Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The proposed trade agreement between India and the UK has reportedly been shelved for the upcoming few months, according to sources in the Indian government. The next round of negotiations between the two countries is scheduled to take place in June, while the Model Code of Conduct (MCC) for General Elections is already in place in India.
Even while both sides remain confident of a fair and equitable arrangement, negotiations on difficult areas must be finished before the MCC takes effect in the UK, which is scheduled to hold elections in late 2024.
The Prime Minister's Office examined the progress of the India-UK Free Trade Agreement negotiations last month. The talks started on January 13, 2022, but were repeatedly postponed owing to the changes in UK leadership. About 14 rounds of discussion were concluded, and 21 out of 26 policy areas were finalised by the end of 2023.
A delegation from the UK also visited India in January 2024. Even as negotiators from both sides engaged in rigorous talks on multiple fronts, several contentious issues kept the negotiations from being concluded. Amidst a recession and opposition to immigration and outsourcing in the UK, India sought increased access for IT/ITeS professionals under the FTA. Meanwhile, the UK sought duty concessions on imported cars and scotch whisky, which was opposed by the Indian alcohol industry.
Also Read : Stainless Steel Drum Market Grows on Rising Demand from Chemical and Pharma Industries Iron Ore Falls as China Steel Body Confirms Production Cuts
Iron ore futures surged to their highest level in three months, as traders welcomed China's latest s...
Ferrous 21-May-2024
China's state planner has issued a strategy for the electric power system to more effectively respon...
China 27-Feb-2024
JSW Steel reported a 12% year-on-year increase in consolidated crude steel output to 6.87 million to...
Ferrous 10-Jan-2024
The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone for mul...
Press Releases 01-Mar-2024
The Technology Development Board (TDB), under the Department of Science and Technology (DST) mention...
Notification 04-Apr-2024
PM Modi called for zero imports and net exports in India’s steel sector. Emphasized sustainab...
Announcement 24-Apr-2025