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India’s Free Trade Deal With Europe To Take Effect From October 1, Says Piyush Goyal

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India’s Free Trade Deal With Europe To Take Effect From October 1, Says Piyush Goyal


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Goyal said the deal, which was finalised in March 2024, marks another major step in India’s global trade strategy

Union Commerce Minister Piyush Goyal (Image: PTI/File)

Union Commerce Minister Piyush Goyal (Image: PTI/File)

India’s Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) countries — Switzerland, Liechtenstein, Norway and Iceland — will officially come into effect from 1 October 2025, Union Minister of Commerce and Industry Piyush Goyal announced on Monday.

Speaking at the valedictory session of the UP International Trade Show, Goyal said the deal, which was finalised in March 2024, marks another major step in India’s global trade strategy.

“Free Trade Agreement (FTA) with the EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), which was finalised in March 2024, will come into effect from October 1, 2025,” he said, referring to the EFTA bloc.

This agreement adds to a growing list of trade pacts signed by India in recent years, including with the UAE, Australia, and the UK. Goyal said India is currently negotiating similar agreements with 27 other countries, including the United States, the European Union and Peru. He also confirmed that terms for a pact with the Eurasian Economic Union have already been finalised.

“Countries around the world, including developed nations, are eager to sign free trade agreements with India,” he said.

The minister also spoke about the transformation of India’s economy since 2014. He noted that foreign exchange reserves have reached USD 700 billion, nearly three times more than what the current government inherited. He predicted that within the next two years, India would become a USD 5 trillion economy, making it the third largest economy in the world.

Highlighting recent economic performance, Goyal said India’s GDP grew 7.8% in the last quarter, while inflation dropped to 2%, the lowest since independence. “In the last ten years under Prime Minister Modi, India has seen the lowest average inflation,” he said.

Reflecting on the state of the economy in 2014, he reminded the audience that India was once labelled as part of the “Fragile Five” economies.

“Earlier, government resources like 2G spectrum, coal mines, iron ore mines, contracts, used to be handed over to relatives, associates, or party members. Modi ji ensured that everything is now given only through transparent auctions,” Goyal added.

(With inputs from ANI)

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BrewDog owners say craft beer company could be sold off

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BrewDog owners say craft beer company could be sold off



Craft beer brand BrewDog could be sold off after the company started the process to find new investors.

The Scottish beer brand recently announced plans to close all of its distilling brands, meaning it would no longer produce any of its spirits, including Duo Rum, Abstrakt Vodka, and Lonewolf Gin, at its distillery in Ellon, Aberdeenshire.

The company, which was founded in 2007, said it made the decision to focus on its beer brands, including the highly-popular Punk IPA, Elvis Juice, and Hazy Jane.

Now, in a statement, a spokesperson for BrewDog said the company had appointed Alix Partners to “support a structured and competitive process to evaluate the next phase of investment for the business.”

The statement said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company.

“Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business. This is a deliberate and disciplined step with a focus on strengthening the long-term future of the BrewDog brand and its operations.”

Although no decisions have been made, a sale is under consideration.

In a statment BrewDog added: “BrewDog remains a global pioneer in craft beer: a world-class consumer brand, the No.1 independent brewer in the UK, and with a highly engaged global community. We believe that this combination will attract substantial interest, though no final decisions have been made.”

According to reports by Sky News, AlixPartners had begun sounding out prospective buyers in the last few days.

The company, which has 72 bars worldwide and four breweries in Scotland, the US, Australia, and Germany, said its breweries, bars, and venues will continue to operate as normal. It employs 1400 people across the organisation.

BrewDog’s founders James Watt and Martin Dickie are the company’s major shareholders alongside private equity company TSG, which invested £213 million in 2017, making it a 21 per cent shareholder.

In 2024, the beer brand grossed £357 million in sales, and it is a major independent brewer with 4 per cent market share in the UK grocery market.



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Craft beer brewer BrewDog could be broken up as sale process begins

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Craft beer brewer BrewDog could be broken up as sale process begins



Beermaker BrewDog could be broken up after consultants were called in to help look for new investors.

The Scotland-based brewer, which makes craft beer such as Punk IPA and Elvis Juice, has appointed consultants AlixPartners to oversee a sale process.

Last month, BrewDog announced it was closing its distilling brands, sparking concerns for jobs at its facility in Ellon, Aberdeenshire.

The company, which was founded in 2007, said it made the decision to focus on its beer products.

No decision has been made in respect of the sale process.

A spokesperson for BrewDog said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company.

“Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business.

“This is a deliberate and disciplined step with a focus on strengthening the long-term future of the BrewDog brand and its operations.

“BrewDog remains a global pioneer in craft beer: a world-class consumer brand, the number one independent brewer in the UK and with a highly engaged global community.

“We believe that this combination will attract substantial interest, though no final decisions have been made.

“Our breweries, bars, and venues continue to operate as normal. We will not comment on any further speculation.”

Brewdog operates 72 bars around the world as well as four breweries.



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‘Better to abolish RERA’: Supreme court says law helping defaulting builders

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‘Better to abolish RERA’: Supreme court says law helping defaulting builders


New Delhi: The Supreme Court has raised serious concerns over how real estate regulatory authorities are functioning across the country. Taking a sharp view, the top court said it may be “better to abolish” these bodies, suggesting they have failed to protect homebuyers and instead appear to benefit defaulting builders. The court added that states should reconsider the very need for such authorities if they are not serving their intended purpose.

A Bench led by Chief Justice of India Surya Kant and Justice Joymalya Bagchi said states should rethink the original purpose behind introducing RERA. The court observed that instead of protecting homebuyers, the law appears to be helping defaulting builders and not serving its intended role.

Expressing strong concern, CJI Surya Kant said states should reflect on the purpose for which RERA was created. He suggested the institution is failing to serve homebuyers and instead appears to benefit defaulting builders. “All states should now think of the people for whom the institution of RERA was created. Except facilitating builders in default, it is not doing anything else. Better to just abolish this institution,” CJI Kant said, quoted by Bar and Bench.

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Last year, the High Court had stayed the state government’s decision to shift the RERA office, pointing out that the move was taken “without even identifying an alternative office location”. The court also noted that transferring 18 outsourced employees to other boards and corporations, as requested, “would render the functioning of Rera defunct”.

The Supreme Court, however, set aside the High Court’s order and allowed the state government to shift the RERA office to Dharamshala. It also permitted the relocation of the appellate tribunal to the same location. “With a view to ensure that persons affected by Rera orders are not inconvenienced, the principal appellate is also moved to Dharamshala,” the apex court said.

What Is RERA And Why It Matters

RERA, introduced in 2016, was aimed at addressing project delays, improving transparency and safeguarding homebuyers’ interests. Earlier, each state and union territory operated its own RERA website. However, in September 2025, the Ministry of Housing and Urban Affairs launched a unified RERA portal that brings together data from across states and UTs on a single platform.



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