Free Trade Agreement

"We aim to use technology in every sphere to serve the people of India in a big way. Today, we are showcasing our developmental model to the rest of the world," Goyal said

TMS Ep384: Essar group, free trade agreement, metal stocks, generative AI

How can Essar regain its lost glory? Has India benefitted from its FTAs? Is it time to bet on metal stocks as China reopens? What is generative artificial intelligence? All answers here

India and the UK have agreed to make further progress on the ongoing negotiations for a free trade agreement (FTA) and also to swiftly organise the next bilateral Economic and Financial Dialogue soon, the British government said on Saturday. At the conclusion of UK Chancellor Jeremy Hunt's India visit for the G20 Finance Ministers and Central Bank Governors meeting, held under India's 2023 Presidency, the UK's Treasury department said the finance minister held talks with Indian counterpart Nirmala Sitharaman with a focus on deepening bilateral economic and financial ties. At a meeting with Indian Finance Minister Nirmala Sitharaman, both sides agreed to make further progress on the UK-India Free Trade Agreement and deepen bilateral economic and financial ties, the Treasury department said in a statement. They agreed to make swift progress on setting up the next UK-India Economic and Financial Dialogue, it said. Hunt, on his first international visit as UK Chancellor, also met with

German Chancellor Olaf Scholz on Saturday underlined the importance of the proposed free trade agreement (FTA) between India and the European Union for boosting two-way trade and said he will personally get involved to see its early fruition. After holding wide-ranging talks with Prime Minister Narendra Modi, Scholz said the finalisation of the FTA and the investment protection pacts will contribute significantly to expand India-Germany trade as well. The German Chancellor said he and the Indian prime minister are committed to finalising the deal. "We want to further deepen trade relations between the European Union and India and this is why we speak strongly for the free trade agreement. It is an important topic and I will get personally involved to ensure that this does not drag on," he said. Scholz said over 1,800 German companies are operating in India and have provided thousands of jobs. "India has so much talent to offer and we want to benefit from that cooperation. We want

Union commerce minister Piyush Goyal on Friday said a free trade agreement with the European Union (EU) will take longer as negotiations with the 27-country bloc will be prolonged. Active negotiations for the FTAs (free trade agreements) are ongoing with two-three countries and the EU, Goyal said speaking at the Technotex event here organised by industry lobby Ficci. He said there will soon be some "good news", the pact with the EU may take longer. "EU will take a longer time, because there are 27 countries which have to come on the same page," the minister said. Last year, India signed FTAs with Australia and United Arab Emirates. Reports had suggested that the country is in talks with other countries including the United Kingdom, Israel and Canada. Goyal said the government is mulling to come out with a production linked incentive scheme for the finished goods sector, but did not elaborate on the same. He said the government has received applications for only Rs 250 crore for .

The Confederation of British Industry (CBI) has sent its first-ever business delegation to India on Monday aimed at unlocking opportunities from the Free Trade Agreement (FTA) being negotiated between London and New Delhi. The industry body, which speaks on behalf of 190,000 UK businesses of all sizes and sectors, began a three-day visit covering Mumbai and New Delhi with some of the biggest names from British and Indian industries including HSBC, ICICI Bank, fintech firm Tide and wine and spirits major Pernod Ricard. The CBI said the delegation will focus on key growth sectors where UK and Indian business can develop profitable partnerships, such as innovation and sustainability. The UK-India relationship is going from strength to strength, so it is fantastic that the CBI is sending its first-ever business delegation to India, said Greg Hands, UK Minister for Trade Policy at the Department for International Trade (DIT). India is on track to become the third largest economy with a

The free trade agreement (FTA) being negotiated between India and the UK has all the hallmarks of being a genuine global standard, British Foreign Secretary James Cleverly said on Wednesday. Addressing the annual India Global Forum (IGF) UK-India Parliamentary Lunch co-hosted by the Indian High Commission, the foreign minister highlighted the partnership between the two countries in the field of climate action and indicated plans to visit India in the coming months during its G20 Presidency. "On trade, we are well into the negotiations of what has all the hallmarks of being a genuine global standard bilateral trade relationship, because we have this wonderful bilateral relationship which I like to think of as unique," said Cleverly. "The similarities enable us to work so easily together, and the differences mean that we don't have that group think which so often hampers innovation India is really pushing at the front edge of green economic development and we are very, very keen to b

Goyal said sensitive issues will not be allowed to scuttle the FTA talks with UK and they will focus on what is acceptable to both countries

The India-UK free trade agreement (FTA) is expected to be clinched this year but it won't involve any boost of free movement visa offers for Indians, British trade minister in charge of the negotiations has said. Kemi Badenoch, who was in New Delhi last month to kick off the sixth round of FTA talks with Commerce and Industry Minister Piyush Goyal, said that former prime minister Boris Johnson's "deal by Diwali" deadline last year was not feasible and had to be changed. In an interview with The Times' recently, the UK Secretary of State for Trade also ruled out any major similarities between the FTA the UK had struck with Australia one of the first post-Brexit trade deals and that with India. "We left the EU (European Union) because we didn't believe in free movement, we didn't think it was working. This is not a deal that's negotiating some kind of free movement with India, Badenoch told the newspaper, with reference to more visa offers. The minister indicated a willingness to m

India gets preferential access to all products it exports to Australia

Continent's manufacturers say they can't compete with manufacturers from FTA countries; also seek elimination of non-tariff barriers, long-term EV policy

India-Bangladesh: Other issues that were discussed were the removal of non-tariff barriers and the re-opening of border haats

With a middle-to-high income population of about 85 million people - roughly three times Australia's total population - it's seen as a prime target for sectors from education, to wine and tourism

In recent months, senior Indian officials have insisted that their nation intends to integrate further with the global economy

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'An Indian living in London; but an Indian born and brought up in India: not a second generation Asian but a first generation immigrant - who's totally Indian but feels at home in both countries'

Trade between the two countries is expected to cross $45-50 bn in five years

British Prime Minister Rishi Sunak has reiterated the UK's commitment to a Free Trade Agreement (FTA) with India as part of the country's wider focus on enhancing ties with the Indo-Pacific region. Delivering a talk Monday night at the Lord Mayor of London's Banquet -- his first major foreign policy speech since taking charge at 10 Downing Street last month -- the British-Indian leader reflected upon his heritage and committed to promoting British values of "freedom and openness" around the world. He also pledged to "do things differently" when it came to China, which he said poses a "systemic challenge" to British values and interests. "Before I came into politics, I invested in businesses around the world. And the opportunity in the Indo-Pacific is compelling," said Sunak. "By 2050, the Indo-Pacific will deliver over half of global growth compared with just a quarter from Europe and North America combined. That's why we're joining the Trans-Pacific trade deal, the CPTPP, deliveri