INDIA OMAN FREE TRADE AGREEMENT
'Sectors like innovation, energy, technology offer immense potential': PM Modi on meeting CEOs in Cyprus
In a post on X, PM Modi said, "Boosting business linkages! President Nikos Christodoulides and I interacted with leading CEOs in order to add vigour to commercial linkages between India and Cyprus. Sectors like innovation, energy, technology and more offer immense potential. I also talked about India's reform trajectory in the last decade."
FTA with India brings 'genuine' competitive advantage, UK Parliament told
The UK-India Free Trade Agreement (FTA) is poised to give the UK a significant competitive edge in manufacturing, particularly in the automotive and machinery sectors. UK Business and Trade Secretary Jonathan Reynolds highlighted the deal as India's best offer to date, projecting a substantial increase in bilateral trade.
Quality control can be eased for trusted partners: Piyush Goyal
The minister, on a four-day visit to Switzerland and Sweden, said discussions on 90% of content were complete on India-EU FTA, with services and rules of origin negotiations slated to start from Monday. However, he said, key issue to be addressed is non-tariff barriers to make it easy to do business.
Piyush Goyal says addressing non-tariff barriers key to India-EU trade pact
Commerce and Industry Minister Piyush Goyal announced that India and the EU are nearing completion of FTA talks, with significant progress made in resolving non-tariff barriers. Goyal highlighted that over half the chapters are ready and market access is almost 90% complete. Discussions are ongoing to address regulatory hurdles and promote smoother trade.
US trade pact set for early finish: Piyush Goyal
India and the US are progressing towards a trade agreement. The target is before fall 2025. Piyush Goyal highlights India's strong position with existing FTAs with various nations. Discussions are ongoing with the US, EU, Peru, Chile, and Oman for further trade agreements. Goyal notes the world recognizes India's growing economic strength.
India-EU Free Trade Agreement feasible by end of 2025: S Jaishankar
External Affairs Minister S Jaishankar has expressed optimism about the India-EU Free Trade Agreement (FTA) negotiations, stating that significant progress has been made and the year-end timeline for completion seems feasible. He highlighted the broad scope of India-EU relations, encompassing defence, security, and talent mobility.
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'Cutting red tape in India key to Swiss investments': Helene Budliger Artieda
Switzerland's state secretary for economic affairs, Helene Budliger Artieda, emphasized the need for a better regulatory environment and reduced red tape in India to attract Swiss investments, particularly concerning the $100 billion commitment under the EFTA trade agreement.
Swiss part of EFTA deal to be implemented by October: Piyush Goyal
Commerce Minister Piyush Goyal announced the EFTA trade deal's Swiss component is expected by October 2025, following ratification by Iceland, Liechtenstein, and Norway. He urged Swiss businesses to invest in India, highlighting its technological advancements and skilled workforce.
India needs better regulatory framework to attract investments: Swiss diplomat
Helene Budliger Artieda, Switzerland's State Secretary, emphasised that reducing bureaucratic hurdles in India is crucial for attracting Swiss investments, following the recent free trade agreement between India and the EFTA. She addressed concerns raised by businesses and clarified the temporary suspension of the MFN clause in the DTAA, assuring its validity.
Challenging times for global trade; India will certainly cross USD 825 bn exports this fiscal: Piyush Goyal
Despite global economic uncertainties, India's exports reached a record USD 825 billion in 2024-25, and are projected to surpass this figure in 2025-26, potentially reaching USD 1 trillion. The growth is attributed to diversified sourcing and new free trade agreements with countries like the UAE and Australia.
Govt may help MSMEs register products abroad: Piyush Goyal
Piyush Goyal announced India's plan to launch a scheme supporting MSMEs in registering products overseas, aiming to boost exports of value-added goods. He highlighted ongoing FTA negotiations with the EU, New Zealand, and Oman, anticipating a deal with the EU soon.
We are 'really very near' to concluding FTA with EU: Piyush Goyal
Commerce Minister Piyush Goyal said India and the European Union are close to finalising a free trade agreement, with only a few issues remaining. Talks resumed in 2022 after a nine-year gap. The proposed deal covers 23 policy areas. In 2023-24, bilateral goods trade stood at $137.41 billion, and services trade at $51.45 billion.
India-US trade pact: Officials discuss market access, digital trade, customs facilitation
India and the US engaged in discussions regarding a proposed bilateral trade agreement. Talks covered market access, digital trade, and customs facilitation. Both sides aim for a swift conclusion to the initial agreement. The US delegation visited India for in-depth negotiations. They are working towards a mutually beneficial agreement by fall 2025. The US is India's largest trading partner.
Govt considering scheme to help MSME exporters register goods in new markets: Goyal
The minister is in Switzerland on an official visit to hold meetings with Swiss leaders and companies to boost trade and investments between the two countries.
India-EFTA trade pact to come into effect in September: Piyush Goyal
India’s trade pact with the European Free Trade Association (EFTA)—comprising Switzerland, Norway, Iceland, and Liechtenstein—will take effect by September, Commerce Minister Piyush Goyal said. The deal includes a $100 billion investment commitment over 15 years.
