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What is the story about?
Commerce and Industry Minister Piyush Goyal on Wednesday, December 10, said that India’s negotiations for free trade agreements (FTA) with Oman and New Zealand are in their final stages and expected to be concluded soon. He was in Jaipur to participate in the Pravasi Rajasthani Divas when he made these remarks. Goyal expressed optimism that the agreements would be finalised shortly, marking a significant milestone in India’s trade engagements.
He noted that New Zealand Trade Minister Todd McClay will visit New Delhi for the last round of discussions, which are set to significantly boost bilateral trade, currently around $1.5 billion, and enhance cooperation in agri-technology, science and innovation.
Goyal also highlighted that talks with Chile are nearing completion, and that India and Israel have appointed chief negotiators after signing the Terms of Reference to formally launch FTA negotiations. Emphasising India’s growing appeal as a trade and investment destination, he added that several countries are keen to establish trade pacts with the country.
India-Chile Agreement
India is poised to sign a free trade agreement with Chile, following constructive negotiations under the recently completed fourth round of talks. Key areas covered include market access, trade in goods and services, investment promotion, rules of origin, intellectual property rights and critical minerals.
The pact is expected to secure India’s access to strategic minerals like lithium, copper and molybdenum, while providing Chile with better access to India’s growing market. India had offered tariff concessions on products including meat, fish, chemicals, leather, and industrial goods, while Chile offered preferences on agricultural products, textiles, footwear and industrial items.
Officials expect the FTA to strengthen trade flows and long-term supply chain stability for both countries.
Read more: India shares market-access offer with Chile, but FTA talks to take some time: Govt sources
India-Israel Trade
Following the signing of Terms of Reference (ToR), India and Israel have appointed chief negotiators to commence the first phase of FTA discussions.
The agreement aims to enhance economic engagement, enabling Indian and Israeli businesses to explore investment opportunities and deepen cooperation in infrastructure, manufacturing, and artificial intelligence.
India-Oman Agreement
India is on the verge of finalising an FTA with Oman, which could significantly boost bilateral trade and investment flows. The negotiations for the India-Oman Comprehensive Economic Partnership Agreement (CEPA) began in November 2023, with high-level discussions on trade, investment, technology, food security and renewable energy.
Bilateral trade between the two countries stood at approximately $10.5 billion in 2024-25, with India exporting goods worth $4 billion and importing around $6.54 billion from Oman. An official announcement is expected soon.
India-New Zealand Deal
India and New Zealand are in the final stages of negotiating a free trade agreement, with Commerce Minister Piyush Goyal expressing optimism that it will be concluded shortly.
Both nations are addressing remaining nuances in a spirit of accommodation. The FTA is expected to significantly enhance trade, currently at $1.5 billion, and foster collaboration in agri-technology, science, and innovation.
New Zealand Trade Minister Todd McClay noted that trade could potentially expand to $20 billion with proper rules in place, highlighting opportunities for Indian businesses in New Zealand and vice versa.
Read more: India, EU to sustain momentum in bilateral talks with strong political resolve for FTA
India-Italy Talks
As part of his ongoing international engagements, Goyal is set to meet Italy’s Deputy Prime Minister and Minister of Foreign Affairs Antonio Tajani in Mumbai tomorrow, December 11.
Tajani’s three-day visit to India, including talks with External Affairs Minister Dr S Jaishankar in New Delhi, aims to strengthen the India-Italy Strategic Partnership.
He noted that New Zealand Trade Minister Todd McClay will visit New Delhi for the last round of discussions, which are set to significantly boost bilateral trade, currently around $1.5 billion, and enhance cooperation in agri-technology, science and innovation.
Goyal also highlighted that talks with Chile are nearing completion, and that India and Israel have appointed chief negotiators after signing the Terms of Reference to formally launch FTA negotiations. Emphasising India’s growing appeal as a trade and investment destination, he added that several countries are keen to establish trade pacts with the country.
India-Chile Agreement
India is poised to sign a free trade agreement with Chile, following constructive negotiations under the recently completed fourth round of talks. Key areas covered include market access, trade in goods and services, investment promotion, rules of origin, intellectual property rights and critical minerals.
The pact is expected to secure India’s access to strategic minerals like lithium, copper and molybdenum, while providing Chile with better access to India’s growing market. India had offered tariff concessions on products including meat, fish, chemicals, leather, and industrial goods, while Chile offered preferences on agricultural products, textiles, footwear and industrial items.
Officials expect the FTA to strengthen trade flows and long-term supply chain stability for both countries.
Read more: India shares market-access offer with Chile, but FTA talks to take some time: Govt sources
India-Israel Trade
Following the signing of Terms of Reference (ToR), India and Israel have appointed chief negotiators to commence the first phase of FTA discussions.
The agreement aims to enhance economic engagement, enabling Indian and Israeli businesses to explore investment opportunities and deepen cooperation in infrastructure, manufacturing, and artificial intelligence.
India-Oman Agreement
India is on the verge of finalising an FTA with Oman, which could significantly boost bilateral trade and investment flows. The negotiations for the India-Oman Comprehensive Economic Partnership Agreement (CEPA) began in November 2023, with high-level discussions on trade, investment, technology, food security and renewable energy.
Bilateral trade between the two countries stood at approximately $10.5 billion in 2024-25, with India exporting goods worth $4 billion and importing around $6.54 billion from Oman. An official announcement is expected soon.
India-New Zealand Deal
India and New Zealand are in the final stages of negotiating a free trade agreement, with Commerce Minister Piyush Goyal expressing optimism that it will be concluded shortly.
Both nations are addressing remaining nuances in a spirit of accommodation. The FTA is expected to significantly enhance trade, currently at $1.5 billion, and foster collaboration in agri-technology, science, and innovation.
New Zealand Trade Minister Todd McClay noted that trade could potentially expand to $20 billion with proper rules in place, highlighting opportunities for Indian businesses in New Zealand and vice versa.
Read more: India, EU to sustain momentum in bilateral talks with strong political resolve for FTA
India-Italy Talks
As part of his ongoing international engagements, Goyal is set to meet Italy’s Deputy Prime Minister and Minister of Foreign Affairs Antonio Tajani in Mumbai tomorrow, December 11.
Tajani’s three-day visit to India, including talks with External Affairs Minister Dr S Jaishankar in New Delhi, aims to strengthen the India-Italy Strategic Partnership.
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