Latest news with #India-USBilateralTradeAgreement
The Hindu
4 days ago
- Business
- The Hindu
Government hopeful to finalise early deal with U.S. by July 9, on track for broader deal by fall
The government is on track and hopeful to complete an initial tranche of the India-US Bilateral Trade Agreement by the deadline of July 9, and a wider first tranche of the Agreement by Fall of this year, according to officials in the Ministry of Commerce and Industry. 'On the India-US BTA, the US team was here in India for six days of negotiations from June 6-11,' Rajesh Agrawal, Special Secretary in the Ministry of Commerce and Industry and Chief Negotiator on India's behalf in the India-U.S. BTA negotiations, said at a press briefing. 'We are progressing towards our target of finalising tranche one by Fall of 2025.' The Fall deadline — which is typically September to November in the U.S. — was first mentioned in a joint statement by Prime Minister Narendra Modi and U.S. President Donald Trump following Mr. Modi's trip to the U.S. in February this year. Regarding an early, abridged tranche of the deal, Commerce Secretary Sunil Berthwal said the government was hopeful of completing it by July 9, after which Mr. Trump's reciprocal tariffs would kick in again. 'We are working out the early tranche, and as you are aware that there is a day, July 9, before that we would like to conclude the early tranche,' Mr. Berthwal said. 'Both the teams are visiting each other. We visited the U.S. twice and the U.S. team has visited India twice, so the progress has been good. We are hopeful that this would be done within the timelines.' On the India-U.K. Free Trade Agreement (FTA), the negotiations for which concluded in early May, Special Secretary in the Ministry of Commerce L. Satya Srinivas said the two sides were on track to complete the legal scrubbing of the text and finalise it in three months since negotiations ended. The India-EU FTA talks, too, were gaining momentum, he said. 'On the EU FTA, there are some tracks that are working this week together, and we have our next round which is scheduled on July 7,' Mr. Srinivas explained. 'The momentum has picked up regarding the EU talks and the frequency of meetings has increased. Earlier we used to have rounds that were spread across a quarter or even more, but now the time period between meetings has reduced.'
United News of India
6 days ago
- Automotive
- United News of India
Ahmedabad plane crash ;HDFC Life Simplifies Claim Submission Process for Affected Families
TOYO, MODEC inaugurate Global Capability Centre in Bengaluru 14 Jun 2025 | 7:45 AM Bengaluru, Jun 13 (UNI) Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc (MODEC) on Friday announced the inauguration of their joint Global Capability Centre (GCC), TOYO MODEC OFS India Private Limited (OFS India) here, marking a key milestone in their global expansion and innovation strategy. see more.. EEPC India holds open house session on India-US bilateral trade 14 Jun 2025 | 7:31 AM New Delhi, June 13 (UNI) EEPC India, the country's apex engineering exports promotion body, on Friday held an Open House Session on the India-US Bilateral Trade Agreement (BTA) here in which participating members shared that buyers in the US are delaying orders due to policy uncertainty, making it hard for businesses to plan and grow. see more.. Ahmedabad plane crash ;HDFC Life Simplifies Claim Submission Process for Affected Families 14 Jun 2025 | 12:46 AM Mumbai, June 13 (UNI) In order to provide prompt assistance to families impacted by the recent airplane tragedy in Ahmedabad, HDFC Life has simplified its claim submission process according to a statement issued by company on Friday. see more.. Nasscom urges Karnataka to give interim relief for bike taxis 13 Jun 2025 | 9:02 PM Bengaluru, Jun 13 (UNI) The National Association of Software and Service Companies (NASSCOM) on Friday submitted a formal representation to Karnataka Transport Minister Ramalinga Reddy, seeking immediate relief and a regulatory framework for bike taxi operations in the state. see more.. Telangana: Flipkart and WE Hub host a workshop to empower women entrepreneurs through e-commerce 13 Jun 2025 | 7:18 PM Hyderabad, June 13 (UNI) Flipkart, India's homegrown e-commerce marketplace, collaborated with WE Hub, a Government of Telangana initiative, hosted a dedicated workshop to empower women entrepreneurs with the insights and tools needed to scale their business through e-commerce. see more..
