Page 4 - Trade Deals

India, Peru to hold trade talks on furthering investments from Oct 10: Govt

The next round of negotiations for a trade agreement between India and South American nation Peru will start from October 10, an official statement said on Monday. The agreement is aimed at promoting bilateral trade and investments between the two countries. With the pact, the two trading partners will significantly reduce or eliminate customs duties on maximum number of goods traded between them. "A special round of negotiations for the India - Peru trade agreement is scheduled to be held virtually on 10-11 October," the commerce ministry said. During the negotiations, the two sides will discuss different issues, including rules of origin, trade in goods, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures. "Discussions on services, movement of natural persons (professionals), trade remedies and investment chapter will be held later in the month based on mutual convenience of the negotiators," the statement said. Negotiation

India, Australia aim to conclude comprehensive trade deal by end of 2023

India and Australia on Wednesday inked a migration and mobility partnership pact to open up opportunities for students, academic researchers and business people and resolved to conclude a comprehensive trade deal by the end of year to significantly expand economic ties. The pact was signed after wide-ranging talks between Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese. In his media statement, Albanese said the aim is to conclude the comprehensive economic cooperation agreement (CECA) by the end of the year. "We reiterated our shared ambition for an early conclusion of the Australia-India comprehensive economic cooperation agreement later this year," he said in the presence of Modi. Last year, India and Australia finalised the Economic Cooperation Trade Agreement (ECTA) and it came into force in December last. The two sides are now working on the CECA. "Today, in my meeting with Prime Minister Albanese, we talked about taking India-Australia Comprehens

High-quality FTA with India a priority this year, says UK trade minister

Britain's trade minister in charge of negotiating a free trade agreement (FTA) with India says clinching a high-quality deal is among her top priorities for the year, while admitting the talks had hit a "bit of an impasse which she broke by flying to New Delhi last month. In a speech addressing business leaders at Lancaster House in London on Tuesday, UK Trade Secretary Kemi Badenoch insisted the FTA talks are now back on track. It comes after the Diwali 2022 deadline for the FTA set by former prime minister Boris Johnson was missed last October amid political turmoil in Britain. "Some of you will know I was a software engineer and a systems analyst before I became a politician. That means I'm a problem solver at heart, said Badenoch. "So when our Indian trade talks hit a bit of an impasse, I didn't pick up the phone, I got on a plane. That deal's not done yet, but it's back on track, she said. Badenoch was in New Delhi in early December to hold talks with her counterpart, Commerce

Top Headlines: India-UAE trade deal; crude import basket at 10-month low

The price of the Indian basket of crude oil has hit a 10-month low of $88.6 a barrel in November, government data showed

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Deal activity has spiked in India despite global issues: Goldman Sachs MDs

In a Q&A, Rajat Sood and Som Krishna say their company isn't absolutely return-focused, but is a relative value investor that is looking out for bogh buyouts and minority stakes

India, Australia discuss early closure of trade deal signed 7 months ago

Both nations to hold annual joint ministerial commission meeting early next year

China's billion-dollar cash-for-copper trade grinds to a halt, stocks dip

Traders from London to Lima would obsess over the flows in and out of Shanghai's huge bonded copper stockpile

UK FTA deadline depends on talks: Commerce secretary Sunil Barthwal

Deadline for agreement will depend on talks, he says as Diwali timeline goes by

FinMin seeks trade, industry suggestions on taxes for 2023-24 Budget

Kickstarting stakehoder consultation for 2023-24 Budget, the finance ministry has sought suggestions from industry and trade associations regarding direct and indirect taxes. Along with the suggestions, the industry has to submit justification for their demand which, if found with merit, could become part of the Union Budget for 2023-24 (April-March), to be tabled in Parliament on February 1, 2023. The deadline for sending suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes is November 5. "In the context of formulating the proposals for the Union Budget for 2023-24, the Ministry of Finance would like to be benefited by the suggestions and views of your association," the ministry said. It said that since the government is working to phase out tax incentives, deductions and exemptions while simultaneously rationalising direct tax rates, the industry should point out 'positive externalities' arising out of the ...

Still looking for free trade deal with India by Diwali, says Britain

New Delhi is also seeking to claw back half a billion pounds in payments made by Indian workers toward Britain's social security system as part of the deal

India-UK trade deal on verge of 'collapse' over visa comments: Report

The India-UK free trade agreement (FTA) is reportedly on the verge of collapse after the Indian government was angered by comments made by UK Home Secretary Suella Braverman questioning action over visa overstayers from the country, a UK media report claimed on Wednesday. The Times' newspaper quoted government sources to say that ministers in New Delhi were shocked and disappointed by the disrespectful remarks made by Braverman, who said she had concerns of an open borders offer to India as part of an FTA. The likelihood of meeting the Diwali deadline for the pact, set by former Prime Minister Boris Johnson, is now believed to be diminishing. There's still a lot of goodwill but if certain individuals are still embedded in the [UK] government it will paralyse the talks, the newspaper quoted a source as saying. Last week, Braverman, the Indian-origin Home Secretary said in an interview that she feared a trade deal with India would increase migration to the UK when Indians already ...

UK trade deal, geopolitical risks: Tasks cut out for commerce secretary

After the UK deal, the next in line will be a deal with Canada that both nations aim to finalise by December

Why using CPI for REER calculation has been self-destructive for India

Given its stage and uncompetitive infrastructure, India's approach has been largely naïve or self-destructive

WTO approves package of trade agreements, prompting cheers from delegates

At one stage, a series of demands from India appeared set to paralyse talks but accommodations were found, trade sources said

WTO members make final push for trade deals, with eyes on defiant India

WTO DG Ngozi Okonjo-Iweala told the more than 100 ministers present that time was running out and that they should "go the extra mile" to converge on the full range of issues

What is India-EU Trade and Technology Council?

India and the European Union agreed to establish a Trade and Technology Council early this week. What it is and what both sides will gain from it, watch this report to know more.

A vision for US-India economic partnership

Both countries must play the central role in developing the economic framework for a free and open Indo-Pacific

Resolve issues on liquor, or trade deals will be lopsided: CIABC's Giri

CIABC director-general Vinod Giri tells Indivjal Dhasmana on India-Australia agreement on wine, interim trade deal and issues on spirits

Early harvest deal with India likely by end-March, says Australia

The likely finalisation of the early harvest or 'phase-one' of the ambitious free trade agreement was confirmed by Australian High Commissioner to India Barry O'Farrell on Sunday