Page 3 - Free Trade Agreements

What is a free trade agreement?

Australia recently said that the free trade agreement with India has been tabled in its parliament, and is likely to be passed soon. But what is a free trade agreement? Watch this report to know more

India looking at greater market access for pharma products in UK under FTA

India is looking at greater market access for its pharmaceutical products in the UK as part of the proposed free trade agreement with Britain, an official said on Friday. The official also said that a leaked chapter of the agreement, which is floated on some portals, on intellectual property (IP) is edited, distorted, and is a manipulated version of an initial document of the UK. "The best part in the proposed agreement is that both sides have highlighted their red lines and sensitivities. Ever-greening and touching manufacturing of generic medicines is completely non-negotiable," the official added. India has already secured greater market access for the domestic pharma industry in a trade pact with the UAE. Under the pact, Indian pharmaceutical products and medical goods will get regulatory approval within 90 days that have been approved in developed jurisdictions such as the US, the UK, the EU, Canada, and Australia. Similarly, the India-Australia trade deal would provide ...

India, UK working sincerely for finalisation of free trade agreement: MEA

India on Thursday said it is working "sincerely" with the UK for finalisation of the proposed free trade agreement, days after Prime Minister Narendra Modi and his British counterpart Rishi Sunak agreed on the "early conclusion" of the deal. "Both sides are working sincerely on the free trade agreement," External Affairs Ministry Spokesperson Arindam Bagchi said. His comments came when asked about the FTA during a media briefing. "As we have said earlier, the matter of negotiations is best left to the trade ministers and their teams of officials. I cannot comment on the status. I certainly do not have any target date," Bagchi said. The issue of the FTA figured in the first telephonic conversation between the two prime ministers on October 27. In a tweet on his talks with Sunak, Modi said: "Congratulated him on assuming charge as UK PM. We will work together to further strengthen our Comprehensive Strategic Partnership. We also agreed on the importance of early conclusion of a ...

Expanding India's global stamp: FTAs are the way to go if gaps are plugged

The complexities of rule of origins may end up distorting trade instead of fostering it

Working towards best FTA with 'economic superpower' India: UK's Greg Hands

Describing India as an "economic superpower", Britain said on Wednesday that it was working towards the "best" Free Trade Agreement (FTA) that is beneficial to both the countries. India and Britain launched negotiations for the FTA in January with an aim to conclude talks by Diwali but the deadline was missed due to a lack of consensus on issues. "We have already closed the majority of Chapters and look forward to the next round of talks shortly," Secretary of State for International Trade Greg Hands said while replying to a question from Nick Thomas-Symonds, Shadow international trade secretary. A "strong FTA can strengthen the economic links between UK and India, boosting the UK economy by more than 3 billion pounds by 2035, helping families and communities," he said. He said that the FTA can cut red tapes, make it cheaper for UK companies to sell into India's dynamic market , helping drive growth and support jobs across every nation and region. Greater access could help UK ...

Hopes for India-UK FTA talks impetus with new Prime Minister Rishi Sunak

As Rishi Sunak takes over as Britain's first Indian-origin Prime Minister on Tuesday, there is renewed hope that the India-UK free trade agreement (FTA) will get a much-needed impetus after the Diwali deadline for draft completion was missed amid political turmoil in the UK. While the October timeline was set by former prime minister Boris Johnson during his India visit in April, Sunak is on the record expressing his commitment to an FTA with India while Chancellor of the Exchequer at No. 11 Downing Street. He has flagged financial services as a particularly exciting aspect of the bilateral trade relationship and pointed to enormous opportunity for both countries in fintech and the insurance sector. I'm very supportive of India playing an increasingly influential role in the region, and indeed, in the world as a massive economy and the world's largest democracy and an FTA would prove a greater champion of that cause, Sunak told reporters back in July. Financial service is an area ..

We will have to wait and watch political developments in UK: Piyush Goyal

India's talks with the UK on the proposed free trade agreement is well on track, but New Delhi will have to "wait and watch" the ongoing political developments in Britain, commerce and industry minister Piyush Goyal said on Thursday. Embattled British Prime Minister Liz Truss has resigned as the Conservative Party leader saying she can no longer deliver the mandate she was elected on last month, ending her humiliating tenure at 10 Downing Street on her 45th day in the job following an open revolt against her chaotic leadership. The 47-year-old outgoing prime minister will stay in charge until her successor is elected by the governing Tory party, with a speeded-up leadership election to be completed by next week. "We will have to wait and see...what happens, whether they have a quick change of the leadership, whether it goes to the whole process...So let us see who comes into the government and what their views are. It's only after that we will be able to formulate a strategy vis a v

UK FTA deadline depends on talks: Commerce secretary Sunil Barthwal

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

UK's third female PM Liz Truss leaves office without India trade deal prize

Britain's third female Prime Minister, Liz Truss, is out of office on Thursday after one of the shortest tenures at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize. Truss, who until Wednesday insisted in Parliament that she was a "fighter and not a quitter", resigned after just six weeks after her position became untenable after a series of policy U-turns, Cabinet upheavals and an open revolt against her ability to lead a deeply divided Conservative Party. Truss, who in her innings as foreign and trade minister batted for stronger bilateral ties with India, took charge at 10 Downing Street last month after defeating Indian-origin ex-chancellor Rishi Sunak in the Conservative Party leadership race. The 47-year-old was faced with one of the toughest in-trays in the top job as a result of the spiralling cost-of-living crisis in the country, which rivalled any of the issues faced by her women predecessors in office

India trade deal matters more than date, says UK trade minister

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

India-UK FTA: India unlikely to commit on labour, environment issues

Trade experts said that it will be interesting to see if the UK will be willing to sign the trade deal, without India giving any commitments on the new-age trade issues

Wait for India-UK free trade agreement likely to extend until mid-2023

One of the officials said that the trade deal between India and the UK is at the last stage

UK home secy and her remarks on Indian migrants: Who is Suella Braverman?

Braverman's remarks on Indians overstaying in the UK have reportedly annoyed the officials in New Delhi and the India-UK FTA is on a verge of collapse

Vietnam giving India a run for its money in the China Plus-One game

The smaller nation is scoring high in attracting global corporations and their suppliers

India won't yield on national interest to meet FTA deadlines: Piyush Goyal

Comments come a day after UK home secretary cast doubts over the proposed FTA with India over the issue of migration, and branded Indians as the largest group who overstay their visas

Govt considering forming units to build expertise in Free Trade Agreements

The objective of building dedicated units in the FTA areas is to enable India to negotiate deals with other nations at the World Trade Organization from a position of strength

CBIC floats new norms to curb undervaluation of goods by importers

Nove comes after customs dept observed several consignments from South-East Asia in which rules of origin were flouted, and the FTA route was being used to evade duties

India-UK free-trade agreement: Carmakers object to sharp import duty cut

India's auto industry push for a phased duty reduction to protect interests

What should India's FTA agenda be?

No country is better placed than India to take advantage of the China+1 strategy. But first industry must believe in itself, then trade can drive the future

India, UK working to meet Diwali deadline for completing FTA: Piyush Goyal

Union Commerce Minister Piyush Goyal on Tuesday said the UK is keen to stick to the Diwali deadline for India-UK free trade agreement and both countries are working towards it