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Hans India
15 hours ago
- Business
- Hans India
India-Chile economic pact to boost global value chains
The India-Chile Comprehensive Economic Partnership Agreement (CEPA) will pave the way for a deeper economic partnership and the creation of strengthened global value chains between the two countries, the government has said. The CEPA aims to unlock the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth. The modalities of negotiation will emerge through stakeholder consultations and industry feedback. Both sides are committed to a gainful and explorative approach to ensure a successful and meaningful agreement, said the Commerce Ministry. In furtherance of the commitment made during the high-level dialogue between India and Chile, the terms of reference for negotiating the CEPA were signed earlier this month. The first round of negotiations commenced on May 26, with the opening ceremony inaugurated by Commerce Secretary, Sunil Barthwal in the presence of Ambassador of Chile to India, Juan Angulo. The next round of negotiations is expected in July or August and will be preceded by inter-sessional discussions through virtual conferences to address outstanding issues in advance of the upcoming meeting. The launch of the CEPA negotiations was welcomed by both nations during the state visit of the President of Chile, Gabriel Boric Font, to India in April and his meeting with Prime Minister Narendra Modi. The Chilean President conveyed that India is a priority partner for Chile in the global economy and highlighted the need to explore strategies for enhanced and diversified trade between the two countries. Both leaders welcomed the initiation of negotiations towards a balanced, ambitious, comprehensive, and mutually beneficial CEPA aimed at achieving deeper economic integration. The Chilean negotiating team had 17 delegates and the Indian delegation was headed by Chief Negotiator Vimal Anand, Joint Secretary, Department of Commerce. Discussions were held across 17 themes including, Trade in Goods, Trade in Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Initial Provisions and General Definitions, Core and Institutional Provisions, Final Provisions, Transparency, Dispute Settlement, Economic Cooperation, MSMEs and Women's Economic Empowerment, among others.
India Gazette
a day ago
- Business
- India Gazette
First round of India-Chile CEPA negotiation concludes in Delhi
New Delhi [India], May 30 (ANI): In furtherance of the commitment made during the high-level dialogue between India and Chile, the Terms of Reference for negotiating the India-Chile Comprehensive Economic Partnership Agreement (CEPA) were signed on May 8, 2025. According to a release from the Ministry of Commerce & Industry, the first round of negotiations commenced on May 26, 2025, with the Opening Ceremony inaugurated by Commerce Secretary Sunil Barthwal in the presence of the Ambassador of Chile to India, HE Juan Angulo. During the inauguration, Barthwal emphasised that the agreement would pave the way for a deeper economic partnership and the creation of strengthened global value chains between the two countries. The next round of negotiations is expected in July/August 2025 and will be preceded by intersessional discussions through virtual conferences to address outstanding issues before the upcoming meeting. The launch of the CEPA negotiations was welcomed by both nations during the State Visit of the President of Chile, HE Gabriel Boric Font, to India in April 2025 and his meeting with the Hon'ble Prime Minister of India, Narendra Modi. President Boric conveyed that India is a priority partner for Chile in the global economy and highlighted the need to explore strategies for enhanced and diversified trade between the two countries. Both leaders welcomed the initiation of negotiations towards a balanced, ambitious, comprehensive, and mutually beneficial CEPA aimed at achieving deeper economic integration. The Chilean negotiating team, comprising 17 delegates, was led by Chief Negotiator Pablo Urria, Director for Asia & Oceanic at the Secretariat of International Economic Relations, Ministry of Foreign Affairs of Chile. The Indian delegation was headed by Chief Negotiator Vimal Anand, Joint Secretary, Department of Commerce. Discussions during the round were held across 17 thematic tracks including: Trade in Goods, Trade in Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Initial Provisions and General Definitions, Core and Institutional Provisions, Final Provisions, Transparency, Dispute Settlement, Economic Cooperation, MSMEs, Women's Economic Empowerment, Critical and Strategic Minerals Trade & Sustainable Development, Global Value Chains, Investment Promotion & Cooperation, and Intellectual Property Rights. The CEPA aims to unlock the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth. The modalities of negotiation will emerge through stakeholder consultations and industry feedback. Both sides are committed to a gainful and explorative approach to ensure a successful and meaningful agreement. (ANI)
Hindustan Times
21-05-2025
- Business
- Hindustan Times
Government to promote Indian tea with local spices
