Free Trade Agreement negotiations are going on with UK, EU and Canada: Union Minister Nirmala Sitharaman
September 23, 2023
  • Circulation
  • Advertise
  • Careers
  • About Us
  • Contact Us
Organiser
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • G20
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
MAGAZINE
No Result
View All Result
  • ‌
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Europe
    • North America
    • South America
    • Africa
    • Australia
    • Global Commons
  • G20
  • Editorial
  • Analysis
  • Opinion
  • International
  • More
    • Sports
    • Defence
    • RSS in News
    • Azadi Ka Amrit Mahotsav
    • Politics
    • Vocal4Local
    • Business
    • Economy
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Law
    • Health
    • Obituary
    • Podcast
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • G20
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • International Edition
  • RSS in News
  • Magazine
Home World Europe

Free Trade Agreement negotiations are going on with UK, EU and Canada: Union Minister Nirmala Sitharaman

“India has shown very clearly its initiative is working out well in pursuing with countries and agreeing to have FTA with them. We've had free trade agreements both in goods and services with ASEAN, we have had with Korea, with Japan” said Union Finance Minister Nirmala Sitharaman while speaking at the PIIE

by WEB DESK
Apr 11, 2023, 02:30 pm IST
in Europe, Bharat, World
FacebookTwitterWhatsAppTelegramEmail

On April 10, Union Finance Minister Nirmala Sitharaman while speaking at the Peterson Institute for International Economics (PIIE) on Free Trade Agreements in Washington (FTA) said that FTAs are being signed in a much “faster” way nowadays and also informed that the India-UK FTA negotiations are “going on as we speak.”

This confirmation comes at a time when a recent report suggested that the FTA talks between the two countries are suspended over the UK’s failure to denounce vandalism by Khalistani supporters outside the Indian High Commission in London last month.

The Finance Minister said that, “Free Trade Agreements are being signed in a much faster way nowadays. We’ve just concluded one with Australia. Earlier we concluded with UAE, Mauritius and with Association of Southeast Asian Nations (ASEAN). We have extended quota-free and tariff-free regime to Least Developed Countries”.
Speaking on India’s wish to pursue trade with multilateral groups, she said, “I think India has shown very clearly its initiative is working out well in pursuing with countries and agreeing to have FTA with them. We’ve had agreements with ASEAN, free trade agreements both in goods and services with ASEAN, we have had with Korea, with Japan. So free trade agreements have bilaterally or with multilateral groups been the route which India has had till before 2014 and now between 2019 and today, we’ve had at least three major agreements signed. So, we shall proceed in that route, with the United Kingdom, the European Union, and Canada. All three are happening now as we speak, the negotiations are going on. So we shall go in those preferential routes.”

Earlier today, India dismissed as “baseless” reports in British media stating that it had halted talks for a free trade agreement with the United Kingdom over the attack on the Indian high commission in London last month, Government sources said on April 10.

London-based newspaper The Times in its April 10 edition citing senior British government sources reported that the Indian government has “disengaged” from trade talks and made it clear that there would be no progress “without a public condemnation of the Khalistan movement.”

The India-UK Free Trade Agreement talks were launched on June 17, 2022.

Further, Nirmala Sitharaman urged World Trade Organisation (WTO) to bring transparency in terms of moratorium.

“WTO should be more open about issues. WTO has to be progressive and fair to all members. It has to give voice to all and not just hear but also heed. There’s a continuation of a moratorium since 1998 on electronic transmissions despite evolution to digital age. Shouldn’t there be a change in WTO policy in terms of moratorium? We don’t have to reverse benefits of globalisation but make it more transparent,” she added.

Sitharaman said that India is poised for a more important role in the global value chains.”Given the shocks

witnessed due to supply chain disruptions, MNCs have become prudent & are diversifying. India is attractive because of its skilled youth and large domestic market,” she added.

Also she further stated that India’s growth is sustainable as it attempts to grow its manufacturing sector and not import products that it manufactures.

“Catering to the domestic markets became attractive due to the Phased Manufacturing Programme (PMP),” she said.

“India needs to have resilient value chains come to India for which we came up with Production Linked Incentives (PLI) schemes so that those supply chains can thrive in domestic as well as int’l markets. We’ve incentivised production so that goods produced in India are consumed in India as well as exported to other countries,” she added.

PLI Scheme has helped increase India’s mobile manufacturing capacity, which was almost nil in 2014 and today, India is the second largest manufacturer of smartphones. PLI schemes for 13 sunrise sectors are bringing global value chains into India.

Sitharaman also interacted with business leaders and investors. “Union Finance Minister Smt. @nsitharaman interacts during a roundtable meeting on the “Investment opportunities for the long term: India on the Rise” with business leaders and investors, co-hosted by @FollowCII and @USIBC, in @USChamber, Washington DC, today,” tweeted Ministry of Finance.

Union Finance Minister Smt. @nsitharaman interacts during a roundtable meeting on the “Investment opportunities for the long term: India on the Rise” with business leaders and investors, co-hosted by @FollowCII and @USIBC, in @USChamber, Washington DC, today. pic.twitter.com/aJO9LoK3jF

— Ministry of Finance (@FinMinIndia) April 10, 2023

Indian Ambassador to the US, Taranjit Singh Sandhu accompanied Sitharaman an Executive Roundtable hosted by US-India Business Council (USIBC).
“India on the Rise! Accompanied Finance Minister [?]@nsitharaman for an Executive Roundtable hosted by @USIBC & [?]@FollowCII with a number of leading companies across key sectors. Tremendous energy in the India US economic partnership!” tweeted Sandhu.

