India and the EU are aiming to finalize a free trade agreement by the end of the year. Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic held talks in Mumbai to push for a balanced and mutually beneficial deal. The next round of negotiations is set for March 10-14 in Brussels.
India, EU discuss efforts to accelerate FTA discussions
Arvind Panagariya, Chairman of the 16th Finance Commission, suggests India leverage the US threat of reciprocal tariffs to secure mutual tariff reductions, fostering a win-win situation. He warns of the negative consequences of a tariff war. The US-India bilateral trade reached USD 190.08 billion in 2023, with a significant trade surplus for India.
India and the EU are accelerating efforts to finalize a free trade agreement by the end of the year. Key areas include duty cuts on specific goods and data security for India’s IT sector. The agreement aims to enhance bilateral trade and investment, amidst concerns over potential US tariffs.
Commerce Minister Piyush Goyal plans to visit Washington to meet newly appointed USTR Jamieson Greer. This visit aims to initiate talks on a Bilateral Trade Agreement between India and the US, targeting negotiation completion by autumn 2025. Both nations aim to double two-way trade to $500 billion by 2030, focusing on increasing market access and […]
India and the European Union have committed to finalizing a free trade agreement by year’s end, aiming to mitigate impacts of U.S. tariff hikes. The deal, covering sectors like technology and green growth, demands significant concessions from both sides, with talks resuming after an eight-year hiatus.
India-EU aim to conclude FTA negotiations by this year, MEA says after EU chief’s ‘landmark visit’
1 year ago
Leaders from India and the European Union held discussions in New Delhi, aiming to finalize the Free Trade Agreement by the end of the year. The wide-ranging talks focused on various sectors including trade, digital green technology, energy, and environment, with significant progress noted in cooperation on AI, semiconductors, and green energy initiatives.
India and Japan have renewed their USD 75 billion bilateral currency swap agreement, as announced by the Reserve Bank of India (RBI). The Bilateral Swap Arrangement (BSA) allows both countries to exchange their local currencies for US dollars. The agreement was signed by the Bank of Japan and the RBI, and it remains effective as […]
India Ratings (Ind-Ra) warned that India’s exports to the US could drop by USD 2-7 billion in FY26 if the US imposes reciprocal tariffs. India’s exports to the US rose 5.57% to USD 59.93 billion in FY25, while imports grew by 1.91%. Bilateral trade discussions and defense pacts may mitigate the impact, with GDP growth […]
India is forming a consortium of state-owned companies to develop and operate ports overseas, responding to China’s global maritime influence. This initiative aims to bolster India’s strategic and trade positioning by enhancing its global shipping network, supporting manufacturing growth, and strengthening supply chains.
India is scrutinizing recent import tariffs from the US as it prepares for trade treaty negotiations. Discrepancies in trade data between the two countries are being addressed, amid Trump’s tariff abuse claims. Notably, the US reports higher imports from India than India’s export figures. Differences in data capturing methods and trade practices may be the […]