COMPREHENSIVE ECONOMIC PARTNERSHIP AGREEMENT
US & India can achieve headway in defence, technologies & economic prosperity in Modi 3.0: Garcetti
US Envoy Eric Garcetti highlights Modi 3.0 as an opportunity for "ambitious India" and "ambitious America" to achieve progress in defense partnerships, critical technologies, and economic prosperity. Congratulating PM Modi on his third term, Garcetti emphasizes enhancing bilateral relations to benefit global democracies and the Indo-Pacific. Reflecting on past achievements, including over 150 agreements, Garcetti underscores resilience during elections, affirming continuous US-India collaboration. He praises India's development and global role, citing advancements in healthcare and global security efforts, and celebrates the country's transformative journey towards prosperity and international influence.
Discussions on for comprehensive free trade agreement with India: Australian diplomat
Nicholas McCaffrey aims to enhance the scope and impact of the existing trade agreement between India and Australia, working towards formulating a comprehensive free trade agreement to strengthen economic relations between the two nations.
EAM Jaishankar reviews 'multi-faceted' comprehensive strategic partnership with UAE counterpart
External Affairs Minister S Jaishankar met with his UAE counterpart Abdullah bin Zayed Al Nahyan to discuss enhancing collaboration in various areas of the India-UAE comprehensive strategic partnership, including commercial, economic, fintech, education, and culture. They also exchanged views on regional and global issues, visited the BAPS Hindu Mandir, and participated in International Yoga Day celebrations. Jaishankar emphasized the importance of the India-UAE relationship and their ongoing cooperation.
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
India and Korea are progressing with talks to upgrade their existing free trade agreement (FTA), known as the Comprehensive Economic Partnership Agreement (CEPA). The Department of Commerce is collaborating with various ministries such as heavy industries, steel, and chemicals to prepare the offer list for the negotiations.
EAM Jaishankar visiting UAE on Sunday
External Affairs Minister S Jaishankar is in the UAE to discuss bilateral issues and the situation in Gaza with his counterpart Abdullah bin Zayed Al Nahyan. The visit follows Prime Minister Narendra Modi's landmark visit in 2015. Both countries signed a comprehensive economic partnership agreement (CEPA) in February 2022. The UAE hosts a 3.5 million strong and vibrant Indian community.
India, Bangladesh agree to start talks on comprehensive trade pact
India and Bangladesh have agreed to begin negotiations on a comprehensive economic partnership agreement, as Prime Minister Narendra Modi announced after talks with Bangladeshi PM Sheikh Hasina. Modi emphasized that Bangladesh is India's largest development partner and that New Delhi gives top priority to their relationship. The leaders also discussed enhancing defense cooperation, including defense production and modernization, and signed agreements in areas such as the digital domain, maritime sphere, and railway connectivity.
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Russia and North Korea sign partnership deal that appears to be the strongest since the Cold War
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed an agreement pledging mutual aid against "aggression," signaling stronger ties amid their standoffs with the West. The summit marked Putin's first visit to North Korea in 24 years and raised concerns over potential arms deals for Russia's war in Ukraine. The agreement enhances security, trade, and cultural ties. U.S. and South Korean officials expressed alarm, and Putin’s subsequent visit to Vietnam underscores Russia’s efforts to bolster alliances amid global tensions.
Russian President Vladimir Putin arrives in Vietnam on state visit
Russian President Vladimir Putin arrived in Vietnam on a state visit after concluding his trip to North Korea. He was welcomed at Hanoi's Noi Bai Airport by Vietnamese officials, including Deputy Prime Minister Tran Hong Ha. During his visit, Putin will meet with Vietnam's President and other top leaders. In North Korea, Putin and Kim Jong Un signed a comprehensive partnership agreement, marking a significant elevation in bilateral ties and committing to mutual assistance. The visit featured grand celebrations and gift exchanges.
