TRADE PACT JAPAN
India’s FTAs to open access to $85 trillion market; Piyush Goyal urges exporters to go global
India's trade agreements are expected to provide exporters preferential access to markets with a combined GDP of $85 trillion, covering 76% of the global economy, Commerce Minister Piyush Goyal said. He urged businesses to expand internationally, improve product quality and build global brands as India pursues additional trade pacts.
US trade deal will protect all sensitive Indian interests, says Piyush Goyal
Commerce Minister Piyush Goyal said India’s trade deal with the US would protect sensitive interests, including those of farmers, and give the country a competitive advantage. He criticised opposition parties for questioning the agreement before its details were released, while defending India’s trade strategy and its decision to stay out of RCEP.
From rocks to riches: India’s unfinished critical minerals story
India's manufacturing industry is significantly affected by its heavy reliance on imported critical minerals like lithium and cobalt. The recent supply disruptions from China have highlighted weaknesses in India's domestic capacity for refining these minerals. Efforts to enhance mineral processing and create integrated production facilities are underway to reduce import dependence.
Iran steps up economic, connectivity push with Afghanistan
Iran is stepping up economic and connectivity cooperation with Afghanistan as ties between Kabul and Islamabad deteriorate. Iran’s energy minister is in Kabul for talks on water and energy, while Tehran is exploring railway connectivity linking western and northern Afghanistan. A 180-member Iranian trade delegation is also attending an Afghan exhibition.
Saudi, UAE join Japan-led push to bolster Asian oil buffers
Saudi Arabia and the United Arab Emirates are joining Japan's efforts to strengthen oil supply security in Southeast Asia. This collaboration comes in response to supply disruptions caused by ongoing conflicts in the Middle East. Japan has committed $10 billion to assist Southeast Asian nations in coping with rising crude prices. The new framework aims to improve oil stockpiling capacity among participating countries for better energy security.
India goes FTA shopping at G20 as Piyush Goyal works the room with a cart full of trade deals
India's Commerce Minister Piyush Goyal is actively engaged in negotiations for several trade agreements at the G20 meeting. Talks with the US include an interim pact and finalizing issues for a broader agreement. Discussions with Canada aim to conclude a Comprehensive Economic Partnership Agreement by the end of 2026. Existing trade agreements with the UK and Australia are also under review for their implementation and effectiveness.
- Go To Page 1
US exempts India and 19 nations from 100% tariff on certain speciality drugs: Report
The United States has announced it will exempt certain speciality drugs and ingredients imported from India and 19 other countries from tariffs. This decision follows US President Donald Trump's proclamation imposing a 100% tariff on specified patented pharmaceuticals. Drugs intended for rare diseases and infertility, along with their components, will qualify for the zero-tariff treatment. The exemption applies to 20 other jurisdictions that have trade agreements with the US.
Envoys of six nations including Finland, EU present credentials to President Murmu
Jean-Eric Paquet, the new European Union Ambassador to India, presented his Letters of Credence to President Droupadi Murmu. The ceremony marks a significant step in the evolving EU-India strategic partnership, focusing on trade and security. Key initiatives include negotiations on a Free Trade Agreement and a Security and Defence Partnership. Both sides aim to enhance cooperation in technology, investment, and sustainable development.
India-EU FTA: EU gets tariff quota for 1 lakh cars initially, rising to 1.6 lakh
The India-EU free trade agreement will allow European automakers to export 1 lakh passenger vehicles annually at concessional duties initially, rising to 1.6 lakh from the 10th year. The pact also offers tariff concessions on electric vehicles, wines, pork, apples, kiwifruit, pears and peaches through quotas and price-based conditions.
India-US trade deal hinges on preferential tariff advantage over rivals, says Goyal
India is set to wrap up its trade negotiations with the United States shortly. A crucial aspect of this deal includes securing preferential tariffs to outperform its rivals. The minister emphasized that the accord will not undermine any Indian sensitivities. Meanwhile, India is also engaging in discussions for trade agreements with multiple countries to boost the international availability of Indian products.
India’s in-demand economic weapon can turn a global crisis into opportunity
India is expanding its network of labour agreements with countries around the world to connect Indian workers with job opportunities abroad. The push comes as ageing populations and shrinking workforces drive demand for talent across several countries. These agreements can facilitate the movement of workers while boosting remittance inflows to India. Ensuring the recognition of qualifications and portability of social security benefits will remain crucial to making these partnerships effective.
