India finalised a free trade agreement with the UK, its 16th so far as the country aimed at boosting bilateral trade and investments. The other regions and countries with which India has signed such agreements include the four-nation European bloc EFTA, Japan, Korea and Australia.
Calling India one of the most attractive investment destinations globally, vice president of European Commission Jyrki Katainen also complimented the government for its resolve to roll out the GST.
Agreeing to resist protectionism in global trade, India and the European Union announced reaching the final stage of a trade and investment opening pact, billed as one of the largest bilateral agreements.
India and Italy inked 15 pacts and finalised an ambitious action plan to further expand their ties following a virtual summit between Prime Minister Narendra Modi and his Italian counterpart Giuseppe Conte that primarily focused on ramping up economic engagement.
The agreement provides for extensive cooperation in the civil nuclear energy sector including in research and development for peaceful uses of nuclear energy, they said.
India has been spearheading the campaign at international fora for automatic exchange of information with a view to check tax evasion.
Recalibration is required as some items of interest to Britain may have to be removed
The proposed overhaul of popular H-1B visa regime may result in higher operational costs and shortage of skilled workers for the $110-billion Indian outsourcing industry.
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India-European Union Broad-based Trade and Investment agreement came up for discussion in a meeting between Sharma and visiting Netherlands Minister of Foreign Trade and Development Cooperation Lilianne Ploumen in New Delhi.
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