Page 2 - India Uk Relation

Possible outcomes of India-UK trade deal

India faces complex negotiations ahead that could restrict domestic policy space and economic interests

Former British PM Theresa May to stand down at next election after 27 years

Theresa May, who was the prime minister of Britain between 2016 and 2019, on Friday announced her exit from frontline politics after 27 years as a member of Parliament in the House of Commons. The 67-year-old, whose travails with getting a Brexit deal through Parliament in the wake of the June 2016 referendum ended in a forced exit from 10 Downing Street over four years ago, said she had taken the "difficult decision" to not contest in the next general election from her Maidenhead constituency in south-east England. She has been the Conservative MP for the Berkshire seat since 1997, having been elected seven times. "Since stepping down as prime minister I have enjoyed being a backbencher again and having more time to work for my constituents and champion causes close to my heart including most recently launching a Global Commission on Modern Slavery and Human Trafficking, said May in a statement to her local Maidenhead Advertiser'. These causes have been taking an increasing amount

UK PM Rishi Sunak paid over half a million pounds in personal tax

British Prime Minister Rishi Sunak paid over half a million pounds in personal tax for the financial year 2022-23, Downing Street revealed on Friday as part of its transparency data release. The 43-year-old Indian-origin leader had indicated his plans to publish his tax returns. His tax assessment document shows he paid a tax bill of GBP 508,308, around GBP 75,000 more than what he paid in the previous financial year (2021-22). The tax documents show that Sunak made nearly GBP 1.8 million through capital gains up from GBP 1.6 million in 2021-22 as well as GBP 293,407 in other interest and dividends. All of the investment income and capital gains came from a US-based investment fund listed as a blind trust, according to the summary. He also earned GBP 139,477 during the year from his roles as a member of Parliament and Prime Minister including allowances for the use of 10 Downing Street. Prepared by accountancy service Evelyn Partners, the tax summary follows the publication of h

UK to benefit from India's progress, says Indian Dy High Commissioner

Urging the UK to shed its "old lenses" and "see India for what it is", India's Deputy High Commissioner, Sujit Ghosh, on Wednesday said that London is "uniquely positioned" to benefit from New Delhi's rise. Ghosh was addressing the annual UK-India Parliamentary Lunch organised by the London-headquartered India Global Forum (IGF) here. The annual event brings together "leading figures from politics, business, finance, and culture over an informative sit-down lunch to celebrate the growing ties between our two great democracies," according to the IGF website. Ghosh spoke extensively about the growing UK-India ties, the vibrant digital economy, and opportunities in India, the IGF said in a post on the social media platform X. He said, India is not just creating opportunities for its people but also for the rest of the globe. The UK is uniquely positioned to benefit from India's rise." "The time has come for our friends in the UK to shed their old lenses and see India for what it is,"

'UK wants India to treat it's citizens fairly after cricketer visa episode'

The UK government on Wednesday stated that India should treat British citizens "fairly" when they apply for visas after off-spinner Shoaib Bashir's arrival for the five-match Test series was delayed due to lingering issues relating to his travel documents. The 20-year-old Bashir, who plays for Somerset in the English county, was with the England squad in Abu Dhabi but couldn't proceed to India as he is yet to be granted visa. His family is of Pakistani heritage. "The specifics of this case are a matter for Shoaib Bashir and the Indian Government. But we absolutely expect India to treat British citizens fairly at all times in its visa process," a spokesperson of the British government was quoted as saying by ESPNcricinfo. "We have previously raised the issues British citizens with Pakistani heritage experience applying for visas with the Indian High Commission in London." England captain Ben Stokes had earlier in the day said that he's "devastated" that the visa issues had forced ..

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India, UK next round of talks for proposed free trade agreement from Wed

The next round of talks for the proposed Free Trade Agreement (FTA) between India and the UK will start here from Wednesday to resolve remaining issues and conclude the negotiations, an official said. The 13th round of negotiations for the proposed pact was held between September 18 and December 15. "The UK and India will continue to negotiate towards a comprehensive and ambitious FTA. The 14th round of negotiations will take place here from Wednesday," the official said. These negotiations would focus on complex issues in the areas of goods, services, and investment. Issues that are pending include duty cuts on electric vehicles, whiskey, and the movement of professionals. Talks are also progressing on the proposed Bilateral Investment Treaty (BIT). India and the UK launched the talks for an FTA in January 2022 with a view to boost economic ties between the two nations. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property

Defence minister Singh begins his UK tour with visit to Gandhi memorial

Defence Minister Rajnath Singh kick-started his UK tour with a visit to Mahatma Gandhi's statue at Tavistock Square in central London on Tuesday. Singh's visit comes after a gap of 22 years, with the last one by an Indian defence minister to the UK dating back to January 2002. Accompanied by Indian High Commissioner to the UK Vikram Doraiswami and members of his delegation, Singh paid floral tributes to the Father of the Nation at the memorial which dates back to the 20th century. The iconic sculpture of Gandhi in a meditative pose is the site of Gandhi Jayanti and Martyr's Day commemorations by the diaspora. The minister then made his way to Whitehall to inspect a ceremonial Guard of Honour at the Horse Guards Parade before a bilateral meeting with his UK counterpart, Defence Secretary Grant Shapps. The two leaders are expected to cover a wide range of defence, security and industrial cooperation issues. Later on Tuesday, Singh will visit the Ambedkar Museum in north London to pa

Rajnath Singh arrives in UK; to discuss defence issues with his counterpart

During his visit, the defence minister will discuss bilateral issues with his counterpart, Secretary of State for Defence Grant Shapps, the Ministry of Defence (MoD) said in an official press release.

