India and the European Union are pushing for an early operationalization of their free trade agreement. The deal, in the making for two decades, is expected to be in effect within a year. This agreement offers access to a massive EU market. India is actively engaging with EU stakeholders to expedite the process.
India, EU working to make FTA operational at earliest
Canadian PM Mark Carney’s upcoming India visit in March is poised to secure a significant 10-year uranium supply deal worth 2.8 billion Canadian dollars. The trip also aims to finalize agreements for long-term energy supplies, including crude oil, LPG, and LNG, as well as critical minerals, seeking to reset bilateral ties.
India auto exports: In South Africa, the number of vehicles shipped from China has surged 368% over the past four year, and from India 135%. Competition has been fiercest in the entry-level segment of the market, with lower-priced imports compressing margins for domestic producers.
India and the European Union have finalized a landmark free trade agreement. This pact will slash tariffs on over 99% of Indian exports, including apparel and chemicals. European cars, wines, and consumer goods will become more affordable in India. The deal is expected to double trade between the two entities within six years.
India has blocked China’s request at the World Trade Organization (WTO) for a dispute panel concerning New Delhi’s incentive schemes for auto, battery, and electric vehicles. Beijing claims these measures are trade-restrictive and discriminatory, but India maintains there’s an inaccurate understanding of the facts. The two nations failed to resolve the dispute through bilateral consultations.
ET Graphics: Decoding the ‘Mother of all deals’
5 months ago
After 18 years of negotiations, India and the EU have concluded their free trade agreement, marking India’s largest FTA to date. This pact offers India preferential access to all 27 EU member states, arriving amidst global trade volatility and efforts to diversify away from China.
India’s free trade agreement with the EU is poised to boost market access for services and digital trade, enhancing skilled worker mobility. Experts anticipate increased European investment in India’s IT sector, fostering joint ventures and R&D in emerging technologies. The pact aims to facilitate seamless cross-border data flows, reducing regulatory friction for businesses.
SCI floats EoI for eight gas carriers, mandates local build and Press Note 3 compliance
5 months ago
Shipping Corporation of India is looking to acquire eight new very large gas carriers. Six of these vessels will be built in India. Two can be constructed by international shipyards. Bidders from countries sharing a land border with India must be registered with the Competent Authority. This ensures Press Note 3 restrictions are followed.
In an analyst call, India’s second-largest port operator also said its operating Ebitda is expected to double by FY28 from FY26 levels as new port and logistics assets become operational.
Shipping Corporation of India has invited bids to acquire eight new very large gas carriers, of which six must be built in India and two can be supplied by overseas shipyards. The move aligns with the government’s push to boost domestic shipbuilding capacity.