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India-UK free trade agreement gets cabinet nod, signing scheduled during PM Modi’s London visit

India and the UK will sign a landmark free trade agreement during PM Modi’s London visit, aiming to eliminate tariffs on key goods and boost bilateral trade to USD 120 billion by 2030.

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In a major development on the economic diplomacy front, the Indian cabinet has approved the long-negotiated free trade agreement (FTA) with the United Kingdom. The agreement, officially known as the Comprehensive Economic and Trade Agreement (CETA), is set to be signed during Prime Minister Narendra Modi’s visit to London on July 24.

The prime minister’s four-day visit will begin on Wednesday and includes stops in both the United Kingdom and the Maldives. Accompanying him on this diplomatic mission will be Commerce and Industry Minister Piyush Goyal, who will co-sign the agreement with his British counterpart.

Key highlights of the India-UK trade pact

The CETA aims to remove tariffs on key Indian exports such as leather goods, footwear, and garments—sectors known for being labour-intensive. In return, the pact will lower import duties on British products like whisky and automobiles. This mutual tariff relaxation is expected to significantly boost bilateral trade, with the target of doubling trade volumes to USD 120 billion by 2030.

In addition to trade in goods, the agreement encompasses various other sectors, including services, innovation, intellectual property rights, and government procurement.

Negotiations for the FTA officially concluded on May 6, and while the pact will be signed shortly, it will only come into effect after ratification by the British Parliament. The text of the agreement is usually signed by the respective commerce ministers of the two nations.

Social security pact also concluded

Alongside the trade agreement, India and the UK have also wrapped up discussions on a separate Double Contribution Convention Agreement. This social security pact is expected to benefit Indian professionals working in the UK for short durations by avoiding double contributions to social security schemes.

Bilateral investment treaty still under negotiation

While the FTA and social security agreement are in place, discussions around the bilateral investment treaty (BIT) continue. The BIT is expected to focus on protecting investments and ensuring dispute resolution mechanisms for investors from both countries.

Trade figures and projections

India’s exports to the UK grew by 12.6% to USD 14.5 billion in 2024–25, while imports rose marginally by 2.3% to USD 8.6 billion. Overall bilateral trade increased to USD 21.34 billion in 2023–24, up from USD 20.36 billion the previous year.

Once ratified by both governments, the free trade agreement will pave the way for stronger economic ties between India and the UK, fostering more robust commercial exchanges and investment opportunities.

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Vijay appoints astrologer Radhan Pandit as OSD, sparks criticism from allies

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Actor vijay

Tamil Nadu Chief Minister C. Joseph Vijay has appointed astrologer and TVK spokesperson Radhan Pandit Vettrivel as Officer on Special Duty (OSD) to the Chief Minister, a move that has sparked criticism from allies and opposition leaders.

Radhan Pandit, who had publicly predicted a major electoral victory for Vijay and the Tamilaga Vettri Kazhagam (TVK) ahead of the 2026 Tamil Nadu Assembly elections, has been considered a close aide of the Chief Minister during the party’s election campaign.

The appointment drew sharp reactions from leaders within the Congress and Left parties. Congress MP Sasikanth Senthil questioned the decision in a post on X, asking why an astrologer required an OSD position in government.

Leaders from the Viduthalai Chiruthaigal Katchi (VCK) and CPI(M) also criticised the move, arguing that such appointments go against the principles of scientific temper and secular governance.

According to reports, Radhan Pandit was among the first people to visit Vijay’s residence after TVK’s strong performance in the assembly elections. He has also been associated with the party as a spokesperson and political commentator.

The controversy comes amid rapid political developments in Tamil Nadu following the formation of the new TVK-led government.

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Maharashtra opposition seeks all-party meeting over PM Modi’s austerity appeal

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Sharad Pawar

Maharashtra opposition parties on Tuesday demanded an all-party meeting after Prime Minister Narendra Modi appealed to citizens to adopt austerity measures amid rising concerns over the ongoing West Asia crisis.

The prime minister recently urged people to avoid non-essential gold purchases, reduce petrol and diesel usage, postpone foreign travel and consider work-from-home practices to help minimise the economic impact of global uncertainty.

Leaders from opposition parties in Maharashtra said the Centre should hold detailed discussions with political parties and explain the broader economic situation to the public. They raised concerns over the possible impact of geopolitical tensions on fuel prices, inflation and the overall economy.

Some opposition leaders also questioned the timing of the austerity appeal, saying citizens deserve greater clarity on the government’s plans to tackle any economic challenges arising from the crisis in West Asia.

Meanwhile, BJP leaders defended the prime minister’s remarks, describing them as precautionary steps aimed at reducing pressure on foreign exchange reserves and controlling inflationary risks linked to global supply disruptions.

The debate comes as concerns grow globally over energy supplies and rising crude oil prices due to tensions in West Asia.

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India has 69 days of crude oil and LNG reserves, 45 days of LPG stock, says Hardeep Puri amid West Asia crisis

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Hardeep singh puri

India has sufficient fuel reserves and there is no supply shortage despite the ongoing conflict in West Asia, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday.

Addressing the CII Annual Business Summit, the minister said the country currently has crude oil and LNG reserves that can last for 69 days, while LPG stocks are sufficient for 45 days.

Puri also said LPG production has been increased from around 35,000-36,000 tonnes per day to nearly 54,000 tonnes per day to ensure uninterrupted supply during the ongoing geopolitical tensions in West Asia.

The minister dismissed fears of any immediate restrictions or disruption in fuel availability and said there is “no supply issue” in the country.

His remarks came after Prime Minister Narendra Modi urged citizens to reduce unnecessary fuel consumption and avoid non-essential foreign travel to help conserve foreign exchange reserves amid rising global energy prices linked to the West Asia conflict.

The government has also said there are no plans for fuel rationing and that India’s energy supply position remains stable.

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