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ToR Being Finalised to Restart FTA Negotiations India and Canada are engaged in finalising the terms of reference to formally begin negotiations for a free trade agreement, Commerce Secretary Rajesh Agrawal said on Thursday. The two sides are working to complete the framework that will define the scope and modalities of the proposed trade pact.According to Agrawal, both countries are hopeful of concluding the terms of reference soon, which would allow negotiations to formally commence on a mutually beneficial trade agreement.Talks to Resume From the Beginning India and Canada had earlier been negotiating a trade pact, but discussions were paused by Canada in 2023. With significant changes in the global trade environment over the...

India Monitoring Impact of US Tariff Announcement on Iran-Linked Trade India on Thursday said its exports to Iran are largely humanitarian in nature and that it is awaiting details of a US executive order before assessing the implications of the proposed 25 percent tariff announced by US President Donald Trump on countries doing business with Tehran.Earlier this week, the US President said in a social media post that any country conducting business with Iran would face a 25 percent tariff on all trade with the United States, with immediate effect. Indian authorities said the specific contours of the move would become clear only after the formal executive order is issued.Limited and Humanitarian Trade Exposure Commerce Secretary...

Negotiations Cover Nearly All Pending Issues India and the United States are very close to finalising a long-awaited bilateral trade agreement, with discussions now covering almost all outstanding issues, Commerce Secretary Rajesh Agrawal said on Thursday. He indicated that while negotiations are at an advanced stage, there is no fixed timeline for an official announcement.According to Agrawal, both sides remain fully engaged in the process and continue to hold discussions across all key areas. He stressed that the agreement will be announced only when both countries feel the timing is right.Engagement Has Remained Continuous Agrawal said that trade talks between India and the US have never broken down, adding that engagement has...