UK-India to build stronger ties during minister's visit to TN, Gujarat

TN and Gujarat are leading the way in the development of emerging technologies, the British minister said

Rajnath Singh's UK visit first by Indian defence minister in 22 years

Defence Minister Rajnath Singh is set to embark upon a three-day visit to the UK from Monday, seen as significant to the bilateral partnership in the sphere of defence and security as the last ministerial level visit took place 22 years ago. Singh's previously planned visit to the UK in June 2022 was called off by the Indian side for protocol reasons, making next week's tour a highly anticipated one. Besides wide-ranging talks with his UK counterpart, Defence Secretary Grant Shapps, Singh is expected to inspect a ceremonial Guard of Honour and undertake visits to Mahatma Gandhi and Dr B.R. Ambedkar memorials in London. A community interaction with members of the Indian diaspora in the UK is also expected to be part of his three-day itinerary. This visit is significant in terms of both optics and substance. In terms of the former, this is the first visit of India's defence minister to the UK in 22 years the last visit was by then defence minister of a previous BJP-led government, .

UK PM Rishi Sunak faces byelection challenge after ex-minister quits

British Prime Minister Rishi Sunak was on Friday hit with a byelection challenge as a former energy minister resigned as Conservative Party MP over new oil and gas production related legislation coming up in Parliament next week. Chris Skidmore, who was a minister for energy under former prime minister Boris Johnson, said he was resigning as Tory MP for Kingswood in Gloucestershire, south-west England, because the constituents deserved a new member of Parliament after his "personal decision" not to continue in the Commons. Skidmore, 42, had already announced plans not to contest the next general election but his hastened exit means Sunak will be forced to contend with a byelection, which is often seen as a precursor to the final poll results in a general election year. "The bill would in effect allow more frequent new oil and gas licences and the increased production of new fossil fuels in the North Sea," said Skidmore in his resignation letter posted on X. "I can no longer stand b

India seeks bargains against UK's carbon border tax as part of FTA

Both countries hope to finalise the deal by February, before the Lok Sabha election in India

With elections in sight, PM Rishi Sunak pins hopes on India-UK FTA

The ambitious India-UK free trade agreement (FTA) may have proved elusive even in 2023, but it remains the focal point for British Prime Minister Rishi Sunak to try and bolster his electoral pitch for voters increasingly disillusioned by his government over the rising cost of living and illegal migration. As Sunak, Britain's first Indian-origin Prime Minister, marked the start of this year by setting out his government's top priorities for the year ahead, the deal was not far behind on the agenda. The two nations will begin a new round of discussions in the New Year after the 13th round was completed this month. The round included sessions both in-person, in London and Delhi, and virtual talks. As with round 12, these negotiations focused on complex issues including goods, services, and investment. The UK and India will continue to negotiate towards a comprehensive and ambitious Free Trade Agreement, the Department for Business and Trade (DBT) said. There is a strong sense that bot

EAM Jaishankar rejects criticism over delays in firming up India-UK FTA

External Affairs Minister S Jaishankar on Monday took strong objection to those criticising New Delhi for delays in firming up the proposed free trade agreement with the UK and said careful scrutiny is required as such pacts could impact livelihoods of people. "I hear this naysayers' narrative coming back -- why isn't India quickly signing up (the FTA) with the UK? Nobody says why isn't the UK quickly signing up with India? So somewhere, it is like we have to make that accommodation," he said. The external affairs minister was speaking at a book release ceremony. India and the UK have been holding negotiations to firm up an ambitious FTA. The two sides are learnt to have finalised over 20 out of 26 chapters in the FTA and are now looking at sealing it by bridging differences on certain contentious issues including mobility of people and import duty concessions on certain items. In April last year, the two sides had set a Diwali deadline for concluding the free trade agreement but

India-UK to resolve visa, EV issues under proposed free trade agreement

India and the UK are trying to resolve issues concerning visas for domestic professionals and duty concessions on British electric vehicles (EVs) as part of the proposed free trade agreement, and talks on them are at the last leg, an official said. An Indian team is in the UK to iron out differences over these issues, besides some others in the services sector and customs duty cut on British whiskey. The two countries are looking at tariff rate quota (TRQ) type arrangements for EVs. Under TRQ, a fixed number of goods are allowed at concessional duty, and beyond that, normal duty applies. The UK has sought customs duty concessions on exports of electric vehicles to India under the proposed free trade agreement. "India is seeking a liberal visa regime for its services companies as those firms need to send skilled professionals to the UK. So, visa regime should be facilitative for them," the official said. However, the UK is arguing that one of the main issues that led to Brexit was

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