Trade Deal

"With Canada, while they are also not much of a manufacturing base, we have to go into more details. With the UK, it's a manufacturing country on many products. So we have to do it very carefully"

The implementation of the interim trade pact, also known as Economic Cooperation and Trade Agreement (ECTA) has the potential to double the bilateral trade between the two countries to $50 billion

India will get duty-free access to more than 6,300 sectors, helping its companies in textiles, agricultural products, leather

India and the UAE which have inked a landmark trade deal have seen a "veritable transformation" in their ties which are now beginning to have a broader ripple impact, External Affairs Minister S Jaishankar said on Monday, emphasising that they want to use this relationship to shape the changing world. A defining decision of this transformation is the signing of the bilateral trade pact which led to such effective results and speaks volumes for the bilateral relationship, he said. "The fact that we were able to conclude the comprehensive economic cooperation agreement so quickly and has led to such effective results thereafter, speaks really volumes for the relationship. We're now moving into new areas," he said while delivering the keynote address at India Global Forum and panel discussion India-UAE: Partners for Global Impact. India and the UAE signed UAE-India Comprehensive Economic Partnership Agreement (CEPA) in February this year. "Today, our discussions are about space, ...

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

Prime Minister Narendra Modi will visit Australia next year for the Quad Leaders' meeting. And then he will return to India later in the year for the G20 Summit, a statement by the Australian PM said.

It has been anything but a smooth ride for the Rishi Sunak led UK government, with the latest official data released this week reflecting a shrinking economy and a looming two-year-long recession. The British Indian former finance minister, who took charge at 10 Downing Street last month with the promise to fix the fiscal errors of predecessor Liz Truss' disastrous mini-budget, has pledged to get a grip on the soaring inflation as a priority and warned of tough tax and spending decisions ahead. Economic experts agree on the massive scale of the challenge, even as they hold out the prospect of a free trade agreement (FTA) with India as a potential generator of much-needed economic growth. The economic crisis in the UK is caused by some new and some longstanding factors, explains Dr Anna Valero, Senior Policy Fellow at the London School of Economics (LSE) Centre for Economic Performance. High inflation, high interest rates and tightening fiscal policy occurs against the backdrop of .

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

The Diwali timeline for a draft FTA had been announced by former British Prime Minister Boris Johnson during his meeting with Prime Minister Narendra Modi in New Delhi in April

Home Secretary Suella Braverman has said the UK is eager to secure a trade deal with India to boost both economies and that Brexit has meant that Britain no longer has a Eurocentric mindset towards trade or visas. Addressing a Diwali event organised by UK-based India Global Forum (IGF) in London on Tuesday evening, the Indian-origin Cabinet minister spoke of being a proud member of the British Indian community and hailed the contribution made by the Indian diaspora to British life. In an apparent effort to override her recent controversial remarks about Indians forming the largest group of visa overstayers, the minister said the UK's villages, towns and cities have been profoundly enriched by immigration from India. Naturally, there is an economic imperative for our countries to work together, which is why we are so eager to secure a trade deal, said Braverman. But the boost to our economies is not the only virtue in making our friendship even stronger. We have a shared vision that

In June, the EU and India relaunched talks for a free trade agreement with the aim of completing them by the end of 2023

In a recent visit to India, UK Prime Minister Boris Johnson announced that the FTA was likely to be completed in October

Speaking on the plane on his way to India, Johnson signalled he was ready to be more accommodating on an issue that could have stalled the talks.

This is the first trade agreement with a developed economy after over 10 years

Reduction in tariffs on auto components can result in more manufacturing investment in India, and if the UK were to reduce tariffs on Indian textiles, it could be a win-win, says Kevin McCole

The proposed deal is likely to include lower tariff and greater market access for Indian exporters in areas such as textiles, pharmaceuticals, footwear and leather

With the Biden administration now insisting on resolving irritants first, rather than going for a mini deal, the focus on Trade Policy Forum has again emerged.

India and Australia on Thursday agreed to conclude the long-pending free trade agreement by the end of 2022 and an early harvest trade deal by as early as December

A new strategic economic pact is expected to increase bilateral trade in goods to $100 bn, services t $15 bn in 5 years

French and Australian officials said Monday that France's anger over a cancelled submarine contract will not derail negotiations on an Australia-European Union free trade deal. France withdrew its ambassadors to the United States and Australia after President Joe Biden revealed last week a new alliance including Australia and Britain that would deliver an Australian fleet of at least eight nuclear-powered submarines. The deal sunk a 90 billion Australian dollar ($66 billion) contract for French majority state-owned Naval Group to build 12 conventional diesel-electric submarines for Australia. The money would have been spent over 35 years. French Ambassador to Australia Jean-Pierre Thebault denied media reports that France was lobbying the European Union not to sign the trade deal with Australia that has been under negotiation since 2018. At this stage, negotiations do continue and there is a strong interest ... for Australia to have a free trade agreement with the EU, Thebault told