India and the European Union are pushing for an early operationalization of their free trade agreement. The deal, in the making for two decades, is expected to be in effect within a year. This agreement offers access to a massive EU market. India is actively engaging with EU stakeholders to expedite the process.
India, EU working to make FTA operational at earliest
Canadian PM Mark Carney’s upcoming India visit in March is poised to secure a significant 10-year uranium supply deal worth 2.8 billion Canadian dollars. The trip also aims to finalize agreements for long-term energy supplies, including crude oil, LPG, and LNG, as well as critical minerals, seeking to reset bilateral ties.
Canada is positioning itself as a dependable energy partner for India. Canadian energy minister Tim Hodgson stated Canada can supply crude oil, LNG, and LPG at competitive prices. This move aims to diversify Canada’s energy exports beyond the United States. Canada sees energy as a key to doubling trade with India by 2030.
India auto exports: In South Africa, the number of vehicles shipped from China has surged 368% over the past four year, and from India 135%. Competition has been fiercest in the entry-level segment of the market, with lower-priced imports compressing margins for domestic producers.
India and the European Union have finalized a landmark free trade agreement. This pact will slash tariffs on over 99% of Indian exports, including apparel and chemicals. European cars, wines, and consumer goods will become more affordable in India. The deal is expected to double trade between the two entities within six years.
India has blocked China’s request at the World Trade Organization (WTO) for a dispute panel concerning New Delhi’s incentive schemes for auto, battery, and electric vehicles. Beijing claims these measures are trade-restrictive and discriminatory, but India maintains there’s an inaccurate understanding of the facts. The two nations failed to resolve the dispute through bilateral consultations.
ET Graphics: Decoding the ‘Mother of all deals’
1 month ago
After 18 years of negotiations, India and the EU have concluded their free trade agreement, marking India’s largest FTA to date. This pact offers India preferential access to all 27 EU member states, arriving amidst global trade volatility and efforts to diversify away from China.
India’s free trade agreement with the EU is poised to boost market access for services and digital trade, enhancing skilled worker mobility. Experts anticipate increased European investment in India’s IT sector, fostering joint ventures and R&D in emerging technologies. The pact aims to facilitate seamless cross-border data flows, reducing regulatory friction for businesses.
India and the European Union have concluded talks for a free trade agreement. This pact, the ‘mother of all deals’, marks 18 years of discussions. Legal review is underway, with signing expected later this year and implementation early next year. The agreement aims to boost trade and investment between the two major economic blocs.
India and Russia are on track to reach $100 billion in bilateral trade by 2030, with Ambassador Vinay Kumar expressing confidence in achieving this goal. The nations are expanding their trade basket, identifying new items, and exploring a free trade agreement to boost commerce, particularly in fertilizers, agriculture, and engineering. Increased trade in national currencies […]