Page 3 - Latest Updates on India UK Free Trade deal

India seeks UK cooperation to bring economic offenders to justice

India and the UK agree on joint efforts to tackle corruption, economic crime, and illegal migration, while exploring new opportunities for trade and defence collaboration

India-UK FTA to open new opportunities for textiles, boost footwear exports

The India-UK free trade agreement is expected to significantly boost India's textile and footwear exports, unlocking Rs 7,000 crore in additional business and accelerating growth in the sector

'Plan for shared prosperity': PM Modi hails historic FTA with Britain

PM Modi said that the Free Trade Agreement (FTA) with the UK will especially benefit Indian youth, farmers, fishermen and MSME sector

FTA, UK-India Vision 2035 mark shift in bilateral ties: Foreign secy Lammy

Besides a "significant and comprehensive" Free Trade Agreement (FTA) to be signed between Prime Ministers Narendra Modi and Keir Starmer, an ambitious new UK-India Vision 2035 agreement will also be agreed between the leaders on Thursday to mark a "step-change" in bilateral ties for the next decade, UK Foreign Secretary David Lammy has said. In an interview with PTI to coincide with Modi's visit to the UK, the senior UK Cabinet minister said the pact will build on the FTA to unlock new opportunities that strengthen defence cooperation and drive innovation between both economies. Lammy said the UK is thrilled that Prime Minister Modi is visiting to sign the FTA, the most significant bilateral trade deal for Britain since leaving the European Union (EU) and the most comprehensive agreement India has ever signed. The UK-India Free Trade Agreement (FTA) will naturally be a central focus, a testament to the strength of our partnership, said Lammy. It's projected to boost bilateral trade

PM Modi begins 2-day visit to Britain; to witness signing of India-UK FTA

Prime Minister Narendra Modi on Wednesday kick-started his two-day visit to the UK to expand the bilateral ties in areas of defence, trade and technology, with the formalisation of the landmark India-UK free trade deal set to be a major outcome of his trip. The Prime Minister was received at the airport by UK Foreign Office Minister in charge of the Indo-Pacific Catherine West along with Indian High Commissioner to the UK Vikram Dorsaiswami and British High Commissioner to New Delhi Lindy Cameron. Modi will hold wide-ranging talks with his British counterpart Keir Starmer on Thursday that is expected to focus on imparting a new momentum in the strategic ties between the two countries. Starmer is set to host Modi for the talks at Chequers, the official country residence of the British prime minister that is located 50 km northwest of London. Modi was greeted by cheering groups of community leaders, students and parliamentarians gathered in anticipation on the outskirts of London. Th

Gokaldas, Vardhman, Siyaram rally up to 8%. What's driving textile stocks?

Textile shares outlook: Analysts expect the Indian textile sector to benefit if India manages to sign a favourable trade deal with the US.

FTA with India brings genuine' competitive advantage, UK Parliament told

The Free Trade Agreement (FTA) negotiations concluded with India places the UK at a genuine competitive advantage in the manufacturing sector, the House of Commons was told this week. During a debate on the bilateral FTA agreed last month, UK Business and Trade Secretary Jonathan Reynolds fielded a series of questions on the advantages of the deal which has been pegged to increase bilateral trade by GBP 25.5 billion annually in the long term. Reynolds reiterated that the pact marked a huge economic win for the UK as the best deal that India has ever offered. On advanced manufacturing a set of advantageous positions has been agreed, putting this country at a genuine competitive advantage, particularly in relation to sectors such as automotive and machinery, said Reynolds, in response to a question by British Sikh Labour MP for Smethwick, West Midlands, Gurinder Singh Josan. India is traditionally a very protectionist economy, and it is the world's fastest growing big economy. Whethe

British Airways plans new India flights, eyes cargo opportunities from FTA

British Airways, which has been flying to India for more than 100 years, will look to further expand routes and frequency of flights as well as tap the cargo opportunities from the India-UK free trade agreement, the airline's Chairman and CEO, Sean Doyle has said. Currently, the airline operates 56 flights a week from five Indian cities, including three-weekly flights from Mumbai, double daily services from Delhi. It also has daily flight from Chennai, Bengaluru and Hyderabad. In an exclusive interview to PTI, Doyle said India is a "very, very important" market for British Airways and hopes to continue with expansion in the future in terms of both routes and flight frequencies. From October this year, the airline is set to re-introduce first class seats in one of the flights in the Mumbai-London Heathrow route, after a gap of nearly five years. "I think we want to be part of the growth of aviation in India. We have been part of it for 100 years... about 2,500 people work for Britis

Gokaldas Exports slips 10% in 2 days post Q4 results; time to buy?