Putin says Russia and North Korea have vowed to aid each other if attacked in new partnership deal
Putin's first visit to North Korea in 24 years comes amid growing concerns over an arms arrangement in which the country provides Moscow with badly needed munitions for its war in Ukraine in exchange for economic assistance and technology transfers that could enhance the threat posed by Kim's nuclear weapons and missile program.
Gold, silver import surges 210 pc in 2023-24 from UAE; need duty revision in FTA: GTRI
Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
US and India strengthen military ties, eye deeper collaboration
Top American and Indian defense officials have highlighted the growing importance of the US-India military partnership, especially in the Indo-Pacific region. At the 'Partners in Progress' symposium in Bengaluru, Rear Admiral Nirbhay Bapna of the Indian Navy praised the comprehensive strategic partnership between the two nations. He emphasized their joint commitment to ensuring peace and prosperity in the Indo-Pacific through enhanced information sharing and maritime awareness. US Defense Attaché to India Rear Admiral Michael Baker also stressed the significant role of the US-India defense partnership in global peace and security.
Italy could play significant role in boosting India's advanced manufacturing capacity: Vincenzo de Luca
Italy's outgoing Ambassador to India highlights the crucial role of collaboration with India in advanced manufacturing to boost India's manufacturing capacity. Bilateral trade between Italy and India has seen significant growth, with a focus on machinery, automotive products, and luxury goods from Italy, and aluminium, steel, and iron from India.
View: Tackling FTA attractions
India has resumed free trade negotiations with trading partners after withdrawing from the Regional Comprehensive Economic Partnership (RCEP) negotiations in 2019. The process has been restarted with the signing of India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) in March 2021, followed by India-UAE Comprehensive Economic Partnership Agreement (CEPA), India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, and India-European Free Trade Association (EFTA) pact in February this year.
UAE looking to expand scope of trade under CEPA with India: Official
The UAE aims to expand the Comprehensive Economic Partnership Agreement (CEPA) with India, signed on February 18, 2022, to enhance bilateral trade. Feryal Ahmadi, COO of Dubai Multi-Commodities Centre, highlighted potential sectors like agri-commodities and critical minerals. She emphasized India's significance as a trading partner and discussed the growth in UAE-India CEPA trade.
Singapore and Kazakhstan plan Eurasia to ASEAN trade & transit corridor
Singapore and Kazakhstan strengthen economic ties, enhancing India's role as a link between Southeast Asia and Eurasia. Kazakhstan's transport initiatives and Singapore's expertise create new business opportunities. The countries sign agreements to boost trade and investment, with Singapore investing in Kazakhstan's economy. Cooperation focuses on innovation and digitalization for mutual benefit.
Hope India-UK FTA not far away, says incoming FICCI UK Council chair
Priya Guha, the new chair of FICCI UK Council, and Baroness Usha Prashar discuss the India-UK Free Trade Agreement, emphasizing research, innovation, and cultural ties for a stronger bilateral partnership.
Commerce ministry's draft strategy to negotiate future FTAs to be circulated among key departments soon
The commerce ministry has developed a draft comprehensive strategy for future Free Trade Agreements (FTAs). The draft will reviewed by key departments, aiming to streamline negotiation processes with India's trading partners. The strategy, presented during a recent meeting involving trade experts, aims to ensure thorough analysis, background work, and systematic reporting throughout negotiation phases. Discussions at a recent 'Chintan Shivir' in Rajasthan also covered topics like India's trade strategy, including new issues like labour and environment in FTAs.
Comm Min holds discussions on formulating SOPs to negotiate FTAs
The commerce ministry discussed formulating SOPs for negotiating FTAs during a Chintan Shivir, engaging with trade partners like the UK, EU, Peru, Australia, and the Eurasian Economic Union. The discussions included India's trade strategy, vision 2047, and new disciplines like labour and environment.
India, UK review implementation of 10-year roadmap
Foreign Secretary Vinay Kwatra reviewed the India-UK 'Roadmap 2030' in London, enhancing bilateral cooperation in trade, defence, security, science, and people-to-people exchanges. Meetings were held with Minister of State Lord Tariq Ahmad, MoS for Defence Procurement James Cartlidge, and NSA Sir Tim Barrow.
