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‘India won’t sign any trade deal with a gun to head’: Piyush Goyal’s clear message amid talks with US, EU; ‘will reject restrictive conditions’ – The Times of India
At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade deal will be signed in a hurry. “We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry and we do not do deals with deadlines or with a gun to our head,” Goyal said at the Berlin Global Dialogue according to a Reuters report. Goyal said that India will not rush into any trade deals. He also said that any conditions that may be set by partner countries that restrict India’s trading options will be rejected.
The EU-India free trade agreement discussions continue, but there are unresolved matters concerning market accessibility, environmental protocols, and origin regulations. These negotiations have been ongoing for an extended period.Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit – explainedAlongside these talks, India is also actively pursuing trade deal discussions with several countries, including the United StatesGoyal’s comments come at a time when India is facing pressure from the Donald Trump administration and the European Union for its continued purchases of Russian crude oil. The US has imposed 50% tariffs on Indian exports to America, 25% of which are penal duties for India’s crude oil trade with Russia.The European Union, United Kingdom and United States are urging New Delhi to reduce its imports of Russian crude at discounted rates, which Western countries allege supports Moscow’s military operations in Ukraine.India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases based on the interests of Indian consumers.US President Donald Trump has claimed that PM Narendra Modi has committed to reducing Russian crude oil trade, but no official word on the same has come from India’s side. Meanwhile, Trump has this week imposed sanctions on two major Russian crude suppliers – Rosneft and Lukoil – a move that may eventually force China and India to reduce their procurement of Russian oil.Also Read | No oil from Russia soon? Trump sanctions to hit India’s crude imports; ‘all but impossible for flows to continue’
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Asda boss rejects profiteering claims as petrol price tops 150p
Motorists are facing higher fuel prices ahead of Easter break due to the conflict in the Middle East, the RAC says.
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Hetero rolls out generic semaglutide exports to over 75 countries – The Times of India
Hyderabad: Pharma player Hetero on Friday said it has rolled out exports of its generic semaglutide injection portfolio as part of a multi-year plan to widen access to treatments for type 2 diabetes and obesity in more than 75 countries.The Hyderabad-based pharmaceutical company said initial rollouts are under way in Africa, Asia and the Middle East, with additional launches planned in other markets subject to regulatory approvals.The injectable therapies will be sold under the brand names Truglyx, Rolmodl and Moto G. Semaglutide belongs to the GLP-1 class of medicines, which are used in diabetes care and weight management.Hetero said the export launch is part of its broader strategy to improve access to advanced cardio-metabolic therapies, particularly in emerging markets.The company said the products will be offered in multi-dose disposable pen devices designed in line with innovator formats and will be available in several strengths, including 0.25 mg, 0.5 mg, 1 mg, 2 mg, 1.7 mg and 2.4 mg, allowing dosing flexibility for both diabetes and obesity treatment.Hetero said it is also awaiting approval from India’s Central Drugs Standard Control Organisation (CDSCO) after completing clinical trials in type 2 diabetes and obesity and plans an India launch after regulatory clearance.Hetero managing director Dr Vamsi Krishna Bandi said the company aims to provide high-quality, affordable generic semaglutide through a single global product platform backed by its manufacturing and development capabilities.He said Hetero would use its commercial networks across Asia, the Middle East, Africa and Latin America to support supply and access. The Hyderabad-headquartered Hetero operates in more than 145 countries and employs over 30,000 people.
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India-US trade deal update: Piyush Goyal meets USTR Jamieson Greer, discusses next steps in BTA talks – The Times of India
Commerce and industry minister Piyush Goyal on Friday met US Trade Representative Jamieson Greer and reviewed the next steps in negotiations for the proposed India-US bilateral trade agreement (BTA).The meeting took place on the sidelines of the 14th ministerial conference (MC14) of the World Trade Organisation in Yaounde, Cameroon, where both sides also exchanged views on issues related to the WTO agenda.“Had a very productive discussion with @USTradeRep Jamieson Greer on the sidelines of the WTO Ministerial Conference. Exchanged views on the #WTOMC14 agenda, next steps in the India-US BTA negotiations and explored ways to further deepen our economic cooperation and bilateral trade ties,” Goyal said in a social media post.The development comes amid ongoing efforts by both countries to finalise an interim trade pact. Last month, India and the US announced that they had finalised a framework for the first phase of the agreement, though it is yet to be signed.The two sides had earlier announced a trade deal on February 2, followed by a joint statement on February 7 outlining the contours of the agreement.As part of the framework, the US had agreed to reduce tariffs on Indian goods to 18%. However, the tariff structure has since undergone changes after the US Supreme Court struck down sweeping tariffs imposed under earlier measures.Following the ruling, US President Donald Trump introduced a 10% tariff on all countries for a period of 150 days starting February 24.In view of these developments, a planned meeting between chief negotiators of India and the US — aimed at finalising the legal text of the agreement — has been postponed. The pact was earlier expected to be signed this month.An official had earlier said that the interim trade agreement would be signed once the new global tariff framework of the US is fully in place.
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