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News on Medial
India, Oman free trade agreement likely to be announced soon: Official
Economic Times
·
1d ago
Medial
India and Oman are nearing the announcement of a free trade agreement, with text currently being translated into Arabic. Approval from both countries' cabinets will follow. Initiated in November 2023, this Comprehensive Economic Partnership Agreement aims to reduce customs duties and promote trade. Oman is India's third-largest export destination within the Gulf Cooperation Council, with bilateral trade over USD 10 billion. Major Indian imports include petroleum products, urea, and chemicals.
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India-US trade pact talks gain momentum, says Goyal
Economic Times
·
15d ago
Medial
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.
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India-UK partnership set to focus on AI, semiconductors, and critical minerals
Livemint
·
1y ago
Medial
India and the UK have announced a groundbreaking technology security initiative during the UK Foreign Secretary's visit to India. The agreement focuses on collaboration in areas such as AI, semiconductors, telecommunications, and essential minerals. It also aims to strengthen partnerships in climate action, trade, technology, and education. Both countries also pledged to enhance defense and security cooperation in the Indo-Pacific region. The UK's Labour Party, which recently won elections, aims to reset UK-India relations, including resuming negotiations on a free trade agreement. The trade agreement aims to double bilateral trade by 2030.
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India-EFTA trade pact to be implemented from Oct 1: Goyal
Economic Times
·
22d ago
Medial
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-US to start discussions on proposed trade deal soon
Business Today
·
5m ago
Medial
India and the US are set to begin discussions on a proposed bilateral trade agreement soon. This initiative aims to enhance trade relations between the two countries. Additionally, negotiations for free trade agreements with the UK and the EU are scheduled to advance this month. The Indian government remains optimistic about these efforts, anticipating a boost in trade with its international partners through the successful conclusion of these agreements.
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Switzerland greenlights India-EFTA mega trade pact; sets stage for October rollout
Economic Times
·
1m ago
Medial
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.
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Delighted to seal historic India-UK trade deal with UK PM Starmer: PM Modi
Business Today
·
3m ago
Medial
PM Modi expressed his delight in concluding a historic Free Trade Agreement with UK PM Keir Starmer. Along with a Double Contribution Convention, these agreements aim to enhance the Comprehensive Strategic Partnership between India and the UK. The deals are expected to boost trade, investment, growth, job creation, and innovation, further strengthening the economic ties between the two nations. PM Modi looks forward to welcoming PM Starmer to India soon.
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Minister Piyush Goyal ask exporters to move away from a "protectionist mindset" amid buzz on reciprocating tariffs
Business Today
·
4m ago
Medial
India is actively negotiating Free Trade Agreements (FTAs) with several countries and regions, including the United Kingdom, European Union, and Oman. These discussions aim to enhance trade relations and economic cooperation. The focus on FTAs indicates India's commitment to boosting exports and diversifying trade partnerships by establishing agreements that benefit mutual trade and investment. This strategy is part of broader efforts to integrate with the global economy and reduce trade barriers.
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'Cutting red tape in India key to Swiss investments': Helene Budliger Artieda
Economic Times
·
2m ago
Medial
Switzerland's state secretary for economic affairs, Helene Budliger Artieda, emphasized the importance of reducing red tape in India to attract Swiss investments. Despite the suspension of the most favored nation clause by Switzerland, the existing Double Taxation Avoidance Agreement (DTAA) remains valid, ensuring no issues between the nations. She mentioned the recently signed free trade agreement between India and the European Free Trade Association, highlighting its role in boosting exports of Swiss products to India.
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Will only sign mutually beneficial pact, won't sign any deal under deadline: Piyush Goyal on India-US trade deal
Economic Times
·
1m ago
Medial
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.
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India, US BTA not signed yet, 5 rounds of talks held: Govt to Parliament
Economic Times
·
19d ago
Medial
India and the US are negotiating a Bilateral Trade Agreement (BTA) but it is yet to be signed despite five rounds of discussions. The latest round took place from July 14-18 in Washington. Meanwhile, India’s Free Trade Agreement (FTA) with the UK is a landmark deal that enhances market access across sectors, benefiting Indian exports and services. Talks with the EU continue, with 12 rounds completed, emphasizing economic integration and regulatory transparency.
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