Trade Deals

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

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

Three others got permission earlier, but no deal so far

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

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

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

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

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 ...

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

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 ...

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

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

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

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.

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

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

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

The minister further stated that with tariff concessions offered to the UAE in gold will lower input costs boosting the exports to the UAE

India and Australia have been fair about understanding the sensitive sectors in respective nations