NEW DELHI: The government has asked its agencies, the Tea Board of India and the Spices Board of India to join hands in marketing Brand India globally, a senior official said on Wednesday. Commerce secretary Sunil Barthwal on Wednesday said he has directed the Tea Board to evolve a strategy to market the domestic tea industry in a big way. He also spoke about promoting 'tea literacy' through various promotional and awareness programmes so that people better appreciate the various specialities and nuances of Indian tea. The two boards come under the commerce and industry ministry. He also directed the Tea Board to explore the possibility of launching certification courses in tea tasting with an aim to skill the youth, and promote tourism in the sector. 'The Tea Board is trying to take steps to establish a centre for tea tasting certification courses in the country,' Barthwal said at the International Tea Day Convention held at Vanijya Bhawan. International Tea Day is observed on May 21. The government is keen to promote the tea industry in a big way. Commerce minister Piyush Goyal, who is currently visiting the United States, said in a post on X: 'Most of us cannot imagine a morning without our cup of tea. I am one of them! The strong flavour, mixed with aromatic spices and just enough sweetness, will get you ready to face the day. We owe this morning's magic potion to the countless hardworking tea growers across the country who have made India one of the top tea producers and key global exporters of tea. From our gardens spread across the north-east to the south, India's tea tells a story of tradition and taste. This #InternationalTeaDay, we pledge to make Indian tea an indispensable part of homes globally.' A second official said the tea sector has tremendous export potential and grew 11% to $920 million in FY25 on an annualised basis. Assam, West Bengal, Uttarakhand, Tamil Nadu and Kerala, are major tea producing states. Over 80% of the tea produced in the country is consumed domestically. Main varieties of Indian tea include Darjeeling, Assam, Nilgiri, and Kangra. Minister of State for Commerce & Industry Jitin Prasada emphasised the importance of tea in the socio-economic fabric of the country and the need to explore innovative avenues of branding and marketing Indian teas, so as to reinforce its position as a world leader in tea export. He exhorted the Indian tea industry to achieve greater heights in the export scenario and to reinvent itself with new and innovative varieties of teas, especially targeted towards the youth and niche markets. He also stressed on the fact that we need to ensure the best facilities for all the stakeholders in the entire supply chain from the grower to the consumer.
Time of India
21-05-2025
- Business
- Time of India
Tea Board looking at tea tasting certification course to skill youth: Commerce secretary Sunil Barthwal
The Tea Board of India plans to launch tea tasting certification courses. This initiative aims to skill the youth and boost tea literacy. It will also promote tea tourism in India. Commerce Secretary Sunil Barthwal announced this on International Tea Day. India's tea exports increased to $920 million in FY25. Tired of too many ads? Remove Ads New Delhi: The Tea Board of India will explore the possibility of launching certification courses in tea tasting to skill the youth and promote tea literacy and tourism in the sector, commerce secretary Sunil Barthwal said Wednesday on the International Tea Day.'The Tea Board is trying to take steps to establish a centre for tea tasting certification courses in the country,' Barthwal said, adding that this will also contribute to promoting tea tea exports rose to $920 million in FY25 from $830 million in FY24. Major producing states include Assam, West Bengal, Tamil Nadu, and Kerala, with 81% of the production consumed courses will provide structured training in tea tasting segment as it is a specialised skill essential to the industry. It would also help standardise tasting practices and provide young professionals with a recognised varieties of tea in India include Darjeeling, Assam, Nilgiri, and Kangra.
Time of India
18-05-2025
- Business
- Time of India
India, EU conclude 11th round of FTA talks, likely to agree on deal in two phases
AI-generated image NEW DELHI: India and the European Union have concluded the 11th round of negotiations on their proposed Free Trade Agreement (FTA), reportedly agreeing to pursue a two-stage approach to finalise the deal, an official source, quoted by news agency PTI confirmed on Sunday. "The 11th round of talks concluded on May 16," the official said, quoted by news agency PTI. This comes amid rising global trade uncertainties, particularly in light of US tariff policies under President Donald Trump . In response, both sides have opted for a phased strategy, similar to India's previous trade pacts with Australia and ongoing discussions with the US. Negotiators focused on key areas such as market access for goods, services, and investment. Commerce Secretary Sunil Barthwal had earlier explained the rationale behind the phased approach, saying, "If some of the issues which may not be very core to the trade, maybe taking some more time, then it is better to focus on core trade issues. So, we say that first things are also discussing with the EU what can be the early harvest of the first tranche, where we can do faster. " The EU has sought significant tariff reductions on products including automobiles, medical devices, wines, spirits, meat, and poultry, as well as stronger intellectual property protections. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gentle Japanese hair growth method for men and women's scalp Hair's Rich Learn More Undo A successful agreement is expected to enhance India's export competitiveness to the EU in sectors like ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery. C ommerce and Industry minister Piyush Goyal reviewed progress during his visit to Brussels on May 1. Talks resumed in June 2022 after an eight-year hiatus, following a breakdown in 2013 over market access concerns. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen committed on February 28 to conclude the agreement by the end of 2025. The negotiations span 23 policy areas, including trade in goods and services, investment protection, customs procedures, technical barriers, intellectual property rights, and sustainable development. In 2023–24, EU-India bilateral goods trade stood at $137.41 billion, with Indian exports valued at $75.92 billion and imports at $61.48 billion- making the EU India's largest trading partner in goods. The EU accounts for around 17 per cent of India's total exports, while exports to India represent 9 per cent of total EU overseas sales. In addition to the FTA, talks continue on a bilateral investment protection agreement and recognition of geographical indications (GIs). Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
