Page 7 - India Uk Relation

FTA with Britain, EU will be a game changer for domestic industry: AEPC

The proposed free trade agreement with the UK and the European Union will be a game changer for the domestic industry and will offer a huge advantage for apparel exporters, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said that trade pacts with the UAE, Australia and Japan are providing market access for the sector. "The FTA with the UK will be a game changer for the industry, and the EU will offer a big advantage if we sign an FTA deal," he said. The negotiations for the trade agreement with the UK are in the last stage and talks with the EU are moving at a faster pace. He also said that one of the major issues regarding the poor export competitiveness of Indian apparel is poor economies of scale. The apparel industry comprises 80 per cent of exporters with around Rs 10 crore turnover and the average number of machines in Indian apparel manufacturing units is 250-400, whereas competing countries have an average of 800- 1000 machines. "Also

HSBC India, UK Export Finance tie up for 100 mn pound financing programme

HSBC India and UK Export Finance (UKEF), the UK's export credit agency, have intended to establish a financing programme of up to 100 million pound to support Indian Micro, Small and Medium Enterprises (MSMEs) and corporates for financing their imports from Britain. This partnership will enhance the availability of credit for Indian MSMEs and boost trade ties between the two countries, HSBC India said in a statement on Thursday. HSBC India and UKEF on Thursday signed a Letter of Intent (LoI), which enables them to work together on opportunities relating to UKEF's guarantee-backed structures. India was the UK's 12th largest trading partner in the four quarters to the end of Q2 2023, accounting for 2.1 per cent of total UK trade. In 2021, around 7,500 UK SMEs, with around 3,17,300 employees, exported goods worth 1.2 billion pound to India, accounting for 85 per cent of all UK businesses exporting goods to India. Providing enhanced financial access and developing an ecosystem that ..

'Kabhi Khushi Kabhie Gham': UK Opposition leader Starmer on FTA with India

The UK's Opposition Leader Keir Starmer has described the ups and downs of the government's negotiations towards a free trade agreement (FTA) with India as Kabhi Khushi Kabhie Gham' and committed the Labour Party to pursuing an "always happy" bilateral relationship. During his speech at a Diwali celebration in the Houses of Parliament complex in London organised by the British Indian think tank 1928 Institute last week, Starmer referenced the Bollywood box-office hit which translates as sometimes happy, sometimes sad. India and the UK are currently in the 14th round of FTA negotiations to enhance the GBP 36-billion bilateral trading partnership, with several expected completion points having passed. We will be rebuilding Britain's reputation on the international stage and that means a new strategic partnership with India, said Starmer. The Tories are working on a free trade agreement, I think. It's all a bit stop-and-start. In fact, you could almost call the negotiations Khabi Kushi

Next round of India, UK talks for free trade agreement expected soon

Chief negotiators of India and the UK are expected to soon hold next round of talks for the proposed free trade agreement to iron out differences on issues such as automobiles, medical devices, and movement of professionals, an official said. The official said that the UK team may come here for the 14th round of negotiations so that the talks can be concluded at the earliest. "Virtual sessions are progressing. But we are planning for a full fledged round of talks. In the full round, both sides discuss all the chapters. Some 60-70 sessions happen parallelly," the official, who did not wish to be named, said. Issues which need resolution include rules of origin; intellectual property rights (IPRs); social security agreement; duty concessions on electric vehicles, scotch whiskey, lamb meat, chocolates and certain confectionary items; liberalisation of norms in services sectors like banking and insurance. Talks are also progressing on the proposed bilateral investment treaty (BIT). Th

EAM Jaishankar meets former British premier Blair, discusses bilateral ties

External Affairs Minister S Jaishankar on Monday met former British prime minister Tony Blair here and discussed bilateral ties, the West Asia situation and Africa. Jaishankar is on a five-day official visit to the UK with an aim to review various aspects of bilateral ties and give "new impetus to the friendly ties". "Nice to catch up with former UK PM Tony Blair this morning. Discussed our bilateral ties, the West Asia situation and Africa," Jaishankar said in a post on X. Blair served as British premier from 1997 to 2007 and as envoy for the Middle East Quartet comprising the UN, the US, the European Union, and Russia from 2007 to 2015. The Quartet, established to help mediate Israeli-Palestinian peace negotiations, has been largely inactive in recent years. According to Israeli media reports, Tel Aviv is seeking to appoint Blair as a humanitarian coordinator for the war-torn Gaza Strip. On Sunday, British Prime Minister Rishi Sunak and his wife Akshata Murty hosted Jaishankar

UK to add India as 'safe state' to cut asylum claims amid migrant crisis

With this addition, all asylum claims from Indian nationals who arrive on small boats or illegally on other routes will be deemed inadmissible. There will be no appeals and they will be sent back.

