India and EU Close to Finalizing Historic Free Trade Deal Covering Goods, Services & Investments

India and the European Union are on the brink of sealing a historic Free Trade Agreement (FTA), with only a few issues left to resolve. Commerce Minister Piyush Goyal confirmed from Bern that negotiations are 'really very near' completion, emphasizing mutual respect and commitment to fast-tracking the deal. Resumed in 2022, the talks span 23 major chapters, including goods, services, investment, digital trade, IPRs, and sustainable development. External Affairs Minister S. Jaishankar supports concluding an 'ambitious and balanced' deal by the end of 2025. EU foreign policy chief Kaja Kallas called India and the EU 'natural partners' representing 25% of global GDP and population. In 2023–24, India-EU goods trade hit $137.4 billion, with services trade at $51.45 billion. The FTA is set to redefine global trade alignments, opening massive opportunities for collaboration, innovation, and strategic economic growth.#indiaeufta #piyushgoyal #indiaeu #tradenews #fta2025 #eupartnership #strategicdialogue #euindiarelations #globaltrade #jaishankar #toi #toibharat #bharat #breakingnews #indianews
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India Gazette

an hour ago

• India Gazette

India a good player for stability and future in West Asia, says Israeli envoy Reuven Azar

New Delhi [India], June 22 (ANI): Amid the ongoing conflict between Iran and Israel, Israel's Ambassador to India, Reuven Azar, on Sunday said that India is seen as a 'good and positive' player for peace and development in the West Asia region. Speaking about India's possible role in the current situation, Azar said, 'We see India as a good player, a player for stability, a player that is promoted to work with us and the rest of the international community to build a better future in West Asia. Once we have defeated this Iranian aggression, I think we will be in a situation where we will be able to promote peace in our region and many economic projects that India plans to be part of, like IMEEC (India-Middle East-Europe Economic Corridor) and other projects of cooperation.' Azar's comments came in the context of US airstrikes on three of Iran's nuclear sites on Sunday. Reacting to the US operation, the Israeli envoy said, 'We thank President Trump for his bold historic move to remove nuclear capability from the Islamic Republic of Iran. This is not only an important move for Israel, but it's an important move for the region and the world. President Trump has defended civilisation by taking this decision.' He also explained the role of Israel's prior actions in enabling these attacks. 'Earlier, Israel took care of Iranian air defences in Iran and that allowed us to have freedom of action to hit the installations that were threatening our existence, those installations that were being built to carry through their promise to annihilate the State of Israel,' Azar said. Earlier today the Israeli Air Force launched a new wave of airstrikes targeting military sites in western Iran, shortly after Iranian missile attacks injured civilians in Israel. In a statement, the Israel Defense Forces (IDF) said, 'The IAF has begun a series of strikes toward military targets in western Iran. Additionally, this morning, the IAF struck missile launchers ready to launch toward Israeli territory, soldiers in the Iranian Armed Forces, and swiftly neutralised the launchers that launched missiles toward Israeli territory a short while ago.' According to Israel's news agency TPS, missile impacts were reported in several parts of the country, including Tel Aviv, Haifa, and central Israel. Air raid alarms were heard again in northern regions, and residents were told to stay inside bomb shelters after another wave of missiles was detected.A Times of Israel report citing IDF confirmed its latest response, saying it hit primed missile launchers in fresh strikes on western Iran. A short while ago, ballistic missile launchers used in the attack on Israel this morning were destroyed in strikes, and Iranian soldiers were 'eliminated' as well, the Israeli publication citing the country's military forces said. According to a report by the Times of Israel, Israel's national emergency service, Magen David Adom (MDA), has updated the casualty numbers from the Iranian missile strikes. 'Magen David Adom raises the wounded toll of the latest Iranian ballistic missile attack to 16. A man in his 30s is moderately wounded by shrapnel, and 15 other people are lightly hurt, MDA says. Several missile impacts were reported in central Israel after sirens sounded. One missile hit Haifa, where no sirens sounded ahead of the impact.' Israel's Ministry of Foreign Affairs spokesperson, Oren Marmorstein, condemned the Iranian actions. 'The Iranian regime is firing ballistic missiles at civilian population centres in Israel,' he said in a X post. During the intervening hours of Saturday and Sunday, US and Israel targeted Iran's nuclear sites in Natanz, Isfahan, and Fordow. Fardow is Iran's main enrichment location for uranium enrichment to 60 per cent. According to a CNN report, the US likely used six B-2 bombers to drop a dozen GBU-57 A/B 'bunker buster' bombs, also known as Massive Ordnance Penetrators (MOP), on the Fordow nuclear site, which is Iran's main location for uranium enrichment. A US official also told CNN that a full payload of bombs was dropped on his first public remarks following the strikes, President Trump warned that further action could be taken if Tehran fails to agree to a satisfactory peace settlement.'There will be either peace or there will be tragedy for Iran, far greater than we've witnessed over the last eight days,' Trump said in his address to the nation from the White House on Saturday (local time). (ANI)