Trump aims at Canada. Toyota and Honda could pay the bill
Proposed US tariffs could significantly impact Canadian auto production lines. Japanese automakers Toyota and Honda face potential production cuts due to these tariffs. These companies rely heavily on the United States as their largest market. The tariffs may force a major shift in global automotive supply chains. Automakers are now adapting to changing trade policies and competition.
Tremendous scope to improve processes, procedures to help faster flow of FDI, says Piyush Goyal
India is streamlining foreign direct investment processes and norms. The government seeks industry ideas to improve the investment regime further. Discussions are ongoing regarding trade pacts with several countries and blocs. Efforts focus on promoting end-to-end manufacturing and self-reliance in key sectors. Production-linked incentives will be considered for sectors facing cost disadvantages.
Piyush Goyal says India open to expanding scope of Japan trade agreement
India is open to expanding its economic partnership agreement with Japan. The nation seeks to make the existing pact more contemporary and relevant. Japanese textile firms, including Uniqlo, plan increased sourcing and investment in India. Significant Japanese investment is already flowing into India at a rapid pace. India aims to support Japan's ambition to double its companies operating locally.
Hoping to work towards further expanding scope of India-Japan trade pact: Piyush Goyal
India and Japan are actively reassessing their trade agreement, with the goal of broadening its reach. Both countries are looking to create fresh avenues for enhancing their bilateral ties. Ongoing talks aim to modernize the deal, addressing specific challenges faced by Indian exporters in Japan while simultaneously bolstering their strategic alliance through significant investment initiatives.
India-Japan trade could scale to USD 50 bn by 2030 as exports diversify: ASSOCHAM
India-Japan bilateral trade has the potential to rise to USD 50 billion by 2030 from USD 27.47 billion in 2025-26, with greater export diversification, an upgraded trade pact and deeper business engagement key to achieving the target, industry body ASSOCHAM said in a report.
Piyush Goyal to visit US in September for G20 trade meet, talks with USTR Greer
Commerce Minister Piyush Goyal will visit the US in late September for important trade discussions. He will attend the G20 Trade Ministerial and meet with USTR Jamieson Greer. Trade pact issues and boosting two-way commerce will be key discussion points. India seeks a comparative advantage for its goods in the US market. This visit is crucial for ongoing bilateral trade agreement negotiations.
Commerce minister Piyush Goyal asks Japanese companies to deepen localisation in India
Commerce and Industry Minister Piyush Goyal has urged Japanese auto and capital goods companies to increase localisation, set up R&D and Global Capability Centres (GCCs), and build new manufacturing capacity in India to use the country as a base for global exports.
India negotiating FTAs with 8-9 more blocs, aims to cover 75% of global trade: Piyush Goyal
India is actively pursuing free trade agreements with various nations, aiming to cover about 75% percent of the global trade landscape, Trade Minister Piyush Goyal said. With existing arrangements already covering an astounding $70 tn of the global economy, this expansion enhances India’s reputation as a reliable player in international value chains. Moreover, there are significant investment opportunities in cutting-edge fields like data centers and artificial intelligence.
Trump signs order to lower US tariffs on Japan autos to 15%
Donald Trump, the US President, signed an order. This order lowers tariffs on Japanese autos. Japanese autos will now face a 15-percent tariff. Earlier, it was 27.5 percent. Many other goods will also have a 15-percent cap. This is a win for Japan. The changes apply retroactively to goods shipped from August 7.
India unlikely to upgrade free trade pact with South Korea
South Korea wants a speeding up of the duty reduction schedule for machinery, plastics and chemicals to nil by 2015 instead of 2018, as per the pact.
India to sign free trade pact with Japan on Feb 16
India will sign a comprehensive market opening trade pact with Japan on February 16 that would enable both the countries to reduce or eliminate duties on most of the goods and services.
Japan, India to sign free trade agreement
Japan says it plans to sign a free trade pact with India that will scrap tariffs on 94 percent of traded goods.
Japan ratifies free trade pact with ASEAN
Japan ratified a free trade accord with the Association of Southeast Asian Nations on Saturday as the country's divided parliament ended its session.
India, Japan differ on safeguards in trade pact
As Japanese trade minister Akira Amari begins his India visit tomorrow, official-level talks on a free trade agreement last week ended with wide differences.
Japan trade pact runs into PC firewall
The big-ticket comprehensive economic partnership agreement (CEPA) with Japan, expected to provide a major boost to trade and investment, has hit a roadblock with the finance ministry opposing any cut in tariffs.
India, Japan move closer to trade pact
India and Japan have decided to set up four working groups in goods, services, investment and bilateral cooperation to take forward negotiations on the proposed bilateral comprehensive economic partnership agreement (CEPA).
Load More
