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India and Peru agreed to hold intersessional meetings to address pending issues ahead of the next round of negotiations to be held in New Delhi in January
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Goyal added that the talks with the US are progressing well, while also stating that India does not negotiate any trade deals based on deadlines.
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The Commerce Ministry has plans to consult stakeholders to boost domestic production of engineering goods, pharmaceuticals, chemicals, and plastics, Commerce Secretary Sunil Barthwal.
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The ministry also plans to speed up the implementation of the Export Promotion Mission that was announced in the budget for FY26.
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Given that India may sign a bunch of key trade deals soon, any turbulence in the rest of the world will hurt India relatively less because the country has a big runway of growth ahead, Goyal said while addressing Swiss businesses in Bern.
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Negotiating countries are now using NTBs or NTMs to drive hard bargains in commercial negotiations
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India is negotiating a slew of trade deals, including with the UK, Oman and the EU, and also plans to bring back on the table a 'mini pact' with US
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Around 53 percent of the CEOs say bold reforms to boost manufacturing and job prospects will be key to India’s growth
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The commerce minister warned the automobile industry from depending heavily on imports, especially on countries that indulge in non-transparent economic practices.
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India sealed only one trade agreement with the European Free Trade Association (EFTA) in 2024, but a bunch of these agreements are in the pipeline. Experts say bilateral pacts could help merchandise exports that has been lagging compared to services.
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More than five years after India decided to drop out of the Regional Comprehensive Economic Partnership (RCEP), conversations on the merits of reconsidering this decision are picking up.
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The top bureaucrat for DPIIT clarified that every investment from Beijing will still go through the required checks and that the government is not looking to ease FDI norms for nations that share a land border with India.
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The move to ramp up the number of officials directly involved in trade pact talks as well as finalising a standard operating procedure comes at a time when India is negotiating such deals with a number of nations and groupings.
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The government follows a careful and calibrated approach when negotiating for FTAs to ensure that the trade deal is "fair, equitable and balanced", Goyal said during an interaction at the Raisina Dialogue 2024
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Singh’s visit to the UK, a first for an Indian defence minister since 2002, is expected to include discussions on a wide range of issues, including security and industrial cooperation. New Delhi’s relations with London are guided by the India-UK Strategic Partnership, part of an agreed-upon 2030 roadmap between the two nations.
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According to Ahluwalia, India cannot latch on to global supply chains if the country insist on maintaining higher import duties compared to other East Asian countries.
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Weighing in on the debate over 'freebies', the NITI Aayog member said that the overall focus should be on capital expenditure that benefits everybody rather than a non-merit subsidy, which benefits only a few.
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India’s exports to Japan dipped to $ 5.46 billion in 2022-23 from $ 6.17 billion in 2021-22, as per commerce ministry data
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The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significant manner.
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A London based newspaper in its report published on April 10 had said that FTA talks between UK and India stood suspended, without a public condemnation of Khalistan movement.
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The removal of a 5 percent duty on plain and studded gold jewellery from India as part of the recent free trade agreement with the UAE is expected to increase exports by $5 billion.
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India should ensure that bilateral trade deals are in sync with the country’s overall industrial policy
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There is apprehension among government departments and industry that a trade deal on the current terms will lead to China dumping goods in India.
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India has so far implemented FTAs with countries like Japan, South Korea, Singapore and Asean. It is negotiating several such pacts with nations like the EU, Australia and New Zealand.
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"India's Free Trade Agreements (FTAs) with various countries are not being leveraged fully by Indian exporters. Our department is ready to assist our exporters in leveraging these FTAs better," Commerce Secretary Rita Teaotia said after inaugurating 'CAPINDIA 2016' exhibition here.
