India-EFTA trade pact to be implemented from October 1, says Piyush Goyal
India will sign trade deals only if they serve national interest, Piyush Goyal reiterates govt’s stand
3 months ago
Piyush Goyal reiterated India’s cautious approach to trade deals, prioritizing national interests. He emphasized the need for MSMEs to focus on innovation, quality, and scaling up, urging them to report non-tariff barriers. Goyal also highlighted the Modi government’s successful restructuring of the banking sector, contrasting it with the previous UPA regime’s struggles with NPAs.
Russia is pushing to revive the Russia-India-China (RIC) trilateral mechanism amid Western pressure, particularly on energy trade. While China quickly endorsed the idea, India is cautiously open. The RIC aims to counterbalance Western dominance and promote multipolarity. However, India’s strong ties with the US and unresolved border issues with China pose limitations.
India and the EFTA countries free trade agreement will be implemented from October 1. The agreement aims to boost trade and investment between India and Iceland, Liechtenstein, Norway, and Switzerland. EFTA has committed to invest USD 100 billion in India, creating one million direct jobs. India will lower or eliminate duties on some EFTA products.
PM Modi expected in UK on July 23-24 for FTA signing
3 months ago
Prime Minister Narendra Modi is anticipated to visit the United Kingdom on July 23-24, potentially marking the formal signing of the India-UK free trade agreement. Discussions are also expected to revolve around strengthening bilateral security cooperation. Following the UK visit, Modi will travel to the Maldives on July 25-26 as the Chief Guest for their […]
A high-level dialogue in Geneva, convened by CUTS International, addressed the fragility of the multilateral trading order and the importance of revitalizing the WTO, especially for African nations. Discussions centered on the AfCFTA’s implementation, attracting sustainable investment, and leveraging the upcoming MC14 in Cameroon to advance Africa’s developmental priorities.
India, UK likely to unveil Free Trade Agreement next week, including whisky, EVs, textiles
3 months ago
India and the UK are set to sign a long-awaited free trade agreement next week, according to two Indian government sources. The deal will provide Indian electric vehicles and textiles with duty-free access to the UK market, while easing tariffs on British exports such as whisky, cars, and food.
Larsen and Toubro will invest Rs 1,000 crore in its Katupalli shipbuilding complex. This investment aims to boost production capacity. The company plans to develop new facilities within its existing land. These facilities will include additional shops and skill development centers. The project is expected to start in October and complete in three years.
The US has informed the WTO that India’s proposed retaliatory tariffs on American steel, aluminum, and automobiles lack a legal foundation. This stance comes after India asserted that US safeguard measures would significantly impact its exports, leading to substantial duty collections. The US defends its tariffs under a national security statute, even as bilateral trade […]
The US has emerged as India’s top trade partner in the first quarter of FY26, dominating exports in electronics, marine goods, and readymade garments. A commerce department analysis reveals the US accounted for over 60% of India’s electronics exports and significant shares in the other sectors.