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Free trade agreement News
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Gurmeet Singh, a farmer who shared his thoughts on the deal, said it will not only raise incomes but also help farmers move away from traditional cropping patterns towards more profitable options like horticulture and oilseed cultivation.
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As part of the landmark FTA, India will cut tariffs on 90 per cent of the UK products, while the UK will reduce duties on 99 per cent of Indian exports, significantly cutting tariff lines and regulatory processes across sectors.
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This free trade agreement (FTA) will increase annual bilateral trade by about $34 billion. Under this historic FTA, India will cut duties on 90 percent of UK products, while the UK will reduce duties on 99 percent of India's exports.
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As Prime Minister Narendra Modi prepares for a two-day visit to Britain, Vikram K. Doraiswami, High Commissioner of India to the United Kingdom, said on Tuesday that main negotiations around the India-UK Free Trade Agreement (FTA) have been concluded and some last-minute paperwork is left to be finalised for the pact.
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India is currently the 12th largest trading partner of the UK and ranks fifth in apparel and home textiles imports, with $1.4 billion worth of exports in 2024, which constitutes a 6.6 per cent share of the UK’s textile imports.
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The visit will also see her participating in the India-UK Economic and Financial Dialogue, where key issues like market access for goods and services, dispute resolution mechanisms, and financial services will be on the agenda.
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Maldives has signed Free Trade Agreement with China and Turkey which is set to result in huge losses in customs revenue for Male.
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Notably, India and the UK are negotiating a Free Trade Agreement (FTA). Talks for FTA between India and the UK started in 2022.
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The Minister's visit will be focused on the ongoing FTA negotiations between India and the UK besides discussing progress on a trade pact with ministers from the European Free Trade Association (EFTA) member countries, the commerce ministry said.
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India's exports increased to USD 4.1 billion in 2022-23 from USD 3.74 billion in 2021-22. However, imports from that country declined to about USD 2 billion against USD 3.5 billion in 2021-22. Fertiliser, crude oil, chemicals, raw cotton, and raw hides are major import items from Egypt.
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India UK Free Trade Agreement: There has been an obstruction in the free trade agreement between India and Britain. India has just stopped this talk, according to British media, Khalistan issue may be the reason.
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UK Trade Secretary to discuss 6th round of FTA today in Delhi
Secretary Kemi is the second top minister to come to Delhi
Secretary Kemi will hold a meeting with Piyush Goyal
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India and the Gulf Cooperation Council (GCC) have agreed to pursue a free trade agreement (FTA).
GCC is a union of six countries in the Gulf region -- Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain.
The council is the largest trading bloc of India.
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He informed that during the current month till January 15, exports have touched USD 16 billion.
He said this while chairing a review meeting of all major export promotion councils (EPCs) here.
The minister also assured the industry representatives to pursue their demands during the various free trade agreement (FTA) negotiations.
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India-UK formally launch trade agreement talks.
Both sides holding deliberations over an array of trade opportunities.
India seeking greater opportunities for Indians to live and work in Britain.
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India-UK formally launch trade agreement talks.
Both sides holding deliberations over an array of trade opportunities.
India seeking greater opportunities for Indians to live and work in Britain.
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Boris Johnson said, "A trade deal with India’s booming economy offers huge benefits for British businesses, workers and consumers"
"As we take our historic partnership with India to the next level, the UK’s independent trade policy is creating jobs, increasing wages...."
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Conservative MP Sir Edward Leigh asked Johnson if a relaxation of visa controls from India was in the works to secure a trade agreement.
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Asserting that he likes free trade, but wants fair trade, US President Donald Trump warned that he could impose reciprocal tariff on other countries.
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Pakistan slashed import tariffs on 6000 items. Now, there is no need for China to manufacture them in Pakistan, posing a threat to the SEZs set up along CPEC.
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