India-UK FTA: Rajasthan exporters see boost in gems, jewellery exports

Rajasthan’s exporters are set for a boom in trade with the United Kingdom. A new Free Trade Agreement will make 99 percent of Indian exports duty-free. This move is expected to boost gems, jewellery, handicrafts, and textiles. Jaipur jewellers foresee tough competition for China and Thailand. The agreement promises to reshape India’s export landscape and […]

Next week, Commerce and Industry Minister Piyush Goyal will embark on a visit to New Zealand to engage in productive discussions surrounding a proposed free trade agreement. The goal of the negotiations is to bring the FTA to a robust conclusion, enhancing the rapidly growing bilateral trade between India and New Zealand.

In a significant move to enhance trade efficiency, the DGFT has introduced a self-declaration method for domestic exporters to secure their Certificate of Origin under the India-EFTA free trade agreement.

Commerce and Industry Minister Piyush Goyal stated that his recent talks with the EU have significantly reduced outstanding issues, paving the way for a robust and balanced Free Trade Agreement. Both sides expressed optimism following productive discussions, with further technical negotiations scheduled in New Delhi next week to expedite the conclusion of the FTA.

India’s recent free trade pact with EFTA opens doors for Swiss horology, especially for brands like Breitling. CEO Georges Kern anticipates a surge in profits and investment opportunities within India’s thriving luxury market.

India’s export landscape is rapidly transforming as electronics, driven by the PLI scheme and Apple’s manufacturing shift, surges past petroleum products. This strategic move, bolstered by significant investments and government initiatives, is positioning India as a global electronics manufacturing hub, promising substantial job creation and economic growth.

India and the European Union are advancing free trade agreement negotiations. Key tariff issues are seeing good progress. An EU delegation will visit New Delhi soon to finalize technical tariff discussions. Both sides aim for a robust and balanced agreement. This pact is expected to bring the economies closer and foster mutual benefits.

External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio in Kuala Lumpur. They discussed regional geopolitics and global issues. West Asia and Ukraine were key topics. Energy ties and trade deal progress were also on the agenda. The meeting covered bilateral ties and broader international matters.

India voiced serious concerns regarding restricted energy trade and market access issues. External Affairs Minister S Jaishankar highlighted selective norm application and growing supply chain unreliability. He also stressed a zero-tolerance policy towards terrorism. These remarks come amid India’s procurement of Russian crude oil, a point of contention with the US.

Sweden is enhancing its footprint in India. According to Ambassador Jan Thesleff, a five-year roadmap has been established to double the influx of Swedish investments and job opportunities. With more than 280 Swedish enterprises currently operational, emphasizing innovation and manufacturing, this growth aligns seamlessly with India’s ‘Make in India’ initiative.