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India's billion-dollar trade deal may be the real show this Republic Day

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[ad_1] India’s Republic Day parade will have more than ceremonial shine this year, as the spotlight shifts from pageantry to policy, setting the stage for what is being touted as the “mother of all trade deals” between India and the European Union (EU) after nearly two decades of negotiations.India and the 27-nation European bloc will announce the conclusion of negotiations for the much-anticipated free trade agreement (FTA) at a landmark Summit in the capital on January 27 as New Delhi prepares to host the EU’s top leadership for 77th Republic Day celebrations. Both sides are also set to sign a security and defence partnership agreement to add momentum to the strong political ties, people in the know told ET Bureau.ALSO READ: Mother of all trade deals is loading: What it means for IndiaUnderscoring the deepening engagement, a small military contingent from the European Union will participate in the Republic Day parade on January 26, marking the first time an EU force will take ...
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India-Europe ‘mother of all deals’ within reach as EU chief Ursula von der Leyen hints at breakthrough

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[ad_1] The European Union and India are moving closer to concluding a long-pending free trade agreement, with negotiations entering what EU leaders describe as a decisive phase, even as a few procedural steps remain.European Commission President Ursula von der Leyen said at the World Economic Forum in Davos on Tuesday that talks with India were nearing a breakthrough. “There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of 2 billion people, accounting for almost a quarter of global GDP,” she said, outlining the EU’s push to diversify and deepen its global trade partnerships.Also Read: A trade deal India pursued for 18 years is now within reach but risks remainLinking trade momentum with diplomatic engagement, von der Leyen said she would travel to India next weekend after the Davos meeting. The visit, she noted, is aimed at advancing the proposed agreement and strengthening broader ...
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Reduce customs duty slabs in Budget 2026: GTRI

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[ad_1] New Delhi: India needs to simplify its customs duty structure by cutting the actual number of duty slabs, instead of only tweaking the basic customs duty (BCD) rates, to promote ease of doing business, think tank GTRI said on Tuesday.In its pre-Budget suggestions, the Global Trade Research Initiative (GTRI) said that while the last Budget reduced the number of ad valorem BCD rates to eight, this reform excluded the large number of specific duties, mixed duties, and conditional rates, which continue to create hundreds of effective tariff slabs in practice.Also read: A seat at Trump’s Gaza peace table could test India’s 'reputation and credibility': GTRIFurther, part of the BCD was shifted to the Agriculture Infrastructure and Development Cess (AIDC) to show a lower slab count on paper while keeping the total import duty unchanged, undermining the stated reform objective, the think tank said.Since importers also pay AIDC, Social Welfare Surcharge, and health cesses,...
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india eu free trade agreement: “Mother of all trade deals” with India coming soon: EU’s Ursula von der Leyen at WEF - The Economic Times Video

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[ad_1] India and the European Union are closing in on a long-pending free trade agreement as negotiations enter a decisive phase. Speaking at the World Economic Forum in Davos, EU Commission President Ursula von der Leyen called it the “mother of all deals,” ahead of high-level visits, Republic Day participation and the India-EU Summit. Show more Show less [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/india-eu-free-trade-agreement-mother-of-all-trade-deals-with-india-coming-soon-eus-ursula-von-der-leyen-at-wef-the-economic-times-video/?feed_id=4018&_unique_id=69798cd46979c
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India FTA to create market of 2 billion people: EU chief Ursula von der Leyen

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[ad_1] Davos: The European Union is close to finalising a free trade agreement (FTA) with India, although some steps are still pending to complete the deal, European Commission President Ursula von der Leyen said on Tuesday."There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the 'mother of all deals', one that would create a market of two billion people, accounting for almost a quarter of global GDP," she said, addressing a gathering at the World Economic Forum (WEF) here.Diversifying trade tiesThe EU chief was elaborating on the 27-nation European bloc's efforts to broaden and diversify its trade partnerships. She will travel to India next weekend after the conclusion of the WEF to advance the ongoing efforts to conclude the FTA.There is important work to be done to strengthen economic ties and deepen cooperation between Europe and India, von der Leyen said.Live EventsTerming the agreement with India as part of Eu...
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Road map in works for $100 billion textile and apparel exports by 2030

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[ad_1] To attain its ambitious goal of textile and apparel exports worth $100 billion by 2030 from about $40 billion at present, India aims to double textile shipments to FTA partners, focus on traditional and high-value segments such as Geographical Indication products, carpets, handlooms and silk items, as well as develop non-exporting districts into exporting ones, officials said.The ministry of textiles is preparing a roadmap to grow the nation's share of these exports to around 12% from the current 5.8% to its free trade agreement (FTA) partners, besides enhanced targeted branding of high-value products, they added.The ministry is also working on a diversification-driven strategy by doubling India's share in the imports of top 40 countries to 10% at $55-60 billion from 4.8%, or $28.3 billion, at present. Traditional markets like the United States, European Union, and United Kingdom together account for about 55% of India's exports, while emerging destinations su...
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India fertiliser imports on track to hit all-time high of $18 billion this fiscal year

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[ad_1] Mumbai: India's fertiliser imports for the current ‍fiscal year are expected to surge ​76% from a year earlier to a record $18 billion, government ⁠and industry officials said on Wednesday as consumption jumped after heavy rains prompted farmers to expand their crop areas."There has been a sharp rise in urea and DAP (Diammonium Phosphate) imports this year, ‌which is pushing ‌up the overall fertiliser import bill," said a government official, who declined to be named because they were ‌not authorised to speak publicly.In the first nine months of the fiscal year that ends in March, India's fertiliser imports surged 71% from a year earlier to $13.98 billion.In the March quarter, a large volume of urea and other fertiliser shipments is expected to land, ​which will cost at least another $4 billion, the official ​said.India spent $10.23 billion on fertiliser imports in the last fiscal year after ‌hitting an ‍all-time high of $17.21 billion in 2022-2023 when ...
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