Page 3 - India Uk

PM Starmer gets 'Living Bridge' honour for role in concluding India-UK FTA

British Prime Minister Keir Starmer has been awarded a 'Living Bridge' honour for his role in championing closer bilateral relations and clinching the India-UK Free Trade Agreement (FTA). Seema Malhotra, Britain's Indian-origin Minister for the Indo-Pacific in the Foreign, Commonwealth and Development Office (FCDO), accepted the honour on behalf of Starmer at a ceremony in the House of Lords complex in London on Monday evening. The annual Living Bridge Awards, organised by the UK-based strategic consultancy India Business Group (IBG), also recognised New Delhi-based GMR Group multinational conglomerate, British Indian businessman G P Hinduja, KPMG UK chair Bina Mehta, and the University of Southampton for their role in bringing India and the UK closer across sectors. This deal (FTA) will assist businesses to trade with India with confidence and security taking advantage of the huge opportunities offered by the complementary nature of the two economies and India's rapid growth, said

India-UK FTA to boost aluminium exports as carbon tariffs pose challenge

FTA could triple aluminium exports to the UK by 2030, while R&D collaboration may enable extraction of critical minerals from aluminium by-products

India shifts focus to EU as US tariffs stall bilateral trade negotiations

With US tariffs squeezing exports and trade talks stalled, India banks on the UK FTA to push forward EU negotiations, covering autos, wines, procurement and digital trade

Stepping stone deal? UK pact could set template for India's future FTAs

Experts point out that the deal was possible only because both sides respected each other's sensitivities and regulatory autonomy

Tesco to set up distribution hub, create 15,000 jobs: K'taka Industries Min

UK-based retail giant Tesco plans to set up a new distribution centre in Karnataka, creating 15,000 additional jobs, Large and Medium Industries Minister M B Patil said on Wednesday. UK engineering major Rolls-Royce is also exploring fresh investments in the state, he said, adding that the government would expedite all necessary processes to facilitate the company's plans, his office said in a release. Patil made the announcement while addressing a reception hosted on Tuesday by the British Deputy High Commission to mark the signing of the IndiaUnited Kingdom Free Trade Agreement (FTA). The pact is projected to boost bilateral trade by about Euro 25 billion annually and help double trade volumes to nearly Euro 90 billion by 2030. The FTA would pave the way for duty-free access for 99 per cent of India's exports to the UK and 90 per cent of UK exports to India. This would mean more affordable products, greater market access for businesses, and a surge in commerce benefiting consumers

India-UK trade deal boosts access for Indian medical devices in Britain

The India-UK trade pact has incorporated a mutual recognition agreement framework to facilitate smoother entry of medical devices certified by domestic regulatory agencies into the British market, an official said on Tuesday. The framework will help Indian manufacturers expand market share in the UK vis-a-vis its global competitors like China, Brazil, and Vietnam who face non-preferential duty. "The free trade agreement includes a mutual recognition agreement framework allowing medical devices certified by the Central Drugs Standard Control Organisation (CDSCO) or the Indian Certification of Medical Devices (ICMED) to access the UK market more freely," the official said. Medical devices and instruments will be exported to the UK at zero tariffs, down from the current duty range of 2 per cent to 6 per cent, benefiting Indian manufacturers of surgical and diagnostic equipment. The UK medical devices market was valued at USD 32 billion in 2024 and is projected to reach USD 69 billion

MakeMyTrip adds UK's largest hotel chain to strengthen hotel portfolio

Premier Inn's addition expands MakeMyTrip's directly contracted hotel base, aligning with its strategy to capture outbound demand in long-haul destinations like the UK and Europe

India-UK FTA will grow Scotland whisky market by $1 bn: Glenmorangie chief

Caspar MacRae, CEO of The Glenmorangie Company, says the India-UK Free Trade Agreement will make whisky more affordable in India, helping the market grow by $1 billion

'Historic' FTA with Britain shows world's trust in India: PM Modi

Prime Minister Narendra Modi on Saturday described the recently concluded FTA between India and UK as 'historic,' and said the trade pact showed the world's trust in the country. As regards Operation Sindoor, he said weapons manufactured under the 'Make in India' initiative played a great role during the cross-border military offensive in destroying enemy targets and made enemies lose sleep. The PM inaugurated, laid foundation stones and dedicated projects worth Rs 4,900 crore here and underscored the NDA government's commitment towards Tamil Nadu's growth. In his address after inaugurating the projects, Modi said he was blessed to directly land in Tamil Nadu after completing his foreign tour during which the India-UK Free Trade Agreement was signed before his visit to the Maldives. The trade pact with Britain was 'historic.' "India and Britain signed a FTA. This shows the growing trust of the world and our self-confidence. We will make Viksit (developed) Bharat and Viksit Tamil N

