India will not allow evergreening of patents: Piyush Goyal

Commerce and Industry Minister Piyush Goyal affirmed India’s commitment to preventing the “evergreening” of patents, despite having robust intellectual property rights chapters in free trade agreements with the UK and EFTA. Certain multinational firms have requested India to amend these laws, which were strongly opposed.

An Indian firm, Ideal Detonators, defended its $1.4 million shipment of HMX to Russia, stating it complied with Indian regulations and was intended for civilian industrial use. This occurred despite U.S. warnings about sanctions for supporting Russia’s war efforts. The U.S. government considers HMX critical for Russia’s military, though it has limited civilian applications.

The India–UK Comprehensive Economic and Trade Agreement (CETA) is expected to boost exports from major Indian states by eliminating tariffs and improving market access. Key sectors like textiles, pharmaceuticals, Engineering goods stand to benefit, enhancing trade prospects and driving economic gains across diverse regional economies.

India and the UK have formalized a trade agreement, offering immediate duty-free access to a quarter of UK exports while safeguarding sensitive sectors like dairy and strategic industries. Concessions for other products will be phased in over several years, with specific rules of origin to prevent transshipment.

The India-UK free trade agreement’s public procurement provisions will grant Indian companies non-discriminatory access to the UK market, valued at USD 122 billion. The UK has committed to non-discriminatory treatment for Indian suppliers under its social value regime.

India and the UK have agreed to negotiate mutual recognition agreements to facilitate the movement of professionals like nurses, accountants, and architects to Britain within 36 months. As part of the India-UK Comprehensive Economic and Trade Agreement, Britain will allow business visitors and intra-corporate transferees, including partners and dependents, with assured mobility regime.

The India-UK free trade agreement lacks provisions for Britain’s proposed Carbon Border Adjustment Mechanism (CBAM). Officials stated that if the UK implements CBAM in the future, India reserves the right to implement measures to mitigate its impact on domestic exports. This understanding, formalized in a note verbale, allows India to counterbalance any trade disadvantages arising […]

India is set to open government contracts to companies from the UK. This move will allow UK firms to bid on projects in transport, green energy, and infrastructure. UK-origin goods with 20% domestic content will be treated as local suppliers. This decision marks a shift in India’s procurement strategy.

The India-UK trade agreement brings a new ‘co-equal’ rule. This offers flexibility for goods like chemicals and steel. Producers can meet any origin criteria to benefit. These rules prevent FTA circumvention and substandard imports into India. This pact differs from earlier ones with simpler origin rules. Elaborate rules are created for the first time, though […]

India and the UK have formalized a Comprehensive Economic and Trade Agreement (CETA), targeting a trade volume exceeding $100 billion by 2030. This landmark deal, India’s 16th such pact, eliminates tariffs on key sectors like leather and apparel in the UK, while reducing duties on British whisky and cars in India.