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Indian Express
15-07-2025
- Business
- Indian Express
India, EU close 7 out of 23 chapters in trade deal; last round to take place in September
As trade negotiations pick up pace amid US tariff threats, India and the EU have managed to close two more chapters in the latest round of talks and narrow gaps in services, a government official said on Tuesday. The two sides have now agreed on seven out of 23 chapters in the ongoing negotiations for what could be the largest trade agreement India has ever entered into. Satya Srinivas, special secretary in the Department of Commerce, said the last (12th) round of talks concluded last week in Brussels. 'We have exchanged our offers on services and non-services… there were discussions on that. We also discussed key interests in market access related to goods as well… The next round of talks (will be held) in the first week of September,' Srinivas said. However, the Carbon Border Adjustment Mechanism (CBAM) is not part of the EU trade negotiations, Hervé Delphin, EU Ambassador to India, told The Indian Express last month. 'I have come to discover that CBAM is one of the best-known acronyms in India. First, CBAM is not a trade measure. It is not part of trade and the FTA. It's about compliance with our climate agenda to accelerate decarbonisation,' he said. On February 28, Prime Minister Narendra Modi and the European Commission President agreed to seal an FTA deal by year-end. Special Secretary in the Department of Commerce Rajesh Agrawal said that the 10th and 11th rounds of talks are likely to be held in August here and in October in Malaysia. 'We are engaged in the negotiations. Nine rounds of talks have been concluded so far… The progress so far has been chequered — not what it could have been — but the good part is that we are moving forward on many aspects, especially on customs and trade facilitation,' Agrawal said. Further, he said talks are also progressing on issues like technical cooperation, SPS (sanitary and phytosanitary) and TBT (technical barriers to trade) collaborations. 'We hope there is going to be one physical round in August and… another in October in Malaysia. So we hope that in these two rounds, we should be able to make good progress and try to have some kind of conclusion when the ASEAN-India Summit takes place at the end of October. The endeavour is in that direction. Let's see how much we can achieve,' he said. The review of the agreement is a long-standing demand of domestic industry, and India is looking forward to an upgraded pact that will address the current asymmetries in bilateral trade and make trade more balanced and sustainable. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Time of India
15-07-2025
- Business
- Time of India
India expecting some kind of conclusion on trade pact review with Asean: Official
India aims to finalize the review of its free trade agreement with the 10-nation ASEAN bloc before the ASEAN-India Summit in October. Negotiations are underway, with the 10th and 11th rounds of talks scheduled for August and October. India seeks an upgraded pact to address trade imbalances, as its imports from ASEAN significantly exceed exports. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India is expecting to reach some kind of conclusion on the review negotiations of the existing free trade agreement in goods with the 10-nation Asean bloc before the Asean-India Summit, scheduled for October, a government official said on Secretary in the Department of Commerce Rajesh Agrawal said that the 10th and 11th rounds of talks between the two sides are likely in August in the national capital and in October in Malaysia."We are engaged in the negotiations. Nine rounds of talks have been concluded so progress so far has been chequered, it is not (what we could have been) like, but the good part is that we are moving on many aspects, especially on customs and trade facilitation," Agrawal told reporters he said talks are also moving on issues like technical cooperation, SPS (sanitary and phyto-sanitary) and TBT (technical barriers to trade) collaborations."We hope there is going to be one physical round in August in October in Malaysia. So we hope that in these two rounds, we should be able to make good progress and try to have some kind of conclusion when the Asean-India Summit takes place in October-end. The endeavour is towards that direction. Let's see how much we can achieve," he review of the agreement is a long-standing demand of the domestic industry, and India is looking forward to an upgraded pact, which will address the current asymmetries in bilateral trade and make trade more balanced and the implementation of the agreement, India's exports stood at only about USD 38-39 billion annually, while imports from the 10-nation Asean bloc jumped to USD 86 countries have opened less number of tariff lines or product categories for India. India has offered duty concessions on over 71 per cent of the tariff lines to Asean members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and has opened 41 per cent of its tariff lines, Vietnam 66.5 per cent and Thailand 67 per cent.A free trade agreement in goods between India and the 10-nation bloc Asean (Association of Southeast Asian Nations) was signed in Asean trade deal came into force in January 2010. In August 2023, both sides announced a complete review of the existing agreement in goods by as a group is one of India's major trade partners with about an 11 per cent share in the country's global is asking for a review to eliminate barriers and misuse of the pact.
The Sun
02-07-2025
- Politics
- The Sun
India backs Malaysia's ASEAN vision, strengthens Myanmar ties
KUALA LUMPUR: India has pledged strong backing for Malaysia's role as ASEAN Chair this year, endorsing its emphasis on regional stability and growth. High Commissioner of India to Malaysia, B.N. Reddy, affirmed the alignment with Malaysia's ASEAN priorities during an interview with Bernama TV. Reddy stated, 'India is keen to align with the core themes of Malaysia's ASEAN Chairmanship - 'Inclusivity and Sustainability', as well as ASEAN Centrality.' He further stressed India's interest in boosting connectivity with ASEAN via Myanmar, adding, 'We would like to see a prosperous and stable Myanmar, which is where our alignment comes with ASEAN.' The diplomat noted that ASEAN-India relations have progressed to a comprehensive strategic partnership. India's delegation will participate in the upcoming ASEAN Foreign Ministers' Meeting (AMM) in Kuala Lumpur with a constructive approach. Pabitra Margherita, India's Minister of State for External Affairs, is set to attend, outlining India's regional agenda ahead of the ASEAN-India Summit in October. On bilateral relations, Reddy highlighted Malaysia's growing global influence and regional responsibilities. He pointed to the deep cultural and economic links, with Malaysia home to the largest Indian diaspora outside the U.S., exceeding two million people. 'A partner country like Malaysia is very significant for us. We call Malaysia part of our extended neighbourhood,' he said.
