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Economic Times
4 days ago
- Business
- Economic Times
India inked 5 FTAs in past 5 years, negotiations on for a few more: Jitin Prasada apprises Parliament
Synopsis India has boosted its trade relations by signing five Free Trade Agreements. These agreements include deals with Mauritius, UAE, and Australia. Trade data shows mixed results, with growth in some sectors. India is also in talks for new agreements with several countries. Discussions are underway with the EU, Australia, Sri Lanka, and the United States. ANI Jitin Prasada, Minister of State for Commerce and Industry India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new deals, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha in a written reply this member Jebi Mather Hisham asked the Minister to apprise the House about the number of international trade agreements that have been signed by India in the last five years, besides details of their agreements inked over the past 5 years include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into data shared by the Union Minister shows mixed the India-Australia ECTA, exports grew 14 per cent in 2023-24 and 8 per cent in 2024-25, though the trade balance remained negative in both the latest fiscals. The Mauritius trade deal maintained a consistent trade surplus, while trade with the UAE recorded significant growth in both exports and imports, primarily driven by petroleum products. A widening deficit has been noticed vis-a-vis the India-UAE FTA, core imports in 2024-2025 included Petroleum: Crude, Petroleum Products, and other related commodities. India's exports of agricultural products and pharmaceuticals have registered growth."Additionally, the FTA has also led to a significant growth in Foreign Direct Investment," the minister said in his India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification India has concluded negotiations for a Comprehensive Economic Partnership Agreement with Oman, and is in advanced talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United India is reviewing and upgrading older trade pacts such as the ASEAN-India Trade in Goods Agreement (2009) and the India-Korea CEPA (2009).
Time of India
4 days ago
- Business
- Time of India
India concludes trade deal negotiations with Oman, date of economic partnership agreement remains unrevealed
Negotiations for a comprehensive trade deal between India and Oman , which commenced in 2023, have been concluded. "India-Oman CEPA negotiations have been concluded," Minister of State for Commerce and Industry Jitin Prasada informed Rajya Sabha in a written reply this week while responding to a question from Congress member Hebi Mather Hisham relating to India's trade deals. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program India and Oman share a longstanding history of friendship and cooperation, built on the foundation of mutual trust and respect, and strong people-to-people ties going back centuries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Become Fluent in Any Language Talkpal AI Install Now Undo The two countries are strategic partners, and the bilateral trade and investment relationship between them has flourished since diplomatic relations were established in 1955, which was upgraded to a strategic partnership in 2008. The minister, in his reply, however, didn't mention any date or timeline on the expected signing ceremony for the India-Oman Comprehensive Economic Partnership Agreement. Live Events Further, the Minister apprised the Upper House that India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new deals. Congress member Jebi Mather Hisham asked the Minister to apprise the House about the number of international trade agreements that have been signed by India in the last five years, besides details of their implementation. The agreements inked over the past 5 years include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into force. The India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification processes. Meanwhile, India is in talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United States.
News18
4 days ago
- Business
- News18
India concludes trade deal negotiations with Oman
New Delhi [India], August 10 (ANI): Negotiations for a comprehensive trade deal between India and Oman, which commenced in 2023, have been concluded.'India-Oman CEPA negotiations have been concluded," Minister of State for Commerce and Industry Jitin Prasada informed Rajya Sabha in a written reply this week while responding to a question from Congress member Hebi Mather Hisham relating to India's trade and Oman share a longstanding history of friendship and cooperation, built on the foundation of mutual trust and respect, and strong people-to-people ties going back centuries. The two countries are strategic partners, and the bilateral trade and investment relationship between them has flourished since diplomatic relations were established in 1955, which was upgraded to a strategic partnership in minister, in his reply, however, didn't mention any date or timeline on the expected signing ceremony for the India-Oman Comprehensive Economic Partnership the Minister apprised the Upper House that India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new member Jebi Mather Hisham asked the Minister to apprise the House about the number of international trade agreements that have been signed by India in the last five years, besides details of their agreements inked over the past 5 years include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification India is in talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United States. (ANI)
Time of India
4 days ago
- Business
- Time of India
India inked 5 FTAs in past 5 years, negotiations on for a few more: Jitin Prasada apprises Parliament
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India has strengthened its trade ties over the past five years, signing five major Free Trade Agreements (FTAs) and progressing on several new deals, Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha in a written reply this member Jebi Mather Hisham asked the Minister to apprise the House about the number of international trade agreements that have been signed by India in the last five years, besides details of their agreements inked over the past 5 years include the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) implemented in 2021, the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) in 2024, and the India-UK Comprehensive Economic and Trade Agreement (CETA) signed in 2025, which is yet to come into data shared by the Union Minister shows mixed the India-Australia ECTA, exports grew 14 per cent in 2023-24 and 8 per cent in 2024-25, though the trade balance remained negative in both the latest Mauritius trade deal maintained a consistent trade surplus, while trade with the UAE recorded significant growth in both exports and imports, primarily driven by petroleum products. A widening deficit has been noticed vis-a-vis the India-UAE FTA , core imports in 2024-2025 included Petroleum: Crude, Petroleum Products, and other related commodities. India's exports of agricultural products and pharmaceuticals have registered growth."Additionally, the FTA has also led to a significant growth in Foreign Direct Investment," the minister said in his India-European Union Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) is expected to be implemented later this year once all parties complete their ratification India has concluded negotiations for a Comprehensive Economic Partnership Agreement with Oman, and is in advanced talks for several other agreements, including the India-EU FTA, India-Australia Comprehensive Economic Cooperation Agreement (CECA), India-Sri Lanka Economic and Technology Cooperation Agreement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral trade agreement with the United India is reviewing and upgrading older trade pacts such as the ASEAN-India Trade in Goods Agreement (2009) and the India-Korea CEPA (2009).
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Business Standard
22-07-2025
- Business
- Business Standard
India ratifies trade deal with EFTA, eyes boost in exports, investment
India on Tuesday submitted the ratification document of the free trade agreement with the four-European nation bloc EFTA to Norway. The pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), will be implemented from October 1, Commerce and Industry Minister Piyush Goyal has said on Saturday. "India deposited the Instrument of Ratification of the TEPA between India and EFTA today at the Ministry of Foreign Affairs of Norway, which is the depository entity of TEPA," according to a post by the Indian Embassy in Norway on X. The two sides signed the agreement on March 10, 2024. Under the pact, India has received an investment commitment of $100 billion in 15 years from the grouping while allowing several products, such as Swiss watches, chocolates, and cut and polished diamonds, at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
