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India-EFTA trade pact to be implemented from Oct 1: Goyal

Economic Times

Economic Times · 1m ago

India-EFTA trade pact to be implemented from Oct 1: Goyal

The free trade agreement between India and the European Free Trade Association (EFTA) will be implemented from October 1. This pact, signed on March 10, 2024, promises India an investment commitment of USD 100 billion over 15 years while reducing duties on products like Swiss watches and chocolates. EFTA members include Iceland, Liechtenstein, Norway, and Switzerland. This agreement aims to create 1 million direct jobs in India and strengthen trade ties with these nations.

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India, EFTA trade pact to bring stability, predictability in partnership: Piyush Goyal

YourStory

YourStory · 2m ago

India, EFTA trade pact to bring stability, predictability in partnership: Piyush Goyal

The free trade agreement (FTA) between India and the European bloc EFTA aims to bring stability and predictability to businesses, according to Commerce and Industry Minister Piyush Goyal. The agreement, signed in March 2024, promises India an investment commitment of $100 billion over 15 years. It reduces duties on products like Swiss watches and diamonds. EFTA members include Iceland, Liechtenstein, Norway, and Switzerland. The pact is expected to be operational by October.

Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout

Economic Times

Economic Times · 1m ago

Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout

Switzerland has finalized the ratification of a major trade agreement with India and the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, and Norway. This Trade and Economic Partnership Agreement aims to reduce trade barriers, foster sustainable trade practices, and increase Swiss exports to India. Expected to be operational in October, the pact promises a USD 100 billion investment in India and aims to create one million jobs over 15 years.

Announcement of India-US trade agreement has boosted biz confidence: Piyush Goyal

YourStory

YourStory · 6m ago

Announcement of India-US trade agreement has boosted biz confidence: Piyush Goyal

India and the US plan to negotiate a bilateral trade agreement to enhance economic ties and boost business confidence, as announced during Prime Minister Modi's visit to Washington. Commerce Minister Piyush Goyal noted this agreement aims to more than double bilateral trade to $500 billion by 2030. The deal seeks to transform world trade by leveraging competitive strengths. India is also expanding global partnerships through new trade agreements with countries like Australia, the UAE, and the EFTA bloc.

India-US trade pact talks gain momentum, says Goyal

Economic Times

Economic Times · 1m ago

India-US trade pact talks gain momentum, says Goyal

Commerce and Industry Minister Piyush Goyal announced that trade agreement negotiations with the US are progressing rapidly. The US delegation will visit India for further discussions, following the recent completion of the fifth negotiation round in Washington. Both nations aim to finalize the initial phase of the agreement by September-October, targeting to increase bilateral trade from USD 191 billion to USD 500 billion. Additionally, a free trade agreement with Oman is nearing completion.

US trade pact set for early finish: Piyush Goyal

Economic Times

Economic Times · 2m ago

US trade pact set for early finish: Piyush Goyal

India and the US aim to finalize a bilateral trade agreement by fall 2025, as discussed by Commerce Minister Piyush Goyal. India is pursuing multiple free trade agreements (FTAs) with various advanced economies and focusing on ease of doing business, deregulation, and economic stability. The government is also addressing supply chain challenges and encouraging investment. India's IT services exports remain crucial, with ongoing strategies to adapt and thrive amid AI advancements and global market changes.

Will only sign mutually beneficial pact, won't sign any deal under deadline: Piyush Goyal on India-US trade deal

Economic Times

Economic Times · 1m ago

Will only sign mutually beneficial pact, won't sign any deal under deadline: Piyush Goyal on India-US trade deal

Commerce and Industry Minister Piyush Goyal emphasized that India will only sign trade agreements that are mutually beneficial, without succumbing to external deadlines, regarding the India-US Free Trade Agreement (FTA). Discussions, ongoing with the Trump administration, aim to resolve issues in agriculture and auto sectors. The first tranche of a broader bilateral trade agreement is targeted for conclusion by fall, with a goal to double bilateral trade to $500 billion by 2030.

Two days to go: No clarity over US tariffs, trade pact talks on

Economic Times

Economic Times · 1m ago

Two days to go: No clarity over US tariffs, trade pact talks on

With the August 1 deadline approaching, there is uncertainty regarding the U.S.'s higher tariffs on Indian goods. Both countries are engaged in intense trade negotiations, but the exact tariff rates remain unclear. President Trump announced potential tariffs of 15-20% on exports from countries without separate trade deals. The U.S. and India have concluded the fifth round of bilateral trade agreement discussions, aiming to finalize the first tranche by October-November. The outcome of these talks remains uncertain.

Numerous Swiss companies keen on investing in India: Helene Budlige

Thehindubusinessline

Thehindubusinessline · 1y ago

Numerous Swiss companies keen on investing in India: Helene Budlige

Swiss companies, including chocolate maker Barry Callebaut Group and technology group Bühler, are looking to invest in India. HESS Green Mobility plans to produce 3,000 electric buses in India by 2025, while Barry Callebaut Group aims to open its third manufacturing facility in India by 2024. Additionally, Bühler intends to invest an extra $23 million over the next two to three years. The trade pact between India and the European Free Trade Association (EFTA) further aims to enhance trade and investment between the countries.

Union minister Piyush Goyal meets UK leaders, calls it a 'fruitful exchange' to boost economic ties

Economic Times

Economic Times · 4m ago

Union minister Piyush Goyal meets UK leaders, calls it a 'fruitful exchange' to boost economic ties

Commerce and Industry Minister Piyush Goyal met with UK leaders to boost economic ties, discussing deepening cooperation. Earlier, Prime Ministers Modi and Starmer discussed trade at the G-20 Summit. India and the UK resumed trade negotiations, focusing on security, technology, climate, and more. From April to September 2024, India's exports to the UK grew by 12.38%, highlighting strong trade relationships. The UK is crucial for India's USD 1 trillion export target by 2030.

India-EU trade pact talks need political directions for meaningful deal

YourStory

YourStory · 8m ago

India-EU trade pact talks need political directions for meaningful deal

India and the European Union (EU) are in discussions for a free trade agreement (FTA), aiming for a balanced and mutually beneficial deal. The negotiations, which have gone through nine rounds of intense engagement, require political directions to reach a commercially meaningful agreement while considering each other's sensitivities. Commerce and Industry Minister Piyush Goyal emphasized the need for any sustainability discussions to account for the principle of 'Common But Differentiated Responsibility (CBDR)' and the different paths of development. The FTA with the EU would help India expand its export market and secure value chains.

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