BUSINESS
India, EFTA trade deal likely to be operational by September
While, the trade and investment deal between India and EFTA nations was inked on March 10, 2024, it is yet to be implemented given lengthy ratification processes.
BUSINESS
India-UK FTA: India reserves the right to retaliate if UK introduces CBAM, say govt sources
CBAM won’t restrict market access to Indian industries. Besides, some mechanism of being taxed in India before the goods are exported to the UK could also be considered to avoid CBAM, a government official said.
BUSINESS
India-UK FTA: Text to be finalised by 3 months paving way for deal signing
However, given Britain's ratification process the deal may take over a year to become operational, officials said.
BUSINESS
Tariff cuts on UK’s whiskies may serve as template for the proposed India-EU FTA
The EU has been pushing India for greater access for their wines, which currently face a 150 percent tariff. Through the FTA with UK, India has agreed to halve duties on whiskies to 75 percent, which will be lowered to 40 percent in 10 years.
BUSINESS
India-UK FTA: Piyush Goyal may meet exporters on May 8 to share pact details
Exporters are likely to seek clarity on the tariff cuts offered by India, especially on automobiles and inclusion of electric vehicles
BUSINESS
Dairy, apples, cheese kept out of India-UK FTA
India's dairy sector remains protected from duty concessions in FTAs due to its sensitivity involving small farmers. Recent agreements with Switzerland, Norway, and Australia too excluded this sector.
BUSINESS
From Johnson to Starmer, India-UK agree on FTA after nearly 40 months of talks
Initially, both sides set a deadline of Diwali 2022, however due to contentious issues ranging from rules of origin, London’s demand for tariff concessions on electric vehicles, and norms about services, a trade deal wasn’t secured by then.
BUSINESS
FTA with UK to benefit Indian textiles, leather, toys, gems and jewellery
The FTA with UK is expected to boost exports of labour and technology intensive sectors such as textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery.
BUSINESS
India, UK successfully conclude 'ambitious and mutually beneficial' Free Trade Agreement
The UK began free trade talks with India in January 2022, viewing the deal as one of Brexit’s most valuable opportunities.
BUSINESS
India should lower tariffs for all major trading partners via FTAs, says Montek Singh Ahluwalia
“Our tariffs are indeed too high for our own good and I have long argued we should lower them quite independent of the recent US pressure,” the former Deputy Chairman of Planning Commission told Moneycontrol in an interview.
BUSINESS
US unlikely to budge as India lobbies for sectoral tariff exemptions on steel, aluminium
Requests to exempt India from the 25-percent tariff on US imports, specifically on steel and aluminium was likely raised when India’s Department of Commerce and the US Trade Representative’s Office held extensive discussions between April 23 and April 25 in Washington.
BUSINESS
Equal focus on tariff and non-tariff barriers in trade talks with EU: Piyush Goyal
European commissioner for trade and economic security Maros Sefcovic said India-EU trade talks are on the right track and that they are making a “solid headway” towards a balanced and mutually beneficial deal.
BUSINESS
India's trade deal with US may take at least 6 months, missing 90-day tariff pause window
While New Delhi has been agreeable to most of the US’s demands as part of the proposed BTA, America’s wish list on tariff cuts centres around India’s sensitive agriculture sector. This could make it more difficult to wrap up talks for the BTA quickly.
BUSINESS
India-US bet on mutual wins as in-person sectoral BTA talks to begin May-end
India-US Bilateral Trade Agreement: During the Washington meetings, both sides engaged in constructive dialogue on a broad spectrum of issues, including tariff-related and non-tariff barriers.
BUSINESS
India's trade deals with UK, EU in spotlight as Goyal embarks on key visit
Currently in London for two days, Goyal, in his first engagement, held a meeting with the UK Secretary of State for Business and Trade Jonathan Reynolds to advance FTA negotiations
BUSINESS
Centre mulls tightening capex loan scheme as many states prioritise freebies over infra spend
While states like Andhra Pradesh, Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Himachal Pradesh, West Bengal, among others, have largely relied on loans from the Centre to spend on infrastructure, the finance ministry is particularly concerned about the impact of capex assistance on the debt levels of smaller states.
BUSINESS
Indian exports have little to lose from Pakistan's decision to snap trade ties, say experts
Pakistan on April 24 suspended trade with India, including exchange of goods via third countries, after New Delhi put the Indus Waters Treaty in abeyance along with a string of measures following the Pahalgam attack
BUSINESS
Seeking greater access for Indian steel through FTAs, says Piyush Goyal
India is negotiating trade agreements with a several countries, including United Kingdom, the United States, and New Zealand, and the EU
BUSINESS
Goyal invokes 'karma' in nudge to steel makers to back local suppliers, avoid cheaper imports
Minister Piyush Goyal said that while the domestic steel industry requires protection from dumping of goods from other nations, they too have a duty and obligation to support local supply chain.
BUSINESS
India's exports to Pakistan at 5-year high in 2024 defying bilateral tensions
Total merchandise trade between the two countries jumped 127.21 percent to $1,206.76 million in 2024 from the previous year
BUSINESS
iPhone exports: Govt thinks India has edge over China as it studies Trump tariff impact
The trade war between the US and China could give a boost to India-made iPhones, as it may not be easy for Apple to make in America
BUSINESS
Mutual tariff cuts may dominate India-US trade deal talks this week
Negotiations for the proposed BTA may largely focus on mutually lowering tariffs on key goods during India’s US visit this week.
BUSINESS
India Inc pushes for zero-to-zero tariffs on steel, aluminum, auto via BTA with US
Indian Industry is pushing for a zero-to-zero tariff regime on products that attract sectoral duties from the United States such as steel, aluminium, automobile and auto parts.
BUSINESS
India eyes tariff relief on key goods in return for ramping up US defence, energy buys
While New Delhi is considering all tariff lines in the BTA talks, duty cuts will be balanced by buying more American goods to help reduce the trade surplus with US.
