'The India-UK FTA is an enormous win for both the Indian consumer and the Scotch whisky industry. It will make whisky more affordable while expanding the Scotch market by about a billion dollars.'
The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
For UK automakers, market access to India will be limited by quantity caps and phased tariff cuts, especially on petrol, diesel and electric vehicles.
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
Prime Minister Narendra Modi's visit to Israel aims to strengthen the strategic partnership between the two nations, focusing on cooperation in various sectors including defense, technology, and trade.
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA. The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.
India and the European Union are set to announce on January 27 the conclusion of negotiations and finalisation of a free trade agreement, which is aimed at boosting economic ties between the two regions amid disruptions in global trade due to US tariffs, an official said.
Foreign tourist arrivals in India dropped to 6.18 million during the April-September 2025 period against 7.06 million during the same period last year, which was a drop of 12.4 per cent.
Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.
India on Monday announced closure of negotiations for a free trade agreement signed with New Zealand, its 18th deal so far as the country aims to boost bilateral trade and investments. The India-New Zealand FTA is expected to be signed in the next three months and it is likely to come into force next year.
Highlights of the Economic Survey 2025-26
Prime Minister Narendra Modi and (the then) UK Prime Minister Boris Johnson launched an 'Enhanced Trade Partnership' (ETP) to unleash the trade potential between the two economies. As part of the ETP, they agreed on a roadmap to negotiate a comprehensive and balanced FTA.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
Prime Minister Narendra Modi is scheduled to visit Israel for two days to discuss bilateral and regional issues, marking his second visit to the Jewish state and highlighting the growing strategic partnership between India and Israel.
New Zealand has taken a binding commitment under its Free Trade Agreement (FTA) with India to amend its laws within 18 months of the pact's implementation to facilitate the geographical indication (GI) registration of Indian goods besides wines, and spirits in the island nation. The current GI law of New Zealand only allows India's wines and spirits to be registered.
New Zealand has liberalised mobility provisions under the concluded trade pact, enabling Indian students to access longer post-study work visas and allowing 5,000 Indian professionals, including yoga instructors and chefs, to work in the Oceania country.
India and the UK have respected each other's political sensitivities during the negotiations for free trade agreement, with New Delhi agreeing to drop its demand on post-study work visas for students in exchange for Britain withdrawing its request to open up legal services here, an official said on Wednesday.
India will not provide any duty concessions on British wines and is offering only limited import duty benefits on UK beer under the free trade agreement (FTA) between the two countries, announced on May 6, according to an official. The other sensitive agri products where India will not offer any reduction in the import duty include dairy products, apples, cheese, oats, animals and vegetable oils under the agreement with the United Kingdom.
European Commission President Ursula von der Leyen says India and the EU are close to a 'historic trade agreement' that could create a market of two billion people and account for almost a quarter of the global GDP.
Over the years, India-EU ties have grown, and covered trade, investment, climate change, science and technology, space, digital, mobility, and connectivity.
The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
Sector analysts in India feel that the new convention may not lead to a significant increase in the number of Indian employees being sent to the UK.
President Droupadi Murmu addressed Parliament, urging unity on national issues like 'Viksit Bharat', swadeshi, and national security. She highlighted government initiatives and the nation's progress.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
Guterres emphasised that global structures and institutions must reflect the complexity and the opportunity of the "new times and realities"
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
Among major engagements in 2026 is the visit of the European Union leadership, chief guests at the Republic Day parade.
Next week's three-nation foreign tour of Prime Minister Narendra Modi will see India and Oman sign a free trade deal. The visit will also pave the way for agreements with Ethiopia and Jordan to increase India's bilateral trade and investments.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
'...but I would not like to put a timeline to it'
India is poised to become the largest global scotch whisky market in value and volume terms over the next few years, fuelled by competitive intensity, premiumisation and economic growth, Scotch Whisky Association chief executive Mark Kent CMG has said.
Prime Minister Narendra Modi is likely to visit the United Kingdom by the end of this month, with the India-UK free trade deal expected to be formally signed. Discussions on expanding bilateral ties in defence and security are also anticipated.
European Union (EU) companies operating in India want New Delhi to streamline or remove non-tariff barriers such as Quality Control Orders (QCOs), complex Customs procedures; simplify labelling, testing, and import procedures; and facilitate cross-border digital transactions without data localisation constraints. These are results of a Business Sentiment Survey, 2025 conducted by the Federation of European Business in India (FEBI) ahead of resumption of negotiations for a free trade agreement (FTA) between both the sides scheduled to be concluded by year-end.
India and Russia are poised to sign multiple agreements to bolster cooperation in various sectors, including trade and healthcare, during Russian President Vladimir Putin's visit to New Delhi. Discussions will also address the Ukraine conflict and efforts to increase Indian exports to Russia.
While the move may give a competitive edge over rivals like Bangladesh in the global market, several industry bodies raised concerns that many state governments may not implement it on the ground.
'I don't think we should ever negotiate with deadlines or hard stops because we tend to make mistakes then.'
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