Plan to put in place SOP for negotiations on trade pacts
India plans to establish an SOP for negotiating FTAs, addressing labor, environment, gender, and indigenous peoples. The Chintan Shivir will discuss strategies for FTAs, including the Carbon Border Adjustment Mechanism and critical minerals.
Do international employees still have to make EPF contributions after Karnataka High Court ruling?
Karnataka High Court's April 25, 2024 ruling deemed special provisions for International Workers under EPF Scheme unconstitutional, affecting EPF contributions, retirement age eligibility, and equality before law for these workers.
India-UAE CEPA celebrates two years marked by robust growth in bilateral trade
Implemented on 1 May 2022, the UAE-India CEPA offers numerous trade benefits, including the elimination and reduction of tariffs, an open trade environment, and enhanced market access for service providers across various sectors. It also addresses technical barriers and provides access to government procurement opportunities.
India, UAE discuss ways to deepen Comprehensive Strategic Partnership
Foreign Secretary Vinay Kwatra met with UAE's Minister of State for International Cooperation Reem Ebrahim Al Hashimy in New Delhi to enhance the Comprehensive Strategic Partnership. The officials discussed strengthening bilateral relations. The recent inauguration of the first Hindu Temple in Abu Dhabi and the signing of a Comprehensive Economic Partnership Agreement were also highlighted.
"India will be world's premier manufacturing, service hub": Swiss Secretary lauds India-EFTA Trade Economic Partnership Agreement
Swiss State Secretary lauds the USD 100-billion free trade pact between India and EFTA. India will be the premier manufacturing and service hub. Swiss market is open for Indian goods. Switzerland plans to invest 100 billion USD in India.
India-Australia partnership expansion: CECA in focus
One of the critical issues discussed at these events was the bilateral economic and strategic relations between the two countries, in particular the proposed Comprehensive Economic Cooperation Agreement (CECA). “We need to strengthen collaboration and invite sectoral insights to inform the negotiators going forward”, said Dipen Rughani, head of Newland Group. one of the three organisers of an event at the Consulate General of India in Sydney on February 2.
Modi’s agenda in UAE: World Government summit, mega diaspora meet and temple inauguration
Modi’s upcoming visit to the UAE will be his seventh since 2014. Previously, he visited the country twice in 2023, once each in 2022, 2019, 2018, and 2015. He has met the UAE President four times since last July signifying strong chemistry and momentum in ties. The two sides have been in regular touch over the current West Asian crisis. The UAE leader was the star attraction at this year’s Vibrant Gujarat summit.
Indian Chamber of Commerce appoints Sharad Bhandari as UAE chief representative
The Indian Chamber of Commerce (ICC) has appointed Finance professional Sharad Bhandari as its Chief Representative for the United Arab Emirates (UAE), in a bid to enhance economic ties. With an impressive career spanning over 40 years, Bhandari brings extensive expertise in advising businesses in the UAE, Middle East, and the UK. As the Managing Partner of ARDENT Advisory & Accounting, he has advised leading corporations.
Next round of India-Oman FTA talks from Jan 16; negotiations progressing well: Official
The next round of talks for the proposed free trade agreement between India and Oman is set to begin on January 16, with the negotiations progressing well. The Comprehensive Economic Partnership Agreement (CEPA) is the third largest export destination for India, with bilateral trade reaching USD 12.39 billion in 2022-23.
Duty concessions on petrochemical products a sticking point in India-Oman FTA talks
The proposed free-trade agreement (FTA), Comprehensive Economic Partnership Agreement (CEPA), between India and Oman faces potential challenges due to demands for customs duty concessions on petrochemical products like polypropylene and polyethylene. Certain domestic players oppose these duty concessions, citing Oman's significant subsidies on raw materials for petrochemical production.
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