Page 5 - Trade Talks

CCI issues draft norms on combinations under amended competition law

Fair trade regulator CCI has issued draft rules pertaining to value of transactions for combinations under the new competition law. Earlier this year, various provisions of the Competition Act were amended. As per the draft norms issued by the Competition Commission of India (CCI), the value of transaction shall include "every valuable consideration, whether direct or indirect, immediate or deferred, cash or otherwise". These could also be in the form of covenant, undertaking, obligations or restrictions imposed on seller or any other person, other than acquirer, in the nature of non-competition or otherwise. It could also be for arrangements that are made as part of the transaction within two years from the date when the transaction is set to come into effect. These arrangements can cover a wide range of elements such as technology assistance, licensing of intellectual property rights, usage rights to any product, service or facility, supply of raw materials or finished goods, ..

Ahead of G20 Summit in New Delhi, Canada pauses trade talks with India

India's high commissioner to Canada confirmed that Trudeau's team initiated the pause, which was first reported Friday by the Canadian Press

India, UK to continue free trade agreement negotiations till Aug-end

Indian and UK officials will continue their negotiations till the month-end to iron out differences on the proposed free trade agreement (FTA), the commerce ministry said on Sunday. This meeting will be followed by a review at the higher level, it said. Following the G20 Trade and Investment Ministers Meeting (TIMM) at Jaipur, the progress of the negotiations was reviewed by Commerce and Industry Minister Piyush Goyal and UK's Secretary of State for Trade Kemi Badenoch on August 26. "Teams are going to continue negotiations till the end of August 2023 which will be followed by stock taking at the higher level, it said. While expressing satisfaction over the last 12 rounds of negotiations wherein several chapters have been finalized, both exuded confidence that the next round of talks to be similarly successful. "Both Chief Negotiators apprised the ministers about the current state of play, issues outstanding for resolution and their continuous joint efforts to iron out the same,"

Trade talks with UK progressing extremely well, says Piyush Goyal

The ongoing negotiations between India and the UK on a free trade agreement (FTA) are progressing "extremely well" and it is expected to conclude at an early date, Commerce and Industry Minister Piyush Goyal said on Thursday. He said both sides are confident that they will come out with a "very" balanced, equitable and fair agreement in the interest of businesses and people of both the countries. When asked about the UK's demand on import duty concessions on auto, whiskey and dairy products, he said India and the UK both are pressing hard for their requests and concerns. "There is hardly an issue on which we are not negotiating and I assure you that it will be a strong and hard outcome that will come out of all these negotiations... I believe we have to talk with sincerity, with speed but ensuring balance... and we are both committed to come up with a win-win solution for both countries. I hope it can happen at an early date," Goyal told reporters here. The UK team is here for the

India, Asean to intensify efforts to wrap up trade agreement review by 2025

India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA). It also endorsed the term of reference of the AITIGA Joint Committee, the Work Plan of the review negotiations and the negotiating structure. Both sides agreed to make the agreement more user-friendly, simple and trade facilitative for businesses to increase trade and support sustainable and inclusive growth. "To this end, the meeting encouraged the officials to intensify their efforts with the aim of achieving a substantial conclusion of the review in 2025," the statement said. The consultation was ..

From labour to IPR, non-trade issues may not be part of India-Canada deal

Early harvest agreement likely to be signed by year-end

Instant settlement of share transactions in the works: Sebi chief

Sebi is reviewing the framework of "trading plan" -- used by insiders to deal in the shares of their companies as required under the Prohibition of Insider Trading (PIT) Regulations

Commerce secretary Barthwal visiting UK for free-trade agreement talks

During the visit (July 17-18), the secretary will hold discussions with senior officials of the UK about the proposed trade agreement, which both the countries are negotiating

Resolution of disputes a hurdle in India-UK investment pact talks

UK wants exhaustion of local remedies clause tweaked; India stand non-negotiable

Top headlines: HDFC Bank to become top weight, FPI inflow hit 10-month high

Business Standard brings all the latest headlines at this hour

India, Australia may conclude talks for comprehensive trade deal by Dec

Both sides have already had three rounds of negotiations, during February-June. The fourth round is scheduled in July 2023

In race for market connectivity, UK-India ties offer point of difference

Their partnership can turbo charge the development of India's financial markets

India, UK struggling to make progress in free trade talks: Report

The two nations are unable to agree on concessions on duties levied by India on car and liquor imports, a government official with direct knowledge of the matter said

India-EU trade, technology council first meeting at Brussels on May 16

The first ministerial level meeting of India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday. Commerce and industry minister Piyush Goyal is one of the co-chairs along with external affairs minister S Jaishankar and Union minister of state for electronics and information technology Rajeev Chandrasekhar, the commerce ministry said in a statement. The EU side is co-chaired by Executive Vice Presidents (EVPs) Dombrovskis and Vestager. It said that three working groups under the mechanism will report on roadmaps for future cooperation between the two sides -- 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. "The first ministerial meet

India, EFTA member countries discuss resumption of talks for trade pact

India and the four-nation bloc EFTA on Wednesday discussed ways to resume negotiations for a free trade agreement with a view to strengthening economic ties between the two regions. The subject came up for discussion during a meeting of high-level representatives from India and the European Free Trade Association (EFTA) states (Iceland, Liechtenstein, Norway, and Switzerland) here. Both sides "discuss the prospects of resuming their negotiations towards a Trade and Economic Partnership Agreement (TEPA)," the commerce ministry said in a statement. Free trade agreements between the two regions are officially dubbed TEPA. Under such pacts, two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services and investments. The high-level delegations were composed of Commerce and Industry Minister Piyush Goyal; Jan Christian Vestre, Minister of Trade and Industry of Norway; Helene ..

Twitter partners with Israeli company, users can soon trade stocks, crypto

Twitter has partnered with Israel-based social trading company eToro, which will allow users to access stocks, cryptocurrencies and other financial assets

Bank of Ceylon, SBI, Indian Bank talk benefit of rupee trade in Colombo

Following the Russia-Ukraine war and the sanctions imposed by the West, India has been trying to promote rupee trade

Rupee gains 20 paise to 81.50 against US currency in morning trade

The rupee rose by 20 paise to 81.50 against the US currency in morning trade on Wednesday following a weak dollar in the global markets. Early losses in domestic stock markets and a rebound in oil prices, however, restricted the rupee's gains. At the interbank foreign exchange, the rupee opened higher at 81.62 and rose further to a high of 81.49 in morning trade. The rupee was trading at 81.50 to a dollar at 0950 hrs. The local currency had closed lower at 81.70 on Tuesday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04 per cent to 101.88. The Brent crude was trading 0.43 per cent lower at USD 86.48 per barrel while the oil for the Indian basket traded down 2.69 per cent at USD 79.98 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined by 268 points or 0.44 per cent to 60,709.93. The broader NSE Nifty declined by 90.25 points or 0.5 per cent to 18,028.05. Foreign Institutional Investors (FI

Pakistan's mobile phone imports decline 66% in 1st half of FY 2023

Pakistan's mobile phone imports declined by 66 per cent in the first half of the current fiscal year 2022-2023, compared to the same period of the last fiscal year, according to official figures

2023 to be tough on trade as global economies will slow down: GTRI to Govt

Announcement of measures like quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget