India’s FTA partners should keep in mind huge market being offered to them: Goyal

Commerce Minister Piyush Goyal emphasized that countries seeking Free Trade Agreements (FTAs) with India should recognize its vast market and business potential. He assured fair negotiations, considering India’s interests. The UK’s Minister Lord Ahmad highlighted growing bilateral trade and the importance of their trade agreement. Germany’s Tobias Lindner emphasized the potential benefits of the India-EU […]

Negotiations for the India-UK free trade agreement are in the final stage. A high-level Indian delegation is heading to London to resolve remaining issues on goods, services, and rules of origin. The negotiations cover 26 chapters, including market access, skilled professionals, and import duties. The bilateral trade between India and the UK increased to USD […]

Arvind Panagariya, chairman of the Sixteenth Finance Commission, emphasized the need for India to focus on exports to achieve a 10% growth rate. He highlighted the importance of following China’s strategy. Panagariya also stressed the need for states to prioritize labor-intensive industries and create special zones.

India, Brazil and South Africa are the troika of the G20, the WTO DG said. “We hope they will work together to ensure MC13 is a success… the entire package… not one issue or the other… it is across the board,” she told ET. “Not just G20, they are also BRICS (members)… they should support […]

The government maintains the differential between local and international prices, and is not considering any cut in import duty on rubber. The duty on import of dry rubber was increased, and port entry for import of natural rubber has been restricted.

Eight sub-committees have been constituted under the India-Asean free trade agreement joint committee for the review of the pact. The AITIGA Joint Committee aims to conclude the review in 2025 and address the long-standing demand of Indian businesses to eliminate barriers and misuse of the trade pact.

India aims to secure a permanent solution for public stockholding, reform the WTO, end the moratorium on customs duties for digital transactions, protect the interests of poor fishermen, and propose reforms in the WTO dispute settlement system.

India is headed for general elections in April-May while polls in the UK are to take place by January next year. While most of the 26 chapters of the pact, dealing with the opening up of varied sectors, are either closed or at an advanced stage of negotiations, some issues related to rules of origin […]

India, the world’s second largest onion exporter, had banned shipments of the kitchen staple in December 2023 till March 2024 due to rising domestic prices and potential shortages. This led to a surge in onion prices in neighbouring countries.

The scheme does not include all exports. Products exported from SEZs, EOUs, Electronic Hardware Technology Parks, Biotechnology Parks and Customs bonded warehouses; exports under Advance Authorisation (which allows duty-free imports of inputs for export production); re-exported imported goods are excluded.