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Nasscom terms India-UK FTA landmark, welcomes removal of double contribution burden
YourStory
·
3m ago
Medial
The India-UK Free Trade Agreement (FTA) is hailed as a landmark by the Indian tech industry. It eliminates double contribution burdens, enhancing trade in services and cross-border innovation. The FTA facilitates collaboration in AI, cybersecurity, and digital transformation, boosting opportunities for startups and skilled professionals. The agreement strengthens India's role as a global services provider and promotes Indian talent in the UK. NASSCOM pledges to leverage the FTA to bolster bilateral trade and innovation.
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UK-India Week hears how FTA concluded over ice creams in London's Hyde Park
Economic Times
·
2m ago
Medial
India and the UK concluded a landmark Free Trade Agreement (FTA) during a walk in London's Hyde Park, where Indian Commerce Minister Piyush Goyal was treated to ice cream by his UK counterpart, Jonathan Reynolds. The FTA, expected to double bilateral trade to USD 120 billion by 2030, ensures stable tariff rates and encourages investment and collaboration. Goyal emphasized the FTA’s benefits and addressed misconceptions about temporary workers related to social security taxes.
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BP India Chief: India-UK free trade agreement to boost energy cooperation, investments
Economic Times
·
1m ago
Medial
The newly signed India-UK Free Trade Agreement (FTA) is expected to boost energy cooperation and investments, particularly in renewables. This landmark deal, signed during Prime Minister Narendra Modi's UK visit, aims to significantly enhance trade between the two nations by eliminating tariffs on various goods. The FTA will enable seamless flows of talent and expertise, with India benefiting from zero duties on 99% of its exports to the UK, while Britain will enjoy substantial tariff reductions on its exports to India.
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India–UK FTA paves way for £25.5 bn trade boost: SBI report
Business Today
·
3m ago
Medial
India and the UK have reached a landmark Free Trade Agreement (FTA) after about three years of negotiations. This agreement reduces tariffs on 90% of goods, significantly impacting bilateral ties in the post-Brexit and post-globalisation context. The FTA is noteworthy as it involves two of the world's largest economies and occurs amidst a challenging global trade environment influenced by previous tariff decisions by the US.
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India, US BTA not signed yet, 5 rounds of talks held: Govt to Parliament
Economic Times
·
1m 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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India, UK FTA to benefit textiles, leather, pharma, engineering goods exports: FIEO
Economic Times
·
1m ago
Medial
The proposed India-UK free trade agreement (FTA) is anticipated to benefit sectors like textiles, apparel, leather, pharmaceuticals, and engineering goods, according to the Federation of Indian Export Organisations (FIEO). Expected to finalize during Prime Minister Narendra Modi's UK visit, the agreement could double bilateral trade by 2030, enhance job creation, and boost investment flows. Benefits include tariff eliminations and streamlined pharmaceutical approvals, while it may open opportunities for Indian IT and professional services.
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India–UK FTA: PM Modi announces historic trade deal with major tariff eliminations in many sectors; check details
Business Today
·
3m ago
Medial
Prime Minister Narendra Modi announced a historic Free Trade Agreement (FTA) between India and the UK, enhancing economic partnership through significant tariff reductions. Key features include zero-duty access for many Indian exports to the UK and the reduction of tariffs on UK whisky, gin, and automobiles imported to India. This FTA aims to boost India's export competitiveness while presenting challenges to Indian liquor companies due to increased competition in the premium segment.
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Will India escape the UK's carbon border tax? There's reason for optimism
Livemint
·
28d ago
Medial
Though the India-UK Free Trade Agreement (FTA) doesn’t mention the UK's Carbon Border Adjustment Mechanism (CBAM), it has been agreed that the tax won’t apply to India. This understanding exists outside the FTA, reflecting mutual recognition of concerns. However, if the UK proceeds with implementing the tax, India might take counter-measures. This decision is seen as addressing concerns over CBAM being a disguised trade barrier affecting developing nations like India.
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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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India-UK FTA signed: Whisky, EVs, cosmetics and jewellery to get cheaper — Here’s what each side gets
Economic Times
·
1m ago
Medial
India and the UK have signed a Free Trade Agreement (FTA) promising duty-free access for 99% of Indian exports, including engineering goods, chemicals, and pharmaceuticals. Indian consumers will benefit from reduced tariffs on UK imports like Scotch whisky and electric vehicles. The FTA aims to boost bilateral trade by $34 billion, fostering economic cooperation with tariff cuts, enhanced mobility for professionals, and expanded market access. Additionally, the UK secures access to India's government procurement market.
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India, UK to resume talks on proposed trade agreement from Feb 24
YourStory
·
6m ago
Medial
India and the UK are set to resume free trade agreement (FTA) negotiations after an eight-month hiatus. Talks, starting February 24, aim to bridge gaps and finalize the deal. The FTA, launched in January 2022, seeks to boost bilateral trade by reducing customs duties and easing service and investment norms. Key issues include market access for Indian professionals and goods, while the UK seeks reduced tariffs on items like scotch whiskey and enhanced service opportunities.
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