Trade Deal

Govt aims to secure Russian crude oil term deal by next financial year

Falling crude prices, shrinking global demand growth, and Rosneft's focus on India, make the timing right

India readies various strategies to tackle 'US first' trade policy

The government is closely assessing Trump's election speeches and actions during his previous tenure, the official told Business Standard

UAE to address India's concerns over rise in silver, platinum alloy imports

In the case of silver, over the last few months, the commerce department tried to understand the reasons behind the surge in imports

India needs more trade, and being inside RCEP is better than staying out

While India's growth over the past decades has appeared impressive, the contribution of trade to that acceleration has been small and is decreasing

India-EFTA trade deal: Swiss Federal Council begins ratification process

Switzerland's federal cabinet has adopted the ambitious trade pact between India and the European Free Trade Association (EFTA) and placed it before Parliament as part of the ratification process. The ambitious trade pact, signed in March between India and the European bloc comprising Norway, Switzerland, Iceland and Liechtenstein, aims at expanding trade across a range of areas, including pharmaceuticals, manufacturing, new technologies and machinery. Under the mega trade deal, the four European countries are looking at making an investment of USD 100 billion in India over the next 15 years. Each of the signatory countries will have to ratify the pact for its roll out. On Wednesday, the Federal Council adopted a dispatch on the free-trade agreement between the EFTA states and India, the Swiss government said in a statement. The Federal Council, which is the Swiss federal cabinet, is the highest executive authority in the country. The Swiss Parliament is expected to debate the ..

New UK PM Starmer seeks to improve on 'botched' trade deal with EU

British Prime Minister Keir Starmer is seeking to reset relations at home and abroad. During a visit Sunday to Edinburgh, that he billed as an immediate reset with the regional governments of Scotland, Northern Ireland and Wales, Starmer said he would also seek to improve the UK's botched trade deal with the European Union. "I do think that we can get a much better deal than the botched deal that (former Prime Minister) Boris Johnson saddled the UK with, he said in reference to the pact negotiated after Brexit. Starmer said there were many discussions ahead to strengthen trading, research and defense ties with the EU. But he said those talks had begun as his top diplomat made his first visit abroad to Germany, Poland and Sweden. With two of Starmer's ministers in Europe ahead of a NATO meeting next week, the premier made a point of visiting the leaders of the regional governments in the UK following his party's landslide victory last week. Starmer, who said he has a mandate to do

Labour Party's electoral victory renews hope for India-UK trade deal

Keir Starmer became Britain's Prime Minister on Friday after his Labour Party's landslide electoral victory against Rishi Sunak-led Conservatives

India-Chile free-trade agreement talks may begin after Lok Sabha polls

A trade deal with Chile will give India greater access to Latin American region

India embraces trade deals as cos look beyond China for alternatives

Prime Minister Narendra Modi's government is taking advantage of India's growing appeal as the world's fastest-growing major economy and an alternative to China for global supply chains

'India is the world's emerging democratic superpower,' says Tony Abbott

'India is a wonderful place to do business. Today, India is a far more business-friendly place than it was a decade ago...' he said

India-Oman FTA may be reality soon; legal vetting of deal's text underway

India is keen to finalise the trade pact before the model code of conduct (MCC) kicks-in ahead of its general elections, making the timing of the finalisation of the proposed deal crucial

UK delegation meets top govt officials in final push for trade agreement

For India, the cut-off date is model code of conduct. Talks will stop once it sets in

Indo-Australia trade deal boosts engineering exports despite import surge

One year after the India-Australia Economic and Trade Cooperation Agreement (ETCA) came into effect, engineering exports to Australia reached USD 944 million in April-November 2023-24, a 3 per cent increase. However, imports from Australia also saw a significant 30 per cent upswing during the same period. India's engineering imports from Australia reached USD 355.02 million during April to October 2023-24. Despite the sharp surge in imports, EEPC India chairman Arun K Garodia remains optimistic, pointing to a positive engineering trade balance of USD 471 million between April and October 2023-24. This, he says, underscores the resilience and competitiveness of India's engineering sector. "While imports have increased more than exports in the short term of the new trade deal, we remain optimistic about the long-term benefits for the engineering sector. We expect a surge in exports to Australia, especially with their recent efforts to curb domestic industries and increased reliance on

UK stance on agri GI items remains hurdle in FTA talks with India

The UK's demand of a higher level of protection for its GI products from the agriculture sector under the proposed free trade agreement (FTA) with India remains an unresolved issue as the talks for the pact are on to iron out differences, an official said. British GI (Geographical Indication) products include Scotch whisky, Stilton cheese and Cheddar cheese. A GI is primarily an agricultural, natural or manufactured product (handicrafts and industrial goods) originating from a definite geographical territory. Typically, such a name conveys an assurance of quality and distinctiveness, which is essentially attributable to the place of its origin. Once a product gets this tag, any person or company cannot sell a similar item under that name. India normally provides general protection for violation of GI rules, but the UK is seeking a higher level of protection, the official, who did not wish to be named, said. "Negotiations are going on between the two countries. There are some issue

India, UK see free-trade deal possibly in December after poll results

There isn't any firm deadline but an announcement could be made after the vote concludes and results are out December 3

UK says it won't change immigration policy to secure India trade deal

There is growing optimism that a free trade deal between the countries could be concluded this year though the remaining topics to be discussed are some of the difficult

Want to strike truly ambitious trade deal with India: UK PM Rishi Sunak

British Prime Minister Rishi Sunak on Wednesday evening reiterated his commitment to a truly ambitious free trade agreement (FTA) with India as he hosted a special reception to celebrate India Global Forum's UK-India Week 2023 in the garden of 10 Downing Street here. The 43-year-old British Indian leader interacted with business leaders and celebrities, including boxing champion Mary Kom, musicians Shankar Mahadevan and Zakir Hussain, and Bollywood actor Sonam Kapoor, as part of what he dubbed as the start of an Indian summer for the UK. Prime Minister (Narendra) Modiji and I agree there's huge potential here. We're making great progress together on the 2030 roadmap and we want to strike a truly ambitious trade deal that benefits both our nations, bringing tremendous opportunities to businesses and consumers, both in India and here at home, said Sunak, who was joined at the garden party by wife Akshata Murty and mother-in-law Sudha Murty. It's not just UK-India Week, but a whole ...

PM Modi's Egypt visit: Expanding ties in trade, renewables, IT discussed

PM Modi meets Egypt's 'India Unit' focussed on forging closer relations with India

Jaishankar, Goyal, Chandrasekhar to co-chair first India-EU Trade-Tech meet

The first ministerial meeting of the India-EU Trade and Technology Council (TTC) will be held in Brussels on Tuesday, to be co-chaired on the Indian side by Minister of External Affairs S Jaishankar, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar. The TTC was launched by Prime Minister Narendra Modi and the President of the European Commission, Ursula von der Leyen, during her visit to India in April last year. It led to the creation of three Working Groups under the TTC: Working Group on Strategic Technologies, Digital Governance and Digital Connectivity; Working Group on Green and Clean Energy Technologies; and Working Group on Trade, Investment and Resilient Value Chains. Thank President of @European_Commission @vonderleyen for meeting the Indian ministerial team, Dr Jaishankar tweeted after arriving in Brussels on Monday evening. Appreciate the open discussion on trade, technology and geopolitics. Look forward to

Trade deal: India's carmakers back zero duty on limited British imports

India is one of the most protected automobile markets where import taxes are among the highest in the world of any major car making nation