UK trade secretary, investment minister firm up 17 new export, investment deals during India visit

During visits to India, UK Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson announced 17 new export and investment deals. The recent Indian budget increasing FDI in insurance to 100% enhances British firms’ expansion potential. Over 950 Indian companies in the UK and 650 UK firms in India collectively support over 600,000 jobs.

The European Union plans to urge India to lower tariffs on cars and wine to boost trade and reduce reliance on China. European Commission President Ursula von der Leyen will discuss this with Indian leaders during her visit, aiming to expedite free trade agreement talks. The EU also seeks deeper economic and security cooperation with […]

India is working on various free trade agreements (FTAs) to enhance export opportunities and strengthen market access for domestic industries. Recently, India resumed negotiations with the UK for an FTA. The agreement aims to benefit both countries by reducing tariffs and expanding cooperation in several sectors, including technology, healthcare, and education.

The UK aims to be India’s ‘premier league partner,’ according to Secretary of State for Business and Trade Jonathan Reynolds. The proposed UK-India FTA seeks to enhance goods, services, and investment, strengthening the bilateral relationship amid global economic challenges and emphasizing political stability to push the economic agenda.

India and the European Union are set to collaborate on AI, electric vehicles, semiconductors, and telecoms, emphasizing secure connectivity. They aim to harmonize EV charging standards and focus on battery recycling research, with a budget of E 60 million. High-level meetings will also address market access commitments.

External Affairs Minister S Jaishankar emphasized the need to expedite the review of the trade agreement between India and ASEAN countries. He highlighted the progress in India’s relations with these nations and identified areas like AI, semiconductors, and green energy as promising opportunities. He also stressed the importance of completing the India-Myanmar-Thailand Highway despite challenges.

India and the European Union will review their free trade deal negotiations and finalize a strategic agenda during European Commission President Ursula von der Leyen’s visit. Key topics include addressing tariffs, expanding defense cooperation, and India’s role in the Indo-Pacific while also discussing the Ukraine situation.

Moody’s Ratings reports India has lower exposure to US markets compared to other APAC nations. Sectors like food, textiles, and pharmaceuticals face risks. India and the US plan to negotiate reducing import tariffs, potentially reaching a trade deal by 2025. APAC countries are navigating an environment with US tariffs impacting key sectors.

Commerce and Industry Minister Piyush Goyal urged the Indian electronics and electrical industry to target $100 billion in exports over the next 5-7 years, emphasizing the need to avoid protectionism and focus on consumer interests. He highlighted the significant progress in electronic goods exports, which have risen to second place in the country, compared to […]