India always ready to conclude trade pact with low hanging fruits: Piyush Goyal on US trade deal
India is keen to finalize a trade agreement with the US by initially focusing on easily achievable aspects, according to Commerce Minister Piyush Goyal. Discussions are underway in New Delhi, with hopes of an interim deal before July 9. Both nations aim to significantly increase bilateral trade to USD 500 billion by 2030, building on the existing USD 191 billion.
India-EFTA trade pact likely to be implemented from September: Piyush Goyal
India and EFTA's trade agreement may start in September. Piyush Goyal mentioned this after the agreement was signed on March 10, 2024. India will receive USD 100 billion investment in 15 years. Approvals are in progress. Goyal is in Switzerland to boost trade. Swiss firms are interested in pharma and cybersecurity sectors. There is excitement for India.
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
India is emerging as a prime destination for leveraging Free Trade Agreements, boosted by the success of the Make in India program, according to Retailers Association of India CEO Kumar Rajagopalan. He highlighted India's attractive consumer market, driven by a young population with rising incomes.
India hails trade deal in talks with visiting British FM
Indian Foreign Minister Subrahmanyam Jaishankar said on Saturday a trade deal with Britain was "truly a milestone" that will boost bilateral ties as he welcomed his counterpart David Lammy to New Delhi.
Had a fruitful meeting with UK Foreign Secretary David Lammy: Piyush Goyal
Union Minister Piyush Goyal and UK Foreign Secretary David Lammy convened to enhance bilateral trade and fortify collaboration across sectors, aiming to fully realize their Comprehensive Strategic Partnership. Both leaders lauded the progress in finalizing the historic India-UK FTA, anticipating a significant boost to their growing relationship.
UK foreign secretary supports India's fight against cross-border terrorism
Prime Minister Modi and UK Foreign Secretary David Lammy met, emphasizing decisive action against terrorism, with Lammy condemning the Pahalgam attack and supporting India's fight against cross-border terrorism. Modi expressed satisfaction with the India-UK Free Trade Agreement and Double Contribution Convention. Both leaders discussed enhancing cooperation across various sectors and addressed regional and global issues.
EU, India will beat expectations by wrapping up FTA talks early: Piyush Goyal
India and the European Union are working to finalize the Free Trade Agreement talks before the deadline. Piyush Goyal met Maros Sefcovic multiple times to speed up negotiations. India-Italy bilateral trade is currently suboptimal. India proposed an industrial enclave for Italian companies in India. The aim is to boost trade, investment, and tourism between the two nations.
Held 3 meetings in 35 days with EU trade commissioner to push FTA talks: Goyal
India and the European Union are actively pursuing a free trade agreement. Commerce Minister Piyush Goyal and European Commissioner Maros Sefcovic have met multiple times recently. India has already signed agreements with EFTA and the UK. Negotiations with the EU stalled in 2013 but resumed in June 2022.
Piyush Goyal pushes for bigger India-France trade game
Piyush Goyal asked businesses to identify areas of trade where the two sides can help each other in crossing the Rubicon of regulation. "Indian businesses are foxed navigating between the EU regulations and individual regulations in member countries," Goyal said while addressing businesses of India and France.
EU FTA to be comprehensive, not interim: Officials
India and the EU are negotiating a comprehensive free trade agreement. It will not include an early harvest deal. Discussions are ongoing regarding Geographical Indications. Investment protection is also being discussed. Both sides are addressing concerns like the EU's carbon border adjustment mechanism. India may impose retaliatory duties if the EU imposes a carbon tax.
'India, US to resolve all issues bilaterally': Piyush Goyal
India and the US will address trade issues, including increased US tariffs on steel and aluminium. Both nations aim for a bilateral trade agreement, targeting $500 billion in trade by 2030. US officials will visit India for trade discussions. An interim deal is expected by June. India and Oman are also progressing on a free trade agreement.
India, US desire to give preferential market access to businesses; talks on for trade pact: Goyal
India and the US are actively pursuing a bilateral trade agreement to boost economic ties, aiming to more than double trade to USD 500 billion by 2030. Despite concerns over potential tariff hikes on steel and aluminum, both nations are committed to resolving trade issues bilaterally.
"Will negotiate a fair balance," Piyush Goyal optimistic of wrapping up FTA with EU by year end
India aims to finalize a Free Trade Agreement with the European Union by year-end. Commerce Minister Piyush Goyal sees minimal disagreements. Both economies complement each other, boosting growth. Sensitive issues need resolution. India emphasizes gender equality and sustainability. The FTA focuses on market access and trade. It promises broader economic opportunities and benefits for consumers.
India and Chile conclude first round of FTA talks
India and Chile have successfully completed the initial round of negotiations for a comprehensive bilateral free trade agreement, according to the Department of Commerce. Building upon their existing preferential trade agreement established in 2006, the two nations are now working towards a broader economic partnership. The proposed agreement aims to encompass sectors like digital services, investment, MSMEs, and critical minerals.
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