India UK Trade Deal It Is Good News For Both The Countries: Karan Bilimoria Brass Tacks
The historic UK-India Free Trade Agreement, signed by both Prime Ministers, marks a significant milestone in bilateral ties, aiming to double trade to £80 billion in five years. Amid global trade shifts, this deal signals strong collaboration and strategic partnership. n18oc_world News18 Mobile App - https://onelink.to/desc-youtube
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Time of India
10 minutes ago
- Time of India
India-UK trade deal not historic but should help Indian workers in UK: Swaminathan Aiyar
Swaminathan Aiyar , Consulting Editor, ET Now, suggests that while the UK trade agreement may not drastically alter the overall scenario due to existing low trade levels, any increase is beneficial. A significant achievement is the improved conditions for Indian workers in the UK, including exemptions from social security contributions and the ability to work remotely in 35 sectors, enhancing their earnings. India-UK Bilateral trade currently stands at $21 to $24 billion, with targets to hit $120 billion by 2030. Is that leap realistic? What must happen to bridge the gap there? Swaminathan Aiyar: Well, to say it is historic is a clear exaggeration. It is a useful thing. We live in a world right now where trade barriers are going up and it is happening all over the place, not just in the USA. Others in retaliation are putting theirs up. We ourselves have retaliated. On some occasions we have put ours up. So, when you get any agreement where there is a significant amount of liberalisation of trade, I would say it is welcome. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics MCA others Technology Design Thinking healthcare Others Management Product Management Operations Management Cybersecurity PGDM Data Science Artificial Intelligence Healthcare Leadership CXO Degree Data Science Digital Marketing Project Management Finance Public Policy MBA Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sleep Apnea Ruined My Life – Then I Found This Simple Trick Health Insight Undo If you go back to the 1950s, Britain was our largest trading partner; today it is not even in the top 10. So, it has fallen away in importance. The old colonial connection is completely severed and Britain itself has suffered a substantial amount of deindustrialisation. And if you ask what are the main exports of England's, somebody will say Premier League football or The Economist. It does export scotch whiskey of course and that is where the duty is going to come down from 150% to 75%, subsequently maybe to 40%. That still gives plenty of protection for Indian industry. For anybody who is worried, I need to emphasise that we now have two or three artisanal whiskey companies in India which in blind tasting have beaten everybody else. Now, of course, we are not mass-producing these things. Indri will have a small batch run. It is not like the continuous mass production of some famous scotch names, but we are competent and we are high class even in something like whiskey. So, I welcome the increased competition out there too. India itself will benefit significantly in various ways. My next question is which sector is poised to benefit the most after this deal? Swaminathan Aiyar: At the end of it all, this freeing of trade will change things. But if already the UK is not among your top 10 trading partners, you cannot expect this to really change the whole scenario. If already the trade is low, it means the complimentarity between the two countries is not that high. It is much higher with China and the USA and much less with the UK. So, the overall scope for trade is limited, but we are increasing it and every increase is a good thing. Live Events You Might Also Like: India-UK FTA: Scotch whisky, gin tariff cuts unlikely to impact retail prices We have often talked about improving the conditions for Indians to move to the UK for work. This used to be one of the things that was holding up an agreement. There, we have a good deal. Indians can work in 35 sectors for two years without any office and that means you can land up there and just work from your residence with zoom and you can be functioning without going through all the difficulties of setting up a formal sector and there is an exemption for social security. This is important. A significant part of your salary, anything you earn when your people go to the UK, is cut and goes towards your long-term pension. Our fellows are going there to do IT or other work for one year, for two years, for three years, so there is no point in them paying into social security when they will get nothing out of it once they retire. You have to work a very large number of years before you can get those benefits. Earlier they resisted it and said they were not going to do it. The United States still has not allowed this, but Britain has given what the United States has not given and this is very useful. I do not know the exact rates of the deduction for different categories, but 10-15% or sometimes 20% of your salaries went in these various deductions. If that gets reduced, there is that much more these Indian professionals will be able to send home. So that is a positive thing.
News18
14 minutes ago
- News18
Air India Express Flight Fails To Take Off From Hindon Airport, Reports Technical Snag
Last Updated: The airline has provided guests with options, including hotel accommodation, complimentary rescheduling, or cancellation with a full refund. An Air India Express flight on Sunday failed to take off from Uttar Pradesh's Ghaziabad following a technical issue and subsequent watch hour limitations at the airport, an Air India Express Spokesperson said. The spokesperson said that the flight will depart once the airport is available for commercial operations in the morning. The airline has provided guests with options, including hotel accommodation, complimentary rescheduling, or cancellation with a full refund. 'One of our flights from Hindon is operating with a delay, as it could not take off following a technical issue and subsequent watch hour limitations at the airport. The flight will depart once the airport is available for commercial operations in the morning. We have provided guests with options including hotel accommodation, complimentary rescheduling, or cancellation with a full refund," the spokesperson added. Further details are awaited. Meanwhile, on July 23, an Air India Express flight (IX375) from Kozhikode to Doha returned to its origin shortly after takeoff due to a technical issue. Flight IX375, a Boeing 737-86N was scheduled to depart Kozhikode at 08:50 AM and arrive in Doha by 10:50 AM. The aircraft took off slightly behind schedule at 09:17 AM but was diverted back to Kozhikode shortly after departure. It was diverted to Calicut International Airport in Kozhikode, as per Flightradar24. view comments First Published: July 28, 2025, 10:40 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
34 minutes ago
- Time of India
India's seafood exports set to compete with Vietnam, Singapore after UK trade deal
Indian seafood exporters are poised to compete on equal terms with Vietnam and Singapore in the UK market, following the signing of a comprehensive trade agreement that eliminates previous tariff disadvantages, according to the fisheries ministry. The deal puts Indian marine products on par with competitors from Vietnam and Singapore, which already benefit from the United Kingdom-Vietnam Free Trade Agreement (UK-VFTA) and UK-Singapore Free Trade Agreement (UK-SFTA), respectively. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Project Management Public Policy Management Design Thinking Finance others PGDM Degree MBA Artificial Intelligence Technology healthcare Cybersecurity Operations Management Product Management Data Science CXO Digital Marketing Others Data Science MCA Healthcare Leadership Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details According to the ministry, Indian exporters previously faced tariff barriers that put them at a competitive disadvantage, particularly for high-value products, including shrimp and value-added seafood goods. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bargain Prices on Unsold Container Houses in National Capital Region - Check Them Out! Shipping Container Homes | Search Ads Search Now Undo The elimination of these tariffs is expected to help Indian companies leverage the country's substantial production capacity, skilled workforce, and enhanced traceability systems to capture a larger share of the UK seafood market, it added. The trade agreement also provides Indian exporters with an opportunity to reduce their dependence on traditional markets, such as the United States and China, by diversifying into the UK market. Live Events With the trade deal, the industry estimates a 70 per cent surge in marine exports to the UK in the coming years, the ministry said in a statement. India's seafood sector has invested heavily in improving traceability and quality standards in recent years, positioning the industry to take advantage of the improved market access conditions. The development aligns with India's broader goal of becoming a global leader in sustainable marine trade. Industry analysts said the agreement comes at an opportune time when global supply chains are being restructured and countries are looking to diversify their import sources, the statement added. India's total seafood exports in 2024-25 reached Rs 60,523 crore, amounting to 1.78 million tonnes. Marine exports to the UK were valued at Rs 879 crore. However, India's share in the UK's USD 5.4 billion seafood import market is just 2.25 per cent.