India on the Rise!

Accompanied Finance Minister ⁦@nsitharaman⁩ for an Executive Roundtable hosted by @USIBC & ⁦@FollowCII⁩ with a number of leading companies across key sectors. Tremendous energy in the India US economic partnership! pic.twitter.com/furKhtHC9C

— Taranjit Singh Sandhu (@SandhuTaranjitS) April 11, 2023

(with inputs from ANI)

Topics: India-UK FTAIndian High CommissionUnion Finance Minister Nirmala SitharamanPeterson Institute for International EconomicsFree trade agreementsPIIEIndiaNirmala SitharamanASEANFTA
ShareTweetSendShareSend
Previous News

Fake News About RSS: Islamists spreading fake newsletter in the name of RSS claiming converting Muslim girls to Sanatan

Next News

1984 anti-Sikh riots: Congress leader Jagdish Tytler appears before CBI for giving voice sample

Related News

India highlights ‘people-centric’ approach for Ukraine Crisis; questions effectiveness of UNSC

India highlights ‘people-centric’ approach for Ukraine Crisis; questions effectiveness of UNSC

Anglo-Saxon Dilemma: The expulsion of the diplomat and rants of Justin Trudeau

Anglo-Saxon Dilemma: The expulsion of the diplomat and rants of Justin Trudeau

Austria: India, Pakistan attend ‘Neutral Expert Proceedings’ central to Indus Water Treaty in Vienna

Austria: India, Pakistan attend ‘Neutral Expert Proceedings’ central to Indus Water Treaty in Vienna

Canada under fire for inaction as India seeks extradition of 13 wanted terrorists

Canada under fire for inaction as India seeks extradition of 13 wanted terrorists

India ‘completely different’ from Russia, China: US National Security Adviser Jake Sullivan

India ‘completely different’ from Russia, China: US National Security Adviser Jake Sullivan

‘Canada becoming safe haven for terrorists’: India hits back as diplomatic row intensifies 

‘Canada becoming safe haven for terrorists’: India hits back as diplomatic row intensifies 

Load More

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

Millions of people live with chronic pain, mental problems: Study

Millions of people live with chronic pain, mental problems: Study

Pakistan: Tehreek-e-Labbaik threatens to raze minarets of historic worship place of Ahmadiyya community

Pakistan: Tehreek-e-Labbaik threatens to raze minarets of historic worship place of Ahmadiyya community

Exercise Yudh Abhyas 2023: Indian, US militaries to actively focus on ‘joint interoperability’, best practices

Exercise Yudh Abhyas 2023: Indian, US militaries to actively focus on ‘joint interoperability’, best practices

Uttar Pradesh: Mohd Asim killed ex-girlfriend Ayesha’s grandfather, gets lynched to death by locals in Ambedkarnagar 

Uttar Pradesh: Mohd Asim killed ex-girlfriend Ayesha’s grandfather, gets lynched to death by locals in Ambedkarnagar 

“My Book is a Tribute to Punjabis Dislocated by the Partition”: Dr Ishtiaq Ahmed

“My Book is a Tribute to Punjabis Dislocated by the Partition”: Dr Ishtiaq Ahmed

India highlights ‘people-centric’ approach for Ukraine Crisis; questions effectiveness of UNSC

India highlights ‘people-centric’ approach for Ukraine Crisis; questions effectiveness of UNSC

Anglo-Saxon Dilemma: The expulsion of the diplomat and rants of Justin Trudeau

Anglo-Saxon Dilemma: The expulsion of the diplomat and rants of Justin Trudeau

Madhya Pradesh: Three cases of Love Jihad following same pattern like film, ‘The Kerala Story’ reported in a month

Uttar Pradesh: Shoaib posed as Sourabh to trap Dalit woman, recorded sexual activity to blackmail and convert

New York: G4 member leaders ‘vouch’ for participation of Global South in UNSC, assert reforms

New York: G4 member leaders ‘vouch’ for participation of Global South in UNSC, assert reforms

California: Suvidha International Foundation organise ‘Run for Water’ event; 500 local NRIs take part

California: Suvidha International Foundation organise ‘Run for Water’ event; 500 local NRIs take part

  • Privacy
  • Terms
  • Cookie Policy
  • Refund and Cancellation
  • Delivery and Shipping

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
    • Assam
    • Bihar
    • Chhattisgarh
    • Jharkhand
    • Maharashtra
    • View All States
  • World
    • Asia
    • Africa
    • North America
    • South America
    • Europe
    • Australia
    • Global Commons
  • Editorial
  • Opinion
  • Analysis
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Entertainment
  • More ..
    • Sci & Tech
    • Vocal4Local
    • Special Report
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Politics
    • Law
    • Economy
    • Obituary
    • Podcast
  • Subscribe Magazine
  • Advertise
  • Circulation
  • Careers
  • About Us
  • Contact Us
  • Policies & Terms
    • Privacy Policy
    • Cookie Policy
    • Refund and Cancellation
    • Terms of Use

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies