European Commission chief Ursula von der Leyen and her team visited India to strengthen EU-India relations, announcing plans for a free trade agreement and a defense partnership. This visit highlights a shift in European strategy to broaden alliances amid global tensions.
Friendless EU suddenly turns to India’s trade and defence edge in a changing world
Commerce and Industry Minister Piyush Goyal will visit Washington to discuss a bilateral trade agreement with the US. India and the US aim to double commerce to USD 500 billion by 2030 and finalize an agreement by 2025. Amid rising tariffs, both nations plan to make concessions as their economies complement each other.
India’s exports to the US include products like iPhones and solar panels with low local value addition, leading to minimal economic gains for India. Think tank GTRI urges the government to ensure the US understands India’s WTO-compliant import duties. With upcoming trade talks, India must strategize to avoid escalated trade tensions while explaining its tariff […]
India’s import duties align with global trade rules, and the government should communicate this to the US. However, negotiating a free trade agreement with the US poses challenges, including pressure to open government procurement, reduce agricultural subsidies, and alter data flow restrictions, which India continues to resist.
India and the EU are aiming to finalize a free trade agreement by the end of the year. Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic held talks in Mumbai to push for a balanced and mutually beneficial deal. The next round of negotiations is set for March 10-14 in Brussels.
India and the EU are accelerating efforts to finalize a free trade agreement by the end of the year. Key areas include duty cuts on specific goods and data security for India’s IT sector. The agreement aims to enhance bilateral trade and investment, amidst concerns over potential US tariffs.
Arvind Panagariya, Chairman of the 16th Finance Commission, suggests India leverage the US threat of reciprocal tariffs to secure mutual tariff reductions, fostering a win-win situation. He warns of the negative consequences of a tariff war. The US-India bilateral trade reached USD 190.08 billion in 2023, with a significant trade surplus for India.
Commerce Minister Piyush Goyal plans to visit Washington to meet newly appointed USTR Jamieson Greer. This visit aims to initiate talks on a Bilateral Trade Agreement between India and the US, targeting negotiation completion by autumn 2025. Both nations aim to double two-way trade to $500 billion by 2030, focusing on increasing market access and […]
India has issued its first offshore mining block to the Jawaharlal Nehru Ports Authority for construction sand to be used in developing a Greenfield Port at Vadhavan, Maharashtra. The port development, valued at Rs 76,220 crore, will significantly reduce dependency on land-based sand for its operations and create substantial cargo handling capacity.
India-EU aim to conclude FTA negotiations by this year, MEA says after EU chief’s ‘landmark visit’
1 year ago
Leaders from India and the European Union held discussions in New Delhi, aiming to finalize the Free Trade Agreement by the end of the year. The wide-ranging talks focused on various sectors including trade, digital green technology, energy, and environment, with significant progress noted in cooperation on AI, semiconductors, and green energy initiatives.