Page 2 - Free Trade Agreement

India-UK FTA:'Mustn't hurriedly wrap negotiations with artificial deadline'

UK India Business Council MD lists four "Ps" to explains why he is confident the deal will happen

India-GCC grouping expects to revive free trade agreement negotiations

Launch date of negotiation not divulged

Growth through trade

Progress on the Australian trade pact signals a momentum shift

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

India, Gulf council to launch free trade pact negotiations on Thursday

India and the Gulf Cooperation Council (GCC) will announce the launch of negotiations for a free trade agreement on Thursday, which aims at promoting two-way commerce and investments between the regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain. India's exports to the GCC member countries grew by 58.26 per cent to about USD 44 billion in 2021-22, as against USD 27.8 billion in 2020-21, according to data from the commerce ministry. The share of GCC members in India's total imports rose to 18 per cent in 2021-22, from 15.5 per cent in 2020-21. Bilateral trade has increased to USD 154.73 billion in 2021-22, from USD 87.4 billion in 2020-21. "GCC officials will be here for the announcement," the official said. India has already implemented a free trade pact with the UAE in May this year. This would be a kind of resumption of FTA talks as earlier two rounds of negotiations had been held in 2006 and

Top Headlines: Oz parliament okays FTA with India, RBI rate hike & more

The Australian Parliament on Monday ratified the Economic Cooperation and Trade Agreement (ECTA) with India, paving the way for implementing the deal as early as January 1, 2023

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Binding commitments on new issues in FTAs may hamper India's exports: Rpt

Taking binding commitments on new issues like environment, labour and sustainability in the proposed free trade agreements (FTA), being negotiated by India, may hamper the country's exports in the future, according to a report by Global Trade Research Initiative. India's already "weak" FTA outcomes may worsen if it takes obligations in the new issues, the report -- FTAs: Fabulous, Futile, or Flawed? An evaluation of India's FTAs with ASEAN, Japan and South Korea -- said. It added that like many developing countries, India has an evolving regulatory framework on most new issues. "International commitments must be taken only after the domestic regulatory framework is in place. And both must be in sync. New non-trade issues may serve as non-trade barriers and hamper our exports in the future," GTRI (Global Trade Research Initiative) report said. Developed regions like European Union and the UK are pushing to include these new issues in the proposed trade pact with India. Former India

PM Modi, Britain's Sunak agree on 'enduring importance' of UK-India ties

The UK on Wednesday unveiled a new scheme offering 3,000 places annually to 18 to 30 year-old degree-educated Indian nationals to come to Britain to live and work for up to two years following the first meeting between Prime Minister Narendra Modi and his British counterpart Rishi Sunak on the sidelines of the G-20 summit here. The British PM's office said the leaders agreed on the "enduring importance" of the UK-India relationship, and of the "living bridge" between our countries and that Sunak passed on his thanks to Modi for the "overwhelming" response of the Indian people to his appointment as the prime minister. Modi also held separate bilateral meetings with French President Emmanuel Macron, German Chancellor Olaf Scholz, Singapore Prime Minister Lee Hsien Loong, Italian Prime Minister Giorgia Meloni and Australian counterpart Anthony Albanese and the major focus of all the meetings was to boost defence and economic engagement. After his talks with Sunak, Modi said India ...

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

FTA with India to be expedited in next few months: British envoy

India and the United Kingdom are set up for the final ascent on signing a Free Trade Agreement (FTA) and expediting the pact in the next few months is one of the main aims of the two sides, British High Commissioner to India Alex Ellis said on Friday. He said the two sides have got through the majority of the negotiations, but there are tough issues like the security of investments of British companies where some in the past had found difficulty in regard to the now-scrapped retrospective tax, in an apparent reference to the long-drawn Vodafone case. On extradition to India of economic fugitives like Vijay Mallya and Nirav Modi, Ellis said it is no longer a government matter. The British Home Secretary had signed the extradition of businessman Mallya over three years ago and it is the issue that now lies with the court, he said. The wheels of justice turn slowly, but they do turn, he said at the India Today Conclave here Mallya, accused of cheating and fraud in India, has been ...

