russia and Ukraine

Opening up procurement

UAE trade agreement took a welcome new direction