United News of India
7 days ago
- Business
- United News of India
EEPC India holds open house session on India-US bilateral trade
New Delhi, June 13 (UNI) EEPC India, the country's apex engineering exports promotion body, on Friday held an Open House Session on the India-US Bilateral Trade Agreement (BTA) here in which participating members shared that buyers in the US are delaying orders due to policy uncertainty, making it hard for businesses to plan and grow. Even as India and the US are holding bilateral trade agreement (BTA) talks, the US recently doubled tariffs under Section 232 — from 25 percent to 50 pc on steel, steel products, and aluminium. Auto components face a 25 pc duty, while other items are taxed at 10 pc. Unlike countries like Canada, Mexico, and the UK, India does not enjoy tariff exemptions from the US. This puts Indian exporters at a disadvantage, especially for low-margin products that are easily replaceable and sensitive to price changes, the speakers said. EEPC India chairman Pankaj Chadha, emphasised that while the BTA may take time, India must ensure that its final agreement is on par or better than those of other US trade partners. Aakash Shah, Vice Chairman of EEPC India, pointed out that India's penetration in the US engineering market remains low. India ranks only 13th among the US's engineering trade partners, with a modest 1.8 pc share. 'These small figures might offer India an opportunity to request more favourable trade terms under the ongoing BTA discussions to support its engineering exporters,' he noted. The aluminium industry raised concerns about high power costs in India, which make production expensive. In contrast, countries like Canada and those in Europe, which use cheaper renewable energy, can offer better prices and gain market share in the US. Producers in the Middle East, such as UAE and Bahrain, are also expanding rapidly. EEPC India members appreciated the Government's support in dealing with various challenges which hit the industry from time to time. Rajesh Agrawal, Special Secretary in the Department of Commerce and India's Chief Negotiator for the BTA was the chief guest at the session. UNI PC SSP
Time of India
31-05-2025
- Business
- Time of India
Hoping to put Pak on grey list, India eyes FATF tango with US
NEW DELHI: Foreign secretary Vikram Misri discussed ways to deepen economic and financial ties with the US, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes, during his visit to Washington, said the Indian govt. Tired of too many ads? go ad free now This is important in the context of ongoing efforts by India to get Pakistan back into the global terror watchdog's grey list by flagging its involvement in terror-financing in the FATF meeting in June. Misri discussed the issue with deputy secretary of the treasury Michael Faulkender. Misri's visit to the US was a follow-up to PM Modi's visit to the country on Feb 13 this year, during which both sides launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century. In meetings with deputy secretary of defense Steve Feinberg and under secretary for policy Elbridge Colby, both the sides reaffirmed their commitment to a robust and forward-looking defense partnership. Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces. At a luncheon meeting with deputy secretary of state Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. India and the US also reviewed progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations.
Economic Times
31-05-2025
- Business
- Economic Times
India, US to 'coordinate in the upcoming' Financial Action Task Force (FATF) processes
ANI India, US to "coordinate in the upcoming" Financial Action Task Force (FATF) processes Foreign Secretary Vikram Misri engaged in several high-level engagements with senior officials of the US Administration. Misri held talks with Deputy Secretary of the Treasury Michael Faulkender, where they discussed collaboration in the upcoming Financial Action Task Force (FATF) processes. "With Deputy Secretary of the Treasury Financial Action Task Force Financial Action Task Force, the Foreign Secretary discussed ways to deepen economic and financial ties, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes," a statement by the Ministry of External Affairs read. Sources say India will spare no effort to bring Pakistan onto the grey list during the FATF proceedings. The global money laundering and terrorist financing watchdog has been informed about India's intentions. Sources say that India will send a detailed dossier to the FATF, outlining evidence and concerns regarding the involvement of certain entities and individuals in terror financing and money laundering activities. The dossier will highlight India's findings and demand strict scrutiny and action by the FATF under international protocols. Meanwhile, FS Misri held talks for the inter-agency discussions on the India-US COMPACT for the 21st century. — IndianEmbassyUS (@IndianEmbassyUS) "During his visit, Misri held wide-ranging discussions with counterparts across the Department of State, National Security Council, Department of Defense, Department of the Treasury, and the Department of Commerce," the statement also held talks with Deputy Secretary of State Christopher Landau, where they agreed that Tech-Trade-Talent will shape the India-US partnership in the 21st century. — IndianEmbassyUS (@IndianEmbassyUS) — DeputySecState (@DeputySecState) "At a luncheon meeting with Deputy Secretary of State Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. They underscored that Technology, Trade, and Talent would be the key pillars shaping the India-US partnership in the 21st century," the statement said."In meetings with Deputy Secretary of Defence Steve Feinberg and Under Secretary for Policy Elbridge Colby, both sides reaffirmed their commitment to a robust and forward-looking defence partnership. Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces," the statement added. — IndianEmbassyUS (@IndianEmbassyUS) Misri also held talks with Under Secretary of Commerce Jeffrey Kessler and reviewed progress on the India-US Bilateral Trade Agreement."In his meeting with Under Secretary of Commerce Jeffrey Kessler, both sides reviewed progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations. They agreed to convene the next meeting of the India-US Strategic Trade Dialogue at the earliest opportunity," the statement said. "Consistent with the vision outlined in the COMPACT, detailed inter-agency discussions were held on a range of strategic areas including defence cooperation, energy security, TRUST initiative, counter-terrorism, the Indian Ocean Strategic Venture, and collaboration through platforms such as the Quad, I2U2, and IMEEC," the statement added. — IndianEmbassyUS (@IndianEmbassyUS) Misri, along with US Deputy National Security Advisor Pavan Kapoor, also held talks on deepening bilateral collaboration in critical and emerging technologies. Foreign Secretary Vikram Misri visited Washington, DC from May 27-29, 2025, for a series of high-level engagements with senior officials of the US Administration. The visit was a follow-up to the Prime Minister's visit to the United States on February 13, 2025, during which both sides launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century. Deputy National Security Advisor Shri Pavan Kapoor was also part of the Indian delegation.
