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KATHMANDU, Jan 9: Lawmakers belonging to the Infrastructure Development Committee under the House of Representatives (HoR) have demanded the government to provide copies of the formal agreement of the long-term Power Trade Agreement (PTA) reached with India.
India's rapidly growing market and economy have made it a lucrative option for developed and developing countries for free trade agreements. A trade deal with India would allow countries to access the Indian market with less or no import duties, giving their companies an advantage.
Economic think tank GTRI has reported that economies like Europe, the UK, Oman and Peru are keen to establish free trade agreements with India due to the country's rapidly growing market. The report suggests that such agreements can provide access to the Indian market with less or no import duties, giving companies an advantage in selling to the Indian market.
British Prime Minister Rishi Sunak is eager to finalize the Free Trade Agreement (FTA) with India by Easter, which falls at the end of March 2024, as per a report from the UK media. The discussions for the India-UK FTA commenced in January of the previous year, with the goal of substantially boosting the existing GBP 36-billion bilateral trade partnership.
UK News: UK Opposition Leader Keir Starmer has compared the UK government's negotiations for a free trade agreement (FTA) with India to the Bollywood movie 'Ka