India negotiating trade pact with EU, UK, Sri Lanka, Peru

“India-Sri Lanka Economic and Technology Cooperation Agreement (ECTA) negotiations are ongoing with the 12th round of negotiations conducted from 30th October to 1st November 2023 in Colombo,” it said. It added that both sides also agreed to continue discussions on matters, including apparel quotas and pharmaceutical procurement.

For the EU, the tax range is 20-35%. Both the UK and the EU have implemented emissions trading systems (ETS) to cap and reduce greenhouse gas emissions. These systems work by setting a limit on the total amount of carbon dioxide emissions allowed and then issuing permits to emitters. Companies must purchase permits for each […]

India’s main exports to the UK are ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, while key imports include precious and semi-precious stones, ores and metal scraps, and engineering goods. Discussions are also going on between the countries on the bilateral investment treaty. Investment is being negotiated as a separate […]

In such agreements, two countries either substantially cut or eliminate customs duties on the maximum number of goods traded between them, besides easing norms for promoting trade in services and investments. It was decided that an Oman Desk would be created in Invest India for this purpose. Similarly, Invest Oman would also launch an India […]

In June, the US and India agreed to drop six WTO (World Trade Organisation) disputes, encompassing three cases initiated by each.

The Ministry of Commerce and Industry announced that the fourteenth round of Free Trade Agreement negotiations between India and the UK will take place in January 2024. The negotiations, which focused on complex issues like goods, services, and investment, will continue.

Bhutan’s King Jigme Khesar Namgyel Wangchuck on Sunday unveiled plans for a mega city project near the Indian border – the Gelephu Special Administration Region (SAR), spreading across 1,000 sq km. The project will link Bhutan economically with Assam to spur regional and sub-regional integration.

The commerce and industry ministry is drawing up a roadmap to work on the kind of documentation that needs to be maintained by Indian exporters to deal with anti-subsidy levies such as countervailing duty cases conducted by various countries on domestic products.

Alcoholic beverages makers’ body CIABC on Sunday sought greater market access for domestic products in the European markets and removal of non-tariff barriers to boost exports. Confederation of Indian Alcoholic Beverage Companies (CIABC) said that the EU should remove the non-tariff barriers which prevent the vast majority of Indian products from being sold in their […]

In 2023, sectors which are expected to register growth include, aviation turbine fuels, motor gasoline, smartphones, basmati rice, motor car-medium size, turbo-jets, and auto components. Smartphone exports are expected to jump by about 93 per cent to USD 14 billion during the current calendar year as against USD 7.2 billion in 2022.