British PM Rishi Sunak committed to FTA with India, says Downing Street

Intensive negotiations continue towards a free trade agreement (FTA) between India and the UK and new British Prime Minister Rishi Sunak is committed to achieving a balanced deal, Downing Street said on Wednesday. Sunak, who took charge at 10 Downing Street last week, had a "very warm" introductory call with Prime Minister Narendra Modi during which both sides expressed their commitment towards an FTA. The UK Prime Minister's office also reiterated that the focus remains on a balanced trade deal that benefits both sides and therefore no timeframe is being specified after a proposed Diwali timeline had to be abandoned last month amid political turmoil in the UK. "Both sides are very committed to it, intensive negotiations are continuing led by the Department for International Trade (DIT)," a spokesperson told reporters at a Downing Street briefing. "The Prime Minister had a very warm, introductory call with Prime Minister Modi last week. In terms of the speed of it [FTA], we have be

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

Political stability may give impetus to India-UK trade pact talks: Experts

Rishi Sunak becoming the UK's prime minister is likely to give much-needed momentum to ongoing negotiations for the proposed free trade agreement between India and Britain, trade experts say. The countries have already missed the Diwali deadline for concluding the negotiations because of political developments in the UK. According to the experts, political stability in the UK now would help fast-track the negotiations for the pact, which would give a boost to the bilateral trade and investments between the countries. Sunak, 42, on Monday won the race to lead the Conservative Party and is now set to become Britain's first prime minister of Indian origin. It is a very positive news for India. The development will definitely help in giving much-needed momentum to the talks, Federation of Indian Export Organisations (FIEO) Vice Chairman Khalid Khan said. However, Biswajit Dhar, Professor in the Jawaharlal Nehru University, said the new UK prime minister would like to first focus on .

After a 9-year gap, India-EU free trade negotiations to see new dawn

As India-EU marks 60 years of bilateral relations the new free trade agreement negotiations can deliver what proved to be impossible 9 years ago, said European Parliament member Kathleen Van Brempt

No longer working to Diwali deadline for India trade pact: Kemi Badenoch

The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," External Affairs Ministry Spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA. A good conversation with UK Foreign Secretary James Cleverly. Reviewed various aspects of our bilateral relationship and committed to taking forward Roadmap 2030 ...

India, UK looking for mutually beneficial Free Trade Agreement: MEA

India on Friday said it is carrying out negotiations with the UK for the early finalisation of a free trade agreement that is beneficial to both the sides. In April, the two sides had set a Diwali deadline for concluding the FTA but the deal is set to be pushed back to November in view of differences over certain issues. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," External Affairs Ministry Spokesperson Arindam Bagchi said. "This is a trade negotiation...let this be dealt by trade negotiators," he said. Meanwhile, External Affairs Minister S Jaishankar held a telephonic conversation with British Foreign Secretary James Cleverly. "A good conversation with UK Foreign Secretary @JamesCleverly.Reviewed various aspects of our bilateral relationship and committed to taking forward Roadmap 2030 expeditiously. Look forward to an early in-perso

India-UK free trade agreement to miss Diwali deadline, says report

Previous sticking points have included a steep import duty on British whiskey for sale in India and India's demand for more visas for Indian students and businesses.

UK wants stronger trading relationship with India, says FM Cleverly

UK FM James Cleverly said Britain wanted to have an even stronger trading relationship with India after reports that remarks by a fellow minister about immigrants could put future deal in doubt

India-UK free trade deal stuck on free access to skilled workers

Any failure to conclude a trade accord with Britain will be a missed opportunity for India, a nation upon which many economies are pinning their hopes amid intensified geopolitical struggles