India, EU make good progress in FTA, investment, GI pact talks: Govt

India and the European Union have made good progress in the ongoing three negotiations- India-EU Free Trade Agreement; a standalone Investment Protection Agreement; and a Geographical Indications Agreement, the government said Saturday. The commerce and industry ministry said in a statement that the two sides discussed their market access issues and review the progress made […]

The European Union (EU) is waiting for India’s response to its proposal for a dispute settlement mechanism under the bilateral investment protection pact being negotiated alongside a free trade agreement (FTA). The EU Commissioner for Trade, Valdis Dombrovskis, stated that progress has been made in the FTA negotiations but there is still much work to […]

Kazakhstan has ranked 25th in the World Bank’s Ease of Doing Business Report. The country aims to enter the top 10 countries within 5 years. Kazakhstan is India’s main trading partner in Central Asia, with bilateral turnover exceeding that of all other countries in the region. Kazakhstan offers over 200 project packages in various sectors, […]

“An FTA agreement is very close for a final call with the UK and I think negotiations with Canada are also progressing and I expect that to come to a conclusion sooner than later,” Sitharaman said. She further said the finance ministry and commerce ministry are working closely on trade agreements with different countries.

Chinese vice trade minister Wang Shouwen stated that India and China’s trade relationship has been growing rapidly, and India is welcome to join the Regional Comprehensive Economic Partnership (RCEP). India had previously walked out of RCEP due to concerns about the trade imbalance with China.

At a session with Chinese and US trade ministers, Union Minister Piyush Goyal on Friday said India did not join China-led RCEP as its trade deficit would have widened and New Delhi’s “heart” is with Washington, hinting at the trade surplus with the US. The Commerce and Industry Minister’s remarks at the B20 summit in […]

India has notified the export of 5,841 tonnes of sugar to the European Union (EU) under the tariff-rate quota (TRQ) scheme for the period of October 2023 to September 2024. TRQ allows for a certain volume of exports with low tariffs, after which higher tariffs apply.

Addressing the opening session of the two-day TIMM in Jaipur, he said the meeting aims to formulate fair, inclusive and sustainable trade and trade-related investment policies. “While recognising the importance of smooth logistics for international trade, he said that paperless trading is a critical step towards streamlining cross border transactions, reducing administrative delays and enhancing […]

EU commissioner for trade Valdis Dombrovskis also indicated the two sides may resolve their outstanding dispute. The two are involved in a dispute over tariffs imposed by New Delhi on information and communication technology goods outside the World Trade Organization.

India’s trade deficit is decreasing rapidly, and the country’s exports are expected to grow positively in the coming months, according to Commerce and Industry Minister Piyush Goyal. Goyal attributed the decline in exports to a global slowdown, high interest rates, and reduced discretionary spending. Lower petroleum prices also contributed to the decrease in exports.