Business Standard

an hour ago

• Business Standard

India pursuing FTAs with mature, rule-bound markets: S Jaishankar

External Affairs Minister S Jaishankar has termed India's bilateral trade agreements as the 'space to watch', and said New Delhi has, over the past 11 years, pursued trade pacts with countries that have 'more mature markets' and are more 'transparent and rule bound' compared to East Asian countries. Jaishankar said India is now more interested in key free trade agreements. He said the one with the United Kingdom is more or less finalised, the one with the European Union is in advanced stages of negotiation, and there have been several rounds of discussions between Indian and American officials for a bilateral trade agreement. In an interview to public broadcaster DD India, a link to which the minister posted on X on Saturday, Jaishankar said that in the years following economic reforms, most of India's trade agreements were with Southeast Asian nations, which 'skewed the balance' as several of these economies competed with India and did not provide market access. It was important to make the correction and reach an understanding with more mature markets, which are more transparent and rule bound. Jaishankar said India's trade pacts with the United Arab Emirates and Australia are significant achievements, describing New Delhi's push for FTAs as the 'space to watch'. In 2019, India did not join the Regional Comprehensive Economic Partnership (RCEP) trading bloc that comprises the 10-member ASEAN grouping and other Asia-Pacific economies, including China, Australia and Japan. He said India has, in the past 11 years, systematically tried to 'deepen our posture, our strategic posture, to have good relations with all major countries, but also other regions, so that we get into the optimal position'. In the past 11 years, the EAM said, the consistent theme underpinning India's foreign policy has been planning for a multipolar world, which India not only desires as it gives it a higher profile and more influence. 'But it is not just the question of our wishes, that is the direction in which the world is moving,' he said, which is why New Delhi, despite enormous pressure on it, maintained its relationship with Russia, he added. About India's ties with the US, he said, 'Where the US is concerned, yes, there is unpredictability, therefore at a systemic level, you stabilise it with as many linkages and relationships as possible.' On India's relations with China, Jaishankar said, 'With China, if you have to stand up to that country and we have had some very difficult periods, (and) so it is important to prepare the capabilities.' The minister said a 'really perplexing' aspect of India's China policy before 2014 was the 'complete neglect of our border infrastructure in the previous decades'. 'To have a China policy and neglect your border infrastructure was absurd,' he said. 'And that is one of the things which has changed. We have today that standing up, in defence of our national interests, along the LAC. It is because we have built the border infrastructure to make that possible,' Jaishankar said. On India's ties with its immediate neighbours, Jaishankar said that India 'should not expect smooth sailing' all the time. He said New Delhi has attempted to shape a 'collective interest' to build an inherent stability in relationships, irrespective of changes in regimes. At the end of the day, 'the logic every one of our neighbours must realise' is that working with India will 'give you benefits', and not working with India 'has a cost', he said. 'Some take longer to realise, some understand it better. One exception of course is Pakistan, because it has defined its identity under the army, in a way it has an in-built hostility in it. So if you put Pakistan aside, the logic will apply everywhere else,' the EAM said.

Hindustan Times

2 hours ago

• Hindustan Times

Donald Trump's plan, 125 aircraft, over 24 Tomahawk missiles: Pentagon reveals key details of Iran strikes

US defence secretary Pete Hegseth on Sunday dubbed the US strikes against Iran's nuclear sites as an "incredible and overwhelming success". He said the United States obliterated Tehran's nuclear ambitions with its triple strikes. US defense secretary Pete Hegseth and joint chiefs chairman Gen. Dan Caine speak during a news conference at the Pentagon.(AP) Top US military official, General Dan Caine, said that the United States used 14 bunker-buster bombs, more than two dozen Tomahawk missiles and over 125 military aircraft in the operation. Hegseth, however, said the strikes were not aimed at a regime change. "Iran's nuclear ambitions have been obliterated," Hegseth told reporters in a briefing, adding that the strikes did not target Iranian troops or people. Donald Trump planned the operation He also warned that the world should listen when President Donald Trump speaks. "The operation President Trump planned was bold and it was brilliant, showing the world that American deterrence is back. When this president speaks, the world should listen," Hegseth added. He said Donald Trump "seeks peace and Iran should take that path". "This mission was not, and has not, been about regime change. The president authorised a precision operation to neutralise the threats to our national interests posed by the Iranian nuclear program and the collective self-defence of our troops and our ally Israel," he added. The Pentagon further said the US forces used deception, decoys, and fighters to protect US bombers that dropped 14 bunker-buster bombs. Also read: What Russia, China said on US strikes on Iran nuclear sites: 'Dangerous escalation...' Announcing the strikes, Donald Trump said on Saturday that many other targets were left, and if peace didn't come swiftly, the US may go after them. Also read: PM Modi speaks with Iran's president, calls for de-escalation, dialogue, diplomacy "Remember, there are many targets left,' Trump said Saturday in a three-minute address from the White House. 'Tonight's was the most difficult of them all, by far, and perhaps the most lethal. But if peace does not come quickly, we will go after those other targets with precision, speed and skill.' Trump said US forces hit nuclear sites at Natanz, Fordow and Isfahan, calling the strikes 'a spectacular military success." Also read: Iran reacts to EU's negotiation call after US strikes: 'Can't return to something it never left' Iran, meanwhile, has vowed revenge. Russia and China, two of the US's biggest rivals in geopolitics, have condemned the attack. With inputs from AFP, AP, Reuters