Hit by the growing non-tariff barriers imposed by the European Union, India is likely to raise the issue at the day-long India-EU summit at The Hague on Monday.
India's efforts to include services in the proposed Framework on Agriculture and Non-agriculture Market Access have received a shot in the arm with the European Union showing willingness to extend its support.
Regional economic integration in South Asia, he said, is a priority for the EU.
The EU ambassador to India hoped the principle of equality will be upheld in the CAB. He also said that Pak must take action against terror groups.
Dr Reddy's Laboratories (DRL) is set to acquire Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy (NRT) category outside of the US. DRL will pay a total consideration of 500 million, including an upfront cash consideration of 458 million and contingent cash payments up to 42 million based on performances in CY25 and CY26. DRL will acquire the portfolio through the purchase of shares of Northstar Switzerland SARL, a Haleon group firm.
A high-level meeting between the two sides will be held in New Delhi from Monday on the comprehensive economic agreement which aims at eliminating trade barriers to enhance commerce between India and the EU.
India and European Union will discuss issues of mutual interest during the first joint industrial energy conference in New Delhi next month.
Inviting EU lawmakers to J-K is the 'ultimate disrespect' to Indian Parliament's sovereignty, Sharma added.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
Most of India's oil supplies are expected to stay safe because of the country's good relations with both Russia and Iran. That would take care of over a third of India's supplies.
The EU also feels that Tamil Nadu has adopted a restrictive practice for imported liquor. Significantly, a similar complaint by the trade bloc at the WTO led to the elimination of additional Customs duty on imported liquor in 2007.
During the talks, both sides failed to reach on a conclusion and has agreed to meet again in June.
India may formally approach the World Trade Organisation's dispute panel against the European Union following the seizure of low-cost generic medicine consignments in European ports meant for other developing countries. The two parties have failed to reach an amicable solution during the consultation process.
Despite all official assurances, the path towards a free trade agreement (FTA) between India and the European Union (EU) this year remains ambiguous, as both sides are unwilling to relax their stand on the biggest stumbling block - the issue of "data exclusivity".
Seeking to provide a "new dimension" to their otherwise "neglected" relations, the European Union said on Monday it is committed to expand its ties with India beyond trade and commerce to include issues of security and terrorism. "Not only in terms of trade, the EU is seeking fruitful dialogue with India on security, terrorism and climate change, apart from greater cooperation in energy security, cultural and people to people exchange," Graham Watson.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Air India has ordered 470 aircraft to serve the Indian economy and is set to receive a new aircraft every six days over the next 18 months, CEO and MD Campbell Wilson said on Friday. He was speaking at the 67th Assembly of Presidents of the Association of Asia Pacific Airlines here. "We have new aircraft, we are recruiting many, many new crew and staff, improving the training regime and there is more work to do and we are making good progress," he said.
"We expect to host the India-EU summit under the UK presidency in New Delhi and welcome the British Prime Minister to our country later this year," External Affairs Minister Natwar Singh said.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
The European Union, which will soon kick-off an energy dialogue with India, has said it is not opposed to a $4.16 billion pipeline project to pump gas from Iran to India through Pakistan.
Asserting that trade had to play a central role in the partnership between India and EU, Commerce Minister Kamal Nath said there was a need for a liberal regime for free movement of "natural persons"
The European Union may back off from its insistence on including non-trade issues like human rights in the proposed free trade pact with India.
According to a source on the Indian side, New Delhi and Brussels have agreed to eliminate tariffs on 90 percent of all tradable goods. But, India wants the EU to up their offer to include 95 percent of goods, while the EU wants India to offer a slash in tariffs on 98 percent of goods.
The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
The European Parliament has urged India and Pakistan to resume dialogue in pursuit of a peaceful solution in Kashmir, while urging for 'normalcy' in the region.
On Monday, the EU had temporarily banned imports of Alphonso mangoes, the king of fruits, and four vegetables from India from May 1.
India on Thursday raised the contentious issue of higher GSP concessions to Pakistan with the visiting EU Trade Commissioner Pascal Lamy.\n\n\n\n
India was apprehensive because EU was pushing for data exclusivity provisions that would have affected domestic pharma companies.
But the EU would like New Delhi to first fulfil certain 'necessary preconditions.'
India is giving priority to boost trade with European Union and foresees no difficulty in signing a free trade and investment agreement with EU, notwithstanding wide differences between the two sides in the WTO over the Doha Round of trade talks. India and EU are negotiating a free trade and investment agreement aimed at phasing out and eliminating import duties on a large number of trade items.
The Congress on Tuesday stepped up its attack on the Bharatiya Janata Party government for allowing European Union MPs to visit Kashmir while denying permission to Indian parliamentarians, and termed it a "national embarrassment".
John Clancy, spokesperson for the European Commission's trade directorate, told Business Standard this week's talks would focus on 'tariffs and services'.
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