The management said there is a considerable amount of effort required to improve the margins further over the next few years as the company continue to consolidate and grow the business

Diageo to cut Scotch prices in India as UK FTA halves import duties

Duties on UK-made whisky and gin will drop from 150% to 75%, and then to 40% over 10 years under India-UK Free Trade Agreement; Diageo to pass on savings

UK FTA: India may leave Pakistan, Türkiye behind in textile exports

India's apparel and home textiles shipments to the UK attract an 8-12 per cent import duty, that would be scrapped under the FTA expected to come into force in calendar year 2026

India-UK FTA to boost JLR performance, future car access: Tata Motors CFO

The India-UK free trade agreement augurs well to keep driving JLR's performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster, Tata Motors Group CFO PB Balaji said on Tuesday. On the other hand, further details and clarifications are needed to fully understand the impact on JLR after the US-UK trade deal that reduced US trade tariffs on auto exports from the UK to 10 per cent from 27.5 per cent within a quota of 1 lakh vehicles, Balaji said in an earnings call. "As far as India-UK FTA is concerned, it is a great development and augurs well for JLR...At the same time, we also wait when the FTA actually comes into force, but we believe this is going to benefit the future cars that are going to come, which means customers will be able to access these global cars and global prices much faster because of this FTA," he said. Therefore, Balaji said, "It augurs very well for continuing to drive JLR performance in India goin

India rejects UK's data exclusivity demand in FTA to shield generics

India has not accepted the demand of the UK for inclusion of a 'data exclusivity' provision in the free trade agreement, announced on May 6, in a bid to protect the interests of the domestic generic drugs industry, an official said. During the negotiations, the UK had asked to include this provision in the trade pact. "But India has not accepted that. There is no fear for the Indian generic industry from this agreement. In fact, it is our very important objective to see that the generic drug industry flourishes," the official said. The sector plays a key role in India's exports, which are also growing. Data exclusivity provides protection to the technical data generated by innovator companies to prove the usefulness of their products. In the pharmaceutical sector, drug companies generate data through expensive global clinical trials to prove the efficacy and safety of their new medicine. By gaining exclusive rights over this data, innovator companies can prevent their competitors

BTAs are the way to go in the new world order: CII President Sanjiv Puri

Puri said that the India-UK Free Trade Agreement (FTA) has set a template for future deals and will create opportunities for India to build alternate supply chains

Statsguru: India-UK FTA set to boost British investment prospects

The FTA has come at a time when the economic relations between India and the UK are growing, with their bilateral trade at roughly $60 billion, and projected to double by 2030

India, UK deal in time of US trade talks: Long-pending FTA finally sealed

The India-UK FTA is being touted as a modern, and the most comprehensive agreement that India has signed till now - comprising non-trade issues such as gender, labour, anti-corruption, sustainability

India-UK FTA a positive step; car prices unlikely to change: BMW, Mercedes

Mercedes-Benz and BMW have termed the India-UK free trade agreement (FTA) a positive development while noting that it would not have much bearing on the prices of luxury cars in the country. Last week, India and the UK sealed a landmark FTA that will lower tariffs on 99 per cent of Indian exports and would make it easier for British firms to export whisky, cars and other products to India, besides boosting the overall trade basket. The aim is to double two-way commerce by 2030 from the present USD 60 billion India has included adequate safeguards in the agreement to protect its sensitive sectors and in the automobile segment, the import duty will be reduced over 10-15 years. The duty concession on imports of petrol and diesel engine vehicles from the UK is limited to a pre-defined quota. "Fundamentally, we have always advocated free trade as a multinational company, because we feel that free trade helps in better growth... So I think for us, definitely it's a real welcome move, ...

India must ensure balanced, reciprocal terms in US trade deal: GTRI

India should take cues from the US-UK trade pact and exercise caution while negotiating an agreement with America to ensure that the deal is reciprocal, balanced, and not driven solely by political considerations, economic think tank GTRI said on Saturday. The limited trade deal announced between the US and UK on May 8 offers clues about the kind of trade arrangements Washington may pursue with other major partners, most notably India, the Global Trade Research Initiative (GTRI) said. A closer look reveals that while the UK has made sweeping tariff concessions to America, the US has offered far less in return, it added. "If the UK-US deal sets the template, India can expect growing US pressure to finalise a mini-deal of its own - focused on tariff cuts and key strategic commitments rather than a full free trade agreement (FTA) that may come much later," the think tank said. It also cautioned that India may be asked to reduce tariffs on a basket of sensitive agricultural products, .

Jaguar Land Rover, Diageo among winners as UK-India sign model trade deal

Free Trade Agreement announced after three years of negotiations, will make it cheaper for UK firms to sell their whiskeys, cars, auto parts, cosmetics, biscuits, clothes and electrical machinery

Double contribution deal won't spur a spike in Indian IT workers sent to UK

Despite tax savings from UK-India FTA's social security waiver, analysts say high costs and limited incentives may not significantly boost Indian IT deployments to the UK