India reserves right to retaliate if carbon tax hurts our exports: Goyal

Commerce and Industry Minister Piyush Goyal on Saturday said India will "react and retaliate" if the UK imposes a carbon tax in the future that harms domestic exports. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM), starting in 2027. "As of now, no CBAM, we are a sovereign and a very powerful nation today...So, if anybody hurts our exports interest, we will react and hurt and retaliate or rebalance to make sure that our interest is not hurt," he told reporters when asked about the UK's proposed CBAM. "I can assure that no unilateral measure which hurts India can go away without a proportionate response from India," he added. Sources have said India flagged the issue during negotiations of the trade agreement. The comprehensive economic and trade agreement (CETA) was signed on July 24, with an aim to double bilateral trade by 2030. The issue is not in the pact, as Britain has not yet notified of the tax. Goyal added that the E

FTA with UK 'gold standard' for balanced agreements: Piyush Goyal

India has protected all sensitive sectors, including dairy, rice and sugar, in the free trade agreement with the UK, Commerce and Industry Minister Piyush Goyal said on Saturday. The pact will help boost exports of labour-intensive products like footwear, textiles and gems and jewellery, he added. "We have protected all the sensitive sectors of India...we have not opened for UK (those areas)....Zero compromise and extensive benefits makes it a phenomenal free trade agreement (FTA)," Goyal told reporters here. The agreement was signed on July 24 in London. He added that the agreement will open doors for India to the developed world.

Freedom to 'rebalance': India on the UK's proposed carbon border tax

If CBAM adversely impacts Indian exports covered by the deal, the government will act to ensure that the agreed market access terms are not diluted

India-UK trade deal fails to lift stocks as earnings concerns dominate mkts

Despite the anticipated India-UK trade deal, Indian equity markets remained subdued, with a broad selloff overshadowing sector-specific optimism

India, UK to work on recognition of professional degrees to ease movement

India and the UK have agreed to negotiate mutual recognition agreements (MRAs) after implementing the trade deal, as these pacts are important for facilitating the movement of professionals such as nurses, accountants and architects to Britain, an official said. The India-UK trade agreement was signed on Thursday and it may take about a year for its implementation as it requires approval of the British parliament. "It has been agreed that both countries will engage on mutual recognition of qualifications because in certain professional services, recognition of qualifications is an essential requirement like nurses, architects, accountants, and dentists. Within a period of 36 months, we will try to enter intoAs with the UK," a commerce ministry official said. MRAs in professional services are voluntary pacts between competent authorities of respective nations. These confer recognition of certain licensing or qualification requirements obtained in the jurisdiction of other ...

India-UK FTA clears road for British cars, but with speed bumps ahead

FTA phases in tariff cuts for UK car exports, but strict quotas and EV exclusions mean limited gains for British automakers in India's protected market

India-UK free trade agreement is going to reshape auto market: Siam

India, UK sign FTA: Automotive tariffs to be halved over 10 years; luxury brands and domestic OEMs alike stand to benefit as India deepens global trade ties

India fails to secure exemption from UK carbon tax in trade deal: GTRI

India was unable to secure an exemption from the UK's carbon tax in the free trade agreement, signed on Thursday, a move that will impact India's carbon-intensive exports to Britain, think tank GTRI said on Friday. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM) starting 2027. By not securing a carve-out or exemption clause on CBAM (carbon border adjustment mechanism), India lost a vital opportunity to protect its carbon-intensive exports, the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. "From January 2027, the UK can impose carbon taxes on Indian steel and aluminum, even as we grant UK goods duty-free access. That's a serious asymmetry. Expect the same treatment in India's trade agreement with the EU," he said. The GTRI in May stated that India's exports worth USD 775 million to the UK may be impacted due to Britain's decision to introduce a carbon tax on products such as iron and steel, aluminium, ...

'UK trade pact will help us, India must sign more', says RBI Guv Malhotra

RBI Governor Sanjay Malhotra said the UK-India FTA will benefit India's manufacturing and services sectors, adding that multilateralism has taken a back seat and more such pacts are needed

India-Australia FTA likely in 'very near future', says Australian Trade Min

Australia expects to expand its trade pact with India soon; initial FTA was signed in April 2022, removing tariffs on most goods but excluding key farm products like wheat and dairy

Trident up 6% on Q1 results, India-UK FTA; what should investors do?

Trident's consolidated net profit for the quarter ended June 30, 2025, stood at ₹140 crore, up 89 per cent from ₹73.8 crore in Q1FY25