"The Trade and Economic Partnership Agreement (TEPA) between India and EFTA covers wide-ranging matters such as trade in goods and services, rules of origin, intellectual property rights (IPR), investment promotion, trade facilitation, and sustainable development," a source elaborated.

“It is possible that that will be done but I am very resistant to deadlines being set on trade negotiations because it runs down the clock. It is very possible that we can sign but I am not using it as a deadline for the work that I am carrying out basically,” she said.

Bilateral trade between India and the UK has been on an upward trajectory, reaching $20.36 billion in fiscal year 2023 from $17.5 billion in fiscal year 2022. Both nations are committed to fostering a comprehensive and mutually beneficial trade relationship.

After traversing a 130-kilometer overland transmission line in India, the undersea cable will emerge at Thiruketheeswaram in Mannar, northeast Sri Lanka, via a submarine cable. This ambitious initiative is poised to enhance energy security in Sri Lanka, a crucial aspect highlighted by Jayawardena.

From India's perspective, the focus lies on securing reduced tariffs on exports to Oman, spanning an array of sectors including rice, pharmaceuticals, petroleum, and steel. Additionally, India aims to facilitate easier access for its professionals, including doctors, nurses, engineers, and other skilled workers, into the Omani market.

Speaking at a session on 'India-Brazil Fostering Trade Partnership - Focus West Bengal' organised by the Bharat Chamber of Commerce here, the diplomat emphasised on business-to-business collaborations in iron and steel, milk production, leather, biofuels, and aquaculture.

DPIIT Secretary Rajesh Kumar Singh,addressed the India-Singapore Trade Roundtable on the Food and Machinery Sector, organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the High Commission of India in Singapore, in partnership with the Singapore Business Federation.

The two leaders were meeting on the sidelines of the prestigious Munich Security Conference, in its 60th edition, which is the world’s leading forum for debate on international security. 

2023 marked a year of achievements and harvest for both countries, Kong said, adding, "It is the extensive cooperation between our people that makes it happen.” 

The MoU shall come into effect from the date of signature of the Parties and shall remain in force for a period of 3 years. Both G2G and B2B bilateral Cooperation in the field of Information Technology will be enhanced.

The visit comes amidst the ongoing negotiations for multi-billion dollars deals involving French fighter jets and submarines for the Indian Military. Officials from both New Delhi and Paris have emphasized that the visit is more ceremonial than substantive, with no major outcomes expected.

Several initiatives and endeavours were rolled out as a component of this summit. A report on the CII India-UAE start-up initiative titled “Unlocking opportunities: India-UAE startup ecosystem convergence” was launched.