Page 8 - Fta

UK minister Dominic Johnson begins India visit with focus on tech ties

UK's Minister for Investment Lord Dominic Johnson on Wednesday embarked on a visit to India to strengthen the bilateral investment partnership across technology and life sciences sectors and build momentum behind ongoing trade talks. After arriving in Bengaluru, Johnson is set to visit Pune to meet investors and leading Indian businesses, including Infosys and Zensar, to drum up investor interest in the UK, the Department for Business and Trade (DBT) said. The visit coincides with Round 9 of negotiations this week between officials working on the UK-India free trade agreement (FTA). "It is fantastic to be in India again visiting the vibrant cities of Pune and Bengaluru to find out how our strong cultural and economic ties mean investors and business leaders continue to choose the UK, said Johnson. He visited Mumbai and New Delhi in October last year when he met with investors and businesses including Apollo Hospitals, Prodapt and Wockhardt. From life sciences to AI [artificial ...

UK investment minister begins India visit with focus on tech ties

UK's Minister for Investment Lord Jo Johnson on Wednesday embarked on a visit to India to strengthen the bilateral investment partnership across technology and life sciences sectors and build momentum behind ongoing trade talks. After arriving in Bengaluru, Johnson is set to visit Pune to meet investors and leading Indian businesses, including Infosys and Zensar, to drum up investor interest in the UK, the Department for Business and Trade (DBT) said. The visit coincides with Round 9 of negotiations this week between officials working on the UK-India free trade agreement (FTA). "It is fantastic to be in India again visiting the vibrant cities of Pune and Bengaluru to find out how our strong cultural and economic ties mean investors and business leaders continue to choose the UK, said Johnson. He visited Mumbai and New Delhi in October last year when he met with investors and businesses including Apollo Hospitals, Prodapt and Wockhardt. From life sciences to AI [artificial ...

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May feel pressure on non-tariff barriers in FTA, says UK panel

As much as 60 per cent of Indian exports to the country are already tariff free, while only three per cent of UK exports to India are tariff free

As India and Russia discuss FTA, the elephant in the room is rupee trade

Finding alternative paths to buy oil from states under Western sanctions is stretching the government and RBI's creativity

FTA between Israel, India to be discussed today, informs Israeli Minister

Talking about the sectors that will figure in their discussions, the minister said the talks will be on wide-ranging sectors to enable more and more trade and "free trade brings people together"

India, Russia talk free trade agreement in a bid to strengthen ties

Jaishankar said Indian business could benefit from Russian technology and that New Delhi was working to iron out payments, certification and logistics issues

India to protect interests of farmers, dairy sector in FTA with EU: Goyal

India will completely protect the interests of farmers and dairy sector in the proposed free trade agreement (FTA) with the European Union, commerce and industry minister Piyush Goyal has said. He was here on an official visit to hold discussions with leaders and the private sector on ways to further enhance trade and investment ties between the countries. The minister also went to Paris for the India-France business summit. Goyal said that Italy and France have offered unstinted support for the early conclusion of negotiations for the India-EU trade agreement. During the meetings in Italy and France, he said, India has emphasised about the different economic conditions and per capita income in the two regions. But the kind of business opportunities which India provides for EU businesses are huge and "nobody can provide those in the world", he added. "Keeping all this in mind, we would do the FTA... We will protect the interests of farmers and dairy sector... We have done that wit

Next round of India-UK free trade agreement talks from April 24

Both sides now continue to thrash out the thorny issues pertaining to the trade pact

The dynamism of services exports

Funding research in a set of autonomous or private knowledge organisations will help

Will sign pact on chips on Friday, says US commerce secy Gina Raimondo

US commerce secy says FTA off the table, IPEF to be more economically beneficial

IPEF will prove to be economically impactful than FTA: US commerce secy

US Commerce Secretary Gina Raimondo on Thursday expressed hope that the Indo-Pacific Economic Framework (IPEF) will prove to be more economically impactful than a free trade agreement (FTA) with India. The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade. The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has opted out of the trade pillar and has decided to join the remaining three subjects pertaining to supply chains, clean economy and fair economy. Raimondo said that a trade agreement with India is at present not on the table and the US Congress has stated that there is no appetite for an FTA. "My hope is that the IPEF...my strong belief is that it will prove to be in many ways more economically impactful t

India-UK free trade talks covered 11 policy areas in seventh round

The seventh round of India-UK free trade agreement (FTA) talks concluded following technical discussions across 11 policy areas over 43 separate sessions between negotiators from both sides here last month, the British government has said. In an outcome statement released on Monday, the Department for Business and Trade did not give any further details on the policy areas covered, but confirmed that the eighth round of talks is due to take place in a few weeks' time. On 10 February 2023, the United Kingdom and the Republic of India concluded the seventh round of talks for an India-UK FTA, the outcome statement reads. Technical discussions were held across 11 policy areas over 43 separate sessions. They included detailed draft treaty text discussions in these policy areas. The eighth round of negotiations is due to take place later this Spring, it said. As with previous rounds, last month's session was also conducted in a hybrid fashion, with a number of Indian officials travelling

British Scotch companies seek safeguard against excise duty hikes

The organisation fears any import tariff liberalisation could be offset by increases in state-level taxes

India expects Free Trade Agreement with EU to be 'game-changer': Jaishankar

India expects its proposed free trade agreement with the European Union to be a "game-changer" and is looking forward to a mutually advantageous conclusion to the negotiation process for the pact within a "short planned timeline", External Affairs Minister S Jaishankar said on Tuesday. In an address at an event at the Confederation of Indian Industry (CII), Jaishankar also said that Europe and India can strengthen each other's strategic autonomy by reducing dependencies, cooperating on critical technologies and ensuring supply-chain restructuring. "We expect the India-EU FTA will be a game-changer for the India-EU relationship. We look forward to a mutually beneficial, mutually advantageous conclusion to the negotiation process within a reasonably short planned timeline," he said. In June last year, India and the European Union restarted the negotiations for the long-pending trade and investment agreement after a gap of over eight years. Launched in June 2007, the negotiations for t

November launch missed, India-GCC trade talks likely to resume in March

Both sides were expected to launch trade negotiations in November last year

Free trade agreement with EU may take longer to conclude, says Piyush Goyal

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 .

Trade in local currency: India may ink pacts with UAE, Nigeria, Malaysia

The move is aimed at reducing transaction costs for exporters and importers, a source said

BVR Subrahmanyam new NITI CEO, Param Iyer to join World Bank as ED

Subrahmanyam retired as the commerce secretary on September 30

India-UK FTA talks progress encouraging, says British industry expert

At the conclusion of the seventh round of India-UK free trade agreement (FTA) negotiations and ahead of the eighth round scheduled in New Delhi next month, a senior industry expert in the UK believes there are encouraging signs of appetite on both sides to agree a deal and fully utilise its benefits. Syma Cullasy-Aldridge is the Chief Campaigns Director at the Confederation of British Industry (CBI) and has just returned after leading the group's first-ever business delegation to New Delhi and Mumbai aimed at unlocking opportunities of a potential FTA. The Indian-origin campaigns chief for the industry body, which speaks on behalf of 190,000 UK businesses of all sizes and sectors, described the visit as really, really brilliant in highlighting the immense scope for partnership and collaboration across key sectors. What really struck me was the opportunity and appetite on both sides for collaboration and partnership around key sectors like green finance, innovation and new technology