The Diwali deadline

India-UK FTA needs to be expedited

UK-India FTA: Electric vehicles market access sparks differences

The UK government has asked India to allow exporting a limited number of fully assembled EVs to India with no customs duty

G20 Summit 2023: UK PM Rishi Sunak shares his vision for UK-India relations

UK Prime Minister Rishi Sunak speaks about his family's Indian origins, deepening bilateral relationships and potential collaborations between the two nations. Here are the highlights

Goyal, UK SoS Trade Bandenoch discuss further boosting trade relations

While appreciating the efforts of both the CNs, the Ministers desired a good pace of exchanges to be continued with a better understanding of each other's aspirations and sensitivities

Trend line on India-UK FTA very positive, says High Commissioner Doraiswami

Ahead of the 12th round of the India-UK free trade agreement (FTA) negotiations starting in New Delhi on Wednesday, the Indian High Commissioner to the UK has expressed optimism that officials on both sides will be able to get something working and find a right fit towards a mutually beneficial pact. High Commissioner Vikram Doraiswami told PTI that he is positive as both countries seem keen to make necessary adjustments, recognising the complexities involved with the very different structures of the two similar-sized economies. On the wider bilateral partnership, he expressed similar optimism around an "obvious synergy" across different sectors. I'm positive about it (FTA) My intention is that to the extent we can, we would like a mutually beneficial forward-looking FTA to be concluded, said the High Commissioner. I believe both sides are keen on making the necessary adjustments. Even though we're both similar-sized economies, we are dissimilar in the structures of our economies a

Govt hopes to close India-UK free trade agreement issues by month-end

The 12th round of talks between the countries is in progress here and is expected to continue until at least 28 August

Demand on data-related issues, concessions on dairy out of India-UK FTA

Protecting the interest of domestic players, India has kept demands of Britain on data related issues and giving any kind of duty concessions on dairy sector out of the ambit of the proposed free trade agreement being negotiated between the two countries, sources said. However, India is looking at providing duty concessions on auto, and certain confectionery items, they said. The negotiation for the agreement has reached a critical stage and in all likelihood it could be concluded by October end or November. The talks received a great impetus due to the recent visit of Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal to London in July, where both held a series of meetings with different stakeholders including senior British officials. The negotiation would get a further fillip during the meetings of trade ministers of India and the UK at the sidelines of G20 trade ministers meeting this month in Jaipur. "The visit of the Indian minister and secreta

India, UK launch health care alliance in a bid boost bilateral ties

Professor Stephen Powis, National Medical Director of NHS, England, said he believed that both countries face many challenges in healthcare and they have many opportunities too

India, Britain could sign free trade agreement this year: Trade ministry

New Delhi sees an FTA with Britain as crucial to hopes of becoming a bigger exporter, while the UK would obtain wider access for its whisky, premium cars and legal services

Need liberalised services agreement between UK and India: British Airways

British Airways currently operate 54 flights per week connecting Mumbai and Delhi with London

Felt like 'home': Migration to UK at record high, Indians dominate

They also made up the largest group of students granted visas under the new Graduate post-study work route, representing 41% of grants

May feel pressure on non-tariff barriers in FTA, says UK panel

As much as 60 per cent of Indian exports to the country are already tariff free, while only three per cent of UK exports to India are tariff free

Sunak, Modi to expedite progress on India-UK FTA: Downing Street

British Prime Minister Rishi Sunak spoke to Prime Minister Narendra Modi on Thursday and agreed to expedite progress to resolve outstanding issues in the India-UK free trade agreement (FTA) negotiations. In a readout of the call between the two leaders, Downing Street said that Sunak reiterated his condemnation of the unacceptable violence outside the Indian High Commission in London last month and updated Modi on the steps being taken to ensure the security of Indian diplomatic staff. The leaders agreed to follow up their discussions at the G7 meeting in Japan next month and the G20 Summit being hosted by India later in the year. The leaders reflected on the close friendship between the two countries, and agreed great progress was being made on the 2030 UK-India Roadmap," a Downing Street spokesperson said. "Discussing ongoing negotiations on a UK-India Free Trade Agreement, the leaders reflected on the huge opportunities a deal would offer to Indian and British businesses and ...

Trade talks with UK still on, reports of pause 'baseless': MEA official

In a bid to bring negotiations back on track, the UK Home Office is planning to make an announcement in the coming weeks and a crackdown on Sikh extremists